Florida laws and rules Exam Questions
Answered (Latest Update 2024)
Which of the following are an example of unfair trade
practice? - Correct Answer ✅Twisting and churning sliding
coercion misrepresentation defamation fraud Unfair
discrimination control business rebating false advertising
unfair claims settlement
A life policy loan in Florida cannot charge a fixed rate of
interest higher than? - Correct Answer ✅10%
Which of the following employees may NOT be excluded from
a group life plan? - Correct Answer ✅Full-time employees
after the probationary period
The policy summary contains specific information on all of the
following, EXCEPT: - Correct Answer ✅commission
Which Unfair Trade Practice involves making a false
statement on an insurance application in order to receive
money from an insurer? - Correct Answer
✅Misrepresentation
,Florida laws and rules Exam Questions
Answered (Latest Update 2024)
_____ can be defined as "using the contract values of an
existing policy to purchase a new policy with an existing
insurer". - Correct Answer ✅churning
Which of the following documents must an agent submit to
the replacing insurance company during the replacement of
an existing life insurance policy? - Correct Answer ✅Notice
to existing and replacing insurers of intention to replace
All of the following are Nonforfeiture Options except - Correct
Answer ✅Automatic Premium Loan Option
Which department oversees 'Market Conduct Examinations'
in Florida? - Correct Answer ✅Office of Insurance
Regulation. OIR
The fundamental reason for regulation of insurance is to -
Correct Answer ✅protect consumers
W gave W's age as 50 when W purchased a Life policy. At the
time of W's death seven years later, the company discovered
,Florida laws and rules Exam Questions
Answered (Latest Update 2024)
W's true age at issue had been 59. What would the normal
procedure be under the misstatement of age provision in
regard to the payment of the death claim? - Correct Answer
✅The proceeds would be reduced based on whatever the
premium would have been if purchased at age 59
Within how many days must a licensee notify the department
of financial services of a change in address? - Correct
Answer ✅30 days
All of the following entries are classified under the four
principal areas of Florida insurance law except - Correct
Answer ✅A. An agents commission
B. Policyowner rights
C. Policy provisions
D. An agents licensing requirements
A. an agents commission
Which of the following factors is not considered when the
department of financial services determines if an agents
, Florida laws and rules Exam Questions
Answered (Latest Update 2024)
home is an insurance agency? - Correct Answer ✅The
amount of premium collected at this location
Go to requires an insurance agent must complete _____ hours
of continuing education on the subject of law and ethics
every two years - Correct Answer ✅5 hours
Agents that have been license for less than six years must
complete ___ Hours of continuing education every two years -
Correct Answer ✅24 hours
A licensed agent must be appointed by an insurance
company to solicit insurance in Florida. The agents license
will terminate if a certain period of time lapses without being
appointed how long is this period of time? - Correct Answer
✅48 months
What is the maximum percentage of controlled business an
agent may produce? - Correct Answer ✅50%
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