Florida Insurance Unit Ten - Miscellaneous Florida Statutes Exam Questions and Answers with Complete Solutions

Unauthorized entities present a regulatory concern because they have the potential for __________ claims. - Unauthorized entities present a regulatory concern because they have the potential for unpaid claims. True or False? Willfully over insuring a health or property policy can be grounds for terminating an insurance license. - True. Willfully over insuring a health or property policy can be grounds for terminating an insurance license. The following are required to be on an application of insurance: insurer name, agent name, and agent _____________ number. - The following are required to be on an application of insurance: insurer name, agent name, and agent license number. True or False? Florida law requires General Lines Agents to be licensed but not agencies. - False. Florida law requires General Lines Agents and agencies to be licensed. True or False? A customer representative may only perform customer representative duties as to the specific general lines insurance products which their supervising, General Lines Agent, is actually then appointed by an insurer to handle. - True. A customer representative may only perform customer representative duties as to the specific general lines insurance products which their supervising, General Lines Agent, is actually then appointed by an insurer to handle. True or False? According to Florida Statute 624.09 an "authorized" insurer is one with an authorized certificate of authority issued by the department to transact insurance in this state. - True. According to Florida Statute 624.09 an "authorized" insurer is one with an authorized certificate of authority issued by the department to transact insurance in this state. A reciprocal exchange is legally controlled by. - A reciprocal exchange is legally controlled by an Attorney-in Fact. A _______ insurer is one formed under the laws of the state the agent resides in. - A DOMESTIC insurer is one formed under the laws of the state the agent resides in. True or False? Florida statute encourage rebating and no conditions apply. - False. Florida statutes prohibit rebating without conditions. True or False? Florida statute prohibits rebating except as otherwise expressly provided by law, or in an applicable filing with the office of insurance. - True. Florida statute prohibits rebating except as otherwise expressly provided by law, or in an applicable filing with the office of insurance. Defamation includes libel and slander; dissemination information which is false; and dissemination of information which is calculated to _________ a third party. - Defamation includes libel and slander; dissemination information which is false; and dissemination of information which is calculated to injure a third party. Florida statutes preclude ________ competition; ______ or deceptive acts; and _______ practices. - Florida statutes preclude unfair competition; unfair or deceptive acts; and unfair practices. Which of the following is NOT a "type" of a General Lines License? (a) Personal Lines Agent.