Florida statutes, rules, and regulations common to all lines
insurance companies may be classified according to the legal form of their ownership. the type of company organized to return any surplus money to their policyholders is
a mutual insurer
which of the following is true regarding branch agency licensing?
agent in charge must be licensed
when transacting business in this state an insurer formed under the laws of another country is known as a/an
alien insurer
which of the following will NOT be considered unfair discrimination by insurers?
discriminating in benefits and coverages based in the insured's habits and lifestyle
insurance contracts are agreements between which two parties?
insurer and insured
which of the following insurers are owned by stockholders who have the usual rights of ownership, including the right of voting?
stock
which of the following is NOT a responsibility of Office of Insurance Regulation?
Enacting new insurance laws.
the requirement that agents not commingle insurance monies with their own funds is known as
Fiduciary responsibility
on its advertisement, a company claims that it has funds in its possession that are, in fact, not available for the payment of losses or claims. the company is guilty of
Misrepresentation.
no insurance policy form can be issued, delivered, or used in this state unless it has been
filed with and approved by the office of insurance regulation
the agent in charge of an agency must hold of the following licenses?
general lines
which of the following is an agreement between an insured and an insurer, where the insurer agrees to indemnify the insured for specific losses in exchange for a premium?
the insurance contract
what are the 2 offices of the financial services commission?
The Office of Financial Regulation and the Office of Insurance Regulation.
which of the following best describes and insurance company that has been formed under the laws of this state?
domestic
which of the following entities is responsible for agent licensing and administrative supervision?
the office of insurance regulation
