FLORIDA 2-20 AGENTS LICENSE
FINAL EXAM NEWETST ACTUAL
EXAM WITH COMPLETE
QUESTIONS AND DETAILED
ANSWERS GRADED A | BRAND
NEW!!!
D- $670 - ✔✔✔ Correct Answer > 122. Sam has a Business Auto
Policy with Section IV - Physical Damage written with a $250
deductible on Comprehensive and a $500 deductible on
Collision. Sam runs into a tree limb destroying his windshield. If
the cost to replace the windshield is $670, his policy will pay:
A- 0
B- $170
C- $420
D- $670
,D- $3,000,000 - ✔✔✔ Correct Answer > 123. In order for a
service risk to be eligible for a BOP, gross sales must not
exceed:
A- $100,000
B- $250,000
C- $500,000
D- $3,000,000
D- There is no limit on Part One
Part One = Worker's Compensation - ✔✔✔ Correct Answer >
124. Basic limit of Part One of Workers Compensation
insurance is:
A- $100,000
B- $300,000
C- $500,000
D- There is no limit on Part One
C- A joint venture formed 50 days ago & not yet reported to the
insurer - ✔✔✔ Correct Answer > 125. All of the following could
be insureds under a CGL EXCEPT:
A- The spouse of a partner of an insured partnership
B- The employee of an insured corporation
,C- A joint venture formed 50 days ago & not yet reported to the
insurer
D- A subsidiary entity purchased 62 days ago
C- 1 year - ✔✔✔ Correct Answer > 126. In Crime insurance, the
discovery period in an expired Loss Sustained Form is:
A- 60 days
B- 90 days
C- 1 year
D- 2 years
D- $4,100 - ✔✔✔ Correct Answer > 127. Ace Lawn Mower Sales
sends one of its floor model riding mowers to Acme Lawn
Mower Repair. While at Acme a cause of loss covered by Ace's
Building and Personal Property Coverage form causes $4,100
damage to the mower. Ace's policy will provide coverage in the
amount of: (ignore deductible).
A- 0
B- $1,000
C- $2,500
D- $4,100
, C- Inherent vice - ✔✔✔ Correct Answer > 128. Quality within
an object that results in the objects tending to damage or
destroy itself, is called:
A- Deterioration
B- Wear and tear
C- Inherent vice
D- None of these choices
b. Performance Bond - ✔✔✔ Correct Answer > 129. A bond
that guarantees to the oblige indemnification for any losses
resulting from principal's failure to complete the job according
to the terms of the contract is called:
a. Bid Bond
b. Performance Bond
c. Supply Bond
d. Maintenance Bond
b. Consequential Damage - ✔✔✔ Correct Answer > 130. The
boiler and machinery endorsement that covers loss due to
spoilage from lack of power, heat, etc., is:
a. Limited Coverage
b. Consequential Damage
FINAL EXAM NEWETST ACTUAL
EXAM WITH COMPLETE
QUESTIONS AND DETAILED
ANSWERS GRADED A | BRAND
NEW!!!
D- $670 - ✔✔✔ Correct Answer > 122. Sam has a Business Auto
Policy with Section IV - Physical Damage written with a $250
deductible on Comprehensive and a $500 deductible on
Collision. Sam runs into a tree limb destroying his windshield. If
the cost to replace the windshield is $670, his policy will pay:
A- 0
B- $170
C- $420
D- $670
,D- $3,000,000 - ✔✔✔ Correct Answer > 123. In order for a
service risk to be eligible for a BOP, gross sales must not
exceed:
A- $100,000
B- $250,000
C- $500,000
D- $3,000,000
D- There is no limit on Part One
Part One = Worker's Compensation - ✔✔✔ Correct Answer >
124. Basic limit of Part One of Workers Compensation
insurance is:
A- $100,000
B- $300,000
C- $500,000
D- There is no limit on Part One
C- A joint venture formed 50 days ago & not yet reported to the
insurer - ✔✔✔ Correct Answer > 125. All of the following could
be insureds under a CGL EXCEPT:
A- The spouse of a partner of an insured partnership
B- The employee of an insured corporation
,C- A joint venture formed 50 days ago & not yet reported to the
insurer
D- A subsidiary entity purchased 62 days ago
C- 1 year - ✔✔✔ Correct Answer > 126. In Crime insurance, the
discovery period in an expired Loss Sustained Form is:
A- 60 days
B- 90 days
C- 1 year
D- 2 years
D- $4,100 - ✔✔✔ Correct Answer > 127. Ace Lawn Mower Sales
sends one of its floor model riding mowers to Acme Lawn
Mower Repair. While at Acme a cause of loss covered by Ace's
Building and Personal Property Coverage form causes $4,100
damage to the mower. Ace's policy will provide coverage in the
amount of: (ignore deductible).
A- 0
B- $1,000
C- $2,500
D- $4,100
, C- Inherent vice - ✔✔✔ Correct Answer > 128. Quality within
an object that results in the objects tending to damage or
destroy itself, is called:
A- Deterioration
B- Wear and tear
C- Inherent vice
D- None of these choices
b. Performance Bond - ✔✔✔ Correct Answer > 129. A bond
that guarantees to the oblige indemnification for any losses
resulting from principal's failure to complete the job according
to the terms of the contract is called:
a. Bid Bond
b. Performance Bond
c. Supply Bond
d. Maintenance Bond
b. Consequential Damage - ✔✔✔ Correct Answer > 130. The
boiler and machinery endorsement that covers loss due to
spoilage from lack of power, heat, etc., is:
a. Limited Coverage
b. Consequential Damage
