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Chapter 17 2 Florida General Regulations Continued questions with answers.
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Chapter 17 2 Florida General Regulations Continued questions with answers.
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Chapter 17 2 Florida GeneralRegulations Continued questions with
answers.
In Florida, what is the minimum age to become licensed as an insurance producer? ANS - The minimum
age to become licensed as an insurance producer in Florida is 18.
The correct answer is: 18
What is the biennial license fee for an insurance agent in Florida? ANS - The agent appointment fee and
biennial renewal is $60 (including tax), paid by each appointing insurer.
The correct answer is: $60
How much notice must an appointing entity give an appointee before their termination? ANS - An
appointing entity may terminate its appointment of any appointee at any time. Except when termination
is upon a ground which would subject the appointee to suspension or revocation of their license and
appointment, and except as provided by contract between the appointing entity and the appointee, the
appointing entity will give at least 60 days' advance written notice of its intention to terminate such
appointment to the appointee.
The correct answer is: 60 days
Which of the following is a correct statement concerning an application? ANS - Agents cannot make
changes to the insurance application. No alteration of any written application for any life or health
insurance policy shall be made by any person other than the applicant without his written consent,
except that insertions may be made by the insurer, for administrative purposes only, in such manner as
to indicate clearly that such insertions are not to be ascribed to the applicant.
The correct answer is: All of the above
In Florida, who pays the biennial agent appointment renewal fee? ANS - The appointing insurer pays
the appointment renewal fee for each appointed agent.
The correct answer is: Insurers
Which of the following is false? ANS - All persons performing the duties of an agent must be licensed as
an agent in Florida. An insurance agency is any business location where individuals engage in the actions
, which may only be performed by a licensed insurance agent. Each insurance agency must have an agent
in charge. Such person must be full-time at the particular agency location. All branch locations must also
be licensed separately. One agent in charge can manage several branch locations. A life and/or health
agent working out of his home does not need to license his home as an insurance agency.
The correct answer is: All branch locations may also be licensed together.
How long may a licensed nonresident of Florida transact insurance before they must have a resident
license? ANS - Any individual who holds a Florida nonresident agent's license, upon becoming a
resident of Florida may, for a maximum period of 90 days, continue to transact insurance in Florida
under the nonresident license and appointment. Such individual must make application for resident
licensure and must become licensed as a resident agent within 90 days after becoming a Florida
resident.
The correct answer is: 90 days
How much is the fine if an agent fails to report a change in address or phone number in the required
timeframe? ANS - Failure to notify the department within the required time period will result in a fine
not to exceed $250 for the first offense and, for subsequent offenses, a fine of at least $500 or
suspension or revocation of the license.
The correct answer is: $250 the first time and $500 the second time
Agents who have been licensed for less than 6 years must complete how many continuing education
hours every 2 years? ANS - Agents must complete a minimum of 24 hours of continuing education
courses every 2 years. At least 3 of the hours must be ethics. For life agents, at least 3 of the hours must
cover suitability in annuity and life insurance transactions. Agents who have been licensed for 6 or more
years must complete 20 hours of continuing education courses every 2 years.
The correct answer is: 24 hours
Which of the following must be shown on the first page of the application form at the time the premium
is quoted? ANS - All applications for an insurance policy or annuity contract must prominently display
the name of the insuring entity on the first page of the application form at the time the coverage is
bound or premium is quoted. Applications will also disclose the name and license identification number
of the agent as shown on the agent's license issued by the department. The name and license
identification number of the agent must be shown on the first page.
The correct answer is: All of the above
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