215 Florida Laws and Rules Exam
Questions and Answers18
Appointment - ANSWERS-authority given to an agent to transact business on behalf of the
insurer. No one can act as an insurance agent unless currently licensed by the department and
appointed by the insurer
24 months - ANSWERS-New appointments will expire __________ on the last day of the
licensee's birth month
60 days - ANSWERS-an appointing entity may terminate its appointment of any appointee at any
time with at least _______ notice
30 days - ANSWERS-within _______ after terminating the appointment, the entity must file
written notice with the department including the reasons and facts involved in termination
48 months - ANSWERS-an agent's license will terminate if __________ elapse before being
appointed for the class or classes of insurance listed on the license
Renewing or maintaining a license (Continuing education) - ANSWERS-an agent needs to follow
these guidelines every two years to maintain their license
2 years - ANSWERS-an agent needs to follow these guidelines every_________ to maintain their
license
24 hours - ANSWERS-_________ of continuing education for every two years for agents licensed
for less than 6 years
,20 hours - ANSWERS-__________ of continuing education for agents licensed for more than 6
years
4 hours - ANSWERS-any continuing education must include minimum of ______ in law and
ethics
License fees, appointment and renewal fees - ANSWERS-agents must pay these fees every two
years
True - ANSWERS-agents must continue to be appointed with an insurance company to keep
their license
Unfair trade practices - ANSWERS-any deceptive, fraudulent, or otherwise injurious practices or
acts (as to a consumer) are declared unlawful by statute or recognized as actionable at common
law
Unfair claims settlements - ANSWERS-improper avoidance of a claim by the insurer or an
attempt to reduce the size of its claim by engaging in unfair claim practices to reduce costs
Domestic, foreign, or alien - ANSWERS-insurance companies have to get classified in these three
classification according to the location of its corporation
true - ANSWERS-Regardless of where the insurance company is incorporated, it still has to get a
certificate of authority before transacting insurance within a state
Domestic insurance company - ANSWERS-a company that resides and is incorporated under the
laws of the state which its home office is located.
Foreign Insurance Company - ANSWERS-a company whose home office is located in another
state is considered to be foreign in all states but its own.
, Domestic - ANSWERS-company chartered in Florida would be a _________ insurance company
in Florida
Foreign - ANSWERS-company chartered in Texas would be a _________ insurance company in
Florida
Alien insurance company - ANSWERS-company chartered and organized in any country other
than the United States
Alien - ANSWERS-would be considered an _______ insurance company in all 50 states
Free-Look - ANSWERS-Also known as the "Right to Examine"
Free-Look - ANSWERS-Health insurance policies must provide a minimum period of 10 days
upon policy delivery. If the policyowner does not want to keep the policy within 10 days a full
refund will be given
Grace Period - ANSWERS-life insurance policies must provide a __________ of 31 days after the
due date.
31 days - ANSWERS-life insurance policies must provide a grace period of ________ after the
due date
may deduct the premium - ANSWERS-if the insured dies during the grace period, the insurance
company ___________due from the death benefit
YES - ANSWERS-Is Replacement strictly regulated and requires full disclosure by both the agent
and the replacing insurance company.
Questions and Answers18
Appointment - ANSWERS-authority given to an agent to transact business on behalf of the
insurer. No one can act as an insurance agent unless currently licensed by the department and
appointed by the insurer
24 months - ANSWERS-New appointments will expire __________ on the last day of the
licensee's birth month
60 days - ANSWERS-an appointing entity may terminate its appointment of any appointee at any
time with at least _______ notice
30 days - ANSWERS-within _______ after terminating the appointment, the entity must file
written notice with the department including the reasons and facts involved in termination
48 months - ANSWERS-an agent's license will terminate if __________ elapse before being
appointed for the class or classes of insurance listed on the license
Renewing or maintaining a license (Continuing education) - ANSWERS-an agent needs to follow
these guidelines every two years to maintain their license
2 years - ANSWERS-an agent needs to follow these guidelines every_________ to maintain their
license
24 hours - ANSWERS-_________ of continuing education for every two years for agents licensed
for less than 6 years
,20 hours - ANSWERS-__________ of continuing education for agents licensed for more than 6
years
4 hours - ANSWERS-any continuing education must include minimum of ______ in law and
ethics
License fees, appointment and renewal fees - ANSWERS-agents must pay these fees every two
years
True - ANSWERS-agents must continue to be appointed with an insurance company to keep
their license
Unfair trade practices - ANSWERS-any deceptive, fraudulent, or otherwise injurious practices or
acts (as to a consumer) are declared unlawful by statute or recognized as actionable at common
law
Unfair claims settlements - ANSWERS-improper avoidance of a claim by the insurer or an
attempt to reduce the size of its claim by engaging in unfair claim practices to reduce costs
Domestic, foreign, or alien - ANSWERS-insurance companies have to get classified in these three
classification according to the location of its corporation
true - ANSWERS-Regardless of where the insurance company is incorporated, it still has to get a
certificate of authority before transacting insurance within a state
Domestic insurance company - ANSWERS-a company that resides and is incorporated under the
laws of the state which its home office is located.
Foreign Insurance Company - ANSWERS-a company whose home office is located in another
state is considered to be foreign in all states but its own.
, Domestic - ANSWERS-company chartered in Florida would be a _________ insurance company
in Florida
Foreign - ANSWERS-company chartered in Texas would be a _________ insurance company in
Florida
Alien insurance company - ANSWERS-company chartered and organized in any country other
than the United States
Alien - ANSWERS-would be considered an _______ insurance company in all 50 states
Free-Look - ANSWERS-Also known as the "Right to Examine"
Free-Look - ANSWERS-Health insurance policies must provide a minimum period of 10 days
upon policy delivery. If the policyowner does not want to keep the policy within 10 days a full
refund will be given
Grace Period - ANSWERS-life insurance policies must provide a __________ of 31 days after the
due date.
31 days - ANSWERS-life insurance policies must provide a grace period of ________ after the
due date
may deduct the premium - ANSWERS-if the insured dies during the grace period, the insurance
company ___________due from the death benefit
YES - ANSWERS-Is Replacement strictly regulated and requires full disclosure by both the agent
and the replacing insurance company.
