FLORIDA 2-20 AGENTS LICENSE EXAM REAL EXAM 200+ Q&A, Exams of Nursing

Download FLORIDA 2-20 AGENTS LICENSE EXAM REAL EXAM 200+ Q&A and more Exams Nursing in PDF only on Docsity! FLORIDA 2-20 AGENTS LICENSE EXAM REAL EXAM 200+ QUESTIONS AND CORRECT DETAILED ANSWERS LATEST UPDATE 2023-2024 True or False? An applicant for the 2-20 General Lines Agent License can seek the license for the purpose of writing "controlled business". - ANSWER- False An applicant must not be seeking to obtain the 2-20 General Lines Agent License for the purpose of writing "controlled business"; this is specifically excluded. An applicant for the 2-20 General Lines Agent License must show that the application is at least ____ years of age. - ANSWER- 18 An applicant for the 2-20 General Lines Agent License must show that the application is at least eighteen (18) years of age. Which license is required to operate retail Property & Casualty Insurance Agency? - ANSWER- 2-20 General Lines Agent License The 2-20 General Lines Agent License is required to operate a retail Property & Casualty Insurance Agency. True or False? If an applicant fails to present a valid form of identification at the time of taking the 2-20 General Lines Agent exam that failure is considered a missed appointment and requires a new application and fee to the Department of Financial Services. - ANSWER- True It is True. An applicant who fails to present a valid form of identification at the time of taking the 2-20 General Lines Agent exam isconsidered to have missed the appointment and requires a new application and fee to the Department of Financial Services. Insurance contracts are personal contracts were the focus is on? - ANSWER- the person or persons being insured Insurance contracts are "personal contracts" where the focus is on the person or persons, NOT the property or operations. __________ is by and large when a property is without occupant or contents #14654 (entirely and materially empty). - ANSWER- Vacancy Vacancy is by and large when a property is without occupant or contents (entirely and materially empty). A man steps off a curb into busy traffic while he was texting on his iPhone; he stepped directly in front of a car which was forced to slam on their brakes. Unfortunately the car skidded into a food truck which then ricocheted into the food truck next to it. What was the proximate cause of all the damage? - ANSWER- the man stepping into oncoming traffic The proximate cause in any event is the primary and effective cause that triggers the event(s) resulting in injury or damages. In this case the negligence of the man stepping into oncoming traffic when it was unsafe to do so was the sole event which triggered the unbroken chain of events leading to the damage to the car and both food trucks. All of the following are true regarding "contracts of adhesion" EXCEPT #14645which of the follow? A)ambiguities are resolved in favor of the insurance company from the other party that was 10% responsible for the accident? - ANSWER- 10% In a pure comparative negligence venue, like Florida, you can always collect the portion of your damages that you were notnegligent in or for. In this case the first operator WAS NOT responsible for 10% of the loss and therefore can collect from the other party 10% of their damages. Judy has a loss that was caused by another party. She makes a claim with her own insurance company and now her insurance company is ____________ to Judy's right of recover against the responsible party. - ANSWER- subrogated Subrogation is the transfer to an insurance company of an insured's right to collect damages from a third responsible partyafter the insurance company has paid the insured and become "subrogated" to the insured's right's of recovery against the responsible party. Which if any of the following statements are true? Statement One: Pure Risk is only the chance of financial loss. Statement Two: Speculative Risk is the chance of loss or gain. - ANSWER- Both Statement One and Statement Two are correct Risk is the chance of financial loss AND Speculative Risk is the chance of loss or gain. Insurance companies are required to provide _____ day's notice #14647 of either policy Renewal or Non-Renewal. - ANSWER- 45 Insurance company are required to provide 45 day's notice of either policy renewal or non-renewal. The insured has had a $60,000 loss and it has been discovered the she has two liability policies which both apply to the same loss on a pro-rata basis. The first policy has a $1,000,000 limit and the second policy has a $2,000,000 limit. How much will each company