FLORIDA 2-20 GENERAL LINES INSURANCE EXAM |GUARANTEED ACCURATE ANSWERS
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Course
Florida 2-20 agents license
Institution
Florida 2-20 Agents License
5 qualifications to become a General Lines agent - ACCURATE ANSWERS 1. At least 18 years of age
2. United States citizen or legal alien
3. Bona fide resident of Florida
4. Place of business located in Florida
5. Not licensed for purpose of writing controlled business
Department of Financial ...
FLORIDA 2-20 GENERAL LINES
INSURANCE EXAM |GUARANTEED
ACCURATE ANSWERS
5 qualifications to become a General Lines agent - ACCURATE
ANSWERS✔✔ 1. At least 18 years of age
2. United States citizen or legal alien
3. Bona fide resident of Florida
4. Place of business located in Florida
5. Not licensed for purpose of writing controlled business
Department of Financial Services (DFS) - ACCURATE ANSWERS✔✔
1. Approves issuance of licenses to agents, CR, and adjusters
2. Supervisions of claims
3. Investigate charges of unethical conduct and take judicial actions
Office of Insurance Regulation (OIR) - ACCURATE ANSWERS✔✔ 1.
Examines the qualifications of the insurance companies doing business
in FL
2. Examines the financial conditions of companies
3. Approves forms, rules, and rates
Office of Financial Regulation (OFR) - ACCURATE ANSWERS✔✔ 1.
Provides regulatory oversight to FL's financial providers
2. Reports to the FL Service Commission
, FL Surplus Lines Service Office - ACCURATE ANSWERS✔✔ 1.
Oversees the surplus lines industry
2. Reviews all surplus lines policies and documents
3. Collects surplus lines and taxes and fees
Risk - ACCURATE ANSWERS✔✔ Chance of financial loss
Policy - ACCURATE ANSWERS✔✔ Is a written contract for effecting
insurance and includes clauses, riders, endorsements, and papers which
are apart of the contract
Insurance - ACCURATE ANSWERS✔✔ Is a contract where one
undertakes to indemnify another or pay a specified amount determined
on contingencies
Binders - ACCURATE ANSWERS✔✔ Temporary insurance which can
be made orally or written. The insurer shall give 5 days' prior notice of
cancelling a binder unless the binder is replace by a policy. No notice is
required unless the binder exceeds 60 days.
Property Insurance - ACCURATE ANSWERS✔✔ Where payment is
made directly to the insured or other named interest
Liability Insurance - ACCURATE ANSWERS✔✔ Where payment is
made on behalf of the insured to another
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