Florida 2-20 General Lines Study Manual 27th Edition top score 2024.

Florida 2-20 General Lines Study Manual 27th Edition top score 2024. 1.4 fQualifications ffor fGeneral fLines fLicense f- f f f fcorrect fanswer.1. f18 for folder 2. fresident fof fFL for fplace fof fbusiness fin fFL 3. fwill fbe factive fin fbusiness, fbusiness fis faccessible fand fidentifiable fby fpublic f 4. fnot flicensing ffor fwriting for fhandling fcontrolled fbusiness 5. fQualified fvia: fa) f200 fhr fcourse fb) fone fyear ffull ftime femployee fin fall flines fof fproperty fcasualty finsurance f fc) fone fyear fas fa fcustomer frep, fpersonal flines fagent, for fservice frep fand f40 fhr fcourse fd) fearned finsurance fdegree fthat fincludes f18 fhr fsemester fe) fheld fvalid fFL flicense ffor fatleast fa fyear f ff) fhave fan foriginal fletter ffrom fthe fAmerican fInstitute ffor fChartered fProperty fCasualty fUnderwriters 1.4 fQualifications ffor fGeneral fLicense fStatute f- f f f fcorrect fanswer.F.S. f626.371 f(3)(a), f626.381 Once flicensed, fyou fhave f48 fmonths fto fobtain fan fappointment f(the fauthority fgiven fby fan finsurer for femployer fto ftransact finsurance for fadjust fclaims). fIf fthe fappointment fis fsubmitted flate. fthe fappointing fentity fwill fbe fresponsible ffor fthe flate ffee fof f$250 fplus fthe fstatutory fappointment ffee fof f$60. fOnce fyour flicense fhas fgone fbeyond f48 fmonths fwithout fan fappointment, fyou fwill fhave fto fqualify fas fa ffirst-time fapplicant. 1.7 fDuties fand fFunctions fof fthe fDFS f- f f f fcorrect fanswer.The fDepartment fof fFinancial fServices 1. fSupervise fclaims factivities fof fvarious fcompanies fso fpolicyholders fmay fbe fassured fof ffair ftreatment fand fprompt fsettlement fof floss funder fa fpolicy 2. fInvestigate fcharges fof funethical fconduct fand ftake fjudicious factions fin fsuch fcases 3. fDFS fDivision fof fAgent fand fAgency fServices- fapproves fissuances fof flicenses fto fagents, fcustomer frepresentatives, fand fclaims fadjustors 1.7 fDuties fand fFunctions fof fOIR f- f f f fcorrect fanswer.The fOffice fof fInsurance fRegulation 1. fExamine fqualifications fof finsurance fcompanies fseeking fto fdo fbusiness fin fFL, fadmitting fthem fto fthe fstate fwhen fthey fhave fmet fthe frequirements, fand fthen fchecking ftheir ffinancial fcondition fperiodically f 2. fResponsible ffor finsurance fpolicy fforms, frules, fand fratings; fthey fapprove fforms fbefore fuse, fand freview fcompanies' frules fand frates fevery fso foften 1.7 fDuties fand fFunctions fof fOFR f- f f f fcorrect fanswer.The fOffice fof fFinancial fRegulation f 1. fProvides fregulatory foversight fto fFlorida ffinancial fservice fprovides flike fbanks, fcredit funions, ffinance fcompanies, fand fsecurity findustries f It fwas fcreated fin f2003 fand freports fto fthe fFinancial fService fCommission. fIt fhas fthree fdivisions fand fone fbureau fand fis fheaded fby fa fcommissioner fwho fis fappointed fvia fthe fcommission 1.7 fDuties fand fFunctions fof fFSLSO f- f f f fcorrect fanswer.The fFlorida fSurplus fLines fService fOffice f 1. fReviews fall fsurplus flines finsurance fpolicies fand fdocuments 2. fMaintains frecords fof fpolicies fand freports fto fthe fDFS 3. fCollect fsurplus flines ftaxes 4. fCollects fservice ffees 5. fTrains fand feducates fsurplus flines fagents 2.1 fRisk f- f f f fcorrect fanswer.The fchance fof ffinancial floss f All finsurance fis fdesigned fto foffset fthe ffinancial fimpact fbased fon floss, fand fhow fmuch fof fthe frisk fthe finsured fis fwilling fto fabsorb fdetermines fthe ftype fof finsurance fneeded, fagainst fwhat fperils, fand ffor fwhat famount 2.2 fInsurance fPolicy f- f f f fcorrect fanswer.Statutory fDefinition: A fwritten fcontract fof for fwritten fagreement ffor for feffecting finsurance f(or fwhatever felse fyou fwant fto fcall fit) fwhich fincludes fall fclauses, friders, fendorsements, fand fpapers fwhich fare fa fpart fof fthereof 2.2 fInsurance f- f f f fcorrect fanswer.Statutory fDefinition: A fcontract fwhereby fone fundertakes fto findemnify fanother for fpay for fallow fa fspecified famount for fa fdeterminable fbenefit fupon fdeterminable fcontingencies 2.3 