FLORIDA 20-44 Personal Lines License
Questions and Answers
1.Warranty
Answer policy condition, either based on information in the insured's
applica- tion or inserted by the insurer
2.Misrepresentation
Answer an untrue statement by the insured, made in an application but
does not become a part of the policy
3.Broad Evidence Rule
Answer a method of determing the true insurable worth of a structure
or vehicle according to any measure that will prvoide the most
accurate analysis of that property's value
4.State
Answer a jurisdiction other than the state of Florida (any state, district,
territory, or commonwealth in the U.S.)
5.authorized insurer
Answer one authorized by a subsisting certificate of authority issued by
the department to transact insurance in this state
1/
14
, 6.Office of Insurance Regulation
Answer regulation, compliance, and enforcement of statutes related to
the business of insurance and the monitoring of industry markets
(regulatory oversight of company solvency, policy forms and rates,
market conduct performance, and new company entrants in the FL
market
7.Causes of Loss Form
Answer specifies what perils are insured against and lists exclu- sions.
Several different versions provide increasingly broad coverage from
Basic to Broad to special. An earthquake form is also available
8.Split Limits
Answer policy limits that apply one limit to each person injured, another
for BI claims of all persons insured in a single accident, and a separate
limit for all property damage arising out of a single accident (i.e.
15/30/10)
9.Severability
Answer insurance applies separately to each insureds
10.Arbitration Clause
Answer in the event the insured and the insurer cannot agree on
amount of claim settlement, each appoints an appraiser
2/
14
Questions and Answers
1.Warranty
Answer policy condition, either based on information in the insured's
applica- tion or inserted by the insurer
2.Misrepresentation
Answer an untrue statement by the insured, made in an application but
does not become a part of the policy
3.Broad Evidence Rule
Answer a method of determing the true insurable worth of a structure
or vehicle according to any measure that will prvoide the most
accurate analysis of that property's value
4.State
Answer a jurisdiction other than the state of Florida (any state, district,
territory, or commonwealth in the U.S.)
5.authorized insurer
Answer one authorized by a subsisting certificate of authority issued by
the department to transact insurance in this state
1/
14
, 6.Office of Insurance Regulation
Answer regulation, compliance, and enforcement of statutes related to
the business of insurance and the monitoring of industry markets
(regulatory oversight of company solvency, policy forms and rates,
market conduct performance, and new company entrants in the FL
market
7.Causes of Loss Form
Answer specifies what perils are insured against and lists exclu- sions.
Several different versions provide increasingly broad coverage from
Basic to Broad to special. An earthquake form is also available
8.Split Limits
Answer policy limits that apply one limit to each person injured, another
for BI claims of all persons insured in a single accident, and a separate
limit for all property damage arising out of a single accident (i.e.
15/30/10)
9.Severability
Answer insurance applies separately to each insureds
10.Arbitration Clause
Answer in the event the insured and the insurer cannot agree on
amount of claim settlement, each appoints an appraiser
2/
14
