Part 12

Which of the following persons is required to hold a producer liscence? a) A person who negotiates insurance contracts b) A person who creates insurance advertisements c)A person who takes messages related to claims d) A person who administers employee benefits

a) A person who negotiates insurance contracts

#119. How are state Insurance Guaranty Associations funded? a) By their members - authorized insurers b) By the Department of Insurance c) By NAIC d) By the Government

a) By their members - authorized insurers

#117. A long-term care shopper's guide must be presented at what point? a) Prior to the time of application b) At the time of application c) Between the completion of the application and the delivery of the policy d) At the time of policy delivery

a) Prior to the time of application

When a group terminates, every individual insures under the policy will be entitled to have an individual policy if the insured has been insured by the group policy for at least how many years prior to policy termination? a) 3 years b) 5 years c) 7 years d) 1 year

b) 5 years

In order to maintain an insurance license, an agent will need to satisfy Florida's continuing education requirement of: a) 24 hours of continuing education each year b) 20 hours of continuing education in every 2-year period c) 24 hours of continuing education in every 2-year period d) 20 hours of continuing education each year

c) 24 hours of continuing education in every 2-year period

#120. How long must an insurer retain an advertisement for its long-term care policies? a) 1 year b) 2 years c) 3 years d) 5 years

c) 3 years

All of the following are correct about life insurance policy load interest rate EXCEPT: a) An insurance company may charge a fixed rate of up to 10% b) A policy will be terminated if the loan and accrued interest exceed the loan value c) There are no restrictions or limitations on policy loan rates d) An adjustable rate of interest can be charged

c) There are no restrictions or limitations on policy loan rates

#115. Which of the following is true regarding branch agency licensing? a)There are no special licensing requirements. b)Agent in charge must be licensed. c)All its agents must be licensed. d)The branch must secure an agency license.

c)All its agents must be licensed.

#113. Which of the following insurers are owned by stockholders who have the usual rights of ownership, including the right of voting? a)Reciprocal b)Fraternal c)Stock d)Mutual

c)Stock

#118. If a claim is made on a policy during the grace period, an insurer is allowed to deduct the overdue premium and to charge interest. What is the maximum allowed interest rate? a) 2% b) 4% c) 6% d) 8%

d) 8%