WEBCE Law and Ethics Update: Life, Health and Variable Annuities (215) Exam Questions with Answers

Delta Insurers appointed Joe as its agent. Can Joe let his brother, Agent Shawn, use his appointment to transact insurance? Correct Answer No, Joe cannot let Shawn transact insurance by using his appointment. James is a licensed agent who lives in Florida. He moves to Georgia. By when must he notify the Department of Financial Services of his move? Correct Answer within 30 days What are the responsibilities of the Office of Insurance Regulation and the Department of Financial Services? Correct Answer regulating the state's insurance industry How often must an agent's appointment be renewed? Correct Answer every 24 months Which system does the Department of Financial Services use to accept agent appointments? Correct Answer eAppoint Which entity regulates banks, credit unions, and securities industry participants in Florida? Correct Answer Office of Financial Regulation An insurer may cancel an agent's appointment by giving the agent how many days' notice? Correct Answer 60 Jeff is a licensed insurance agent in both New York and Florida. He was charged with embezzlement in New York and pleaded guilty to the charge on March 1. He must notify the Florida Department of Financial Services of the charge within how many days? Correct Answer 30 Terry has been licensed in Florida as a life insurance producer for the past two years. To maintain his license, how many hours of continuing education must he complete every two years? Correct Answer 24 Abby has been working in an insurance agency and now wants to apply for an agent's license. Which of the following does she not have to do? Correct Answer (Wrong) pass a written exam ABC Insurers wants to appoint Nick as its agent. Which statement is correct about submitting the appointment application and fee? Correct Answer ABC Insurers must submit both the fee and appointment application electronically.