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Free Other Types of Property and Casualty Practice Questions

Florida General Lines — Property & Casualty (2-20) exam (series 2-20) — 17 practice questions.

Subtopics: Surplus lines eligibility, Surplus lines service office, Umbrella and excess, Surety bonds, Flood insurance, Specialty liability, Ocean marine, Alternative markets, Difference in conditions, Aviation

Sample questions & answers

1. Before exporting a risk to a surplus lines (nonadmitted) insurer in Florida, an agent generally must show declinations from at least:

3 admitted insurers

Florida generally requires a diligent effort, shown by declinations from at least three authorized insurers, before a risk may be exported to the surplus lines market.

2. Surplus lines business in Florida is processed, and the premium tax administered, through the:

Florida Surplus Lines Service Office

The Florida Surplus Lines Service Office processes surplus lines filings and administers the surplus lines premium tax and service fees.

3. A commercial umbrella policy generally provides:

Excess limits above underlying policies and may drop down to cover some claims not insured by the underlying policy (subject to a self-insured retention)

An umbrella sits above scheduled underlying coverages, provides higher limits, and may drop down (subject to an SIR) for claims the underlying does not cover.

4. In a surety bond, the party who guarantees the performance or obligations of the principal is the:

Surety

The surety guarantees the principal's performance to the obligee; if the principal defaults, the surety is responsible.

All General Lines — Property & Casualty (2-20) topics

Practice: Other Types of Property and Casualty

Take a randomized, timed-style practice test. Answer choices are shuffled and your results are scored instantly with an explanation for every question.

Practice questions are study aids generated for exam preparation and are not actual exam questions. Content is provided for educational purposes and is not legal advice. Verify current statutes, rules, and exam specifications with the Pennsylvania Insurance Department and the exam administrator before relying on it.