Residual Markets and Regulations

When an insurance licensee moves, he has how long to notify the Florida Dept. of Financial Services of his change of address? a. 10 days b. 30 days c. 60 days d. 180 days

B. 30 days

John wrote a policy through the Florida Automobile Joint Underwriting Association, and the company issued the policy. What is the company issuing the policy called ? a. A standard carrier b. A servicing carrier c. A non-standard carrier d. A competent carrier

B. A servicing carrier

Which of the following is NOT one of the duties of the Florida Department of Financial Services? a. The Department investigates charges of unethical conduct. b. The Department writes policies for the non-standard insurance companies. c. The Department issues licenses for adjusters & customer service representatives d. The Department approves various policy forms used by companies.

B. The Department writes policies for the non-standard insurance companies.

The Continuing Education requirement to maintain an Adjuster license (5-20 or 6-20) in Florida is: a. Not required for any adjuster license. b. Only required if adjuster does worker compensation. c. 24 hours every two years. d. Five hours every three years,

C. 24 hours every two years.

Continuing education requirements to maintain a Customer representative license are: a. Not required for 4-40 license. b. Only required for general lines agent license. c. Ten hours every two years. d. Five hours every three years.

C. Ten hours every two years.

When an insurance licensee ends his appointment with an authorized company in Florida, he has how long to secure another appointment? a. 10 days b. 12 months c. 24 months d. 48 months

D. 48 months

Activities that may result in license suspension or revocation include: a. Lacking reasonable knowledge & technical competence b. Misappropriation of funds c. Failure to notify the Dept. of Insurance in writing within 30 days after pleading guilty to a felony d. All of the above

D. All of the above

Activities that may result in license suspension or revocation include: a. Transacting insurance outside the scope of the license b. Misrepresentation or fraud c. Participating in "Unfair methods of competition" or "Unfair Practices" d.All of the above

D. All of the above

Activities that may result in license suspension or revocation include: a. Using discriminatory practices b. Making false entries on an insurance application c. Defaming another agent or company d. All of the above

D. All of the above

All of the following are true concerning Joint Underwriting Associations EXCEPT : a. Operations overseen by a board of governors b. Policyholders must be unable to purchase coverage on the open market c. Citizens replaced FRP&CJUA and Florida Windstorm d. It is not possible to purchase a Homeowners or Dwelling Policy from Citizens

D. It is not possible to purchase a Homeowners or Dwelling Policy from Citizens