Chapter 1

<body topmargin=0 leftmargin=0 marginheight=0 marginwidth=0> <table cellpadding=0 cellspacing=0 border=0><tr> <td valign="top" colspan=2 height=90 BGCOLOR="#006699" TEXT="#080000" bgproperties="fixed" background="122285a1erlcgo.gif"> <div> <FONT SIZE="5" COLOR="#FFCC66" FACE="Arial" ><B>Florida Agent Ethics</B></FONT><B>     |     </B><A HREF="index.htm" TARGET="_top" TITLE="Florida Agent Ethics"><U><B>home</B></U></A><B>            </B><A HREF="id15.htm" TARGET="_top" TITLE="TABLE OF CONTENTS"><U>TABLE OF CONTENTS</U></A>   |   <A HREF="id55.htm" TARGET="_top" TITLE="FINAL EXAMINATION"><U>FINAL EXAMINATION</U></A></div> <div> <B>Chapter 1</B>   |   <A HREF="id66.htm" TARGET="_top" TITLE="Chapter 2 "><U>Chapter 2  </U></A>   |   <A HREF="id2.htm" TARGET="_top" TITLE="Chapter 3 "><U>Chapter 3  </U></A>   |   <A HREF="id5.htm" TARGET="_top" TITLE="Chapter 4 "><U>Chapter 4 </U></A>   |   <A HREF="id6.htm" TARGET="_top" TITLE="Chapter 5 "><U>Chapter 5 </U></A>   |   <A HREF="id4.htm" TARGET="_top" TITLE="Chapter 6 "><U>Chapter 6 </U></A>   |   <A HREF="id51.htm" TARGET="_top" TITLE="Code of Ethics"><U>Code of Ethics</U></A></div> <div> </div> </td> </tr><tr> <td valign="top" width=210 BGCOLOR="#FFCC66" TEXT="#080000" background="121d2c00dkelyh.gif"> <div> <A HREF="mailto:instructor@wallstreetinstructors.com" TARGET="_top" TITLE="mailto:instructor@wallstreetinstructors."><U><IMG SRC="12caf630.gif" border=0 width="175" height="99" ALIGN="BOTTOM" HSPACE="0" VSPACE="0"></U></A></div> <div> <I><B>You can contact an instructor by clicking the Wall Street Instructors logo on any page.</B></I><FONT SIZE="3" COLOR="#003399" FACE="Arial" > </FONT></div> <bR> <div> Copyright ©2007 Wall Street Instructors, Inc. All rights reserved. No portion of this publication may be reproduced, stored in a retrieval system, or transmitted in any form by any means electronic, mechanical, photocopying, recording or otherwise without prior written permission of Wall Street Instructors, Inc.</div> <bR> </td> <td valign="top" height=390 BGCOLOR="#FFFFFF" TEXT="#080000"> <div> <I>Chapter 1</I></div> <div> <B>Insurance Regulation and Compliance</B><FONT SIZE="2" COLOR="#000000" FACE="Arial" > </FONT></div> <bR> <bR> <div> The important points addressed in this lesson are:</div> <bR> <div> <IMG BORDER="0" SRC="Symb075c00b700f000000000.gif" HEIGHT="16" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">Insurance regulation is a responsibility shared by federal and state governments</div> <div> <IMG BORDER="0" SRC="Symb075c00b700f000000000.gif" HEIGHT="16" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">The concept of agency -- binding a principal by the actions of its agent -- grew out of English common law.</div> <div> <IMG BORDER="0" SRC="Symb075c00b700f000000000.gif" HEIGHT="16" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">An agent's authority may be express, implied or apparent.</div> <div> <IMG BORDER="0" SRC="Symb075c00b700f000000000.gif" HEIGHT="16" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">Agents owe a fiduciary responsibility to their insurers and clients</div> <div> <IMG BORDER="0" SRC="Symb075c00b700f000000000.gif" HEIGHT="16" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">Several legal concepts, including waiver and estoppel, affect liability between buyers and sellers and their agents.</div> <div> <IMG BORDER="0" SRC="Symb075c00b700f000000000.gif" HEIGHT="16" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">Courts decisions are currently placing greater responsibility on sellers<I>.</I></div> <bR> <bR> <div> <A HREF="id8.htm" TARGET="_top" TITLE="State Governments Role"><U>State Government's Role</U></A></div> <div> <A HREF="id10.htm" TARGET="_top" TITLE="Federal Governments Role"><U>Federal Government's Role</U></A></div> <div> <A HREF="id9.htm" TARGET="_top" TITLE="Common Law"><U>Common Law</U></A></div> <div> <A HREF="id21.htm" TARGET="_top" TITLE="Judicial Review"><U>Judicial Review</U></A></div> <div> <A HREF="id23.htm" TARGET="_top" TITLE="Chapter 1 Review Questions"><U>Chapter 1 Review Questions</U></A></div> <bR> <bR> <div> <TABLE BORDER="2" CELLPADDING="1" CELLSPACING="1" WIDTH="97" BORDERCOLORLIGHT="#C0C0C0" BORDERCOLORDARK="#808080" FRAME="BOX" RULES="ALL" ALIGN="BOTTOM" HSPACE="0" VSPACE="0" BGCOLOR=#FFCC66 > <tR> <tD VALIGN=CENTER HEIGHT= 38 WIDTH="87"><div> <A HREF="id8.htm" TARGET="_top" TITLE="State Governments Role"><U><B><U>NEXT</U></B></U></A></div> </tD> </tR> </TABLE></div> <bR> <bR> <bR> </td> </tr></table></body>