FLORIDA STATUTES COMPREHENSIVE EXAM UPDATED
QUESTIONS AND ANSWERS RATED A+
✔✔A Customer Representative's authority does not include: - ✔✔Conducting sales
work outside of the agent's office
✔✔When may an agent share commission? - ✔✔An agent may divide or share in
commissions with his or her employed solicitors and with other agents appointed and
licensed to write the same kind or kinds of insurance.
✔✔What role does state regulation play in a legitimate ERISA plan? - ✔✔State
insurance regulation does still apply to an insurer that may be financially responsible for
the payment of claims and any forms utilized in an insured ERISA plan.
✔✔What is meant by the term "alien insurer"? - ✔✔One who formed outside of the
United States or an insurer who is not domestic or foreign.
✔✔What lines of insurance are general lines agents qualified to write? - ✔✔except for
limited lines licenses, all property, marine, casualty, and surety lines except bail bonds.
✔✔A General Lines Agent is: - ✔✔One who may transact property insurance, casualty
insurance, surety insurance, health insurance, and marine insurance in the State of
Florida
✔✔A customer representative's powers include: - ✔✔A customer representative must
be a salaried employee of the agent or agency; his compensation cannot include
commissions and cannot be primarily based on the production of applications,
insurance, or premium
✔✔What are possible consequences for acting as an insurer without proper license? -
✔✔A. Any person acting as an insurer without a Certificate of Authority may be subject
to suspension or revocation of all insurance licenses
B. All of the answers are correct
C. Any person acting as an insurer without a Certificate of Authority may be convicted of
a third-degree felony
D. Subject to suspension or revocation of all insurance licenses
all of the answers
✔✔What is meant by the term "defamation"? - ✔✔Knowingly making, publishing,
disseminating, or circulating directly or indirectly which is falsely or maliciously critical of
any person and which is circulated to injure such person.
✔✔A Domestic Insurer is: - ✔✔An insurer formed under Florida laws, but which may
provide insurance in other states
, ✔✔Define the term Insurance. - ✔✔Includes any contract where one party agrees to
indemnify (restoring to the approximate financial condition prior to a loss) another party
after a loss.
✔✔Define "false claims or obtaining or retaining money dishonestly". - ✔✔Any agent
who represents to any insurer a false claim for payment, knowing the claim to be false is
guilty of a second-degree misdemeanor.
✔✔The Department of Financial Services of Florida may, upon written application and
payment of fees, issue a nonresident license: - ✔✔If a nonresident does not have a
place of business in Florida, or does not have a direct or indirect interest in any
insurance agency in Florida
✔✔What are "unlawful rebates"? - ✔✔Permitting or offering to make any rebate unless
plainly expressed in the insurance contract.
✔✔What are Florida's continuing educations requirements? - ✔✔Each licensee must
complete a minimum of 24 hours of continuing education courses every two years. A
person who has been licensed for a period of six or more years may complete 20 hours
every two years in intermediate or advanced level courses.
✔✔The Department of Financial Services may, at its discretion, issue a temporary
license: - ✔✔A. Only if no other person connected with the agent's business is licensed
as a general lines agent
B. In the event of death, disability, or absence of a general lines agent
C. All of the answers are correct
D. To a licensed agent's employee, family member, business associate, or personal
representative
ALL ARE CORRECT
✔✔When is a "Union Plan" exempt from state regulation? - ✔✔A "Union Plan", may
receive an express finding (in writing) from the U.S. Department of Labor that the
collective bargaining agreements between that union and the employers are bona fide
and be exempt from state regulation.
✔✔Self-insurance is: - ✔✔Any plan established for the purpose of providing for
employees or their beneficiaries, accident, disability or death benefits
✔✔How are agents appointed? - ✔✔B. An insurer appoints a general lines agent to
transact insurance or adjust claims on their behalf.
QUESTIONS AND ANSWERS RATED A+
✔✔A Customer Representative's authority does not include: - ✔✔Conducting sales
work outside of the agent's office
✔✔When may an agent share commission? - ✔✔An agent may divide or share in
commissions with his or her employed solicitors and with other agents appointed and
licensed to write the same kind or kinds of insurance.
✔✔What role does state regulation play in a legitimate ERISA plan? - ✔✔State
insurance regulation does still apply to an insurer that may be financially responsible for
the payment of claims and any forms utilized in an insured ERISA plan.
✔✔What is meant by the term "alien insurer"? - ✔✔One who formed outside of the
United States or an insurer who is not domestic or foreign.
✔✔What lines of insurance are general lines agents qualified to write? - ✔✔except for
limited lines licenses, all property, marine, casualty, and surety lines except bail bonds.
✔✔A General Lines Agent is: - ✔✔One who may transact property insurance, casualty
insurance, surety insurance, health insurance, and marine insurance in the State of
Florida
✔✔A customer representative's powers include: - ✔✔A customer representative must
be a salaried employee of the agent or agency; his compensation cannot include
commissions and cannot be primarily based on the production of applications,
insurance, or premium
✔✔What are possible consequences for acting as an insurer without proper license? -
✔✔A. Any person acting as an insurer without a Certificate of Authority may be subject
to suspension or revocation of all insurance licenses
B. All of the answers are correct
C. Any person acting as an insurer without a Certificate of Authority may be convicted of
a third-degree felony
D. Subject to suspension or revocation of all insurance licenses
all of the answers
✔✔What is meant by the term "defamation"? - ✔✔Knowingly making, publishing,
disseminating, or circulating directly or indirectly which is falsely or maliciously critical of
any person and which is circulated to injure such person.
✔✔A Domestic Insurer is: - ✔✔An insurer formed under Florida laws, but which may
provide insurance in other states
, ✔✔Define the term Insurance. - ✔✔Includes any contract where one party agrees to
indemnify (restoring to the approximate financial condition prior to a loss) another party
after a loss.
✔✔Define "false claims or obtaining or retaining money dishonestly". - ✔✔Any agent
who represents to any insurer a false claim for payment, knowing the claim to be false is
guilty of a second-degree misdemeanor.
✔✔The Department of Financial Services of Florida may, upon written application and
payment of fees, issue a nonresident license: - ✔✔If a nonresident does not have a
place of business in Florida, or does not have a direct or indirect interest in any
insurance agency in Florida
✔✔What are "unlawful rebates"? - ✔✔Permitting or offering to make any rebate unless
plainly expressed in the insurance contract.
✔✔What are Florida's continuing educations requirements? - ✔✔Each licensee must
complete a minimum of 24 hours of continuing education courses every two years. A
person who has been licensed for a period of six or more years may complete 20 hours
every two years in intermediate or advanced level courses.
✔✔The Department of Financial Services may, at its discretion, issue a temporary
license: - ✔✔A. Only if no other person connected with the agent's business is licensed
as a general lines agent
B. In the event of death, disability, or absence of a general lines agent
C. All of the answers are correct
D. To a licensed agent's employee, family member, business associate, or personal
representative
ALL ARE CORRECT
✔✔When is a "Union Plan" exempt from state regulation? - ✔✔A "Union Plan", may
receive an express finding (in writing) from the U.S. Department of Labor that the
collective bargaining agreements between that union and the employers are bona fide
and be exempt from state regulation.
✔✔Self-insurance is: - ✔✔Any plan established for the purpose of providing for
employees or their beneficiaries, accident, disability or death benefits
✔✔How are agents appointed? - ✔✔B. An insurer appoints a general lines agent to
transact insurance or adjust claims on their behalf.
