Page 1 of 43 Florida Life and Health Insurance - Updated with Solution | All Covered Florida Life and Health Insurance.pdf
Florida Life and Health Insurance
The person covered by the insurance policy.
Insured
A written modification attached to a policy that increases or decreases coverage and/or premiums.
Rider
A contract in which only one of the parties is legally bound to fulfill its obligations.
What is a unilateral contract?
The Fair Credit Reporting Act.
What law protects consumers from the circulation of inaccurate or obsolete information?
Implied, Express, and Apparent.
What are the three types of agent authority?
Florida Life and Health Insurance Florida Life and Health Insurance.pdf Florida Life and Health Insurance.pdf
,Page 2 of 43 Florida Life and Health Insurance - Updated with Solution | All Covered Florida Life and Health Insurance.pdf
An individual who is licensed to sell, negotiate, or effect insurance contracts on behalf of the insurer.
Agent
Underwriting
What is name of the process that insurance companies use to determine whether or not an applicant is
insurable?
Fiduciary
The requirement that agents must account for and promptly remit all insurance funds collected is
known as what type of agent responsibility?
An insurance arrangement in which the policy owner and the insured are not the same person.
What is a third-party ownership?
Factors that determine if an insurance product is appropriate for a particular customer.
Suitability
A payment by the policy owner to the insurance company to keep the policy in force.
Florida Life and Health Insurance Florida Life and Health Insurance.pdf Florida Life and Health Insurance.pdf
,Page 3 of 43 Florida Life and Health Insurance - Updated with Solution | All Covered Florida Life and Health Insurance.pdf
Premium
Providing sufficient information to help someone make informed decision.
Disclosure
Rebating
An agent offer a client free tickets to a sporting event in exchange for the purchase of an insurance
policy. What is the agent guilty of?
Authorized
If an insurer meets the states financial requirements and is approved to transact business in the state, it
is considered what type of insurer?
Adverse medical information about the applicants or insureds.
What information are the members of the medical information bureau required to report?
Revocable
What type of beneficiary can be changed at any point by the policy owner?
Florida Life and Health Insurance Florida Life and Health Insurance.pdf Florida Life and Health Insurance.pdf
, Page 4 of 43 Florida Life and Health Insurance - Updated with Solution | All Covered Florida Life and Health Insurance.pdf
Policy Summary
What document describes the specific information about a policy?
Peril
What is the term for the causes of loss insured against in an insurance policy?
Insurance Company
Whom does an insurance agent represent?
Any fraudulent, deceptive, or dishonest business practice that is prohibited by statutes and regulations.
What is an unfair trade practice?
The company that issues an insurance policy.
Insurer
Cause of loss
Peril
Florida Life and Health Insurance Florida Life and Health Insurance.pdf Florida Life and Health Insurance.pdf
Florida Life and Health Insurance
The person covered by the insurance policy.
Insured
A written modification attached to a policy that increases or decreases coverage and/or premiums.
Rider
A contract in which only one of the parties is legally bound to fulfill its obligations.
What is a unilateral contract?
The Fair Credit Reporting Act.
What law protects consumers from the circulation of inaccurate or obsolete information?
Implied, Express, and Apparent.
What are the three types of agent authority?
Florida Life and Health Insurance Florida Life and Health Insurance.pdf Florida Life and Health Insurance.pdf
,Page 2 of 43 Florida Life and Health Insurance - Updated with Solution | All Covered Florida Life and Health Insurance.pdf
An individual who is licensed to sell, negotiate, or effect insurance contracts on behalf of the insurer.
Agent
Underwriting
What is name of the process that insurance companies use to determine whether or not an applicant is
insurable?
Fiduciary
The requirement that agents must account for and promptly remit all insurance funds collected is
known as what type of agent responsibility?
An insurance arrangement in which the policy owner and the insured are not the same person.
What is a third-party ownership?
Factors that determine if an insurance product is appropriate for a particular customer.
Suitability
A payment by the policy owner to the insurance company to keep the policy in force.
Florida Life and Health Insurance Florida Life and Health Insurance.pdf Florida Life and Health Insurance.pdf
,Page 3 of 43 Florida Life and Health Insurance - Updated with Solution | All Covered Florida Life and Health Insurance.pdf
Premium
Providing sufficient information to help someone make informed decision.
Disclosure
Rebating
An agent offer a client free tickets to a sporting event in exchange for the purchase of an insurance
policy. What is the agent guilty of?
Authorized
If an insurer meets the states financial requirements and is approved to transact business in the state, it
is considered what type of insurer?
Adverse medical information about the applicants or insureds.
What information are the members of the medical information bureau required to report?
Revocable
What type of beneficiary can be changed at any point by the policy owner?
Florida Life and Health Insurance Florida Life and Health Insurance.pdf Florida Life and Health Insurance.pdf
, Page 4 of 43 Florida Life and Health Insurance - Updated with Solution | All Covered Florida Life and Health Insurance.pdf
Policy Summary
What document describes the specific information about a policy?
Peril
What is the term for the causes of loss insured against in an insurance policy?
Insurance Company
Whom does an insurance agent represent?
Any fraudulent, deceptive, or dishonest business practice that is prohibited by statutes and regulations.
What is an unfair trade practice?
The company that issues an insurance policy.
Insurer
Cause of loss
Peril
Florida Life and Health Insurance Florida Life and Health Insurance.pdf Florida Life and Health Insurance.pdf
