Florida Life Insurance / Certified Exam Questions & Answers / 2025
/ 2026.
Stretch your brain before your first study session Learn / Study with Learn Encourage Uniformity, Assist in admin of laws & regs, Protect interest of policy owners, Preserve state regulation Choose matching term 1Producer2Assignment Provision 3Foreign insurer4 National Association of Ins Commissioners (NAIC) Don't know?Mutual Insurance Companies organized and incorporated under state laws. No stockholders.Mutual companiesParticipating, they pay dividends. 1 / 2
Terms in this set (107) Stock company Risk Retention Group Fraternal Benefit Societies FICA Variable Product Fair Credit Reporting Act Domestic insurer Foreign insurer Buyers Guides Policy Summaries National Association of Ins Commissioners (NAIC) Warranty Owns Stock. Nonparticipating (no dividends) Mutual company formed to insure ppl in the same business, occupation, profession (pharmacists, dentists, engineers) Non profit organization, lodge system that includes ritualistic work, and maintain a rep form of gov with elected officers.Made up of Social Security and Medicare Dual license. One license issued by FINRA & the other Life & Annuity (issued by the state) Consumers have the right to question what is on their credit report company doing business in the state in which it is incorporated company licensed & doing business in states other than the one in which it is incorporated generic (explain various types of life insurance products, including variable annuities) Specific to the Policy - ids the agent, insurer, policy, each rider, and includes info about premiums, dividends, benefit amounts, cash surrender values, policy loan interest rates, and life insurance cost indexes of the specific policy being considered Encourage Uniformity, Assist in admin of laws & regs, Protect interest of policy owners, Preserve state regulation a statement guaranteed to be true
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