Upgrade to remove ads
Only $35.99/year

iFlash | Florida Insurance Agent Licensing

Terms in this set (26)

WHY is the Florida Chief Financial Officer so important to the insurance industry?
The Chief Financial Officer (CFO) is head of the Department of Financial Services (DFS).

The CFO oversees every aspect of the business of insurance & banking in Florida.
What is the significance of the Florida CFO website?
www. My Florida CFO .com gives Floridians access to an extensive insurance resource catalog.

The featured resources sync with pre-licensing basics.
True | False
Websites aren't good listeners.
TRUE.

On Flip Side...
Insurance agents basically serve the same function as the frequently asked questions page of My Florida CFO .com.
What is the PURPOSE of Insurance Licensing?
i[E2] 1:55
[NAIFA (26.6) p.412]
[Define] Insurance Agent
NAIFA [(26.6.2) p.412]
True | False
Insurance Agents must apply for a Brokers License to open an Agency.
FALSE.
i[E2] 5:00, NAIFA [(26.6.5.7) p. 421]
True | False
Insurance Licensing is a consumer protection intended to help maintain minimum professional standards.
TRUE
Consumers have a right to knowledgeable & trustworthy Insurance Agents.
What is the passing grade for the Pre-Licensing Final & State Exam?
70% is the Minimum passing grade.
i[2:57]
What is the PURPOSE of a Background Check?
i[E2]3:12, NAIFA [(26.6.4.2) p. 416]
[Define] Fiduciary
i[E2] 3:45, NAIFA [(26..7) p. 26.7.1]
What type of insurance Agent are you applying to be?
Independent Insurance Agent

i[E2] 4:50
True | False
Once licensed, you can open an AGENCY & recruit agents w/o additional testing.
TRUE.
Once you're licensed & appointed, you can begin building a team (or) Agency.
What is an Un-Affiliated Insurance Agent?
An Unaffiliated Agent is a licensed *Self Appointed independent consultant.

Unaffiliated Agent are prohibited from representing insurers.

i[E2] 5:24
NAIFA [(26.6.2) p. 412]
True | False
An *Un-Affiliated Agent is allowed to accept a commission from an insurer.
FALSE
Unaffiliated agents are PROHIBITED from being appointed with an insurer therefore, they may not receive commissions from an insurer.

i[E2] , NAIFA [(26.6.2) p. 412]
Why is an Un-Affiliated Agent allowed to accept payment from their corporate clients?
Unaffiliated Agents are *INDEPENDENT CONSULTANTS whose compensation comes from their clients.

Since unaffiliated agents are not appointed with insurers, they are A PROHIBITED from receiving commissions.

i[E2] 5:40, NAIFA [(26.6.2) p. 412]
True | False
Unaffiliated Agents have the same license type as an Independent Insurance Agent.
TRUE
The insurer appointment is the only difference between a regular independent Agent & a unaffiliated agent.

NAIFA [(26.6.2) p. 412]
True | False
...
How many hours is the Health insurance only Pre-Licensing class?
40 Hours
Single categories of Insurance like Health (or) Life require 40 hours of Pre-Licensing.

i[E2] 7:58, NAIFA (26.6.4.1) p. 414]
How many hours of Pre-Licensing does the 2-14 Life Insurance
40 Hours
Single categories of Insurance like the 2-14 Life Insurance & Annuities require 40 hours of Pre-Licensing.

i[E2] 7:58, NAIFA [(26.6.4.1) p. 414]
True | False
The 2-14 Life & Annuity course is 40 hours of Pre-Licensing.
TRUE
How many hours of Pre-Licensing can a student miss & still be qualified to take the final exam?
NONE!
Pre-Licensing must be completed.
i[E2] 8:45,
What is a correspondence course?
Self Study
With The Insurance School .com, even our Self-Study options has live instructor support.

Independent, Never Alone
What is the purpose of an Insurer Appointment?
The *Insurers Appointment grants Authorized Insurance Agents the permission to sell their policies.

Agents CAN NOT sell an insurance policy UNLESS, they have been *Appointed by the Insurer.

i[E2] 11:20, NAIFA [(26.6.3) p. 413]
True | False
Once licensed, insurers are required to appoint you.
FALSE

i[E2] 11:55
True | False
The insurer appointment process is similar to an interview.
TRUE
i[E2] 12:25
True | False
You are NOT an insurance agent until you have valid insurer appointments.
i[E2] 12:45
Other sets by this creator