FLA 214 FINAL EXAM QUESTIONS AND ANSWERS
Within how many days must a licensee notify the Department of Financial Services of a
change in address? - Answers- 30
All of the following entries are classified under the four principal areas of Florida
insurance law EXCEPT.. - Answers- An agent's commission
Which of the following factors is NOT considered when the Department of Financial
Services determines if an agent's home is an insurance agency? - Answers- The
amount of premium collected at this location
Florida requires that an insurance agent must complete ___ hours of continuing
education on the subject of law and ethics every two years. - Answers- 5
Agents that have been licensed for less than six years must complete __ hours of
continuing education every two years. - Answers- 24
A licensed agent must be appointed by an insurance company to solicit insurance in
Florida. The agent's license will terminate if a certain period of time elapses without
being appointed. How long is this period of time? - Answers- 48 months
What is the maximum percentage of controlled business an agent may produce? -
Answers- 50%
According to Florida law, an additional lapse notice must be issued after the standard
grace period has expired for policyowners age... - Answers- 64 years and older
Which action could result in a hearing being ordered by the Department of Financial
Services? - Answers- Performing insurance transactions without a license
Which of the following professionals organizations has its codes of ethics incorporated
into Florida law? - Answers- NAIFA (National Association of Insurance and Financial
Advisors)
Which entity approves the insurance policy forms used in Florida? - Answers- Office of
Insurance Regulations (OIR)
In Florida, agents are allowed to engage in rebating if... - Answers- Offered to all
insureds in the same actuarial class
In Florida, when agents recommend changes be made for existing coverage, the agent
must follow established procedures. The name of this rule is called the... - Answers-
Florida Replacement Rule
Within how many days must a licensee notify the Department of Financial Services of a
change in address? - Answers- 30
All of the following entries are classified under the four principal areas of Florida
insurance law EXCEPT.. - Answers- An agent's commission
Which of the following factors is NOT considered when the Department of Financial
Services determines if an agent's home is an insurance agency? - Answers- The
amount of premium collected at this location
Florida requires that an insurance agent must complete ___ hours of continuing
education on the subject of law and ethics every two years. - Answers- 5
Agents that have been licensed for less than six years must complete __ hours of
continuing education every two years. - Answers- 24
A licensed agent must be appointed by an insurance company to solicit insurance in
Florida. The agent's license will terminate if a certain period of time elapses without
being appointed. How long is this period of time? - Answers- 48 months
What is the maximum percentage of controlled business an agent may produce? -
Answers- 50%
According to Florida law, an additional lapse notice must be issued after the standard
grace period has expired for policyowners age... - Answers- 64 years and older
Which action could result in a hearing being ordered by the Department of Financial
Services? - Answers- Performing insurance transactions without a license
Which of the following professionals organizations has its codes of ethics incorporated
into Florida law? - Answers- NAIFA (National Association of Insurance and Financial
Advisors)
Which entity approves the insurance policy forms used in Florida? - Answers- Office of
Insurance Regulations (OIR)
In Florida, agents are allowed to engage in rebating if... - Answers- Offered to all
insureds in the same actuarial class
In Florida, when agents recommend changes be made for existing coverage, the agent
must follow established procedures. The name of this rule is called the... - Answers-
Florida Replacement Rule
