Florida Life Insurance Questions And
Answers 100% Verified.
Mutual cInsurance cCompanies c- c ccorrect canswer. c c corganized cand cincorporated cunder
cstate claws. cNo cstockholders.
Mutual ccompanies c- c ccorrect canswer. c c cParticipating, cthey cpay cdividends.
Stock ccompany c- c ccorrect canswer. c c cOwns cStock. cNonparticipating c(no cdividends)
Risk cRetention cGroup c- c ccorrect canswer. c c cMutual ccompany cformed cto cinsure cppl cin cthe
csame cbusiness, coccupation, cprofession c(pharmacists, cdentists, cengineers)
Fraternal cBenefit cSocieties c- c ccorrect canswer. c c cNon cprofit corganization, clodge csystem
cthat cincludes critualistic cwork, cand cmaintain ca crep cform cof cgov cwith celected cofficers.
FICA c- c ccorrect canswer. c c cMade cup cof cSocial cSecurity cand cMedicare
Variable cProduct c- c ccorrect canswer. c c cDual clicense. cOne clicense cissued cby cFINRA c& cthe
cother cLife c& cAnnuity c(issued cby cthe cstate)
Fair cCredit cReporting cAct c- c ccorrect canswer. c c cConsumers chave cthe cright cto cquestion
cwhat cis con ctheir ccredit creport
Domestic cinsurer c- c ccorrect canswer. c c ccompany cdoing cbusiness cin cthe cstate cin cwhich cit cis
cincorporated
Foreign cinsurer c- c ccorrect canswer. c c ccompany clicensed c& cdoing cbusiness cin cstates cother
cthan cthe cone cin cwhich cit cis cincorporated
Buyers cGuides c- c ccorrect canswer. c c cgeneric c(explain cvarious ctypes cof clife cinsurance
cproducts, cincluding cvariable cannuities)
, Policy cSummaries c- c ccorrect canswer. c c cSpecific cto cthe cPolicy c- cids cthe cagent, cinsurer,
cpolicy, ceach crider, cand cincludes cinfo cabout cpremiums, cdividends, cbenefit camounts, ccash
csurrender cvalues, cpolicy cloan cinterest crates, cand clife cinsurance ccost cindexes cof cthe
cspecific cpolicy cbeing cconsidered
National cAssociation cof cIns cCommissioners c(NAIC) c- c ccorrect canswer. c c cEncourage
cUniformity, cAssist cin cadmin cof claws c& cregs, cProtect cinterest cof cpolicy cowners, cPreserve
cstate cregulation
Warranty c- c ccorrect canswer. c c ca cstatement cguaranteed cto cbe ctrue
Representation c- c ccorrect canswer. c c cstatement cby cclient c(best cof ctheir cknowledge). cWe
cgive cthe cclient cthe cbenefit cof cthe cdoubt
Concealment c- c ccorrect canswer. c c cfailure cby capplicant cto cdisclose ca cknown cmaterial cfact
cat ctime cof capplication
Insurable cinterest c- c ccorrect canswer. c c cInterest cmust cexist cat cthe cinception cof cthe cpolicy
Fiduciary c- c ccorrect canswer. c c ca cperson cholds ca cspecial cFINANCIAL ctrust cand
cconfidence c(agent)
Producer c- c ccorrect canswer. c c cBroker cor cagent
Professional cLiability cIns c- c ccorrect canswer. c c cprotect cagainst clegal cliability c(like
cmalpractice cins)
Fraud c- c ccorrect canswer. c c cInsurer creason cto cvoid ca ccontract c(2 cyears cfrom cdate
cinsurance cissued)
Fudiciary c- c ccorrect canswer. c c cspecial cfinancial ctrust
Twisting c- c ccorrect canswer. c c cExternal c- cIllegal cif cnot cin cthe cbest cinterest cfor cthe cclient
Churning c- c ccorrect canswer. c c cInternal c- creplacing cpolicies cwithin cthe csame ccompany.
cIllegal cif cnot cin cthe cbest cinterest cfor cthe cclient
Coercion c- c ccorrect canswer. c c capply cphysical cor cmental cforce cor cthreat cto cpersuade c(the
cmafia)
Unfair cDiscrimination c- c ccorrect canswer. c c cmaking ca cdistinction, cin csales, cunderwriting,
cpricing, cclaims chandling, cor cother cins capplicant cfunction, cbetween c2 cdiff cindividuals cof
csubstantially cthe csame cclassification
Answers 100% Verified.
