Chapter Five

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A license life agent must complete how many hours of continuing education every two years?

24 hours

If a licensee changes, his or her residence address, within how many days must the department be notified?

30 days

Every licensing., A life insurance agent must complete how many hours of continuing education on law and ethics?

4 hours

In the state of Florida, a licensee's commission from controlled business in any given year may not exceed what percentage of the total commission?

50%

A temporary license is normally...

6 months

What is true regarding the agents appointments?

A person may hold several appointments at one time

What person is required to hold an agents license in the state?

A salaried employee who advertises and solicits insurance

An agent cannot receive a commission from an insurance company without what?

An appointment with the company

If an insurance company makes a statement that it's policies are guaranteed by the existence of the insurance guaranty association, that would be considered...

An unfair trade practice

An agent who deliberately make some Elissa statement about another insurance company, is guilty of an illegal trade practice called....

Defamation

An insurance company that is formed under the laws of another state is known as which type of insurer?

Foreign

The operating objective of a stock insurance company is...

Fraternal benefit society

What is the type of discrimination that would be considered legal?

In benefits on the basis of difference, life expectancy

What type of policies do mutual company is usually sell?

Participating

The operating objective of a stock insurance company is....

Profit for stockholders

An agent who offers a cash reward to a prospect for buying a policy is guilty of...

Rebating

The department of financial services is not responsible for...

Setting premium rates

An agents license our appointment, May not be suspended or revoked for the following reason...

Sharon commissions with another agent

If the department issue is a cease and desist order, that means the insurer must...

Stop committing a particular violation

What is not an unfair claims settlement practice?

Suggesting negotiations and settling the claim

Who pays the agents appointment fees?

The insurer

Who does not administer insurance laws in Florida?

The national Association of insurance commissioners

What entity is responsible for agent, licensing, and administrative supervision?

The office of insurance regulation

An insurance agent would not be guilty as miss representation of the agent made the following statement...

These insurance companies and policies differ in their features and benefits

Which type of misrepresentation persuades an insured, to his, or her detriment, to cancel, lapse, or switch policies from one to another?

Twisting


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