2-20 EXAM FLASH CARDS QUESTIONS AND
ANSWERS UPDATED 2024 - 2025
C:,an,insurable,interest,,,ANS,-
1.If,someone,would,suffer,economic,loss,from,damage,to,their,property,,they,have:,
A:,a,subrogation,right
B:,a,proximate,cause
C:,an,insurable,interest
D:,a,contingent,claim
B,-,binder,,,ANS,-2.,A,convenience,used,to,provide,temporary,insurance,is,called:,
A,-,Insurance
B,-,binder
C-,property,coverage
D-,liability,coverage
B:,Concealment,,,ANS,-
3.,The,failure,of,the,insured,to,reveal,a,known,fact,to,the,insurer,,which,would,have,had,an,adverse,effec
t,on,the,policy,being,issued,is:
,A:,Waiver,
,B:,Concealment,
,C:,Warranty,
,D:,Misrepresentation
D:,Liability,coverage,,,ANS,-
4.,Insurance,where,payment,is,made,on,behalf,of,the,insured,to,another,party,is,called:,
A:,Adverse,selection,
B:,Binder,
C:,Property,coverage,
D:,Liability,coverage
,B:,Liberalization,,,ANS,-
5.,When,the,insurer,adopts,a,provision,providing,broader,coverage,without,additional,premium,,and,the,
broader,coverage,automatically,applies,to,the,existing,policy,,it,is,called:,
A:,Apportionment,
B:,Liberalization
C:,Appraisal,
D:,Abandonment
C:,Property,coverage,,,ANS,-
6.,Any,insurance,where,the,insurer,pays,the,insured,or,some,other,named,interest,directly,is,called:,
A:,Adverse,selection,
B:,Binder,
C:,Property,coverage,
D:,Liability,coverage
A-,Misrepresentation,,,ANS,-
7.,Knowingly,making,a,false,or,fraudulent,statement,on,an,application,is,known,as:,
A-,Misrepresentation,
B-,Twisting,
C-,Sliding,
D-,Rebating
B-,48,months,(2,years),,,ANS,-
8.,If,licensee,fails,to,be,appointed,they,are,subject,to,losing,their,license.,What,period,of,time,will,trigger,
the,termination,of,a,license,for,failure,to,maintain,an,appointment?,
A-,12,months,
B-,48,months,
C-,6,months,
D-36,months
,B-,Controlled,business,,,ANS,-
9.,To,obtain,a,license,for,the,purpose,of,writing,insurance,only,on,family,members,or,business,relationshi
p,is,known,as:,
A-,Unfair,discrimination,
B-,Controlled,business,
C-,Collateral,business,
D-,Rebating
B-,30,days,,,ANS,-
10.,If,a,licensee,changes,their,name,,residence,address,or,business,address,,they,must,notify,the,Depart
ment,of,Insurance,within:,
A-,10,days,
B-,30,days,
C-,45,days,
D-,90,days
D-,Agent,must,maintain,a,rebate,schedule,for,two,years,,,ANS,-
11.Agents,in,the,state,of,Florida,may,rebate,a,portion,of,their,commissions,to,the,customer.,The,agent,m
ust,meet,all,of,the,following,,EXCEPT:
A-,Available,to,all,insured's,in,the,same,actuarial,class,
B-,The,rebate,schedule,must,be,filed,with,the,insurer,
C-,Rebate,schedule,must,be,posted,in,the,agency,
D-,Agent,must,maintain,a,rebate,schedule,for,two,years
D-,Properties,over,50,years,old,(if,roof,and,wiring,updated),,,ANS,-
12.,All,of,the,following,are,ineligible,for,coverage,with,Citizens,Property,Insurance,Corporation,,EXCEPT:,
A-,Vacant,properties,
B-,Properties,in,disrepair,
C-,Properties,built,over,water,
D-,Properties,over,50,years,old
, D-,Replacement,Cost,on,Personal,Property,,,ANS,-
13.Citizens,Property,Insurance,Corporation,uses,standard,homeowners,forms,,however,,there,is,very,limi
ted,endorsement,availability.,Which,of,the,following,endorsements,is,available?,
A-,Scheduled,Personal,Property,
B-,Home,Daycare,
C-,Personal,Injury,
D-,Replacement,Cost,on,Personal,Property
A-,Animal,liability,coverage,,,ANS,-
14.,All,of,the,following,coverages,are,available,in,the,policies,issued,through,Citizens,Property,Insurance,
Corporation,,EXCEPT:,
A-,Animal,liability,coverage,
B-,Loss,of,use,coverage,
C-,Other,structures,coverage
D-,Damage,to,property,of,others
D),Twisting,,,ANS,-
16.Knowingly,making,any,misleading,representations,or,incomplete,or,fraudulent,comparisons,of,any,ins
urance,policy,with,the,intent,of,inducing,a,person,to,cancel,or,lapse,an,insurance,policy,is,known,as:,
A),Misrepresentation,
B),Coercion,
C),Sliding,
D),Twisting
D),Licensed,customer,service,representative,,,ANS,-
A,General,Lines,Agent,may,share,his,commission,with,all,of,the,following,except:,
A),Incorporated,insurance,agency,
B),Non-resident,general,lines,agent,
C),Resident,general,lines,agent,
D),Licensed,customer,service,representative
