Florida Insurance Licensing Practice Exam

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Prepare for the Florida Insurance Licensing Exam using comprehensive questions and in-depth explanations. Perfect your understanding of essential insurance concepts and ensure your success!

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All of the following are part of the conditions imposed upon the insured in the event of a loss EXCEPT

  1. Insured should inventory property

  2. Insured should protect damaged property to prevent further damage

  3. Insured should negotiate on behalf of the company for 3rd party claimants

  4. Insured should allow inspection of damages by the insurance company

The correct answer is: Insured should negotiate on behalf of the company for 3rd party claimants

Answer The correct answer is C. This is because the insured is not responsible for negotiating on behalf of the company for third party claimants. This is the responsibility of the insurance company. The other options, A, B, and D, are all conditions the insurance company may impose on the insured in the event of a loss. These conditions are meant to protect the interests of both the insured and the insurance company. A is important for establishing the value of the lost items, B is necessary to prevent further damage and mitigate losses, and D is necessary for the insurance company to accurately assess the extent of the damages and provide appropriate coverage.

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