1
FL Health agent Exam . 240 Questions with 100%
correct and verified answers. GUARANTEED A+
GRADE.
An organization that transacts insurance only with its own members is a(n): -
(answers)Fraternal
The ____________ has the power to issue rules and regulations to help enforce
insurance laws. - (answers)Commissioner, Superintendent, or Director
All of the following are essential elements of a legal contract, EXCEPT: -
(answers)Representation
Which of the following manufactures and sells insurance coverage in the form
of insurance policies or contracts of insurance? - (answers)Insurance
companies
The contract type in which only one party is legally bound to its contractual
obligations after a premium is paid is a(n)_______ contract. -
(answers)Unilateral
A(n)____________ is the person or entity that is covered by an insurance
policy. - (answers)Insured
Fraternal insurance companies are owned by: - (answers)Members
Members of the ___________ include state and territorial insurance
commissioners or regulators. - (answers)National Association of Insurance
Commissioners (NAIC)
, 2
The ___________ branch writes and passes state insurance laws, or statutes, to
protect the insuring public. - (answers)Legislative
For the most part, the highest authority for insurance regulation is: -
(answers)The individual states
Insurable interest for life insurance is necessary only at the time of: -
(answers)Application
Insurers that are incorporated in another state, but doing business in this state,
are considered: - (answers)Foreign
Stock insurance companies are owned by: - (answers)Stockholders
When it comes to life insurance, insurable interest on one's own life is: -
(answers)Unlimited
Which of the following best describes a conditional contract? - (answers)Both
parties must perform specified duties in order for the contract to be
enforceable
Which principle states that an insured may be reimbursed up to the amount of
the actual loss? - (answers)Indemnity
What gives an insurer the authority to operate within this state? - (answers)A
Certificate of Authority
, 3
Statements made on the application by the applicant that are believed to be
true to the best of the applicant's knowledge are called: -
(answers)Representations
The difference between a misrepresentation and a material misrepresentation
is: - (answers)Material misrepresentations are issues that affect policy issuance
Under the Fair Credit Reporting Act, which of the following statements is
correct? - (answers)if an individual is denied coverage, they can request a copy
of the report
Dividends issued by mutual insurance companies: - (answers)Are non-taxable
refunds (returns) of unused or surplus premiums
An insurer issues a policy as "other than applied for," requiring an additional
premium of $100. When would an agreement come into being? -
(answers)When the applicant accepts delivery of the policy and pays the
additional premium
An insurer which is formed under the laws of another country is a(n): -
(answers)Alien insurer
The insurance industry is primarily regulated at the _________ level. -
(answers)State
The State's __________ branch enforces the existing statutes that have been
put in place. - (answers)Executive
FL Health agent Exam . 240 Questions with 100%
correct and verified answers. GUARANTEED A+
GRADE.
An organization that transacts insurance only with its own members is a(n): -
(answers)Fraternal
The ____________ has the power to issue rules and regulations to help enforce
insurance laws. - (answers)Commissioner, Superintendent, or Director
All of the following are essential elements of a legal contract, EXCEPT: -
(answers)Representation
Which of the following manufactures and sells insurance coverage in the form
of insurance policies or contracts of insurance? - (answers)Insurance
companies
The contract type in which only one party is legally bound to its contractual
obligations after a premium is paid is a(n)_______ contract. -
(answers)Unilateral
A(n)____________ is the person or entity that is covered by an insurance
policy. - (answers)Insured
Fraternal insurance companies are owned by: - (answers)Members
Members of the ___________ include state and territorial insurance
commissioners or regulators. - (answers)National Association of Insurance
Commissioners (NAIC)
, 2
The ___________ branch writes and passes state insurance laws, or statutes, to
protect the insuring public. - (answers)Legislative
For the most part, the highest authority for insurance regulation is: -
(answers)The individual states
Insurable interest for life insurance is necessary only at the time of: -
(answers)Application
Insurers that are incorporated in another state, but doing business in this state,
are considered: - (answers)Foreign
Stock insurance companies are owned by: - (answers)Stockholders
When it comes to life insurance, insurable interest on one's own life is: -
(answers)Unlimited
Which of the following best describes a conditional contract? - (answers)Both
parties must perform specified duties in order for the contract to be
enforceable
Which principle states that an insured may be reimbursed up to the amount of
the actual loss? - (answers)Indemnity
What gives an insurer the authority to operate within this state? - (answers)A
Certificate of Authority
, 3
Statements made on the application by the applicant that are believed to be
true to the best of the applicant's knowledge are called: -
(answers)Representations
The difference between a misrepresentation and a material misrepresentation
is: - (answers)Material misrepresentations are issues that affect policy issuance
Under the Fair Credit Reporting Act, which of the following statements is
correct? - (answers)if an individual is denied coverage, they can request a copy
of the report
Dividends issued by mutual insurance companies: - (answers)Are non-taxable
refunds (returns) of unused or surplus premiums
An insurer issues a policy as "other than applied for," requiring an additional
premium of $100. When would an agreement come into being? -
(answers)When the applicant accepts delivery of the policy and pays the
additional premium
An insurer which is formed under the laws of another country is a(n): -
(answers)Alien insurer
The insurance industry is primarily regulated at the _________ level. -
(answers)State
The State's __________ branch enforces the existing statutes that have been
put in place. - (answers)Executive