pay towards this loss? - ANSWER- The first company will pay $20,000 and the second company will pay $40,000 Pro-rata shares requires each company to pay a portion of the total loss that is a based upon the company's proportionto all available limits. The first company has a proportion of $1,000,000/$3,000,000 which is 1/3 of the total loss.The second company has a proportion of $2,000,000/$3,000,000 which is 2/3 of the total loss. Florida law deems information provided by the insured in an insurance application to be _____________ and not ______________. - ANSWER- representations and not warranties Insurance policies require all changes to the policy to be made by ___________ request to the insurance company - ANSWER- writing All policies provide that any changes to the policy must be made by the insurer, in writing. A ________ in insurance terms is the reduction and/or destruction in use, #14641 value, access, custody, or function of or in property. - ANSWER- loss A "loss" in insurance terms is the reduction and/or destruction in use, value, access, custody, or function of or in property. True of False? Medical Payments coverage is primary, with respect to other available medical #14685 payments coverage, when occupying owned automobiles, and excess when occupying non-owned autos - ANSWER- True The medical benefits paid under Personal Injury Protection are up to ____% #14694 of reasonable expenses for necessary medical services - ANSWER- 80 If financial responsibility did not exist at the time of an accident, two things #14679 must happen for the owner and/or operator to avoid penalties; select the two things which must happen to avoid penalties from the options below. - ANSWER- A)the legally valid claims of others must be satisfied C)the owner and operator must provide SR-22 certification The Uninsured Motorists (UM) law requires that every policy that provides primary Liability #14683coverage for a specific motor vehicle must include "stacked" UM at the same limits as apply for Liability coverage, unless the insured, in writing does which if any of the following(multiple options are available to the insured). A)rejects UM coverage B)elects UM coverage at limits lower than those that apply for Liability C)elects "Non-stacked" UM coverage D)all of the above are options for the ins - ANSWER- D)all of the above are options for the insured No-Fault requirements for non-residents who are not required to register their #14689vehicles in Florida ARE subject to the No-Fault law if they have a motor vehiclephysically present in Florida for more than ___ of the preceding 365 days. - ANSWER- 90 days Kevin has four vehicles and he insures all of them with $10,000 per person and #14686 $20,000 per occurrence of "stacked" Uninsured Motorists Bodily Injury. Kevin was involved in an auto accident with a hit and run driver (the accident was the other driver's fault). Kevin was alone in his car, what is the maximum recoverable amount Kevin could receive under his Uninsured Motorist Bodily Injury coverage? - ANSWER- $40,000 PIP exceptions also known as "thresholds" permit the recovery of non- economic #14677loss (i.e. action for pain, suffering, mental anguish and inconvenience) if the injuryresults in all EXCEPT which of the following? A)significant and permanent loss of a bodily function B)permanent injury other than scarring and disfigurement C)significant and permanent scarring or disfigurement rendered within ______ years from the date of accident to an "insured". - ANSWER- 3 True or False? As regards PIP benefits to the named insured, the insured is covered under their own PIP coverage if the insured is occupying his or her insured motor vehicle OR a vehicle owned by a resident relative, if that vehicle is insured for Personal Injury Protection coverage. - ANSWER- True, the named insured is covered: if the accident occurs in Florida, the named insured is covered while occupying any defined motor vehicle, or if struck by a defined motor vehicle while not occupying any self-propelled vehicle (i.e. as a pedestrian); and if the accident outside of Florida, the named insured is covered while occupying his or her insured motor vehicle or a vehicle owned by a resident relative, if that vehicle is insured for Personal Injury Protection coverage. As regards PIP benefits to the named insured's residing relatives for accidents #14676 that occur outside of the state of Florida; the residing relative is covered only when the relative is occupying the named insured's "motor vehicle". - ANSWER- True As regards PIP benefits to the named insured's residing