FLORIDA STATUTES RULES AND REGULATIONS
COMMON ASSESSMENT TEST 2026 TESTED
QUESTIONS WITH FULL SOLUTION GRADED
A+
◉ What does home refer to in insurance? Answer: insurer's
headquarters, principal place of business
◉ What is the purpose of an inducement? Answer: offer an attempt
to influence the other party
◉ reciprocity Answer: mutual interchange of rights and privileges
◉ What is a statute? Where can they be found in the insurance
industry? Answer: formal written enacted by legislature; insurance
statutes can be found in state insurance code
◉ Subpoena Answer: order for someone to appear as witness or
submit testimony or evidence
◉ certificate of authority Answer: document authorizing company to
stat conducting business; specifies type of insurance company can
transact
,◉ What type of insurance can be obtained through a surplus lines
insurer? Answer: coverage that is unavailable through authorized
insurers
◉ The time limit on certain defenses provision in health policies
deals with which of the following? Answer: waiting and elimination
periods
◉ For cancellation of a commercial property policy during the first
90 days, for a reason other than nonpayment of premium, the
insurer must give the insured advance written notice of at least how
many days? Answer: 20 days because it is a reason other than
nonpayment of premium within the first 90 days
◉ When an insurer plans to nonrenew a commercial property
insurance policy, it must give the policyholder a written notice of its
intent to nonrenew at least how many days in advance? Answer: 45
days
◉ If an insurer intends to cancel an auto insurance policy for
nonpayment of premium, within how many days of the cancellation
must the insurer provide a notice to the insured? Answer: 10 das
becasue the reason is nonpayment of premium, regardless of how
long it has been
, ◉ An insured's driver's license was revoked 90 days after his auto
insurance policy was issued. If the insurer chooses to cancel the auto
insurance policy, it must give the insured a minimum of how many
days' notice? Answer: 45 days
◉ Within how many days must a property insurer pay on a claim
after the settlement is reached? Answer: 20 days after settlement is
reached
◉ In Florida, no-fault laws exempt an at-fault motorist who causes
injury to another from suits for recovery for noneconomic losses,
such as pain and suffering, unless... Answer: there is permanent
injury
◉ What types of structures are eligible for coverage in the Citizens
Property Insurance corporation? Answer: all types of structures,
including mobile homes if they are tied down with statutory
requirements
◉ In FL, if a cancellation or termination of insurance occurs in the
first 90 days due to a reason other than nonpayment how many days
advanced notice is the insurer required to give? Answer: 20 days
◉ For a general lines agent in FL what is the per installment
maximum price they can charge for financial insurance premium
service charges? Answer: $3 per installment
COMMON ASSESSMENT TEST 2026 TESTED
QUESTIONS WITH FULL SOLUTION GRADED
A+
◉ What does home refer to in insurance? Answer: insurer's
headquarters, principal place of business
◉ What is the purpose of an inducement? Answer: offer an attempt
to influence the other party
◉ reciprocity Answer: mutual interchange of rights and privileges
◉ What is a statute? Where can they be found in the insurance
industry? Answer: formal written enacted by legislature; insurance
statutes can be found in state insurance code
◉ Subpoena Answer: order for someone to appear as witness or
submit testimony or evidence
◉ certificate of authority Answer: document authorizing company to
stat conducting business; specifies type of insurance company can
transact
,◉ What type of insurance can be obtained through a surplus lines
insurer? Answer: coverage that is unavailable through authorized
insurers
◉ The time limit on certain defenses provision in health policies
deals with which of the following? Answer: waiting and elimination
periods
◉ For cancellation of a commercial property policy during the first
90 days, for a reason other than nonpayment of premium, the
insurer must give the insured advance written notice of at least how
many days? Answer: 20 days because it is a reason other than
nonpayment of premium within the first 90 days
◉ When an insurer plans to nonrenew a commercial property
insurance policy, it must give the policyholder a written notice of its
intent to nonrenew at least how many days in advance? Answer: 45
days
◉ If an insurer intends to cancel an auto insurance policy for
nonpayment of premium, within how many days of the cancellation
must the insurer provide a notice to the insured? Answer: 10 das
becasue the reason is nonpayment of premium, regardless of how
long it has been
, ◉ An insured's driver's license was revoked 90 days after his auto
insurance policy was issued. If the insurer chooses to cancel the auto
insurance policy, it must give the insured a minimum of how many
days' notice? Answer: 45 days
◉ Within how many days must a property insurer pay on a claim
after the settlement is reached? Answer: 20 days after settlement is
reached
◉ In Florida, no-fault laws exempt an at-fault motorist who causes
injury to another from suits for recovery for noneconomic losses,
such as pain and suffering, unless... Answer: there is permanent
injury
◉ What types of structures are eligible for coverage in the Citizens
Property Insurance corporation? Answer: all types of structures,
including mobile homes if they are tied down with statutory
requirements
◉ In FL, if a cancellation or termination of insurance occurs in the
first 90 days due to a reason other than nonpayment how many days
advanced notice is the insurer required to give? Answer: 20 days
◉ For a general lines agent in FL what is the per installment
maximum price they can charge for financial insurance premium
service charges? Answer: $3 per installment
