Florida Statutes, Rules, and Regulations Common to All Lines
A Florida form is filed and the office neither approves nor disapproves it during the review period. What is the form's status?
Answer and explanation
Answer: A. Section 627.410(2) provides that at the expiration of the 30 days the form filed will be deemed approved unless prior to that it has been affirmatively approved or disapproved. Silence therefore operates as approval rather than as refusal, suspension, or a limited approval.Source: Fla. Stat. § 627.410 — 627.410(2), Deemed approval
More florida statutes, rules, and regulations common to all lines questions
- An agent charges the correct premium but hands the applicant a personal cheque afterward. Which provision fits?
- An agent collects premium, spends it on agency payroll, and never remits it to the insurer. The amount is $25,000. What does Florida law provide?
- An agent holds return premium owed to a former policyholder and treats it as agency working capital while deciding what to do. Why does this breach the statute?
- An agent is licensed and appointed for life insurance only, and a client asks about a health product the agent is not appointed to write. What does Florida law permit?
- An agent knowingly collects from an applicant an amount larger than the premium the filed rates produce for that coverage, and keeps the difference. Which provision does this violate?
- An agent proposes to satisfy the mandatory update course with a seminar covering only annuity product features. Why does this fail the requirement?
589 Florida questions like this one.
Every answer explained, the ones you miss come back on a spaced schedule, and a plan built from your exam date.