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Florida Life Insurance Study Guide ( Latest 2024 / 2025 ) Actual Questions and Answers 100% Correct $10.99   Add to cart

Exam (elaborations)

Florida Life Insurance Study Guide ( Latest 2024 / 2025 ) Actual Questions and Answers 100% Correct

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  • Course
  • Florida life insurance
  • Institution
  • Florida Life Insurance

Florida Life Insurance Study Guide ( Latest 2024 / 2025 ) Actual Questions and Answers 100% Correct

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  • September 15, 2024
  • 11
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Florida life insurance
  • Florida life insurance
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ExamNavigator
Florida Life Insurance Study Guide




By ExamNavigator

, Florida Life Insurance Study Guide

1. Mutual Insurance Companies
Answer: organized and incorporated under state laws. Nostockholders.

2. Mutual companies
Answer: Participating, they pay dividends.

3. Stock company
Answer: Owns Stock. Nonparticipating (no dividends)

4. Risk Retention Group
Answer: Mutual company formed to insure ppl in the same business, occupation, profession
(pharmacists, dentists, engineers)

5. Fraternal Benefit Societies
Answer: Non profit organization, lodge system that includesritualistic work, and maintain a
rep form of gov with elected officers.

6. FICA
Answer: Made up of Social Security and Medicare

7. Variable Product
Answer: Dual license. One license issued by FINRA & the other Life &Annuity (issued by the
state)

8. Fair Credit Reporting Act
Answer: Consumers have the right to question what is on theircredit report

9. Domestic insurer
Answer: company doing business in the state in which it is incorporated

10. Foreign insurer
Answer: company licensed & doing business in states other than theone in which it is
incorporated

11. Buyers Guides
Answer: generic (explain various types of life insurance products, including variable
annuities)

12. Policy Summaries
Answer: Specific to the Policy - ids the agent, insurer, policy, each rider, and includes info
about premiums, dividends, benefit amounts, cash surrendervalues, policy loan interest rates, and

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