Package deal for Florida Insurance 2-14 Exam

Which of the following describes a participating insurance policy? - Policyowners are entitled to receive dividends At what point must a life insurance applicant be informed of their rights that fall under the Fair Credit Reporting Act? - Upon completion of the application Dividends payable to...

Insurance - Financial protection against loss or harm - An arrangement by which company gives customers financial protection against loss or harm such as theft or illness in return for premium payments. Life Insurance - Is based on actuarial or mathematical principles and guarantees a specified s...

Common Disaster Clause provides that if both the insured and the sole named beneficiary were to die in a common accident, which of the following is true? - This clause provides the payment of proceeds to the insured's estate Under a life insurance policy the ___ has the authority to name the ben...

Which of the following individuals MUST be licensed as an agent? - A person who places insurance on behalf of anyone seeking insurance. Which of the following statements regarding a nonresident insurance agent is CORRECT? - The agent must hold a similar license in their state of residence Stat...

Insurable Interest - - An interest must exist between two parties where one party has the potential to suffer a loss in the event that a particular outcome occurs (which was covered by the insurance policy). - Insurance cannot be purchased on strangers, friends, associates of no financial signifi...