FLORIDA STATUES,RULES AND REGULATIONS
COMMON TO ALL LINES (4)EXAM 130
QUESTIONS AND CORRECT ANSWERS LATEST
2023-2024
If an insurer meets the state’s financial requirements and is approved to
transact business in the state, it is considered what type of insurer? –
ANSWER- Authorized or admitted
Who is considered a nonresident agent? – ANSWER- An agent who
resides and is licensed in another state, but who is authorized to transact
insurance in this state
Two individuals who are in the same risk and age class are charged
different rates for their insurance policies due to an insignificant factor.
What is this called? – ANSWER- Discrimination
What type of licensee represents the insured? – ANSWER- Broker
When can the Commissioner or Director examine insurers? – ANSWERWhenever deemed necessary (once every few years)
An agent offers a client free tickets to a sporting event in exchange for
the purchase of an insurance policy. What is the agent guilty of? –
ANSWER- Rebating
If a producer makes maliciously critical statements about another
insurer, what is this illegal practice called? – ANSWER- Defamation
Can insurers advertise the existence of the guaranty association during
solicitation and sale of insurance policies? – ANSWER- No<\/p>\n\n\n\n
What are the most common penalties for violations of insurance
statutes? – ANSWER- Cease and desist order, fine, and license
suspension\/revocation
To whom may a certificate of authority be issued? – ANSWER- To an
insurer authorized to transact business in this state
What is the purpose of insurance guaranty associations? – ANSWERProtect policyowners, insureds, and beneficiaries from financial losses
caused by insolvent insurers
On its advertisement, a company claims that it has funds in its
possession that are, in fact, not available for the payment of losses or
claims. What is the company guilty of? – ANSWER- Misrepresentation
What illegal act does a producer commit when the producer represents a
policy in a more favorable light than the policy really is? – ANSWERMisrepresentation
For what reason can a temporary license be issued? – ANSWER- For
continuation of business in case the licensed producer dies or becomes
disabled
If an insurer holds a Certificate of Authority, it is known as what type of
insurer? – ANSWER- Authorized or admitted
What type of misrepresentation persuades an insured, to his or her
detriment, to cancel, lapse, or switch policies from one to another? –
ANSWER- Twisting
What type of licensee represents the insurance company? – ANSWERAgent
Who is responsible for the contents of insurance advertisements? –
ANSWER- Insurance company
<\/p>\n","protected":false},"excerpt":{"rendered":"
FLORIDA STATUES,RULES AND REGULATIONSCOMMON TO ALL LINES (4)EXAM 130QUESTIONS AND CORRECT ANSWERS LATEST2023-2024If an insurer meets the state’s financial requirements and is approved totransact business in the state, it is considered what type of insurer? –ANSWER- Authorized or admittedWho is considered a nonresident agent? – ANSWER- An agent whoresides and is licensed in another state, […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[25],"tags":[],"class_list":["post-113056","post","type-post","status-publish","format-standard","hentry","category-exams-certification"],"_links":{"self":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts\/113056","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/comments?post=113056"}],"version-history":[{"count":0,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts\/113056\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/media?parent=113056"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/categories?post=113056"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/tags?post=113056"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}