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Health Insurance Florida Statutes, Rules, and Regulations EXAM AND PRACTICE EXAM NEWEST ACTUAL EXAM COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+$27.99
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Health Insurance Florida Statutes, Rules, and Regulations EXAM AND PRACTICE EXAM NEWEST ACTUAL EXAM COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+
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Health Insurance Florida Statutes
Institution
Health Insurance Florida Statutes
Health Insurance Florida Statutes, Rules, and
Regulations EXAM AND PRACTICE EXAM NEWEST ACTUAL
EXAM COMPLETE QUESTIONS AND CORRECT DETAILED
ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+
Health Insurance Florida Statutes, Rules, and
Regulations EXAM AND PRACTICE EXAM NEWEST ACTUAL
EXAM ...
Health Insurance Florida Statutes, Rules, and
Regulations EXAM AND PRACTICE EXAM NEWEST ACTUAL
EXAM COMPLETE QUESTIONS AND CORRECT DETAILED
ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+
Mission: to protect the citizens of Florida, promote a safe and sound
financial marketplace, and contribute to the growth of Florida's
economy with smart, efficient and effective regulation of the financial
services industry.
Chief Financial Officer - CORRECT ANSWER An elected official.
Is the head of the Department of Financial Services (DFS).
Financial Services Commission - CORRECT ANSWER : responsible for
final approval of rules developed by each office. All regulatory
decisions are vested with the offices.
(a) Office of Financial Regulation (OFR) - regulates the banking,
finance and securities industries in Florida.
(b) Office of Insurance Regulation (OIR) - regulates insurance
companies.
Members:
- Governor
- Attorney General
- Chief Financial Officer
- Commissioner of Agriculture
,Office of Financial Regulation - CORRECT ANSWER In charge of
examining insurance company financials (books and records) and
approving companies to do business in the state.
The issue a Certificate of Authority to an insurance carrier.
Department of Financial Services - CORRECT ANSWER -Approves issue
of licenses to agents -Regulates insurance claims
- Investigate allegations of ethics violations
- Administers justice within the domain of insurance
Agent and Adjuster licensing and investigations - CORRECT ANSWER
Under the CFO, the DFS approves issue of licenses to agents,
regulates insurance claims, investigates allegations of ethics
violations, and administers justice within the domain of insurance.
Insurance Fraud - CORRECT ANSWER is any act committed with the
intent to obtain a fraudulent outcome from an insurance process. This
may occur when a claimant attempts to obtain some benefit or
advantage to which they are not otherwise entitled, or when an insurer
knowingly denies some benefit that is due.
Office of Insurance Regulation - CORRECT ANSWER The Commissioner
of Insurance is in charge of the Office of Insurance Regulation (OIR).
They are in charge of examining insurance company financials (books
and records), and approving companies to do business in the state. In
this regard, they issue a Certificate of Authority to an insurance
carrier.
Office of Financial Regulation - CORRECT ANSWER regulates the
banking, finance and securities industries in Florida.
Investigation - CORRECT ANSWER Process through which an insurance
company or examiner obtains necessary information to evaluate a
claim.
Insurance Contract - CORRECT ANSWER An insurance contract is a
"contract under which one party (the insurer) accepts significant
insurance risk from another party (the policyholder) by agreeing to
, compensate the policyholder if a specified uncertain future event (the
insured event) adversely affects the policyholder."
Insurance Transaction - CORRECT ANSWER Means solicitation,
negotiation, and putting into effect of insurance policies.
It also includes actions after the policy goes into effect, such as
issuing endorsements.
Insurer - CORRECT ANSWER a person or company that underwrites an
insurance risk; the party in an insurance contract undertaking to pay
compensation.
Reinsurance - CORRECT ANSWER is insurance that is purchased by an
insurance company (the "ceding company" or "cedent" or "cedant"
under the arrangement) from one or more other insurance companies
(the "reinsurer") directly or through a broker as a means of risk
management, sometimes in practice including tax mitigation and other
reasons described below.
Domestic Company - CORRECT ANSWER Domiciled in FL
Foreign Company - CORRECT ANSWER Domiciled in another state or US
territory (not a foreign country).
Alien Company - CORRECT ANSWER Domiciled in another country
Fraternals - CORRECT ANSWER insurance issued by a fraternal order or
association to its members, formerly meeting its obligations by
assessments upon members at the time obligations arose but now
generally by a legal reserve.
Stock Company - CORRECT ANSWER One that issues shares of stock to
shareholders.
Its purpose is to make a profit for the shareholders.
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