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Chapter Exam - FL Laws and Rules questions with correct answers respectively.
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Chapter Exam - FL Laws and Rules questions with correct answers respectively.
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Chapter Exam - FL Laws and Rulesquestions with correct answers
respectively.
in florida which agency is responsible for the rehabilitation or liquidation of insurers ANS - Department
of Financial Services
in florida what is the maximum percentage of controlled business an agent may produce ANS - 50%
what is the main reason for regulating the insurance industry ANS - maintain the solvency of insurance
companies.
a stock insurance company ANS - is owned exclusively by its shareholders.
under a life insurance policy, the (blank) has the authority to name the beneficiary. ANS - 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? ANS - coercion
k is insured under a group life insurance policy. k is considered to be a(n) ANS - certificate holder
group life policies in florida are required to contain a conversion privilege that allows for conversion
ANS - 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? ANS - coercion
which of the following is a standard provision of the conversion privileges in a group life policy? ANS -
group life coverage can be converted to an individual policy at regular rates on an attained age basis.
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