FL Health Agent 240 Questions and Answers Already Passed

FL Health Agent 240 Questions and Answers Already Passed An organization that transacts insurance only with its own members is a(n): Fraternal The ____________ has the power to issue rules and regulations to help enforce insurance laws. Commissioner, Superintendent, or Director All of the following are essential elements of a legal contract, EXCEPT: Representation Which of the following manufactures and sells insurance coverage in the form of insurance policies or contracts of insurance? Insurance companies The contract type in which only one party is legally bound to its contractual obligations after a premium is paid is a(n)_______ contract. Unilateral A(n)____________ is the person or entity that is covered by an insurance policy. Insured Fraternal insurance companies are owned by: Members Members of the ___________ include state and territorial insurance commissioners or regulators. National Association of Insurance Commissioners (NAIC) The ___________ branch writes and passes state insurance laws, or statutes, to protect the insuring public. Legislative For the most part, the highest authority for insurance regulation is: The individual states Insurable interest for life insurance is necessary only at the time of: Application Insurers that are incorporated in another state, but doing business in this state, are considered: Foreign Stock insurance companies are owned by: Stockholders When it comes to life insurance, insurable interest on one's own life is: Unlimited Which of the following best describes a conditional contract? Both parties must perform specified duties in order for the contract to be enforceable Which principle states that an insured may be reimbursed