State RegulationsFL specificDifficulty 3/5
A Florida life agent signs an applicant's name on a life insurance application without the applicant's knowledge. Under Fla. Stat. 626.9541(1)(ee), what penalty exposure does the agent have?
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Answer & full 3-part explanation (select an option above, or peek)
Why D is correct
Under Fla. Stat. 626.9541(1)(ee), forging or fraudulently altering a signature on an insurance document is a third-degree felony punishable by a fine of up to $187,500. The law treats forging an applicant's signature as direct fraud on the document itself, which is far more serious than misrepresentation offenses such as twisting, and the DFS refers such conduct for criminal prosecution.
Why the other options are wrong
- A) The first-degree misdemeanor with up to $12,500 is the punishment for twisting or churning, not forged signatures.
- B) Forging a signature is a criminal felony offense, not merely an administrative violation.
- C) $100,000 is the general willful unfair trade practice fine; the signature-forgery provision carries its own felony and $187,500 fine.
Memory hook
A fake signature is a real felony: $187,500.