FL Law and Ethics Update - Section 3 Quiz - Motor Carrier Insurance Education Foundation

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Question 1 of 5

1. Question

According to this course, what is the key distinction between morality and ethics?

Morality concerns actions taken; ethics concerns only stated beliefs
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Morality applies only to insureds; ethics applies only to agents
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Morality is right versus wrong; ethics is often right versus right, requiring a choice between two defensible options
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Morality is legally enforceable; ethics has no practical consequence
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Question 2 of 5

2. Question

According to this course, why can an agent act ethically and still carry an E&O exposure?

E&O exposure only exists when an agent acts unethically
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A coverage gap can create financial/legal exposure even without any dishonest or unethical conduct
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Ethics and E&O are legally identical concepts under Florida law
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E&O insurance is not available to agents who follow ethical principles
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Question 3 of 5

3. Question

What does the MCS-90 endorsement actually guarantee?

Additional liability coverage above the policy's stated limits for the insured's own benefit
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A permanent waiver of the insured's federal financial responsibility filing requirement
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Payment to injured third parties up to the federal minimum if the policy otherwise wouldn't respond, subject to reimbursement from the insured
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Coverage for cargo losses regardless of any policy exclusion
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Question 4 of 5

4. Question

A motor carrier shuts down and re-forms under a new name, often through a family member, specifically to escape a poor safety or claims history. What is this pattern called?

A wholesale submission
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A chameleon carrier
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A contingent commission arrangement
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A special relationship
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Question 5 of 5

5. Question

An insured tells their agent, “I don’t have employees — my drivers are independent contractors.” What follow-up question does this course recommend?

How long has the insured been in business?
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What is the insured's current CSA score?
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How many total vehicles does the insured operate?
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Whose truck are the drivers actually driving?
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FL Law and Ethics Update – Section 3 Quiz

Assessment Summary

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