Florida Property & Casualty Insurance Complete Exam
Prep Companion 2026/2027
⭐ Premium Updated Edition | Complete Questions with
Correct Detailed Answers | Built for Exam Success
Achieve your study goals with this Complete Exam Prep Companion (2026/2027 Edition)—a
comprehensive and student-friendly resource designed to help you prepare efficiently and
perform confidently in your exams.
This guide features complete exam questions with correct detailed answers, carefully
organized to reflect real exam formats and frequently tested concepts. Each answer includes
clear, easy-to-understand explanations that help reinforce learning and improve retention.
🔥 Key Features
✔ Comprehensive exam-style questions covering important topics
✔ Correct answers with detailed explanations for deeper understanding
✔ Focused review of commonly tested concepts
✔ Clean and organized structure for faster revision
✔ Latest updated version (2026/2027) for accurate preparation
🚀 Why Students Love This Guide
This study guide is designed to help you:
• Study more efficiently and save time
• Strengthen understanding of key concepts
• Practice with realistic exam questions
• Improve confidence and exam readiness
• Review material quickly before test day
🎯 Ideal For
,• Certification and licensing exams
• Midterm and final exam preparation
• Self-paced learning and revision
• Last-minute review sessions
• Improving academic and professional performance
📚 A complete and effective study resource designed to help you prepare smarter, stay
confident, and achieve exam success.
The FAJUA is composed of: -ANSWER✅✅✅All companies licensed to write auto
insurance in Florida
A coverage that is similar to premises and operations coverage in the Commercial
General Liability Policy covering bodily injury and property damage liability for aviation
risks is defined as: -ANSWER✅✅✅Airport and Air Meet Liability
Homeowners HO-3 policy - severe theft loss. Coverage A limit is $100,000. Insured
losses include $25,000 furniture, clothing and other ordinary personal property plus
$5,000 damage to guns and $5,000 damage to jewelry, furs. Insured will recover: -
ANSWER✅✅✅$29,000 less any deductible
Each of the following divisions falls under The Department of Financial Services
EXCEPT? -ANSWER✅✅✅The Division of Consumer Activities
Which of the following provides for loss of money and securities outside the premises in
the care, custody and control of a messenger or armored car service resulting from
theft, disappearance, or destruction? -ANSWER✅✅✅Outside the Premises
What is the standard All Perils deductible in the Commercial Property Policy? -
ANSWER✅✅✅$500
Which of the following best describes a "Controlled" Inland Marine Form? -
ANSWER✅✅✅Standard provisions form is written according to filed rules and rates
Under a Personal Articles Floater, which of the following is covered as valued property?
-ANSWER✅✅✅Fine Arts
,Under the Dwelling Program forms, vandalism is not covered after the building has been
vacant for how many days? -ANSWER✅✅✅60 days
Under a Commercial General Liability Contract, how many days notice of cancellation
must the insurer provide for non-payment of premium? -ANSWER✅✅✅10
Under Additional Coverages, how much applies for loss assessments imposed by an
association against the insured for damage to property caused by a peril insured
against under Coverage A? -ANSWER✅✅✅$1,000
The following are basic characteristics of a Property or Liability Insurance Contract
EXCEPT: -ANSWER✅✅✅Loss Settlement Contract
Rob has PIP with a $1,000 deductible. He has an auto accident causing $6,000 in
medical bills. How much will his PIP pay? -ANSWER✅✅✅$4,000
- $6,000 - $1,000 deductible = $5,000 x 80% = $4,000
QRS Construction Company wants to provide the local school district with a price for
building a new grammar school. In order to accept the price, the school board needs a
bond that would pay the difference between QRS's price and the next highest price.
What kind of bond does QRS need to provide to the school district? -
ANSWER✅✅✅Bid bond
- The Bid Bond is required to accompany a bid for a contract which will require that the
successful bidder furnish further bond if awarded the job. The guarantee is that if the bid
is accepted, the bidder will enter into the contract and will satisfy further bonding
requirements for the job
Which of the following guarantees the payment of materials in full upon completion of
the work? -ANSWER✅✅✅Payment Bond
Which of the following events would be covered under an HO-3? I. A sewer line became
clogged and the toilet in the house backed up and overflowed, damaging the carpet. II.
Wind blew a front door open and rain damaged the carpet. III. The neighbor's German
Shepard damaged the garage doorframe while trying to get in the insured's garage to
eat the dog food stored there. -ANSWER✅✅✅II and III only
All of the following are located on a Boiler and Machinery Coverage form EXCEPT: -
ANSWER✅✅✅Exhibits
The Motor Truck Cargo Policy: -ANSWER✅✅✅Insures a truck carrier for liability
arising out of the transportation of cargo.
