Fla. Stat. §626.9541 — what it says, and how the exam tests it

626.9541 Unfair methods of competition and unfair or deceptive acts or practices defined. — (1) UNFAIR METHODS OF COMPETITION AND UNFAIR OR DECEPTIVE ACTS. — The following are defined as unfair methods of competition and unfair or deceptive acts or practices: (a) Misrepresentations and false advertising of insurance policies. — Knowingly making, issuing, circulating, or causing to be made, issued, or circulated, any estimate, illustration, circular, statement, sales presentation, omission, comparison, or property and casualty certificate of insurance altered after being issued, which: 1. Misrepresents the benefits, advantages, conditions, or terms of any insurance policy. 2. Misrepresents the dividends or share of the surplus to be received on any insurance policy. 3. Makes any false or misleading statements as to the dividends or share of surplus previously paid on any insurance policy. 4. Is misleading, or is a misrepresentation, as to the financial condition of any person or as to the legal reserve system upon which any life insurer operates. 5. Uses any name or title of any insurance policy or class of insurance policies misrepresenting the true nature thereof. 6. Is a misrepresentation for the purpose of inducing, or tending to induce, the lapse, forfeiture, exchange, conversion, or surrender of any insurance policy. 7. Is a misrepresentation for the purpose of effecting a pledge or assignment of, or effecting a loan against, any insurance policy. 8. Misrepresents any insurance policy as being shares of stock or misrepresents ownership interest in the company. 9. Uses any advertisement that would mislead or otherwise cause a reasonable person to believe mistakenly that the state or the Federal Government is responsible for the insurance sales activities of any person or stands behind any person’s credit or that any person, the state, or the Federal Government guarantees any returns on insurance products or is a source of payment of any insurance obligation of or sold by any person. 10. Fails to disclose a third party that receives royalties, referral fees, or other remuneration for sponsorship, marketing, or use of third-party branding for a policy of health insurance as defined in s. 624.603.