relatives for injuries sustained the following apply:If the accident occurs in Florida, while occupying any defined motor vehicle, OR if struck by a defined motor vehicle while not occupying any self-propelled vehicle; and If the accident occurs outside Florida, the named insured's benefits apply to the relative only when the relative is occupying the named insured's "motor vehicle". Herbert was permanently injured in an auto accident caused by the negligence #14675 of John. Herbert's injuries were valued at $200,000. Herbert has PIP and has recovered his full $10,000 limit, and he has a $300,000 single limit Uninsured Motorist coverage in his Personal Auto Policy (PAP). John has a Personal Auto Policy (PAP) with Bodily Injury Liability limits of $50,000 per person and $100,000 per occurrence. What is the dollar amount of Herbert's Uninsured Motorist Bodily Injury claim? - ANSWER- $140,000 Herbert will receive $140,000 under his Uninsured Motorists coverage ($200,000 of injuries - $10,000 PIP recovery less the $50,000 of Bodily Injury coverage from John's policy). Shelby was injured in an auto accident and has $90,000 in injuries and has a $1,000 #14692 PIP deductible. How much will Shelby receive as a claims payout from her insurance company? - ANSWER- $10,000 Shelby only receives $10,000 ($90,000 injuries - $1,000 deductible = $89,000 X 80% = $71,200 available for paymentbut the maximum PIP benefit is $10,000) Which, if any, of the following are non-compliance penalties for not complying #14690 with the Florida No-Fault Law? A)no "immunity" from legal liabilities which are granted to those who do comply B)personally responsible for payment of PIP benefits to those entitled to receive such benefits C)suspension of driver's license and vehicle registration D)all of the above - ANSWER- all of the above The owner of a motor vehicle is subject to three penalties for non- compliance with the compulsory insurance requirements: no "immunities" from legal liabilities which are granted to those who do comply; personal liable for payment of PIP benefits to those entitled to receive such benefits; and suspension of driver's license and vehicle registration. Which, if any, of the following statements are true regarding Coverage A- Dwelling coverage? #14697 Statement One: Coverage A covers the dwelling and structures attached to it Statement Two: Coverage A covers construction materials and supplies on or adjacent to the residence premises - ANSWER- both Statement One and Statement Two are correct True or False? The Florida Statutes require any policy with the RCV provision #14707in it not hold-back for depreciation not withstanding the repair or replacement of damaged property. - ANSWER- True The Vandalism endorsement in the DP-1 policy does not provide any coverage if #14701the building was vacant for ___ or more consecutive days immediately preceding a loss. A)30B)60C)90D)180 - ANSWER- 60 The Broad Form DP-2 policy includes all of the DP-1 coverages and adds which of the following perils (choose as many as apply). A)falling objects B)weight of ice, snow or sleet C)volcanic eruption D)flooding E)nuclear F)accidental discharge or overflow of water - ANSWER- A)falling objects B)weight of ice, snow or sleet C)volcanic eruption F)accidental discharge or overflow of water Coverage D — "Loss of Use" in the Homeowners policy (HO-3) covers increases over #14710 normal living costs if damage from a covered peril makes the residence _____________. - ANSWER- uninhabitable The Personal Articles Floater (PAF) insures specific classes of property; #14702 all but which of the following are true statements about the PAF. - ANSWER- inherent vice is an included peril The NFIP flood insurance _____ available in any community that HAS NOT #14698 adopted and enforced federal floodplain regulations. - ANSWER- is not All of the following meet the definition of Flood or Flooding EXCEPT: #14704 A)overflow of inland or tidal waters Radical Radiators, your Garage policy insured has suffered a theft loss to a Symbol 27 vehicle. They have Specified Causes of Loss coverage on the vehicle. Is this loss covered? - ANSWER- Yes, theft is a specified cause of loss Specified Causes of Loss include: fire, lightning, explosion, theft, windstorm, hail, earthquake, flood, mischief/vandalism, and burning, collision or derailment of a conveyance and Symbol 27 would cover specified autos on the policy for Physical Damage coverages. In the Business Auto Policy (BAP) Symbol 7 covers: - ANSWER- Specifically Described Autos Remember, Symbol 7 covers Specifically Described Autos. Your