FL Law and Ethics Update - Section 1 Quiz - Motor Carrier Insurance Education Foundation

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Question 1 of 4

1. Question

Which state entity is primarily responsible for licensing and disciplining insurance agents in Florida?

The Office of Insurance Regulation (OIR)
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The Federal Motor Carrier Safety Administration (FMCSA)
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The Department of Financial Services (DFS)
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The National Association of Insurance Commissioners (NAIC)
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Question 2 of 4

2. Question

An insured tells their agent they’re considering filing a complaint against their carrier over a claim decision. What is the agent’s appropriate response, according to this course?

Provide accurate information about the complaint process and let the insured decide for themselves
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Discourage the complaint to protect the agent's relationship with the carrier's underwriter
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File the complaint personally on the insured's behalf without involving them further
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Tell the insured that complaints against carriers are rarely successful and not worth the effort
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Question 3 of 4

3. Question

Which two Florida entities, beyond DFS and OIR, round out this course’s overview of the state’s insurance and financial regulatory structure?

The Governor's Office and the State Attorney General
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The Chief Financial Officer (CFO) and the Office of Financial Regulation (OFR)
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The National Association of Insurance Commissioners and FMCSA
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The Curriculum and Licensing Background Bureau and the Fraud Division
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Question 4 of 4

4. Question

What is the primary purpose of a state guaranty association for admitted carriers?

To guarantee every claim submitted will be paid in full regardless of policy terms
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To replace the need for an insurance company's own reserves
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To set the maximum premium a carrier may charge for a given class of business
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To provide a backstop for policyholders if an admitted carrier becomes insolvent
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FL Law and Ethics Update – Section 1 Quiz

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