ANSWERS UPDATED 2024 - 2025
C:,an,insurable,interest,,,ANS,-
1.If,someone,would,suffer,economic,loss,from,damage,to,their,property,,they,have:,
A:,a,subrogation,right
B:,a,proximate,cause
C:,an,insurable,interest
D:,a,contingent,claim
B,-,binder,,,ANS,-2.,A,convenience,used,to,provide,temporary,insurance,is,called:,
A,-,Insurance
B,-,binder
C-,property,coverage
D-,liability,coverage
B:,Concealment,,,ANS,-
3.,The,failure,of,the,insured,to,reveal,a,known,fact,to,the,insurer,,which,would,have,had,an,adverse,effec
t,on,the,policy,being,issued,is:
,A:,Waiver,
,B:,Concealment,
,C:,Warranty,
,D:,Misrepresentation
D:,Liability,coverage,,,ANS,-
4.,Insurance,where,payment,is,made,on,behalf,of,the,insured,to,another,party,is,called:,
A:,Adverse,selection,
B:,Binder,
C:,Property,coverage,
D:,Liability,coverage
,B:,Liberalization,,,ANS,-
5.,When,the,insurer,adopts,a,provision,providing,broader,coverage,without,additional,premium,,and,the,
broader,coverage,automatically,applies,to,the,existing,policy,,it,is,called:,
A:,Apportionment,
B:,Liberalization
C:,Appraisal,
D:,Abandonment
C:,Property,coverage,,,ANS,-
6.,Any,insurance,where,the,insurer,pays,the,insured,or,some,other,named,interest,directly,is,called:,
A:,Adverse,selection,
B:,Binder,
C:,Property,coverage,
D:,Liability,coverage
A-,Misrepresentation,,,ANS,-
7.,Knowingly,making,a,false,or,fraudulent,statement,on,an,application,is,known,as:,
A-,Misrepresentation,
B-,Twisting,
C-,Sliding,
D-,Rebating
B-,48,months,(2,years),,,ANS,-
8.,If,licensee,fails,to,be,appointed,they,are,subject,to,losing,their,license.,What,period,of,time,will,trigger,
the,termination,of,a,license,for,failure,to,maintain,an,appointment?,
A-,12,months,
B-,48,months,
C-,6,months,
D-36,months
,B-,Controlled,business,,,ANS,-
9.,To,obtain,a,license,for,the,purpose,of,writing,insurance,only,on,family,members,or,business,relationshi
p,is,known,as:,
A-,Unfair,discrimination,
B-,Controlled,business,
C-,Collateral,business,
D-,Rebating
B-,30,days,,,ANS,-
10.,If,a,licensee,changes,their,name,,residence,address,or,business,address,,they,must,notify,the,Depart
ment,of,Insurance,within:,
A-,10,days,
B-,30,days,
C-,45,days,
D-,90,days
D-,Agent,must,maintain,a,rebate,schedule,for,two,years,,,ANS,-
11.Agents,in,the,state,of,Florida,may,rebate,a,portion,of,their,commissions,to,the,customer.,The,agent,m
ust,meet,all,of,the,following,,EXCEPT:
A-,Available,to,all,insured's,in,the,same,actuarial,class,
B-,The,rebate,schedule,must,be,filed,with,the,insurer,
C-,Rebate,schedule,must,be,posted,in,the,agency,
D-,Agent,must,maintain,a,rebate,schedule,for,two,years
D-,Properties,over,50,years,old,(if,roof,and,wiring,updated),,,ANS,-
12.,All,of,the,following,are,ineligible,for,coverage,with,Citizens,Property,Insurance,Corporation,,EXCEPT:,
A-,Vacant,properties,
B-,Properties,in,disrepair,
C-,Properties,built,over,water,
D-,Properties,over,50,years,old
, D-,Replacement,Cost,on,Personal,Property,,,ANS,-
13.Citizens,Property,Insurance,Corporation,uses,standard,homeowners,forms,,however,,there,is,very,limi
ted,endorsement,availability.,Which,of,the,following,endorsements,is,available?,
A-,Scheduled,Personal,Property,
B-,Home,Daycare,
C-,Personal,Injury,
D-,Replacement,Cost,on,Personal,Property
A-,Animal,liability,coverage,,,ANS,-
14.,All,of,the,following,coverages,are,available,in,the,policies,issued,through,Citizens,Property,Insurance,
Corporation,,EXCEPT:,
A-,Animal,liability,coverage,
B-,Loss,of,use,coverage,
C-,Other,structures,coverage
D-,Damage,to,property,of,others
D),Twisting,,,ANS,-
16.Knowingly,making,any,misleading,representations,or,incomplete,or,fraudulent,comparisons,of,any,ins
urance,policy,with,the,intent,of,inducing,a,person,to,cancel,or,lapse,an,insurance,policy,is,known,as:,
A),Misrepresentation,
B),Coercion,
C),Sliding,
D),Twisting
D),Licensed,customer,service,representative,,,ANS,-
A,General,Lines,Agent,may,share,his,commission,with,all,of,the,following,except:,
A),Incorporated,insurance,agency,
B),Non-resident,general,lines,agent,
C),Resident,general,lines,agent,
D),Licensed,customer,service,representative
