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!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

Which of the following is NOT a rating factor in determining a Homeowners premium?

Location of home
Age of home
Construction type
Gender of owner

The correct answer is: Gender of owner

Rating factors contribute to insurance premiums, and factors such as location, age and construction type of a home can impact the cost of a homeowner's insurance policy. However, the gender of the owner is not considered a rating factor and does not affect the premium. This is because insurance companies use statistical data to assess risk and set premiums, and gender is not a reliable predictor of risk for homeowners. Therefore, it is not a factor in determining the cost of a homeowner's insurance policy.