Florida Life Insurance Final Exam Training 100% Correct

Which of the following types of an individual policies does NOT require a policy summary to be given? - Credit Life Which of the following is considered a producer's fiduciary responsibility? - Collect premiums and remit to the insurance company as soon as reasonably possible If an application for a producer's license has been denied, you may request a hearing within how many days after the receipt of the denial? - 30 days Which of the following activities may NOT be granted as credit for continuing education units? - Meeting sales quotas As a salaried employee of an insurance company, which of the following duties would require her to be a licensed as an insurance producer? - Soliciting insurance policies A group life insurance policy insured may assign to to how much of the insured's coverage? - 100% A producer has influenced an existing policyowner to convert an existing - Replacement Which unfair trade practice involves making false statements about the financial condition of another insurance company - Defamation Continuing education providers must report to the Director a licensee's earned credit hours within - 30 days of course completion An example of life insurance policy replacement would be? - Cash surrender an existing whole life policy and purchasing a new whole life policy Which of the following is a requirement for obtaining a resident producer license in MO? - Pay a 100$ license fee A foreign insurance company CANNOT conduct business in MO without - A certificate of authority to transact business in MO A hearing must be help before a producer license can be suspended or revoked. Prior to this, the director is required to give - written notice to the producer A licensee must complete how many hours of continuing education every two years? - 16 hours Which unfair trade practice involves a producer telling a prospective client that a policy's dividends are guaranteed? - Misrepresentation The grace period for group life policies is how may days? - 31 days In MO, which of the following is considered an unfair trade practice? - coercion Prior to a universal life insurance policy being terminated, written notice must be given to the policyowner how soon before the termination? - 30 day until termination date