FLORIDA LAWS AND RULES
ACTUAL EXAM QUESTIONS AND
DETAILED CORRECT ANSWERS
_______ free look period for long term care - correct
answer- 30 day
_________ of continuing education for every two years
for agents licensed for less than 6 years - correct
answer- 24 hours
__________ of continuing education for agents licensed
for more than 6 years - correct answer- 20
hours
1 Failure to answer a subpoena or an order of the CFO
2Violation of a cease and desist order
3 willful violation of the Insurance Code
4 Willfully submitting fraudulent signatures on an
application or policy related document - correct
,answer- The reasons a CFO can impose penalties or
suspend, terminate, or revoke a license
a certificate of authority permits... - correct
answer- an insurance company to transact business
in that state
a company that resides and is incorporated under the
laws of the state which its home office is located. -
correct answer- Domestic insurance company
a company whose home office is located in another state
is considered to be foreign in all states but its own. -
correct answer- Foreign Insurance Company
A health insurance agent license ______ required in order
to solicit long-term care insurance in the state of Florida
- correct answer- IS
A life insurance policyowner may sell their policy to a
____________ in order to receive a percentage of the
,policy's face value - correct answer- viatical
settlement provider
a long term care lapse notice must be delivered to both
the applicant and ________ - correct answer-
the secondary addressee
a multiple employer welfare arrangement (MEWA)
provides what benefits? - correct answer-
insurance
A person has to be at least how old to be licensed as an
agent in most states - correct answer- 18
a provision that states the policy, application, and all
attachments make up the entire contract between the
parties - correct answer- Entire Contract
a transaction in which a new policy or contract is to be
purchased, and the agent is aware that an existing policy
, or contract has been a number of options - correct
answer- Policy replacement
a variable life insurance agent must be licensed and
appointed as a life and variable contract agent as well as
- correct answer- a broker-dealer
administers and enforces compliance with Florida
Securities and Investor Protection Act. Designed to
protect the investing public and promote economic
growth. the division regulates the sale of securities in, to
or from Florida to determine compliance with state law -
correct answer- Division of securities
admitted mail order insurance companies can solicit
insurance business by mail ______ the assistance of a
licensed agent - correct answer- without
agents must continue to be appointed with an insurance
company to keep their license - correct answer-
True
ACTUAL EXAM QUESTIONS AND
DETAILED CORRECT ANSWERS
_______ free look period for long term care - correct
answer- 30 day
_________ of continuing education for every two years
for agents licensed for less than 6 years - correct
answer- 24 hours
__________ of continuing education for agents licensed
for more than 6 years - correct answer- 20
hours
1 Failure to answer a subpoena or an order of the CFO
2Violation of a cease and desist order
3 willful violation of the Insurance Code
4 Willfully submitting fraudulent signatures on an
application or policy related document - correct
,answer- The reasons a CFO can impose penalties or
suspend, terminate, or revoke a license
a certificate of authority permits... - correct
answer- an insurance company to transact business
in that state
a company that resides and is incorporated under the
laws of the state which its home office is located. -
correct answer- Domestic insurance company
a company whose home office is located in another state
is considered to be foreign in all states but its own. -
correct answer- Foreign Insurance Company
A health insurance agent license ______ required in order
to solicit long-term care insurance in the state of Florida
- correct answer- IS
A life insurance policyowner may sell their policy to a
____________ in order to receive a percentage of the
,policy's face value - correct answer- viatical
settlement provider
a long term care lapse notice must be delivered to both
the applicant and ________ - correct answer-
the secondary addressee
a multiple employer welfare arrangement (MEWA)
provides what benefits? - correct answer-
insurance
A person has to be at least how old to be licensed as an
agent in most states - correct answer- 18
a provision that states the policy, application, and all
attachments make up the entire contract between the
parties - correct answer- Entire Contract
a transaction in which a new policy or contract is to be
purchased, and the agent is aware that an existing policy
, or contract has been a number of options - correct
answer- Policy replacement
a variable life insurance agent must be licensed and
appointed as a life and variable contract agent as well as
- correct answer- a broker-dealer
administers and enforces compliance with Florida
Securities and Investor Protection Act. Designed to
protect the investing public and promote economic
growth. the division regulates the sale of securities in, to
or from Florida to determine compliance with state law -
correct answer- Division of securities
admitted mail order insurance companies can solicit
insurance business by mail ______ the assistance of a
licensed agent - correct answer- without
agents must continue to be appointed with an insurance
company to keep their license - correct answer-
True
