Florida Insurance Licensing Practice Exam

Which of the following activities may result in the suspension or revocation of a license?

1. Transacting insurance outside the scope of the license

2. Misrepresentation or fraud

3. Participating in 'Unfair methods of competition' or 'Unfair Practices'

4. All of the above

The correct answer is: All of the above

Transacting insurance outside the scope of the license, misrepresentation or fraud, and participating in 'Unfair methods of competition' or 'Unfair Practices' are all violations that can result in the suspension or revocation of a license. Additionally, these actions can also result in legal consequences, such as fines or imprisonment. It is important for insurance professionals to always act in accordance with the law and within the scope of their license to avoid losing their ability to conduct business in the industry.