FLORIDA 2 15 INSURANCE LICENSE FINAL
PAPER 2026 COMPLETE QUESTIONS AND
ANSWERS WITH RATIONALES GRADED A+
⩥ Omicron Corporation currently does business in Colorado, Nebraska,
and Kansas. These states are listed in Item 3.A on the Information Page
of Omicron's Workers Compensation and Employers Liability Insurance
Policy. The company is hoping to expand its operations into Utah,
Arizona, and New Mexico during the next year. Which one of the
following statements is correct with respect to workers compensation
insurance in the states where Omicron hopes to expand?
Answer: Omicron should include Utah, Arizona, and New Mexico in
Item 3.C on the Information Page and advise the insurer immediately if
the company begins operations in any of those states.
⩥ Which one of the following would be covered under Part Two of the
Workers Compensation and Employers Liability Insurance Policy?
Answer: An employee is exposed to disease during the policy period but
symptoms don't appear until after the employee is fired.
⩥ With only a few exceptions, the premium base for workers
compensation insurance is
Answer: Payroll
,⩥ Which one of the following statements about employers liability
coverage is true?
Answer: It does not cover punitive damages for injury or death of any
illegally employed person.
⩥ An employer that decides to purchase specific excess insurance to
cover catastrophic workers compensation losses must pay losses that are
which one of the following?
Answer: Up to the retention for one occurrence.
⩥ When a worker is required to travel to another state and is injured in
that other state, which one of the following is a typical consideration in
determining which state's law applies for the purpose of determining
workers compensation coverage?
Answer: The worker's place of residence
⩥ Which one of the following must an insurer pay on behalf of the
insured according to Part One of the Workers Compensation and
Employers Liability Insurance Policy?
Answer: Medical payments for a claimant who was exposed to a disease
during the policy period but filed a claim two years after retiring
⩥ Before workers compensation statutes were enacted, what was the
remedy for employees with work-related injuries?
,Answer: They had to establish that the employer was at fault to recover
damages.
⩥ Which one of the following statements is correct with respect to
workers compensation premium adjustment through dividend plans?
Answer: Under a sliding-scale dividend plan, the size of the dividend
varies with the insured's own loss experience.
⩥ Which one of the following statements is true with regard to workers
compensation statutes?
Answer: Federal government workers are excluded from workers
compensation because they are covered under alternate plans.
⩥ Crime loss exposures of financial institutions are covered by financial
institution bonds. These policies were developed by
Answer: The Surety and Fidelity Association of America (SFAA).
⩥ Which one of the following is a type of covered property under
employee theft coverage?
Answer: Securities
⩥ The XYZ Finance Company is insured under an ISO Commercial
Crime policy. One month after the policy inception date, XYZ acquired
ownership of a smaller finance company including its premises and
employees. Which one of the following best describes XYZ's
, responsibility under the Consolidation—Merger or Acquisition condition
of the policy?
Answer: Coverage applies automatically for 90 days, but XYZ must
promptly notify the insurer and pay the appropriate additional premium
for coverage to continue beyond that time.
⩥ The WB Bank (WBB) uses several outside companies to help process
a large number of credit card transactions on a daily basis. WBB carries
an ISO Commercial Crime Form with a Computer Fraud insuring
agreement selected. After a recent audit, WBB becomes aware that a
significant number of credit card transactions have somehow
disappeared from the computer system. Which one of the following is
most likely true regarding coverage under the Computer Fraud insuring
agreement?
Answer: Coverage is excluded for credit or debit card transactions.
⩥ To coordinate with the Computer Fraud insuring agreement, the Funds
Transfer Fraud coverage provided by the Computer Fraud insuring
agreement of the ISO Commercial Crime Coverage Form excludes
Answer: Loss due to use of a computer to transfer money.
⩥ Entities eligible for financial institution bonds are
Answer: Not eligible for the ISO Commercial Crime Forms.
PAPER 2026 COMPLETE QUESTIONS AND
ANSWERS WITH RATIONALES GRADED A+
⩥ Omicron Corporation currently does business in Colorado, Nebraska,
and Kansas. These states are listed in Item 3.A on the Information Page
of Omicron's Workers Compensation and Employers Liability Insurance
Policy. The company is hoping to expand its operations into Utah,
Arizona, and New Mexico during the next year. Which one of the
following statements is correct with respect to workers compensation
insurance in the states where Omicron hopes to expand?
Answer: Omicron should include Utah, Arizona, and New Mexico in
Item 3.C on the Information Page and advise the insurer immediately if
the company begins operations in any of those states.
⩥ Which one of the following would be covered under Part Two of the
Workers Compensation and Employers Liability Insurance Policy?
Answer: An employee is exposed to disease during the policy period but
symptoms don't appear until after the employee is fired.
⩥ With only a few exceptions, the premium base for workers
compensation insurance is
Answer: Payroll
,⩥ Which one of the following statements about employers liability
coverage is true?
Answer: It does not cover punitive damages for injury or death of any
illegally employed person.
⩥ An employer that decides to purchase specific excess insurance to
cover catastrophic workers compensation losses must pay losses that are
which one of the following?
Answer: Up to the retention for one occurrence.
⩥ When a worker is required to travel to another state and is injured in
that other state, which one of the following is a typical consideration in
determining which state's law applies for the purpose of determining
workers compensation coverage?
Answer: The worker's place of residence
⩥ Which one of the following must an insurer pay on behalf of the
insured according to Part One of the Workers Compensation and
Employers Liability Insurance Policy?
Answer: Medical payments for a claimant who was exposed to a disease
during the policy period but filed a claim two years after retiring
⩥ Before workers compensation statutes were enacted, what was the
remedy for employees with work-related injuries?
,Answer: They had to establish that the employer was at fault to recover
damages.
⩥ Which one of the following statements is correct with respect to
workers compensation premium adjustment through dividend plans?
Answer: Under a sliding-scale dividend plan, the size of the dividend
varies with the insured's own loss experience.
⩥ Which one of the following statements is true with regard to workers
compensation statutes?
Answer: Federal government workers are excluded from workers
compensation because they are covered under alternate plans.
⩥ Crime loss exposures of financial institutions are covered by financial
institution bonds. These policies were developed by
Answer: The Surety and Fidelity Association of America (SFAA).
⩥ Which one of the following is a type of covered property under
employee theft coverage?
Answer: Securities
⩥ The XYZ Finance Company is insured under an ISO Commercial
Crime policy. One month after the policy inception date, XYZ acquired
ownership of a smaller finance company including its premises and
employees. Which one of the following best describes XYZ's
, responsibility under the Consolidation—Merger or Acquisition condition
of the policy?
Answer: Coverage applies automatically for 90 days, but XYZ must
promptly notify the insurer and pay the appropriate additional premium
for coverage to continue beyond that time.
⩥ The WB Bank (WBB) uses several outside companies to help process
a large number of credit card transactions on a daily basis. WBB carries
an ISO Commercial Crime Form with a Computer Fraud insuring
agreement selected. After a recent audit, WBB becomes aware that a
significant number of credit card transactions have somehow
disappeared from the computer system. Which one of the following is
most likely true regarding coverage under the Computer Fraud insuring
agreement?
Answer: Coverage is excluded for credit or debit card transactions.
⩥ To coordinate with the Computer Fraud insuring agreement, the Funds
Transfer Fraud coverage provided by the Computer Fraud insuring
agreement of the ISO Commercial Crime Coverage Form excludes
Answer: Loss due to use of a computer to transfer money.
⩥ Entities eligible for financial institution bonds are
Answer: Not eligible for the ISO Commercial Crime Forms.
