Florida Property & Casualty Study Guide Questions And Correct Answers

Under Coverage A - Bodily Injury and Property Damage in a CGL policy, contractual liability, liquor liability and the insured's work are examples of what? {Ans: Policy Exclusions}What is the name for the limits of liability that are stated separately for different coverages? {Ans: Split Limits}When can insurance be sold through a surplus lines insurer? {Ans: When the insurance cannot be obtained through an authorized carrier}In dwelling policies, any volcanic activity will be considered part of one occurrence if it happens within how many hours? {Ans: 72 hours}Who is an insurance agent? {Ans: A person authorized to sell, solicit and negotiate insurance contracts.}What do agents need to transact insurance on behalf of an insurer? {Ans: Appointment}The businessowners policy is most similar to which personal lines policy? {Ans: Homeowners}Losses caused by vandalism and malicious mischief (V&MM) are excluded from coverage under a homeowners policy if a dwelling has been vacant for how many days? {Ans: More than 60 days}What are agents/producers required to do in order to renew their license? {Ans: Complete continuing education hours and pay a renewal fee}What is covered under the Legal Liability Coverage Form? {Ans: Property in