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Florida Statutes, Rules, and Regulations Common to All Lines QUIZ Questions with Solutions
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Florida Statutes, Rules, and Regulations Common to All Lines QUIZ
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Florida Statutes, Rules, and RegulationsCommon to All Lines QUIZ
An insured purchased an insurance policy 5 years ago. Last year, she received a
dividend check from the insurance company that was not taxable. This year, she did not
receive a check from the insurer. From what type of insurer did the insured purchase
the policy? - answer mutual
All of the following would be considered an insurance transaction EXCEPT - answer
Obtaining an insurance license
During a sales presentation a producer intentionally makes a statement which may
mislead the insurance applicant. This describes - answer misrepresentation
Which of the following is true regarding branch agency licensing? - answer agent in
charge must be licensed
If an agent is in the military, which of the following is true? - answerThe agent cannot
sell a policy to another active military person who is of a lower rank.
The agent in charge of an agency must hold which of the following licenses? -
answerGeneral lines
The requirement that agents not commingle insurance monies with their own funds is
known as - answerfiduciary responsibility
Which type of misrepresentation persuades an insured, to his or her detriment, to
cancel, lapse, or switch policies from one to another? - answertwisting
No insurance policy form can be issued, delivered, or used in this state unless it has
been - answerFiled with and approved by the Office of Insurance Regulation.
Which of the following is an agreement between an insured and an insurer, where the
insurer agrees to indemnify the insured for specific losses in exchange for a premium? -
answerinsurance contract
All of the following are true regarding rebates EXCEPT - answerRebates are allowed if
it's in the best interest of the client.
Insurance companies may be classified according to the legal form of their ownership.
The type of company organized to return any surplus money to their policyholders is -
answerMutual insurer
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