Florida Life and Health Insurance License Practice Test

Disable ads (and more) with a membership for a one time $2.99 payment

Prepare for the Florida Life and Health Insurance License Test. Study with flashcards and multiple choice questions, each with hints and explanations. Get ready for your certification exam with ease!

Start Multiple Choice Practice Test
Start Flash Cards

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

What is considered an element of an insurance transaction in Florida?

  1. Issuing an insurance contract

  2. Conducting a market survey

  3. Compiling claim statistics

  4. Assessing global insurance trends

The correct answer is: Issuing an insurance contract

In an insurance transaction, the most essential element is the issuance of an insurance contract. This is the legally binding document that outlines the terms, conditions, and coverage details of the insurance policy. Conducting a market survey, compiling claim statistics, and assessing global insurance trends are all important aspects of the insurance industry, but they are not directly involved in the actual transaction between an insurance company and a policyholder. These activities may contribute to the development of insurance products and services, but they are not considered elements of an insurance transaction. Overall, the issuance of an insurance contract is the crucial element that solidifies the insurance coverage agreement between the insurer and the policyholder.

More Questions Like This