FLORIDA 2-15 INSURANCE LICENSE
ACTUAL EXAM (2025) QUESTIONS AND
(ELABORATED) WITH COMPLETE
SOLUTIONS
1. Accumulation units are converted into annuity units
Answer at the time of annuity payout.
2. A group life insurance plan in which the employer pays the entire premium is
known as a plan.
Answer noncontributory
3. If a disabled worker covered under Social Security disability benefits recovers
and then is disabled again within five years, a new waiting period is required
before benefits begin again.
Answer FALSE
4. Robert had an accident and qualified for Social Security disability. Given the
waiting period, when will Robert begin to receive benefits?
,Answer After 5 months
5. The Insuring Clause includes all of the following EXCEPT the
Answer beneficiary
6. Mutualization occurs when a stock company turns to a company.-
Answer mutual
7. To provide a safeguard for insureds, most major medical policies contain a
feature that limits the insured's out-of-pocket expenses.
Answer stop-loss
8. Tom is a newly appointed life, health and variable annuity agent with Acme
Insurance Agency. He is writing his first insurance policy on his brother-in-law's
life. Who does Tom legally represent in this transaction?
Answer Acme Insurance Agency
9. An insurance clause is a distinct article in a formal document that establishes
,the rules in the contract that must adhere to.Answer both the
insurer and the insured
10. "ACC" refers to the type of disability that prevents someone from performing
the job he was performing prior to the disability.
Answer FALSE
11. Which statement is CORRECT about the Department of Financial Services'
right to examine an agent's records?
Answer An examination can be conducted at any time to discover any unfair trade practices.
12. Bill gives Jim a couple of tickets to a Florida Gators game to thank him for
purchasing a policy. This is an example of
Answer rebating
13. term insurance provides a level amount of protection for a spec-
ified period, after which the policy expires.
Answer Level
, 14. Business overhead expense (B.O.E.) insurance does not provide benefits to
cover the business owner's salary.
Answer TRUE
ACTUAL EXAM (2025) QUESTIONS AND
(ELABORATED) WITH COMPLETE
SOLUTIONS
1. Accumulation units are converted into annuity units
Answer at the time of annuity payout.
2. A group life insurance plan in which the employer pays the entire premium is
known as a plan.
Answer noncontributory
3. If a disabled worker covered under Social Security disability benefits recovers
and then is disabled again within five years, a new waiting period is required
before benefits begin again.
Answer FALSE
4. Robert had an accident and qualified for Social Security disability. Given the
waiting period, when will Robert begin to receive benefits?
,Answer After 5 months
5. The Insuring Clause includes all of the following EXCEPT the
Answer beneficiary
6. Mutualization occurs when a stock company turns to a company.-
Answer mutual
7. To provide a safeguard for insureds, most major medical policies contain a
feature that limits the insured's out-of-pocket expenses.
Answer stop-loss
8. Tom is a newly appointed life, health and variable annuity agent with Acme
Insurance Agency. He is writing his first insurance policy on his brother-in-law's
life. Who does Tom legally represent in this transaction?
Answer Acme Insurance Agency
9. An insurance clause is a distinct article in a formal document that establishes
,the rules in the contract that must adhere to.Answer both the
insurer and the insured
10. "ACC" refers to the type of disability that prevents someone from performing
the job he was performing prior to the disability.
Answer FALSE
11. Which statement is CORRECT about the Department of Financial Services'
right to examine an agent's records?
Answer An examination can be conducted at any time to discover any unfair trade practices.
12. Bill gives Jim a couple of tickets to a Florida Gators game to thank him for
purchasing a policy. This is an example of
Answer rebating
13. term insurance provides a level amount of protection for a spec-
ified period, after which the policy expires.
Answer Level
, 14. Business overhead expense (B.O.E.) insurance does not provide benefits to
cover the business owner's salary.
Answer TRUE
