FL STATUTES-220 EXAM QUESTIONS
WITH AND ANSWERS
Misrepresentation - ANSWER-Co. doing false advertising
concealment - ANSWER-The potential insured knowingly omitted saying something
on an app
preliminary negotiations - ANSWER-What is qualified for "transacting insurance"
voidance of the contract - ANSWER-A breach under the doctrine of warranty may
result in:
The DFS finds you to be incompetent and untrustworthy - ANSWER-Why would the
state decline your license
Appointing Entity - ANSWER-Who is responsible for paying fees and penalties when
renewing an appointment late
$% - 5% - 10% - ANSWER-What is the hurricane deductible for a HO policy
Expressed authority - ANSWER-Insurance co and the power they give an agent in
their contract is considered
Public - ANSWER-Which type of adjuster is hired to represent a claimant in
negotiating the claim with the insurer
aiding and abetting - ANSWER-allowing an unlicensed family member to solicit new
business for an agent, as the manager of an agency, encouraging the agents of the
agents to sell products of an unauthorized insure, even if not selling the products
himself and violation is a 6 month suspension
$100 - ANSWER-How much is an agent allowed to spend on a gift for clients without
committing the unfair practice of rebating
twisting, churning, rebating, sliding, coercion and misrepresentation - ANSWER-
Unfair trade practice example (s)
$10,000 - ANSWER-IA does not obtain an IA license what is the penalty
Dept of Fin Services - ANSWER-Issuing licenses to agents, unclaimed property and
audits claims firms are responsibilities of what department
coercion - ANSWER-bank requiring indiv seeking loan to purchase insurance from
them is known as
, Solvency of the co - ANSWER-Office of insurance regulation examines records of
insurance company to determine
2 year - ANSWER-How long is an agent appointed?
Division of Investigative and Forensic Divisions - ANSWER-Investigate and enforce
penalties for insurance fraud
CFO - ANSWER-Who is in charge of unclaimed property?
1 year - ANSWER-How long after the first hurricane watch or warning will the
hurricane period have expired?
24 hours - ANSWER-How many hours of continuing education does an agent
licensed under 6 years need?
concealment - ANSWER-not relying info material to a risk
30 days - ANSWER-How long does an insurance co have to advise the insured the
insurance company's position on a claim?
sliding - ANSWER-When an agent places coverage on the policy and falsely tells the
customer they need a certain coverage by law
Wind-mitigation openings (chimneys are not an example) - ANSWER-skylight, doors
with no windows and garage doors are examples of:
OIR (office of insurance regulations) - ANSWER-Who approves insurers insurance
forms?
.3% - ANSWER-The surplus line tax
Alien - ANSWER-IC was charted in Hong kong and doing business in the US. What
is this co considered?
4 - ANSWER-how many hours of law of ethics classes
5 years - ANSWER-DFS requires agents to keep policy records, other than
payments for a minimum of:
expiration - ANSWER-Non-renewal occurs when
1 year after damage - ANSWER-how long does insured have to file a hurricane claim
rejected by 3 admitted companies - ANSWER-When can an insured qualify for a
Florida surplus lines service office policy (FSLSO)
FIGA (FL insurance guaranty association) - ANSWER-Group that assists the
consumers when the insurer is insolvent
WITH AND ANSWERS
Misrepresentation - ANSWER-Co. doing false advertising
concealment - ANSWER-The potential insured knowingly omitted saying something
on an app
preliminary negotiations - ANSWER-What is qualified for "transacting insurance"
voidance of the contract - ANSWER-A breach under the doctrine of warranty may
result in:
The DFS finds you to be incompetent and untrustworthy - ANSWER-Why would the
state decline your license
Appointing Entity - ANSWER-Who is responsible for paying fees and penalties when
renewing an appointment late
$% - 5% - 10% - ANSWER-What is the hurricane deductible for a HO policy
Expressed authority - ANSWER-Insurance co and the power they give an agent in
their contract is considered
Public - ANSWER-Which type of adjuster is hired to represent a claimant in
negotiating the claim with the insurer
aiding and abetting - ANSWER-allowing an unlicensed family member to solicit new
business for an agent, as the manager of an agency, encouraging the agents of the
agents to sell products of an unauthorized insure, even if not selling the products
himself and violation is a 6 month suspension
$100 - ANSWER-How much is an agent allowed to spend on a gift for clients without
committing the unfair practice of rebating
twisting, churning, rebating, sliding, coercion and misrepresentation - ANSWER-
Unfair trade practice example (s)
$10,000 - ANSWER-IA does not obtain an IA license what is the penalty
Dept of Fin Services - ANSWER-Issuing licenses to agents, unclaimed property and
audits claims firms are responsibilities of what department
coercion - ANSWER-bank requiring indiv seeking loan to purchase insurance from
them is known as
, Solvency of the co - ANSWER-Office of insurance regulation examines records of
insurance company to determine
2 year - ANSWER-How long is an agent appointed?
Division of Investigative and Forensic Divisions - ANSWER-Investigate and enforce
penalties for insurance fraud
CFO - ANSWER-Who is in charge of unclaimed property?
1 year - ANSWER-How long after the first hurricane watch or warning will the
hurricane period have expired?
24 hours - ANSWER-How many hours of continuing education does an agent
licensed under 6 years need?
concealment - ANSWER-not relying info material to a risk
30 days - ANSWER-How long does an insurance co have to advise the insured the
insurance company's position on a claim?
sliding - ANSWER-When an agent places coverage on the policy and falsely tells the
customer they need a certain coverage by law
Wind-mitigation openings (chimneys are not an example) - ANSWER-skylight, doors
with no windows and garage doors are examples of:
OIR (office of insurance regulations) - ANSWER-Who approves insurers insurance
forms?
.3% - ANSWER-The surplus line tax
Alien - ANSWER-IC was charted in Hong kong and doing business in the US. What
is this co considered?
4 - ANSWER-how many hours of law of ethics classes
5 years - ANSWER-DFS requires agents to keep policy records, other than
payments for a minimum of:
expiration - ANSWER-Non-renewal occurs when
1 year after damage - ANSWER-how long does insured have to file a hurricane claim
rejected by 3 admitted companies - ANSWER-When can an insured qualify for a
Florida surplus lines service office policy (FSLSO)
FIGA (FL insurance guaranty association) - ANSWER-Group that assists the
consumers when the insurer is insolvent
