FL Statutes Property & Casualty Exam
Questions and Answers (Solved Papers)
What is the primary Function of the CFO?
A. To Administer the Insurance Laws
B. To pas laws regarding the insurance industry
C. To negotiate the ethical standards with the insurance
industry.
D. to become the advocate for the insurance agents int he
state. - Correct Answers ✅A. To Administer the Insurance
Laws
How Does an insurance company terminate an appointment
of an agent?
A. The company must notify the Department Financial
Services in writing that the agent no longer represents that
company.
B. The company will send a letter to the ages. The agent
must notify the Department of Financial Services if they are
terminated.
C. Nothing is required to be done until next renewal.
D. The CFO is only Interested in who is appointed, not when
they are terminated. - Correct Answers ✅A. The company
must notify the Department Financial Services in writing that
the agent no longer represents that company.
What is a Foreign Insurance Company?
,FL Statutes Property & Casualty Exam
Questions and Answers (Solved Papers)
A. A company that is chartered inside of the state
B. A company that is chartered outside of the state
C. A company that is chartered in another country
D. A company that is not an alien company - Correct
Answers ✅B. A company that is chartered outside of the
state
Which of the following is an Alien Company?
A. A company that was chartered in Atlanta and licensed in
Georgia
B. A company that was chartered in San Francisco and doing
business in Maine
C. A company that was chartered in Paris and doing business
Florida
D. A company that is under investigation from the
department of Financial Services - Correct Answers ✅C. A
company that was chartered in Paris and doing business in
Florida.
CFO interprets the law on rebating as all of the following
EXCEPT?
,FL Statutes Property & Casualty Exam
Questions and Answers (Solved Papers)
A. Agent places additional items on the premium without
explaining them to the insured.
B. Agent returns part of the commission or something of
value to encourage the person to buy insurance from them.
C. Agent reduces the premium for the insurance by taking
less commission.
D. the buyer receives a $100 gourmet meal if they buy
insurance from the agent. - Correct Answers ✅A. Agent
places additional items on the premium without explaining
them to the insured.
How can an insurance agent obtain an appointment in the
State of Florida ?
A. Request that an insurance company permit the agent to
represent them and then send an appointment form and the
appropriate fee to Department of Financial Services.
B. The Department of Financial Services appoints the agent to
the specific companies they desire them to represent.
C. the Agent must be sponsored before sitting for the state
exam. The agent must then work only for that company.
D. There is no requirement to be appointed as long the agent
has passed the state exam . - Correct Answers ✅A.
Request that an insurance company permit the agent to
represent them and then send an appointment form and the
appropriate fee to the Department of Financial Services.
, FL Statutes Property & Casualty Exam
Questions and Answers (Solved Papers)
When a company advertises information that was
intentionally false, this is know as :
A. Misrepresentation
B. Products and Completed Operations
C. Twisting
D. Rebating - Correct Answers ✅A. Misrepresentation
A Commercial agent has been directed by the Department of
Financial Services to Cease and Desist . What is the penalty if
the agent does not ?
A. $ 1,000
B. $ 2,500
C. $ 10,000
D. $ 50,000 - Correct Answers ✅D. $ 50,000
Who does the agent represent when selling insurance ?
A. Customer
B. Insurance Company
C. Department of Financial Services
D. The agent himself - Correct Answers ✅B. Insurance
Company
Questions and Answers (Solved Papers)
What is the primary Function of the CFO?
A. To Administer the Insurance Laws
B. To pas laws regarding the insurance industry
C. To negotiate the ethical standards with the insurance
industry.
D. to become the advocate for the insurance agents int he
state. - Correct Answers ✅A. To Administer the Insurance
Laws
How Does an insurance company terminate an appointment
of an agent?
A. The company must notify the Department Financial
Services in writing that the agent no longer represents that
company.
B. The company will send a letter to the ages. The agent
must notify the Department of Financial Services if they are
terminated.
C. Nothing is required to be done until next renewal.
D. The CFO is only Interested in who is appointed, not when
they are terminated. - Correct Answers ✅A. The company
must notify the Department Financial Services in writing that
the agent no longer represents that company.
What is a Foreign Insurance Company?
,FL Statutes Property & Casualty Exam
Questions and Answers (Solved Papers)
A. A company that is chartered inside of the state
B. A company that is chartered outside of the state
C. A company that is chartered in another country
D. A company that is not an alien company - Correct
Answers ✅B. A company that is chartered outside of the
state
Which of the following is an Alien Company?
A. A company that was chartered in Atlanta and licensed in
Georgia
B. A company that was chartered in San Francisco and doing
business in Maine
C. A company that was chartered in Paris and doing business
Florida
D. A company that is under investigation from the
department of Financial Services - Correct Answers ✅C. A
company that was chartered in Paris and doing business in
Florida.
CFO interprets the law on rebating as all of the following
EXCEPT?
,FL Statutes Property & Casualty Exam
Questions and Answers (Solved Papers)
A. Agent places additional items on the premium without
explaining them to the insured.
B. Agent returns part of the commission or something of
value to encourage the person to buy insurance from them.
C. Agent reduces the premium for the insurance by taking
less commission.
D. the buyer receives a $100 gourmet meal if they buy
insurance from the agent. - Correct Answers ✅A. Agent
places additional items on the premium without explaining
them to the insured.
How can an insurance agent obtain an appointment in the
State of Florida ?
A. Request that an insurance company permit the agent to
represent them and then send an appointment form and the
appropriate fee to Department of Financial Services.
B. The Department of Financial Services appoints the agent to
the specific companies they desire them to represent.
C. the Agent must be sponsored before sitting for the state
exam. The agent must then work only for that company.
D. There is no requirement to be appointed as long the agent
has passed the state exam . - Correct Answers ✅A.
Request that an insurance company permit the agent to
represent them and then send an appointment form and the
appropriate fee to the Department of Financial Services.
, FL Statutes Property & Casualty Exam
Questions and Answers (Solved Papers)
When a company advertises information that was
intentionally false, this is know as :
A. Misrepresentation
B. Products and Completed Operations
C. Twisting
D. Rebating - Correct Answers ✅A. Misrepresentation
A Commercial agent has been directed by the Department of
Financial Services to Cease and Desist . What is the penalty if
the agent does not ?
A. $ 1,000
B. $ 2,500
C. $ 10,000
D. $ 50,000 - Correct Answers ✅D. $ 50,000
Who does the agent represent when selling insurance ?
A. Customer
B. Insurance Company
C. Department of Financial Services
D. The agent himself - Correct Answers ✅B. Insurance
Company