insured has a BAP and wants to know if Section II Liability provides coverage for damage to property the insured owns... A)You advise your client that this type of exposure is covered B)You advise your client that no liability can result from an act by the insured to an insured's own property (i.e. they can't be liable to themselves) and therefore no coverage exist C)You advise your client that the policy does not address an insured being liable to themselves in any manner D)Each of the - ANSWER- You advise your client that no liability can result from an act by the insured to an insured's own property (i.e. they can't be liable to themselves) and therefore no coverage exist You advise your client that no liability can result from an act by the insured to an insured's own property (i.e. they can't be liable to themselves) and therefore no coverage exist. Section III Physical Damage in the BAP covers: A)Collision B)Comprehensive or Specified Perils C)Both A & B D)Neither A or B - ANSWER- Both A and B In Section III of the BAP, Specified Causes of Loss is: A) More limited in coverage than Comprehensive coverage. B) Broader in coverage than Comprehensive coverage C) The same as Comprehensive coverage D) Another name for Collision coverage - ANSWER- More limited in coverage than Comprehensive coverage. An Automobile Dealer's Garage policy will compensate the dealer for the loss and/or damage to their inventory including profits. - ANSWER- False Profits are excluded under the Garage policy for losses incurred by dealers. True or False? Specified Causes of Loss provides the insured broader coverage than Comprehensive coverage in the BAP. - ANSWER- False Comprehensive coverage provides the insured broader coverage than Specified Causes of Loss coverage in the BAP. The BAP's Named Individuals Broadened PIP: - ANSWER- C) Named parties to receive the same treatment as named insureds for PIP coverage. In the BAP damage from a falling object or missile to an insured vehicle is treated under Comprehensive coverage. - ANSWER- True In the BAP damage from a falling object or missile to an insured vehicle is treated under Comprehensive coverage. Section II Liability of the Garage Policy does not apply to: A)Negligence B)Employee injuries C)Both A & B D)Neither A or B - ANSWER- B) employee injuries. The Garage Policy's Garage Liability EXCLUDES: A)Watercraft and aircraft B)Defective workmanship C)Product recall D)All of the above - ANSWER- D) All the Above In the BAP Comprehensive covered perils include: A)Wear and Tear B)Inherent Vice C)Both A & B D)Neither A or B - ANSWER- Wrong Read Section 5.2 of the Study Manual for a complete review. The BAP policy includes all BUT which of the following "usage" categories: A)Retail B)Long-Hauler C)Commercial D)Service - ANSWER- Long-Hauler Underwriting the BAP policy includes the following "usage" categories: retail, service, and commercial. True or False. The BAP includes $30 per day/$900 maximum Transportation Expense. - ANSWER- False The BAP includes $20 per day/$600 maximum Transportation Expense. A) Organized Racing B) Property in the insureds care, custody, or control C) Negligence D) Both A and B - ANSWER- D) Both A and B In the BAP Comprehensive covered perils include: a. Water Damage b. Glass Breakage c. Wind Damage d. Each of these are correct - ANSWER- d. Each of these are correct Your BAP insured has his truck damaged in an earthquake. He has Specified Causes of Loss coverage on the vehicle. Is the earthquake damage covered? (a) Yes, earthquake is a specified cause of loss. (b) No, only specified causes of loss are covered. (c) No, earthquake damage is covered only under Comprehensive coverage. (d) None of the above. - ANSWER- A. Yes, earthquake is a specified cause of loss. The BAP's Section || Liability coverage does not apply to: (a) Negligence (b) Employee Injuries (c) Both A and B (d) Neither A or B - ANSWER- B. Employee Injuries Under the Section ||| of the BAP insuring agreement, the company agrees to pay for _____ and ___ loss. A) Indirect and Intentional B) Direct and Accident C) Obvious and Overture D) None of these apply - ANSWER- B) Direct and Accident Section || of the Garage Policy excludes: A) Liability assumed under contract B) Employee Injuries C) Liability for pollution or contamination D) All of the above - ANSWER- D) All of the above The Garage Policy endorsement, "Dealers Drive-Away Collision" provides coverage for: A) Product liability for the insured's own product/work B) Autos being driven/transported 50 miles or further from the point of purchase or distribution C) Against