[FL 2-15 Life & Health] 4, Premium Handling, Trust Funds and Producer Records

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: * How Florida Statute Section 626.561 classifies premiums and returned premiums as trust funds held in a fiduciary capacity. * Why temporary borrowing or diversion of client or insurer funds is illegal misappropriation under Florida law. * How criminal penalties distinguish between misappropriating $300 or less versus larger amounts. * The statutory requirement for maintaining separate trust accounts when holding funds for non-appointed insurers. * The difference between the 3-year record retention rule for premium payments and 5-year retention rules for other policy records. This independent study resource is designed to supplement your Florida 2-15 exam preparation. For additional practice questions and study tools, visit https://open-exam-prep.com/practice/fl-life-health and watch video guides at https://www.youtube.com/@Open-exam-prep . Sources checked: October 26, 2026 https://www.flsenate.gov/Laws/Statutes/2026/626.561 https://www.flsenate.gov/Laws/Statutes/2026/626.748 https://www.flsenate.gov/Laws/Statutes/2026/627.4554