Mutual cInsurance cCompanies c- c ccorrect canswer. c c corganized cand cincorporated cunder
cstate claws. cNo cstockholders.
Mutual ccompanies c- c ccorrect canswer. c c cParticipating, cthey cpay cdividends.
Stock ccompany c- c ccorrect canswer. c c cOwns cStock. cNonparticipating c(no cdividends)
Risk cRetention cGroup c- c ccorrect canswer. c c cMutual ccompany cformed cto cinsure cppl cin cthe
csame cbusiness, coccupation, cprofession c(pharmacists, cdentists, cengineers)
Fraternal cBenefit cSocieties c- c ccorrect canswer. c c cNon cprofit corganization, clodge csystem
cthat cincludes critualistic cwork, cand cmaintain ca crep cform cof cgov cwith celected cofficers.
FICA c- c ccorrect canswer. c c cMade cup cof cSocial cSecurity cand cMedicare
Variable cProduct c- c ccorrect canswer. c c cDual clicense. cOne clicense cissued cby cFINRA c& cthe
cother cLife c& cAnnuity c(issued cby cthe cstate)
Fair cCredit cReporting cAct c- c ccorrect canswer. c c cConsumers chave cthe cright cto cquestion
cwhat cis con ctheir ccredit creport
Domestic cinsurer c- c ccorrect canswer. c c ccompany cdoing cbusiness cin cthe cstate cin cwhich cit cis
cincorporated
Foreign cinsurer c- c ccorrect canswer. c c ccompany clicensed c& cdoing cbusiness cin cstates cother
cthan cthe cone cin cwhich cit cis cincorporated
Buyers cGuides c- c ccorrect canswer. c c cgeneric c(explain cvarious ctypes cof clife cinsurance
cproducts, cincluding cvariable cannuities)
, Policy cSummaries c- c ccorrect canswer. c c cSpecific cto cthe cPolicy c- cids cthe cagent, cinsurer,
cpolicy, ceach crider, cand cincludes cinfo cabout cpremiums, cdividends, cbenefit camounts, ccash
csurrender cvalues, cpolicy cloan cinterest crates, cand clife cinsurance ccost cindexes cof cthe
cspecific cpolicy cbeing cconsidered
National cAssociation cof cIns cCommissioners c(NAIC) c- c ccorrect canswer. c c cEncourage
cUniformity, cAssist cin cadmin cof claws c& cregs, cProtect cinterest cof cpolicy cowners, cPreserve
cstate cregulation
Warranty c- c ccorrect canswer. c c ca cstatement cguaranteed cto cbe ctrue
Representation c- c ccorrect canswer. c c cstatement cby cclient c(best cof ctheir cknowledge). cWe
cgive cthe cclient cthe cbenefit cof cthe cdoubt
Concealment c- c ccorrect canswer. c c cfailure cby capplicant cto cdisclose ca cknown cmaterial cfact
cat ctime cof capplication
Insurable cinterest c- c ccorrect canswer. c c cInterest cmust cexist cat cthe cinception cof cthe cpolicy
Fiduciary c- c ccorrect canswer. c c ca cperson cholds ca cspecial cFINANCIAL ctrust cand
cconfidence c(agent)
Producer c- c ccorrect canswer. c c cBroker cor cagent
Professional cLiability cIns c- c ccorrect canswer. c c cprotect cagainst clegal cliability c(like
cmalpractice cins)
Fraud c- c ccorrect canswer. c c cInsurer creason cto cvoid ca ccontract c(2 cyears cfrom cdate
cinsurance cissued)
Fudiciary c- c ccorrect canswer. c c cspecial cfinancial ctrust
Twisting c- c ccorrect canswer. c c cExternal c- cIllegal cif cnot cin cthe cbest cinterest cfor cthe cclient
Churning c- c ccorrect canswer. c c cInternal c- creplacing cpolicies cwithin cthe csame ccompany.
cIllegal cif cnot cin cthe cbest cinterest cfor cthe cclient
Coercion c- c ccorrect canswer. c c capply cphysical cor cmental cforce cor cthreat cto cpersuade c(the
cmafia)
Unfair cDiscrimination c- c ccorrect canswer. c c cmaking ca cdistinction, cin csales, cunderwriting,
cpricing, cclaims chandling, cor cother cins capplicant cfunction, cbetween c2 cdiff cindividuals cof
csubstantially cthe csame cclassification
