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Florida Insurance 2-20 Exam 2025 Questions and Answers Abandonment Clause - --CORRECT ANSWER--often contained in a p/c policy stating that the insured cannot abandon damaged property to the (dump on) insurer and demand reimbursement for the full value. Accident - --CORRECT ANSWER--Sudden fortuitous event Accounts Receivable Coverage Form - --CORRECT ANSWER--Inland Marine Coverage form which insures against loss the insured suffers becasuse of an inability to collect from customers when AR records are damaged. Actual Cash Value (ACV) - --CORRECT ANSWER--Current cost to replace and item of property at the time of loss, less an allowance for depreciation. Most basic way to determine amount of reimbursement for a loss (Replacement Costs Depreciation). Admitted Aircraft Liability Coverage - --CORRECT ANSWER--Coverage sometimes written in conjunction w/ Aircraft Passenger Liability which can provide reimbursement for death of dismemberment. ....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 1