
LH Chapter 26 FL Manual
Quiz by Brian Morton
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10 questions
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- Q1The individual who sits on the Financial Services Commission and supervises the insurance function in Florida is called theChief Insurance CommissionerDirector of Financial RegulationChief financial OfficerAttorney General60s
- Q2Keeping premium money separate from personal accounts is aReplacement regulationReinsurance regulationFiduciary responsibility of the agentDuty of the insurer60s
- Q3The definition of transacting insurance includes all of the following EXCEPTNegotiating a contract of insuranceUnderwriting a contract of insuranceEffectuating a contract of insuranceSoliciting a contract of insurance60s
- Q4Of the following terms, which best describes the act of replacing existing life insurance with a new life insurance policy based upon incomplete or incorrect representations?ConcealmentRebatingEmbezzlementTwisting60s
- Q5All of the following activities could result in the suspension of an agent’s license EXCEPTAttaining a license for the sole purpose of handling controlled businessDemonstrating incompetency to transact business as an insurance agentSelling any replacement policy that causes an insured to lapse an existing policyMisrepresenting the financial condition of an insurer60s
- Q6Violation of the controlled business statute occurs if an agent sells most of her business toMembers of the local medical societyMembers of her civic clubCity and county employeesEmployees of a business owned by her father60s
- Q7Sliding consists of all of the following activities EXCEPTAdvising a client that certain ancillary coverage is included at no additional charge when such a charge is requiredRecommending that a client take cash value from a policy to make other investmentsCharging an applicant for ancillary coverage over the cost of the coverage applied for without the applicant’s consentTelling an applicant that certain ancillary coverage is required by law when it is not60s
- Q8Which of the following activities is NOT a violation of the Insurance Code?Collecting premiums and depositing them in the agent’s personal accountOffering a premium rebate if the insured contracts for other insurance businessWriting as much noncontrolled insurance business as controlled businessCharging a fee that is more than the premium stated in the policy60s
- Q9How soon after an administrative action is taken against a licensee by any governmental or regulatory agency regarding fraud, dishonesty, or untrustworthiness, must the licensee submit copies of the report to the Department?Within 30 daysWithin 60 daysWithin 90 daysWithin 45 days60s
- Q10If an agent changes her residence address, she must notify the Department of Financial Services withinA change of residents address does not require notification60 days30 days15 days60s