Florida 2-20 General Lines Insurance
Test Questions And Correct Answers
5 qualifications to become a General Lines agent
1. At least 18 years of age
2. United States citizen or legal alien
3. Bona fide resident of Florida
4. Place of business located in Florida
5. Not licensed for purpose of writing controlled business
Department of Financial Services (DFS)
1. Approves issuance of licenses to agents, CR, and adjusters
2. Supervisions of claims
3. Investigate charges of unethical conduct and take judicial actions
Office of Insurance Regulation (OIR)
1. Examines the qualifications of the insurance companies doing business in FL
2. Examines the financial conditions of companies
3. Approves forms, rules, and rates
, Office of Financial Regulation (OFR)
1. Provides regulatory oversight to FL's financial providers
2. Reports to the FL Service Commission
FL Surplus Lines Service Office
1. Oversees the surplus lines industry
2. Reviews all surplus lines policies and documents
3. Collects surplus lines and taxes and fees
Risk
Chance of financial loss
Policy
Is a written contract for effecting insurance and includes clauses, riders,
endorsements, and papers which are apart of the contract
Insurance
Is A Contract Where One Undertakes To Indemnify Another Or Pay A Specified
Amount Determined On Contingencies
Test Questions And Correct Answers
5 qualifications to become a General Lines agent
1. At least 18 years of age
2. United States citizen or legal alien
3. Bona fide resident of Florida
4. Place of business located in Florida
5. Not licensed for purpose of writing controlled business
Department of Financial Services (DFS)
1. Approves issuance of licenses to agents, CR, and adjusters
2. Supervisions of claims
3. Investigate charges of unethical conduct and take judicial actions
Office of Insurance Regulation (OIR)
1. Examines the qualifications of the insurance companies doing business in FL
2. Examines the financial conditions of companies
3. Approves forms, rules, and rates
, Office of Financial Regulation (OFR)
1. Provides regulatory oversight to FL's financial providers
2. Reports to the FL Service Commission
FL Surplus Lines Service Office
1. Oversees the surplus lines industry
2. Reviews all surplus lines policies and documents
3. Collects surplus lines and taxes and fees
Risk
Chance of financial loss
Policy
Is a written contract for effecting insurance and includes clauses, riders,
endorsements, and papers which are apart of the contract
Insurance
Is A Contract Where One Undertakes To Indemnify Another Or Pay A Specified
Amount Determined On Contingencies
