FLORIDA STATUTES FINAL EXAM ACTUAL QUESTIONS
AND ANSWERS RATED A+
✔✔Rebating of a portion of an agent's commission is permitted: - ✔✔If a rebate
schedule is prominently displayed in public view at the agent's place of business
✔✔Who may appoint a Customer Representative? - ✔✔A general lines agent or a
general lines insurance agency
✔✔What are conditions under which a licensee can rebate a license? - ✔✔A. Both of
the answers are correct Correct
B. None of the answers are correct
C. The rebate must be available to all insured in the same actuarial class, uniformly
applied and not subject to discrimination.
D. The rebate must be in accordance with the filed rebating schedule.
both are correct
✔✔What are "unfair claim settlement practices"? - ✔✔Attempting to settle claims on the
basis of an application or material document which was altered without notice to or
knowledge or consent of the insured or a material misrepresentation for the purpose of
settlement of a claim on less favorable terms.
✔✔What are conditions under which the Department has a mandatory obligation to
deny an application or suspended, revoke, or refused to renew or continue the license
or appointment of any applicant or licensee? - ✔✔A. Any of the answers are correct
B. Material misstatement, misrepresentation, or fraud in obtaining the license or
appointment
C. Failure to pass the licensed exam
D. Lack of one or more qualifications for the license or appointment
any are correct
✔✔An Authorized Insurer is: - ✔✔An insurance company who has received a certificate
of authority from the State of Florida
✔✔Define the term "insurer". - ✔✔Any person engaged in the business of insurance or
annuities.
✔✔Which of the following is not grounds for discretionary refusal, suspension or
revocation of the license of a general lines agent or customer representative? -
✔✔Demonstration of a lack of reasonably adequate knowledge and technical
competence to engage in the transactions authorized by the license
, ✔✔Is a legitimate ERISA Self-Insurance plan necessarily an insurance plan subject to
state regulation? - ✔✔A genuine single-employer ERISA plan is not subject to direct
state insurance regulation
✔✔What are the requirements for a general lines agent's license? - ✔✔A. The applicant
must be a natural person at least 18 years at age
B. All of the answers are correct
C. The applicant must be a bona fide resident at this state
D. The applicant must be qualified as to knowledge, experience or instruction in the
business of insurance, must have passed any required examination or license, etc.
all are correct
✔✔What are possible consequences for aiding and abetting an unauthorized insurer? -
✔✔A. All of the answers are correct
B. Conviction of a third-party felony
C. Liability for all unpaid claims of the unauthorized insurer
D. Subject to suspension or revocation of all insurance licenses
all are correct
✔✔Which of the following are not Unfair Methods of Competition or Unfair or Deceptive
Acts? - ✔✔Giving to an insured, for advertising purposes, an article of merchandise
having a value of $25. or less.
✔✔Are agencies operating in Florida required to have a license? - ✔✔Yes, as of
October 1, 2006 all agencies must file for licensure or registration
✔✔An agent may place business with an insurer for which he or she is not appointed as
an agent as long as he or she is appointed for such business by another insurer
("Exchange of business")if? - ✔✔A. A licensed agent must countersign all policies.
B. The insurer assigns a unique brokering agent's register number to each agent not
appointed with the insurer and furnishes the agent with the insurer`s forms, coverage
documents, binders, applications, and other incidental supplies.
C. All of the answers are correct Correct
D. Each form, coverage document, binder, and application must predominantly display,
(in 12-point type or the size of any other entity name whichever is larger, capital letters
or boldfaced type, and be printed with the name of the insurer at the top.
all are correct
✔✔A Customer Representative's authority does not include: - ✔✔Conducting sales
work outside of the agent's office
AND ANSWERS RATED A+
✔✔Rebating of a portion of an agent's commission is permitted: - ✔✔If a rebate
schedule is prominently displayed in public view at the agent's place of business
✔✔Who may appoint a Customer Representative? - ✔✔A general lines agent or a
general lines insurance agency
✔✔What are conditions under which a licensee can rebate a license? - ✔✔A. Both of
the answers are correct Correct
B. None of the answers are correct
C. The rebate must be available to all insured in the same actuarial class, uniformly
applied and not subject to discrimination.
D. The rebate must be in accordance with the filed rebating schedule.
both are correct
✔✔What are "unfair claim settlement practices"? - ✔✔Attempting to settle claims on the
basis of an application or material document which was altered without notice to or
knowledge or consent of the insured or a material misrepresentation for the purpose of
settlement of a claim on less favorable terms.
✔✔What are conditions under which the Department has a mandatory obligation to
deny an application or suspended, revoke, or refused to renew or continue the license
or appointment of any applicant or licensee? - ✔✔A. Any of the answers are correct
B. Material misstatement, misrepresentation, or fraud in obtaining the license or
appointment
C. Failure to pass the licensed exam
D. Lack of one or more qualifications for the license or appointment
any are correct
✔✔An Authorized Insurer is: - ✔✔An insurance company who has received a certificate
of authority from the State of Florida
✔✔Define the term "insurer". - ✔✔Any person engaged in the business of insurance or
annuities.
✔✔Which of the following is not grounds for discretionary refusal, suspension or
revocation of the license of a general lines agent or customer representative? -
✔✔Demonstration of a lack of reasonably adequate knowledge and technical
competence to engage in the transactions authorized by the license
, ✔✔Is a legitimate ERISA Self-Insurance plan necessarily an insurance plan subject to
state regulation? - ✔✔A genuine single-employer ERISA plan is not subject to direct
state insurance regulation
✔✔What are the requirements for a general lines agent's license? - ✔✔A. The applicant
must be a natural person at least 18 years at age
B. All of the answers are correct
C. The applicant must be a bona fide resident at this state
D. The applicant must be qualified as to knowledge, experience or instruction in the
business of insurance, must have passed any required examination or license, etc.
all are correct
✔✔What are possible consequences for aiding and abetting an unauthorized insurer? -
✔✔A. All of the answers are correct
B. Conviction of a third-party felony
C. Liability for all unpaid claims of the unauthorized insurer
D. Subject to suspension or revocation of all insurance licenses
all are correct
✔✔Which of the following are not Unfair Methods of Competition or Unfair or Deceptive
Acts? - ✔✔Giving to an insured, for advertising purposes, an article of merchandise
having a value of $25. or less.
✔✔Are agencies operating in Florida required to have a license? - ✔✔Yes, as of
October 1, 2006 all agencies must file for licensure or registration
✔✔An agent may place business with an insurer for which he or she is not appointed as
an agent as long as he or she is appointed for such business by another insurer
("Exchange of business")if? - ✔✔A. A licensed agent must countersign all policies.
B. The insurer assigns a unique brokering agent's register number to each agent not
appointed with the insurer and furnishes the agent with the insurer`s forms, coverage
documents, binders, applications, and other incidental supplies.
C. All of the answers are correct Correct
D. Each form, coverage document, binder, and application must predominantly display,
(in 12-point type or the size of any other entity name whichever is larger, capital letters
or boldfaced type, and be printed with the name of the insurer at the top.
all are correct
✔✔A Customer Representative's authority does not include: - ✔✔Conducting sales
work outside of the agent's office
