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Chapter Exam - FL Laws and Rules Test Questions with Answers.
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Chapter Exam - FL Lawsand Rules Test Questions
and Answers
Denning [Date] [Course title]
, in florida which agency is responsible for the rehabilitation or liquidation of insurers - Correct Answers:
Department of Financial Services
in florida what is the maximum percentage of controlled business an agent may produce - Correct
Answers: 50%
what is the main reason for regulating the insurance industry - Correct Answers: maintain the solvency
of insurance companies.
a stock insurance company - Correct Answers: is owned exclusively by its shareholders.
under a life insurance policy, the (blank) has the authority to name the beneficiary. - Correct Answers:
owner
j is an agent who recently told a claimant that his rights might be impaired if he does not complete a
release form within a specified time. what could this agent be found guilty of? - Correct Answers:
coercion
k is insured under a group life insurance policy. k is considered to be a(n) - Correct Answers: certificate
holder
group life policies in florida are required to contain a conversion privilege that allows for conversion -
Correct Answers: to an individual policy for a stated period of time
as a condition for a loan, a bank requires the borrower to purchase credit insurance from a specific
company. what is the bank guilty of? - Correct Answers: coercion
which of the following is a standard provision of the conversion privileges in a group life policy? - Correct
Answers: group life coverage can be converted to an individual policy at regular rates on an attained age
basis.
which of the following areas of state regulation is NOT protected by the savings clause in ERISA? -
Correct Answers: commerce
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