loss from acquiring an auto from someone who does not have legal title or voluntarily parting with a covered auto by trick or scheme D) None of the above - ANSWER- B) Autos being driven/transported 50 miles or further from the point of purchase or distribution Your insured advises you they wish to have liability coverage for all autos they own. #1771 and they tell you that they change vehicles frequently throughout the year. Which symbol do you use for this flexible coverage? A) Symbol 1 B) Symbol 2 C) Symbol 3 D) Symbol 7 - ANSWER- B) Symbol 2 Your insured advises you they wish to have liability coverage for all autos they own. #1772 The insured tells you that all insured vehicles will be of the private passenger type(they also advise vehicles are changed frequently throughout the year).Which symbol do you use for this flexible coverage? A)Symbol 1 B)Symbol 2 C)Symbol 3 D)Symbol 7 - ANSWER- C)Symbol 3 The Garage Policy endorsement, "False Pretense" provides coverage for: A) Product liability for the insured's own product/work B) Autos being driven/transported 50 miles or further from the point of purchase or distribution C) Loss from acquiring an auto from someone who does not have legal title or voluntarily parting with a covered auto by trick or scheme D) None of the above - ANSWER- C) Loss from acquiring an auto from someone who does not have legal title or voluntarily parting with a covered auto by trick or scheme Terrific Transmissions and Brakes, your Garage policy insured, has suffered damaged to their flatbed truck in an earthquake. They have Specified Causes of Loss coverage and Symbol 22 on their policy's Declaration page. Is the earthquake damage covered? A) Yes, earthquake is a specified cause of loss B) No, only specified causes of loss are covered C) No, earthquake damage is covered only under Comprehensive coverage D) None of the above - ANSWER- A) Yes, earthquake is a specified cause of loss The BAP's drive Other Car Coverage: - ANSWER- D) None of these Apply legally must pay as damages because of _____' or ______' to which this insurance applies caused by an 'accident' and resulting from 'garage operations'. bodily injury or property damage - ANSWER- Kool Cargo Vans, your garage policy holder , has suffered hail damage to most of the vehicles on their sales lot. Symbol 31 is listed on their declerations page showing collision and specified causes of loss coverages. Is the hail damage covered - ANSWER- Yes, hail is a specified cause of loss Your insured has a BAP and wants to know if Section II Liability provides coverage for completed operations... A) You advise your client that completed operations are covered B) You advise your client that completed operations are NOT covered C) You advise your client that the policy does not address completed operations in any manner D) None of these apply - ANSWER- B) You advise your client that completed operations are NOT covered The Basic Form Causes of Loss perils include: a) riot or civil commotion b) earth movement c) both a and b d) neither a or b - ANSWER- a) riot or civil commotion The commercial property insurance policy requires a __ day notice for non-payment of premium a) 10 b) 30 c) 60 d) 90 - ANSWER- a) 10 The commercial property policy's optional endorsement, "building ordinance coverage". a) covers loss due to ordinance or law requirement to demolish undamaged portions of b) Covers fluctuating c) Covers peak d) None of the above - ANSWER- a) covers loss due to ordinance or law requirement to demolish undamaged portions of The commercial property coverage extension, none-owned detached trailers, pays on an excess basis up to $___ for non-owned trailers used in the insured's business at the insured location. A) $500 B) $5,000 C) $50,000 D) No stated limit - ANSWER- B) $5,000 Basic, Broad, and special form causes of loss EXCLUDE: A) Loss from Utility Service Failure B) Flood, Rising Waters, Mudslides, Back-up Water through Sewers or Drains C) Both A and B D) Neither A or B - ANSWER- C) Both A and B The Basic Form Cause of Loss perils include: A) Fire B) Smoke C) Riot or Civil Commotion D) All of the above - ANSWER- D) All of the above The Commercial Property policy form Territory includes which of the following? A) Canada B) United States C) Mexico D) Puerto Rico - ANSWER- A) Canada B) United States D) Puerto Rico In the Commercial Property policy's Additional Coverage Extensions there is an annual limit of $___ coverage for Fungus, Wet Rot, and Bacteria. A) $1,500 B) $15,000 C) $150,000 D) No stated limit - ANSWER- B) $15,000 The Special Form Cause of Loss form