All of the following are types of property that can be covered under a Personal Articles
Floater EXCEPT: -ANSWER✅✅✅Firearms
, What is the standard deductible for Employee Theft coverage? -ANSWER✅✅✅$500
The Forgery or Alteration coverage under a Businessowners Policy is: -
ANSWER✅✅✅$2,000
How many hours of continuing education is a newly licensed agent required to have for
their first Continuing Education compliance period? -ANSWER✅✅✅24
Which of the following is NOT true regarding sole proprietors and partners in the non-
construction industry as they relate to Workers Compensation? -ANSWER✅✅✅A
maximum of three can elect to be covered
Which of the following is not a way to purchase Uninsured Motorist Coverage? -
ANSWER✅✅✅More than your bodily injury limits
Camden's Wood Shop will be dropping off new cabinets at a jobsite on Monday, but will
not actually install them until Tuesday. What kind of policy will they need to cover any
loss to the cabinets? -ANSWER✅✅✅Installation Floater
This Hospital Form applies with "medical incident" defined as an act or omission in
furnishing of professional services related to making of a blood donation under the
supervision of the insured: -ANSWER✅✅✅Blood Banks
Which of the following is not a valid deductible for hurricane in the Dwelling program? -
ANSWER✅✅✅1%
If a loss occurs under the Building and Personal Property Coverage Form with the
optional replacement cost provision, how long does the insured have to give intent to
replace the damaged item in order to receive replacement cost adjustment? -
ANSWER✅✅✅180
Which of the following is NOT a common deductible in an Aircraft Hull Policy? -
ANSWER✅✅✅2%
How many insuring agreements are there in a Commercial Crime Policy? -
ANSWER✅✅✅7
Barry was driving his car in Florida where he has lived all his life when he is hit by an at-
fault driver. Barry has $10,000 in medical bills, basic PIP with a $1,000 deductible and
no medical payments coverage. How much will the at-fault driver have to pay for Barry's
injuries? -ANSWER✅✅✅$2,800
- $10,000 - $1,000 = $9,000 x 80% = $7,200, the amount paid out by PIP. Barry can
hold the at-fault driver responsible for the difference of PIPs maximum limit of $10,000
and the $7,200, which is $2,800
Prep Companion 2026/2027
⭐ Premium Updated Edition | Complete Questions with
Correct Detailed Answers | Built for Exam Success
Achieve your study goals with this Complete Exam Prep Companion (2026/2027 Edition)—a
comprehensive and student-friendly resource designed to help you prepare efficiently and
perform confidently in your exams.
This guide features complete exam questions with correct detailed answers, carefully
organized to reflect real exam formats and frequently tested concepts. Each answer includes
clear, easy-to-understand explanations that help reinforce learning and improve retention.
🔥 Key Features
✔ Comprehensive exam-style questions covering important topics
✔ Correct answers with detailed explanations for deeper understanding
✔ Focused review of commonly tested concepts
✔ Clean and organized structure for faster revision
✔ Latest updated version (2026/2027) for accurate preparation
🚀 Why Students Love This Guide
This study guide is designed to help you:
• Study more efficiently and save time
• Strengthen understanding of key concepts
• Practice with realistic exam questions
• Improve confidence and exam readiness
• Review material quickly before test day
🎯 Ideal For
,• Certification and licensing exams
• Midterm and final exam preparation
• Self-paced learning and revision
• Last-minute review sessions
• Improving academic and professional performance
📚 A complete and effective study resource designed to help you prepare smarter, stay
confident, and achieve exam success.
The FAJUA is composed of: -ANSWER✅✅✅All companies licensed to write auto
insurance in Florida
A coverage that is similar to premises and operations coverage in the Commercial
General Liability Policy covering bodily injury and property damage liability for aviation
risks is defined as: -ANSWER✅✅✅Airport and Air Meet Liability
Homeowners HO-3 policy - severe theft loss. Coverage A limit is $100,000. Insured
losses include $25,000 furniture, clothing and other ordinary personal property plus
$5,000 damage to guns and $5,000 damage to jewelry, furs. Insured will recover: -
ANSWER✅✅✅$29,000 less any deductible
Each of the following divisions falls under The Department of Financial Services
EXCEPT? -ANSWER✅✅✅The Division of Consumer Activities
Which of the following provides for loss of money and securities outside the premises in
the care, custody and control of a messenger or armored car service resulting from
theft, disappearance, or destruction? -ANSWER✅✅✅Outside the Premises
What is the standard All Perils deductible in the Commercial Property Policy? -
ANSWER✅✅✅$500
Which of the following best describes a "Controlled" Inland Marine Form? -
ANSWER✅✅✅Standard provisions form is written according to filed rules and rates
Under a Personal Articles Floater, which of the following is covered as valued property?
