HEALTH INSURANCE FLORIDA 2-40 PRACTICE EXAM
QUESTIONS #2 BRAND NEW ACTUAL EXAM WITH ANSWERS
Which of the following is a function of the Bureau of Financial Investigations?
A) Supervise insurer and agent licensing
B) Prosecute violations of Insurance or Criminal law
C) Handle consumer complaints
D) Act as a criminal justice agency within the DFS - correct answer -
Act as a criminal justice agency within the DFS
(The Bureau of Financial Investigations does not supervise insurer and agent
licensing, prosecute violations of Insurance or Criminal law, or handle
consumer complaints.)
Which of the following is FALSE with respect to the Division of Rehabilitation
and Liquidation?
A) The Division handles unclaimed property
B) The Division plans, coordinates, and directs the conservation,
rehabilitation, and liquidation of insolvent insurance companies
C) The Division monitors the financial condition of insurers and
rehabilitates or liquidates insurers as needed
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D) The Division performs the duties as receiver of any insurer placed into
receivership in Florida - correct answer -The Division handles unclaimed
property
Which of the following handles unclaimed property?
A) The Division of Rehabilitation and Liquidation
B) The Department of Commerce Division of Unclaimed Funds
C) The Division of Consumer Services
D) The Department of Financial Services - correct answer -The Department
of Commerce Division of Unclaimed Funds
The Division of Financial Services also has the power to do all of the following
EXCEPT?
A) Regulate policy forms and rates
B) Regulate the state Medicaid program
C) Guard against unauthorized insurance activities
D) Oversee the insurance industry based on the Insurance Code - correct
answer -Regulate the state Medicaid program
Which of the following is NOT correct with respect to approval of policy forms
and rates?
A) An insurer must submit the filing 30 days prior to use
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B) The Office has 60 days to approve or disapprove or request a change to
the filing
C) Application forms must be filed for approval
D) Every filing must include the effective date and character and extent of the
changes - correct answer -The Office has 60 days to approve or disapprove or
request a change to the filing
(The Office has 30 days to approve or disapprove or request a change to the
filing.)
With regard to market conduct examinations...
A) The costs of examinations are paid by the Market Investigation Division
B) The Special Investigations Unit conducts market conduct
examinations
C) The Division of Financial Services of the Office conducts market
conduct examinations
D) All accounts, records, documents, files, etc. must be freely available to the
examiners - correct answer -All accounts, records, documents, files, etc. must
be freely available to the examiners
(The costs of an examinations will be paid by the person or entity examined,
the Special Investigations Unit investigates allegations of unauthorized and
illegal insurance activity; the Division of Market Investigations conducts market
conduct examinations.)
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Which of the following statement is FALSE regarding certificates of authority?
A) A Certificate of Authority is not required to transact surplus lines
insurance
B) No person can act as an insurer unless authorized by a Certificate
of Authority
C) A Certificate of Authority is not required for authorized
reinsurance transactions
D) Any person who acts as an insurer, transacts insurance, or otherwise
engages in insurance activities in this state without a Certificate of Authority
commits a misdemeanor - correct answer - Any person who acts as an insurer,
transacts insurance, or otherwise engages in insurance activities in this state
without a Certificate of Authority commits a misdemeanor
(Any person who acts as an insurer, transacts insurance, or otherwise engages
in insurance activities in this state without a Certificate of Authority commits a
felony of the 1st, 2nd or 3rd degree.)
Which of the following is NOT a purpose of licensing?
A) To authorize and enable the licensee to actively and in good faith engage
in the insurance business as an agent
B) For the applicant to be familiar with the Florida insurance laws