Please answer the following multiple choice/true & false questions on Module Nine definitions, concepts, and topics. You must earn a passing grade of 70% or better in the quiz to move on to the next section. The quiz can be re-taken until you earn that passing grade.
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A __________ is a representation of a material facts or condition of which the issuance of the policy of insurance is conditioned.
An Insurance Agent’s License enables the license holder to engage in the business of insurance in good faith and with fair dealing with the insuring public. Specifically prohibited are:
True or False? Florida statutes explicitly prohibits payment to any unlicensed person any fee or compensation for a referral and no referral fee or commission can be paid to a licensed entity if the offer of referral is conditioned upon a sale.
All BUT which of the following are insurance agent licensing requirements?
The Department of Financial Services requires a license holder to place the department on notice of changes for all BUT which of the following?
The Department of Financial Services requires financial accounting records to be kept by an agent/agency for ____ year(s).
An insurance license can be revoked for all but which of the following?
F.S. 626.112(8) addresses referral fees that are conditioned upon an actual sale; specifically, no referral fee or commission can be paid to a licensed entity if the offer of referral is…
Fiduciaries are individuals or organizations the are required to operate under the duties of good faith and ____________.
Agents ______ share commissions with other agents and customer representatives appointed and licensed to write the same kind of insurance.
Customer representatives ____ share in commissions with a licensed insurance agent.
Licensees ______ share commission with a corporation if it is a licensed insurance agency.
A licensee ______ collect any premium in excess or below what the required rate known by the licensee at the time of the premium collection.
True or False? Ethics is the study of normal behavior and is the cornerstone of professionalism in the insurance industry.
In conclusion, an insurance agent can demonstrate ethical behavior by… (select all that apply):
Florida Insurance Guaranty Association a.k.a. FIGA was created by the Florida congress in 1970; All of the following concerning FIGA are correct EXCEPT?
__________ is knowingly making, publishing, disseminating, or circulating, directly or indirectly, or aiding, abetting, or encouraging the making, publishing, disseminating, or circulating of, any oral or written statement, or any pamphlet, circular, article, or literature, which is false or maliciously critical of, or derogatory to, any person and which is calculated to injure such person.
As regards ‘twisting’ and ‘churning’ which, if any, of the following statements are correct?
Commonly referred to as ‘rebating’, agents ______ permitted to pay, allow, give, or offer to pay to an insured directly or indirectly any inducement to purchase any policy of insurance.
Insurance underwriting may not discriminate based upon which, if any, of the following? (choose all that apply)