fBinders f- f f f fcorrect fanswer.An foral for fwritten fstatement fproviding fimmediate finsurance fprotection fthat fis fvalid ffor fa fspecified fperiod. fDesigned fto fprovide ftemporary fcoverage funtil fa fpolicy fcan fbe fissued for fdenied f Includes fall fterms fof fa fpolicy No fnotice fof fcancellation for fnotice fof fnonrenewal fotherwise frequired fby fthis funit fshall fbe frequired funless fthe fduration fof fthe fbinder fexceeds f60 fdays 2.3 fBinder fStatute f- f f f fcorrect fanswer.F.S.627.728 fand f627.7281 Regarding fauto fcoverage, fan finsurer fshall fgive f5 fdays fprior fnotice fof fcancellation fof fa fbinder, funless fthe fbinder fis freplaced fby fa fpolicy for fanother fbinder fin fthe fsame for fanother fcompany 2.4 fCasualty fInsurance f- f f f fcorrect fanswer.Casualty, for fotherwise fknown fas fproperty, fis finsurance fthat fmay finclude fall fkinds fof finsurance fother fthan flife fand fhealth 2.4 fProperty fInsurance f- f f f fcorrect fanswer.Any finsurance fwherein fpayment fby fthe finsurer fwill fbe fpaid fdirectly fto fthe finsured for fother fspecifically fnamed finterests 2.4 fLiability fInsurance f- f f f fcorrect fanswer.Any finsurance fwherein fpayment fwill fbe fmade fon fbehalf fof fthe finsured fto fanother, fbased fupon fthe finsured's fliability fto fthe frecipient 2.4 fHealth fInsurance f- f f f fcorrect fanswer.Health finsurance fhas fits fown fcategory, fbut fits fincluded fhere fbecause flicensing fstatutes fauthorize fagents flicensed ffor f"property fand fliability" fto fsell fhealth finsurance 2.5 fPersonal fContract f- f f f fcorrect fanswer.Property for fliability finsurance fpolicies fcover fpersons. fnot fproperty for foperations 2.5 fConditional fContract f- f f f fcorrect fanswer.Property fand fliability finsurance fpolices fare fsaid fto fbe fconditional fbecause fthe fobligation fof fthe finsurer fto fpreform fmay fbe fconditional fupon fthe finsured fsatisfying fcertain fconditions f All finsurance fpolicies fcontain fconditions 2.5 fContract fof fAdhesion f- f f f fcorrect fanswer.Parties fincluded fare fof funequal fbargaining fpower, fand fone fparty f(the finsured) fcannot fnegotiate fthe fterms, fhaving fto ftake fthe foffer fof fthe fother fparty f(the finsurer) fas fmade f Such fcontracts fare fsubject fto fhaving fany fambiguities fresolved fin ffavor fof fthe finsured 2.5 fIndemnity fContract f- f f f fcorrect fanswer.The fprinciple fof findemnity fmust fbe fpresent, fthe fprinciple fof findemnity fis fthat fone fshould fnot fprofit fform fthe fresponse fprovided fby fthe fpolicy f Most fpolicies fwill fnot fpay famounts fthat fexceed fthe factual fcash fvalue fof fproperty, fbut fthere fare fcertain fpolicies fthat fmay fpay ffull freplacement fcosts f(new ffor fold, faka fyou fcannot freplace fa f3 fyear fold fpaint fjob fwith f3 fyear fold fpaint, fso fit fis fdone fwith fnew fpaint) 2.5 fInsurable fInterest f- f f f fcorrect fanswer.One fwherein feconomic floss fwould fbe fsuffered ffrom fan fadverse fhappening ftot fhe fsubject f In forder ffor finsurance fto frespond, fthere fmust fbe fan finsurable finterest; fthe fextent fof fthe finsurable finterest festablishes fthe flimit fof fthe fresponse 2.5 fInsurable fInterest fStatute f- f f f fcorrect fanswer.F.S.627.405 1. fNo fcontract fof finsurance fof fproperty for fof fany finterest fin fproperty farising ffrom fproperty fshall fbe fenforceable fas fto fthe finsurance fexcept ffor fthe fbenefit fof fpersons fhaving fan finsurable finterest fin fthe fthings finsured fas fthe ftime fof floss f 2. f"Insurable fInterest" fas fused fin fthis fsection fmeans fany factual, flawful, fand fsubstantial feconomic finterest fin fthe fsafety for fpreservation fof fthe fsubject fof fthe finsurance ffree ffrom floss, fdestruction, for fpecuniary fdamage for fimpairment f 3. fThe fmeasure fof fan finsurable finterest fin fproperty fis fthe fextent fto fwhich fthe finsured fmight fbe findemnified fby floss, finjury, for fimpairment fthereof 2.6 fPeril f- f f f fcorrect fanswer.A fcontingency fthat fmay fcause fa floss 2.6 fHazard f- f f f fcorrect fanswer.A fcondition fthat fintroduces for fincreases fthe flikelihood fof floss ffrom fa fperil