EXCLUDES: A) Dishonesty of insured or employees B) Rust, decay, and deterioration C) Loss to property in the open from rain, snow, ice, or sleet D) All of the above - ANSWER- D) All of the above Subrogation can be waived if: A) Written waiver is exercised prior to loss B) After loss if given to another insured C) Both A & B D) Neither A or B - ANSWER- C) Both A & B In the Business Income policy the period of restoration begins how many hours after the date of direct damage. A) 24 B) 48 C) 72 The Commercial Property Insurance policy requires a 10 day notice for non-payment of premium. A) True B) False - ANSWER- A) True The Commercial Property policy's Optional Coverage "Agreed Value": A) $1,000 B) $2,500 C) $5,000 x D) $10,000 - ANSWER- The Commercial Property policy's Optional Coverage, "Replacement Cost": A) Provides an annual percentage increase in coverage B) Waives the Coinsurance condition C) States the policy will pay for replacement of new building and personal property, Insured has 180 days to replace and notify insurer of replacement D) None of the Above - ANSWER- C In the Commercial Property policy "Debris Removal" is covered up to ___% of the amount of the covered loss of debris removal. A) 5% B) 25% C) 75% D) None of the aboce - ANSWER- B) 25% The Commercial Builders Risk Coverage Form insures buildings in the course of construction including: A) Foundations, Fixtures and machinery B) Equipment to service the building C) Owned materials and supplies used for construction D) All of the above - ANSWER- D) All of the above The Special Form Cause of Loss form EXCLUDES: A) Wear and Tear B) Acts or decisions of a governmental body C) Temperature changes D) All of the Above - ANSWER- D) Each of these are correct The Commercial Builders Risk Coverage Form terminates: A) 90 days after construction is completes B) When the property is sold, abandoned or ownership is transferred C) 60 days after the building is occupied or put to its intended use D) All of the above - ANSWER- D) All of the above The three causes of Loss Forms are: (1) Basic, (2) Broad , or (3) General. A) True B) False - ANSWER- B) False The Business Income coverage option "Agreed Value" A) Eliminates coinsurance but limits the recoverable amount during any 30 day period to a selected fraction (1/16, 1/14, 1/13) B) Eliminates coinsurance by agreeing to stated value of net income/loss and operating expense C) Up to 365 days of Additional Coverage beyond the 30-day extended period D) Eliminates coinsurance but limits the coverage to 100 (applies to extra expense and business income) - ANSWER- B) Eliminates coinsurance by agreeing to stated value of net income/loss and operating expense The Broad Form Cause of Loss perils include: A) Falling Objects B) Weight of Ice, snow or sleet C) Fungus, Wet Rot, Dry Rot, and Bacteria D) A and B - ANSWER- D) A and B The Commercial Property coverage extension, Non-Owned Detached Trailers, pays on an excess basis up to $___ for non-owned trailers used in the insured's business at the insured location. A) $500 B) $5,000 C) $50,000 D) No Stated Limit - ANSWER- B) $5,000 In the Commercial Property Insurance coverage form building coverage includes materials, equipment, and supplies within 100 feet of the premises. A) True B) False - ANSWER- A) True Basic, Broad, and Special Forms Causes of Loss EXCLUDE which of the following: A) Building Ordinance or Law B) Fungus, Wet Rot, Dry Rot, and Bacteria C) Damage to wiring or devices caused by Artificial Generated Electrical D) Each of these are correct - ANSWER- D) Each of these are correct The Commercial Property coverage extension "Automatic Coverage" pays: up to $___ for new buildings under construction at the insured premises or buildings acquired at another premises. A) $100,000 B) $200,000 C) $250,000 D) None of the above - ANSWER- C) 250,000 C)Commissioned real estate agents D)All of the above - ANSWER- D)All of the above Part Two Employers Liability of a Florida Workers Compensation policy covers: #2906 A)Claims by employees for injuries not subject to workers compensation law B)Claims by other for the liabilities to insured's employees C)Claims by relatives of injured employees for consequential damages D)All of the above - ANSWER- D)All of the above Under Florida's Workers' Compensation laws what is the maximum daily fine #2868as a penalty for non-compliance? A)$1,000 fine each day of non-compliance B)$2,500 fine each day of non-compliance C)$5,000 fine each day of non-compliance D)any of the above as there is no set limit - ANSWER- A)$1,000 fine each day of non-compliance Kardio Kids