Chapter 19/1: FLORIDA GENERAL REVIEW

In order for a person to act as an insurance agent, an insurer or appointing entity must have them:

A person must be currently licensed by the Insurance Department and appointed by an insurer or appointing entity in order to act as an insurance agent. The correct answer is: Appointed

A termination of appointment must be sent in writing to the Insurance Department within:

A termination of appointment must be sent in writing to the Insurance Department within 30 days. The correct answer is: 30 days

In Florida, which of the following is NOT a type of "agent"?

An agent is a general lines agent, life agent, health agent, or title agent. The correct answer is: Annuity agent

In Florida, the term "agent" includes which of the following?

An agent is a general lines agent, life agent, health agent, or title agent. In Florida, the term "agent" does not include a customer service representative, limited customer representative, or service representative. The correct answer is: General lines agent

Who is a self-employed person that ascertains and determines the amount of a claim, loss or damage?

An all lines adjuster is a person who is self-employed, employed by an insurer, or an independent adjusting firm that ascertains and determines the amount of a claim, loss or damage. The correct answer is: Public adjuster

An appointing entity must give how much notice before the termination of an appointment?

An appointing entity may terminate an appointment with at least 60 days notice. The correct answer is: 60 days

Applicants for a disability insurance license must complete how many hours of approved prelicensing education?

Applicants for a disability insurance license must complete 40 hours of approved prelicensing education. The correct answer is: 40 hours

Applicants for a life and disability insurance license must complete how many hours of approved prelicensing education?

Applicants for a life and disability insurance license must complete 60 hours of approved prelicensing education. The correct answer is: 60 hours

Applicants for a life insurance license must complete how many hours of approved prelicensing education?

Applicants for a life insurance license must complete 40 hours of approved prelicensing education. The correct answer is: 40 hours

Applicants for an insurance license may take the licensing examination up to how many times in a 12-month period?

Applicants for an insurance license may not take the licensing examination more than 5 times in a 12-month period. The correct answer is: 5

Appointments expire on the last day of the appointee's birth month after:

Appointments expire 24 months later on the last day of the appointee's birth month. The correct answer is: 24 months

Licensee must complete at least how many hours of continuing education in law and ethics that is specific to the licensee's license every licensing period?

Each licensee, except a title insurance agent, must complete 5 hours of continuing education in law and ethics that is specific to the licensee's license every 2 years. The correct answer is: 5 hours

What is the first action the Office of Insurance Regulation will take for an insurer engaging in an unsound practice?

If the Office of Insurance Regulation finds that a state financial institution has engaged in unsound or unsafe practice, it may issue a cease and desist order. The correct answer is: A cease and desist order

Licensees must complete at least how many hours of continuing education courses every licensing period?

Licensees must complete a minimum of 24 hours of continuing education courses every 2 years. The correct answer is: 24 hours

The Insurance Department may place on probation, suspend, revoke or refuse to issue or renew an insurance producer license for which of the following reasons?

The Insurance Department may place on probation, suspend, revoke or refuse to issue or renew an insurance producer license for failing to pay child support. The correct answer is: Failing to pay child support

The Office of Insurance Regulation has all the following duties, EXCEPT:

The Office of Insurance Regulation has the following duties: rate-making supervision, policy forms approval, market conduct investigation, issuing insurer certificates of authority, assessing insurers' solvency, regulating viatical settlements, regulating premium financing arrangements and administrative supervision. The Florida legislature creates insurance laws. The correct answer is: Creating insurance laws

Besides an attorney, who is a person that prepares, completes or files insurance claim forms for insureds and third parties?

A public adjuster is a person (except an attorney) who prepares, completes or files insurance claim forms for insureds and third parties for compensation. The correct answer is: Public adjuster

Who is a person that aids insureds and third parties in negotiating the settlement of insurance claims?

A public adjuster is a person who aids insureds and third parties in negotiating the settlement of insurance claims for compensation. The correct answer is: Public adjuster

An emergency cease and desist order by the Office of Insurance Regulation is effective for how many days?

An emergency cease and desist order by the Office of Insurance Regulation is effective immediately and remains effective for 90 days. The correct answer is: 30 days

What is a business location where an entity engages in activities that may only be performed by a licensed insurance agent?

An insurance agency is a business location where an individual, firm, partnership, corporation, association, or other entity engages in activities that may only be performed by a licensed insurance agent. An "agency" does not include an insurer or adjuster. The correct answer is: An insurance agency

Which of the following cannot be an insurance agency?

An insurance agency is a business location where an individual, firm, partnership, corporation, association, or other entity engages in activities that may only be performed by a licensed insurance agent. An "agency" does not include an insurer or adjuster. The correct answer is: Insurer

What is the charge for an insurance agent licensed in Florida that knowingly represents or aids an unauthorized insurer?

Any insurance agent licensed in Florida that knowingly represents or aids an unauthorized insurer commits a third degree felony. The correct answer is: Third degree felony

If a licensee is found guilty of a felony, how much time do they have to report it to the Florida Department of Insurance?

Each licensee must advise the department in writing within 30 days after having been found guilty of or having pleaded guilty or nolo contendere (no contest) to a felony or a crime punishable by imprisonment of 1 year or more under the laws of the United States, any state of the United States, or any other country, without regard to whether a judgment of conviction has been entered by the court having jurisdiction. The correct answer is: 30 days

Once a consumer complaint has been filed, an insurance company has how many days to respond to the Insurance Department?

Once a consumer complaint has been filed, an insurance company has 20 days to respond to the Insurance Department. The correct answer is: 20 days

How often must the Office of Insurance Regulation conduct an examination of a domestic insurer that has held a certificate of authority for less than 3 years?

The Office of Insurance Regulation must conduct an examination at least every year of a domestic insurer that has held a certificate of authority for less than 3 years. The correct answer is: Every year