Free Commercial Property Policies Practice Questions
Florida General Lines — Property & Casualty (2-20) exam (series 2-20) — 63 practice questions.
Subtopics: Commercial nonrenewal notice, Late notice extension, Commercial residential hurricane deductible, Boiler inspections, Power boiler inspection frequency, Building and personal property, Causes of loss forms, Business income, Commercial package, Equipment breakdown, Coinsurance, Builders risk, Extra expense, Ordinance or law, Inland marine, Reporting form, Causes of loss special form, Agreed value, Peak season endorsement, Spoilage coverage, Causes of loss basic form, Newly acquired property, Functional valuation, Causes of loss broad form, Debris removal, Brands and labels, Pollutant cleanup, Legal liability coverage form, Tenant improvements, Earthquake coverage, Additional coverages, Coverage extensions, Vacancy, Valuation, Optional coverages, Functional building valuation
Read the Commercial Property Policies study guide
Sample questions & answers
1. For a Florida commercial property or casualty policy (other than residential property and auto), the insurer must give advance written notice of nonrenewal or of the renewal premium of at least:
45 days
Commercial property and casualty insurers must give the first-named insured at least 45 days' advance written notice of nonrenewal or of the renewal premium.
2. If a Florida commercial insurer fails to give the required 45-day nonrenewal notice, coverage:
Continues until 45 days after notice or until replacement coverage starts
When the 45-day or 20-day notice is not given, coverage continues until 45 days after notice is given or the effective date of replacement coverage, whichever occurs first.
3. For Florida commercial residential property policies, such as a condominium association policy, the insurer must offer hurricane deductibles that apply:
Either annually or per hurricane, at the insured's option
Commercial residential insurers must offer both an annual (calendar-year) hurricane deductible and a deductible that applies to each hurricane.
4. In Florida, boilers in public assembly locations that are insured are inspected by:
Special boiler inspectors of authorized inspection agencies
The chief boiler inspector certifies special boiler inspectors employed by authorized inspection agencies, who inspect insured boilers at the frequencies the statute sets.
All General Lines — Property & Casualty (2-20) topics
Practice: Commercial Property Policies
Answer choices are shuffled every time, and every question comes with an explanation.
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 Insurance Department and the exam administrator before relying on it.