is a non-profit organization whose mission is to reach kids with the #2854message of "fitness for life". Kardio's founder Karen Kelly utilizes a network of volunteers to deliver Kardio's message (Kardio has no employees). Is Kardio required to carry Workers Compensation insurance to cover the volunteers? A)Yes, the Florida Workers' Compensation laws consider volunteers to be employees B)Yes, but the law requires three or more voluteers C)Yes, but the law requires the volunteers to b - ANSWER- D)No, volunteers are excluded from consideration of Workers Compensation Which of the following are EXCLUSIONS to Part Two Employers Liability in the #2904Florida Workers Compensation policy? A)Injuries intentionally caused by the insured B)Liability assumed under contract C)Both A and B D)Neither A or B - ANSWER- C)Both A and B Under Florida's Workers' Compensation laws the obligation of the employer is to #2880furnish any and all usual, customary, and reasonable medical care with ____________dollar limitation for medical expenses. A)$1,000,000 B)$2,000,000 C)$5,000,000 D)Unlimited for medical expenses - ANSWER- D)Unlimited for medical expenses Carter Ken has been injured in the course and scope of his employment while operating #2907a motor vehicle. The other motorists has been determined to be responsible for Mr. Ken's injuries. Is Mr. Ken's only remedy the Workers Compensation provided by his employer? A)Mr. Ken's sole remedy is his company's Workers Compensation insurance B)Mr. Ken can collect under his company's Workers Compensation OR he can make a claim against the responsible motorists C)Mr. Ken must make a claim against his o - ANSWER- B)Mr. Ken can collect under his company's Workers Compensation OR he can make a claim against the responsible motorists True or False: Workers Compensation rating is based on an employer's gross revenue. #2914 A)True B)False - ANSWER- B) False You currently insure Susie's Sock Emporium on a BOP. When you inquire as to her #2870Workers Compensation you reveal that Susie has fourteen employees but does not carry Workers Compensation. You advise Susie that she may be subject to ALL but which of the following penalties for not complying with Florida's Workers Compensation requirements? A)her business may be found guilty of a third-degree felony B)Susie's Sock Emporium can be shut down C)Susie's Sock Emporium may be subject to a $1,000 pe - ANSWER- D)all of the above Employee action against negligent third parties is extinguished #2908by Workers Compensation. A) True B) False - ANSWER- B) False The Florida law defines an employer as one who must secure benefits for employees #2855 as every person carrying on any: A) Employment B) Team C) Industrial D) None of the above - ANSWER- A) Employment Part One Workers Compensation: #2900 A)Covers the cost of defending the employer against a claim for these benefits B)Requires the employer to be responsible for any payments in excess of those regularly provided by the applicable workers compensation laws C)Both A & B D)Neither A or B - ANSWER- C) Both A & B Prime Printing Plus, your Workers Compensation insured, has called you to ask #2892how much coverage is afforded under their policy for True or False: Crime coverage on a Discovery basis will cover a loss which occurred #1945 prior to its inception if reported during the policy term. A)True B)False - ANSWER- A)True The insured has a Crime policy form and has suffered a loss by governmental action. #1919Is this loss covered? A)Covered B)Not Covered - ANSWER- A)Covered True or False: The Crime policy is primary over any other recoverable insurance. #1949 A)True B)False - ANSWER- B)False Crime coverage "Money Orders And Counterfeit Paper Currency" covers: #1932 A)Loss of money and securities resulting from theft, disappearance, or destruction B)Worldwide coverage of loss of money, securities and other property by use of a computer to fraudulently convert assets C)Loss resulting from receiving payment with counterfeit currency or money orders D)None of the above - ANSWER- C)Loss resulting from receiving payment with counterfeit currency or money orders Crime coverage Forgery or Alteration covers: #1934 A)Loss by forgery or alteration of negotiable instruments, such as checks, drafts, promissory notes or similar instruments drawn by or drawn upon the named insured B)Loss of or damage to money, securities, and other property resulting from theft committed by an employee C)Loss of money, securities, and property outside the premises in the care, custody and control of a messenger or armored car D)None of the above - ANSWER- A)Loss by forgery or alteration of negotiable instruments, such as checks, drafts, promissory notes or similar instruments drawn by or drawn upon the named insured The Crime policy Discovery Form covers: #1941 A)Losses that both occurred and were discovered during the policy period, or within four years of its expiration B)Losses discovered during the policy period or within 60 days after its expiration are covered regardless of when the loss occurred C)Both A & B D)Neither A or B - ANSWER- B)Losses discovered during the policy period or within 60 days after its expiration are covered regardless of when the loss occurred The Crime policy values: #1952 A)Money at its face value B)Securities at their face value C)Other property at its face value D)All of the above - ANSWER- A)Money at its face value This Crime primary coverage covers worldwide loss of money, securities and #1927other property by use of a computer to fraudulently convert assets: A)Inside The Premises- Theft of Money and Securities B)Computer Fraud C)Money Orders And Counterfeit Paper Currency D)Forgery or Alteration - ANSWER- B)Computer Fraud The insured has a Crime policy form and has suffered a theft of money at the #1925 insured premises. Is this loss covered? A)Covered B)Not Covered - ANSWER- A)Covered The Crime policy is excess over any other insurance. #1948 A)True B)False - ANSWER- A)True Your insured has suffered a compensable Crime loss with the cost to repair less #1957 than the replacement cost of the stolen property. How will the policy respond? A)The policy will pay Actual Cash Value B)The policy will pay Replacement Cost Value C)The policy will pay the lesser of Replacement Cost Value or the cost to repair. D)None of the above - ANSWER- C)The policy will pay the lesser of Replacement Cost Value or the cost to repair. The Crime policy covers: #1950 A)Property of the named insured B)Property in the custody of the named insured C)Property for which the named insured is legally liable D)All of the above - ANSWER- D)All of the above This Crime coverage endorsement covers the named insured's legal liability as #1939 custodian of guest property: A)Extortion B)Funds Transfer Fraud C)Safe Depository D)Guest Property - ANSWER- D)Guest Property The Crime policy Loss Sustained Form covers: #1940 A)Losses that both occurred and were discovered during the policy period, or within one year of its expiration B)Losses discovered during the policy period or within four years after its expiration are covered regardless of when the loss occurred D)Forgery or Alteration - ANSWER- C)Money Orders And Counterfeit Paper The Crime policy values: #1953 A)Money at its face value B)Securities at their value the day any loss is discovered C)Both A and B D)Neither A or B - ANSWER- C)Both A and B The insured has a Crime policy form and has suffered a loss by an act committed #1918 by an insured partner. Is this loss covered? A)Covered B)Not Covered - ANSWER- B)Not Covered Crime coverage "Employee Theft" covers: #1935 A)Loss by forgery or alteration of negotiable instruments, such as checks, drafts, promissory notes or similar instruments drawn by or drawn upon the named insured B)Loss of or damage to money, securities, and other property resulting from theft committed by an employee C)Loss of money, securities, and property outside the premises in the care, custody and control of a messenger or armored car D)None of the above - ANSWER- B)Loss of or damage to money, securities, and other property resulting from theft committed by an employee Your insured has suffered a compensable Crime loss with the cost to repair less #1957 than the replacement cost of the stolen property. How will the policy respond? A)The policy will pay Actual Cash Value B)The policy will pay Replacement Cost Value C)The policy will pay the lesser of Replacement Cost Value or the cost to repair. D)None of the above - ANSWER- C)The policy will pay the lesser of Replacement Cost Value or the cost to repair. The insured has a Crime policy form and has suffered a loss by an act committed #1917 by an employee. Is this loss covered? A)Covered B)Not Covered - ANSWER- A)Covered The Discovery basis Crime coverage form will cover a loss which occurred prior #1946 to its inception if: A)Reported during the policy term B)If the retro date on the policy precedes the date of loss C)Both A & B D)Neither A or B - ANSWER- A)Reported during the policy term The Crime policy values: #1954 A)Securities at their face value B)Other property at its face value C)Both A and B D)Neither A or B - ANSWER- B)Other property at its face value