FL Health agent 240 Exam Questions with Answers
100% Verified Graded A+
1. An organization that transacts insurance only with its own members is a(n) -
Answer: Fraternal
2. The has the power to issue rules and regulations to help enforce
insurance laws.
Answer: Commissioner, Superintendent, or Director
3. All of the following are essential elements of a legal contract, EXCEPT
Answer: Repre- sentation
4. Which of the following manufactures and sells insurance coverage in the form
of insurance policies or contracts of insurance?
Answer: Insurance companies
5. The contract type in which only one party is legally bound to its contractual
,obligations after a premium is paid is a(n) contract.
Answer: Unilateral
6. A(n) is the person or entity that is covered by an insurance policy.-
Answer: Insured
7. Fraternal insurance companies are owned by
Answer: Members
8. Members of the include state and territorial insurance commis-
sioners or regulators.
Answer: National Association of Insurance Commissioners (NAIC)
9. The branch writes and passes state insurance laws, or statutes, to
protect the insuring public.
Answer: Legislative
10. For the most part, the highest authority for insurance regulation is
Answer: The individual states
11. Insurable interest for life insurance is necessary only at the time of
Answer: Application
12. Insurers that are incorporated in another state, but doing business in this
, state, are considered
Answer: Foreign
13. Stock insurance companies are owned by
Answer: Stockholders
14. When it comes to life insurance, insurable interest on one's own life is
Answer: Unlim- ited
15. Which of the following best describes a conditional contract?
Answer: Both parties must perform specified duties in order for the contract to be enforceable
16. Which principle states that an insured may be reimbursed up to the amount
of the actual loss?
Answer: Indemnity
17. What gives an insurer the authority to operate within this state?
Answer: A Certificate of Authority
100% Verified Graded A+
1. An organization that transacts insurance only with its own members is a(n) -
Answer: Fraternal
2. The has the power to issue rules and regulations to help enforce
insurance laws.
Answer: Commissioner, Superintendent, or Director
3. All of the following are essential elements of a legal contract, EXCEPT
Answer: Repre- sentation
4. Which of the following manufactures and sells insurance coverage in the form
of insurance policies or contracts of insurance?
Answer: Insurance companies
5. The contract type in which only one party is legally bound to its contractual
,obligations after a premium is paid is a(n) contract.
Answer: Unilateral
6. A(n) is the person or entity that is covered by an insurance policy.-
Answer: Insured
7. Fraternal insurance companies are owned by
Answer: Members
8. Members of the include state and territorial insurance commis-
sioners or regulators.
Answer: National Association of Insurance Commissioners (NAIC)
9. The branch writes and passes state insurance laws, or statutes, to
protect the insuring public.
Answer: Legislative
10. For the most part, the highest authority for insurance regulation is
Answer: The individual states
11. Insurable interest for life insurance is necessary only at the time of
Answer: Application
12. Insurers that are incorporated in another state, but doing business in this
, state, are considered
Answer: Foreign
13. Stock insurance companies are owned by
Answer: Stockholders
14. When it comes to life insurance, insurable interest on one's own life is
Answer: Unlim- ited
15. Which of the following best describes a conditional contract?
Answer: Both parties must perform specified duties in order for the contract to be enforceable
16. Which principle states that an insured may be reimbursed up to the amount
of the actual loss?
Answer: Indemnity
17. What gives an insurer the authority to operate within this state?
Answer: A Certificate of Authority