-ANSWER✅✅✅Fine Arts
,Under the Dwelling Program forms, vandalism is not covered after the building has been
vacant for how many days? -ANSWER✅✅✅60 days
Under a Commercial General Liability Contract, how many days notice of cancellation
must the insurer provide for non-payment of premium? -ANSWER✅✅✅10
Under Additional Coverages, how much applies for loss assessments imposed by an
association against the insured for damage to property caused by a peril insured
against under Coverage A? -ANSWER✅✅✅$1,000
The following are basic characteristics of a Property or Liability Insurance Contract
EXCEPT: -ANSWER✅✅✅Loss Settlement Contract
Rob has PIP with a $1,000 deductible. He has an auto accident causing $6,000 in
medical bills. How much will his PIP pay? -ANSWER✅✅✅$4,000
- $6,000 - $1,000 deductible = $5,000 x 80% = $4,000
QRS Construction Company wants to provide the local school district with a price for
building a new grammar school. In order to accept the price, the school board needs a
bond that would pay the difference between QRS's price and the next highest price.
What kind of bond does QRS need to provide to the school district? -
ANSWER✅✅✅Bid bond
- The Bid Bond is required to accompany a bid for a contract which will require that the
successful bidder furnish further bond if awarded the job. The guarantee is that if the bid
is accepted, the bidder will enter into the contract and will satisfy further bonding
requirements for the job
Which of the following guarantees the payment of materials in full upon completion of
the work? -ANSWER✅✅✅Payment Bond
Which of the following events would be covered under an HO-3? I. A sewer line became
clogged and the toilet in the house backed up and overflowed, damaging the carpet. II.
Wind blew a front door open and rain damaged the carpet. III. The neighbor's German
Shepard damaged the garage doorframe while trying to get in the insured's garage to
eat the dog food stored there. -ANSWER✅✅✅II and III only
All of the following are located on a Boiler and Machinery Coverage form EXCEPT: -
ANSWER✅✅✅Exhibits
The Motor Truck Cargo Policy: -ANSWER✅✅✅Insures a truck carrier for liability
arising out of the transportation of cargo.
All of the following are types of property that can be covered under a Personal Articles
Floater EXCEPT: -ANSWER✅✅✅Firearms
, What is the standard deductible for Employee Theft coverage? -ANSWER✅✅✅$500
The Forgery or Alteration coverage under a Businessowners Policy is: -
ANSWER✅✅✅$2,000
How many hours of continuing education is a newly licensed agent required to have for
their first Continuing Education compliance period? -ANSWER✅✅✅24
Which of the following is NOT true regarding sole proprietors and partners in the non-
construction industry as they relate to Workers Compensation? -ANSWER✅✅✅A
maximum of three can elect to be covered
Which of the following is not a way to purchase Uninsured Motorist Coverage? -
ANSWER✅✅✅More than your bodily injury limits
Camden's Wood Shop will be dropping off new cabinets at a jobsite on Monday, but will
not actually install them until Tuesday. What kind of policy will they need to cover any
loss to the cabinets? -ANSWER✅✅✅Installation Floater
This Hospital Form applies with "medical incident" defined as an act or omission in
furnishing of professional services related to making of a blood donation under the
supervision of the insured: -ANSWER✅✅✅Blood Banks
Which of the following is not a valid deductible for hurricane in the Dwelling program? -
ANSWER✅✅✅1%
If a loss occurs under the Building and Personal Property Coverage Form with the
optional replacement cost provision, how long does the insured have to give intent to
replace the damaged item in order to receive replacement cost adjustment? -
ANSWER✅✅✅180
Which of the following is NOT a common deductible in an Aircraft Hull Policy? -
ANSWER✅✅✅2%
How many insuring agreements are there in a Commercial Crime Policy? -
ANSWER✅✅✅7
Barry was driving his car in Florida where he has lived all his life when he is hit by an at-
fault driver. Barry has $10,000 in medical bills, basic PIP with a $1,000 deductible and
no medical payments coverage. How much will the at-fault driver have to pay for Barry's
injuries? -ANSWER✅✅✅$2,800
- $10,000 - $1,000 = $9,000 x 80% = $7,200, the amount paid out by PIP. Barry can
hold the at-fault driver responsible for the difference of PIPs maximum limit of $10,000
and the $7,200, which is $2,800
