numbers

Question 1

A group plan was recently terminated. In Florida, how many days are covered individuals guaranteed coverage after a group plan’s termination?

60 days
45 days
14 days
31 days

Answer 1

The correct answer is “31 days”. If a group plan is terminated, covered persons are guaranteed coverage for 31 days after termination.

Question 2

Within how many days after policy delivery can a Medicare Supplement policy be returned for a 100% premium refund?

20
30
15
25

Answer 2

Medicare Supplement policies may be returned for a premium refund within a MAXIMUM of 30 days.

Question 3

Florida resident insurance agents must complete __ hours of law and ethics continuing education every two years.

3
4
5
6

Answer 3

Florida requires that an insurance agent must complete 4 hours of continuing education on the subject of law and ethics every two years.

Question 4

Every resident agent must have and maintain at their place of business the usual and customary records pertaining to transactions under their license for at least how long?

5 years
3 years
1 year
7 years

Answer 4

Every resident agent must have and maintain at their place of business the usual and customary records pertaining to transactions under their license for at least 5 years following the final settlement or final adjudication of a criminal proceeding, civil litigation, or an administrative proceeding. Any person found to be in violation may be subject to a fine.

Question 5

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?

48 months
24 months
36 months
12 months

Answer 5

An agent’s license will terminate if the agent allows 48 months to elapse without being appointed for the class or classes of insurance listed on the license.

Question 6

An insurer must provide an insured with claim forms within __ days after receiving notice of a loss.

5
15
10
20

Answer 6

Under the Claims Forms provision, an insurer must provide an insured with claim forms within a MAXIMUM of 15 days after receiving notice of a loss.