Florida Statutes, Rules, and Regulations Common to All Lines
The Department finds that an agent misappropriated fiduciary funds, a ground listed in section 626.611. What does the statute direct the Department to do?
Answer and explanation
Answer: C. Section 626.611 opens with the direction that the department shall deny an application for, suspend, revoke, or refuse to renew or continue the licence or appointment when a listed ground is found, and misappropriation of funds is among those grounds. The word shall removes the discretion described in the first choice, agent discipline sits with the Department rather than the Office, and the statute requires no prior warning.Source: Fla. Stat. § 626.611 — 626.611, Mandatory grounds
More florida statutes, rules, and regulations common to all lines questions
- An agent receives a written order from the Department and deliberately disregards it. How does section 626.611 treat that?
- An agent receives premium from an applicant and an unrelated consulting fee from the same person on the same day. Which is a trust fund?
- An agent repeatedly misexplains basic policy mechanics to clients, causing them to buy unsuitable coverage. Which ground in section 626.611 fits most closely?
- An agent uses misleading comparisons to persuade a client to surrender an in-force life policy and buy a new one from a different insurer. Which practice is this?
- An agent uses the accumulated values in a client's existing policy to fund a new policy with the same insurer, earning fresh first-year commission, and cannot point to any reasoned benefit to the client. Which practice is this?
- An agent writes a life policy and adds a small ancillary coverage to the application, telling the applicant nothing about it, then collects the combined premium. Which practice does Florida law say this is?
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