State RegulationsFL specificDifficulty 3/5
A Florida agent delivers the Buyer's Guide but forgets the Policy Summary, and the insurer then accepts the initial premium. Under Fla. Stat. 626.99(4)(a), what is the consequence?
Select an option to reveal the answer and the full 3-part explanation — free, no signup.
Answer & full 3-part explanation (select an option above, or peek)
Why C is correct
Under Fla. Stat. 626.99(4)(a), the Buyer's Guide and the Policy Summary must both be delivered before the initial premium is accepted, unless the policy provides an unconditional refund of premium for at least 14 days. Delivering only one document does not satisfy the statute, so the 14-day unconditional refund becomes the condition under which the premium may be kept. The sale is not automatically void, but the refund protection fills the disclosure gap.
Why the other options are wrong
- A) One document is not enough - the statute requires both the Buyer's Guide and the Policy Summary.
- B) The statute's remedy is the unconditional refund condition, not automatic voiding of the sale or license suspension.
- D) Restarting the application is not required; the disclosure defect is cured by the 14-day refund protection.
Memory hook
Missing summary? Then 14 days of money-back protection applies.