Florida Life and Health Insurance Practice Questions/ 373 Q&A/ .
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Course
Florida Life and Health
Institution
Florida Life And Health
Florida Life and Health Insurance Practice Questions/ 373 Q&A/ . Terms like:
According to Florida law, which of the following statements accurately describes an admitted mail order insurance company? - Answer: It may solicit insurance business by mail only without the assistance of a licensed F...
Florida Life and Health Insurance Practice
Questions/ 373 Q&A/ 2024-2025.
According to Florida law, which of the following statements accurately describes an admitted
mail order insurance company? - Answer: It may solicit insurance business by mail only without
the assistance of a licensed Florida agent
According to Florida law, an additional lapse notice must be issued after the standard grace
period has expired for policyowners age... - Answer: 64 years or older
Which action could result in a hearing being ordered by the Department of Financial Services? -
Answer: Performing insurance transactions without a license
Which of the following professional organizations has its code of ethics incorporated into Florida
law? - Answer: National Association of Insurance and Financial Advisors (NAIFA)
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,Which entity approves the insurance policy forms used in Florida? - Answer: Office of Insurance
Regulation (OIR)
In Florida, agents are allowed to engage in rebating if... - Answer: Offered to all insured in the
same actuarial class
In Florida, when agents recommend changes be made for existing coverage, the agent must
follow established procedures. The name of this rule is called the... - Answer: Florida
Replacement Rule
In Florida, an element of an insurance transaction would be... - Answer: Issuing an insurance
contract
The Bureau of Unclaimed Property is overseen by... - Answer: The chief financial officer
Within how many days must a licensee notify the Department of Financial Services of a change
in address? - Answer: 30
All of the following entries are classified under the four principal areas of Florida insurance law
EXCEPT... - Answer: An agent's commission
Which of the following factors is NOT considered when the Department of Financial Services
determines if an agent's home is an insurance agency? - Answer: The amount of premium
collected at this location
Florida requires that an insurance agent must complete __ hours of continuing education on the
subject of law and ethics every two years - Answer: 5
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,Agents that have been licensed for less than six years must complete __ hours of continuing
education every two years - Answer: 24
A licensed agent must be appointed by an insurance company to solicit insurance in Florida. The
agent's license will terminate if a certain period of time elapses without being appointed. How
long is this period of time? - Answer: 48
What is the maximum percentage of controlled business an agent may produce? - Answer: 50%
A group plan was recently terminated. In Florida how many days are covered individuals
guaranteed coverage after a group plan's termination? - Answer: 31 days
The Financial Services Commision may hold hearings... - Answer: For any reason deemed
necessary
In Florida, an insurer domiciled and incorporated in this state is called... - Answer: Domestic
company
One of the stated purposes of the Life and Health Insurance Guaranty Association is... - Answer:
To assist in the prevention of insurer insolvencies
The Life and health Insurance Guaranty Association is funded by... - Answer: Assessments on
member companies
The purpose of the Guaranty Fund is to... - Answer: Ensure that claims filed against involvement
insurance companies will be paid
The rules and regulations of the Life and health Insurance Guaranty Association apply to... -
Answer: Life and health policies issues by companies authorized in that particular state
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, The fund that assures policyholder payment of benefits on Life and Health Policies, if the
company is involved at the time of the claim, is called the... - Answer: The Life and Health
Insurance Guaranty Association
A stock life insurance company that issues both participating and nonparticipating policies is
doing business on... - Answer: Mixed plan
A stock insurance company is owned by - Answer: Its stockholders
Who is a mutual insurance company owned by? - Answer: Its policyholders
Which type of insurance company allows their policyowners to elect a governing body? -
Answer: Mutual
What percentage of eligible persons must a policy cover in a noncontributory group? - Answer:
100%
Which of the following employer tasks does a Professional Employer Organization normally
handle? - Answer: Administration tasks
The Coordination of Benefits (COB) provision exists in order to... - Answer: Avoid duplication of
benefit payments
M completes an application for health insurance but does not pay the initial premium. All of
these actions must occur before M's policy goes into effect EXCEPT? - Answer: Free look period
has expired
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