Exam (elaborations)
STATUTES TEST (2-20) QUESTIONS 2024
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STATUTES TEST (2-20)
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STATUTES TEST (2-20)True or False: A customer representative may only perform customer representative
duties as to the specific general lines insurance products which their supervising
General Lines Agent is actually then appointed by an insurer to handle - answerTrue
A customer representative may only perform customer representative duties:
A)...as to the specific general lines insurance products which their supervising, General
Lines Agent, is actually then appointed by an insurer to handle
B)... as to any lines of insurance
C)a customer representative does not have a "supervising agent"
D)None of these apply - answerA)...as to the specific general lines insurance products
which their supervising, General Lines Agent, is actually then appointed by an insurer to
handle
A licensed customer representative may:
(A) solicit new customers at the supervising General Lines Agent's office and/or
(B) solicit business outside of the General Lines Agent's office
(A) only - solicit new customers at the supervising General Lines Agent's office
B)(B) only - solicit business outside of the General Lines Agent's office
C)both A and B
D)neither A or B - answer(A) only - solicit new customers at the supervising General
Lines Agent's office
True or False? A customer representative can, under the supervision of the supervising
General Lines Agent, and ONLY at that Agent's principal place of business, conduct
customer representative work that assists or supports other agents. - answerTrue
True or False? A Customer Representative does not need to clarify to the insuring
public whether or not he or she is a General Lines Agent or a Customer Representative.
- answerFalse
You, the Agent in Charge, have asked your customer representative to transact
insurance business outside of your agency's office. Is this permissible?
A)it is permissible as long as you, the appointing agent, are aware of the outside
activities
B)it is not permissible per F.S. 626.7354
C)it is permissible as long as the business corresponds to the types of business you,
the appointing agent, are licensed to sell
D)none of these apply - answerB)it is not permissible per F.S. 626.7354
,True or False? You, the appointing General Lines Agent, may require a customer
representative to engage in the transacting of insurance outside of your office -
answerFalse
True or False? All business transacted by a customer representative under his or her
license shall be in the name of your agent or agency license by which the customer
representative is appointed. - answerTrue
True or False? You, as a general agent may hire and license a customer representative
who shall be a salaried employee. You may pay the customer representative
commissions primarily based on the production of applications, insurance, or premiums.
- answerFalse
You, a General Agent, have hired a Customer Representative with an understanding
that the Customer Representative's compensation will be predominately commission
based. Is commission based compensation permitted for Customer Representatives?
A)any agreement between a Customer Representative and the agency-employer is
permitted
B)compensation based upon premium or other production is permissible per F.S.
626.7354
C)no, production based compensation (i.e. commission based) is not permitted per
626.7354
D)none of these apply - answerC)no, production based compensation (i.e. commission
based) is not permitted per 626.7354
True or False? When compensating a customer representative their salary shall not
include commissions and shall not be primarily based on the production of applications,
insurance, or premiums. - answerTrue
According to F.S. 626.731(1)(a) an applicant must be ___ years old to be eligible for a
General Lines insurance license.
A)18
B)21
C)25
D)there is no age requirement listed in the Florida Statutes - answerA)18
The solicitation of insurance by a General Lines Agent include(s):
A)describing the benefits or terms of insurance coverage, including premiums or rates
of return
B)distributing an invitation to contract to prospective purchasers
C)completing orders or applications for insurance products
D)each of these are correct - answerD)each of these are correct
, The solicitation of insurance by a General Lines Agent include(s):
A)describing the benefits or terms of insurance cover-age, including premiums or rates
of return
B)distributing an invitation to a party to a customer
C)both A & B
D)neither A or B - answerA)describing the benefits or terms of insurance cover-age,
including premiums or rates of return
True or False? Florida law requires General Lines Agents to be licensed - answerTrue
True or False? Florida law requires General Lines Agents to be licensed but not
agencies. - answerFalse
Jean has demonstrated both a lack of technical knowledge and lack of trustworthiness
in her dealings as a licensed insurance representative.
A)Jean could have her licensed terminated
B)Jean could not have her licensed terminated for any reasons
C)lack of technical knowledge does not qualify as a terminating reason
D)lack of trustworthiness does not qualify as a terminating reason - answerA)Jean could
have her licensed terminated
A licensed representative can have their licensed terminated if:
A)determined to have converted or misappropriated insured or agency funds
B)willfully deceived an insured or insurance company
C)consistently demonstrated a lack of technical knowledge and/or competency to fulfill
the requirements of a license representative
D)each of these are correct - answerD)each of these are correct
A licensed representative can have their licensed terminated if:
A)the representative materially misrepresented themselves in their licensing application
B)the representative willfully deceived an insured or insurance company
C)the representative has demonstrated a lack of trustworthiness in the insurance
business dealings
D)each of these are correct - answerD)each of these are correct
True or False? Willfully over insuring a health or property policy can be grounds for
terminating an insurance license. - answerTrue
Which of the following are required to be on an application of insurance?
A)Insurer name
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