214 FLORIDA INSURANCE EXAM LATEST
CERTIFICATION REVIEW SET 2026
ANSWERS GUARANTEED PASS
⫸ Which of the following terms is known as the voluntary
relinquishment of a given right or privilege? Answer: Waiver
⫸ This Supreme Court case placed the regulation of insurance within
the authority of the federal government by defining insurance as a form
of interstate commerce? Answer: United States v. Southeastern
Underwriters Association (1944)
⫸ Tim was just hired today by MAB INC and wants to join the
company's group insurance policy. What period of time is he currently in
and when can he join the plan? Answer: Probationary period, he can sign
up after 90 days
⫸ If Justin submitted an initial premium with his life insurance
application, was provided a conditional receipt by the insurance
company and was ultimately issued a policy as applied for, when would
his insurance policy be considered in force? Answer: The date of his
application or the day he completed any required medical exam
⫸ When dividends are issued, the policyowner has the following
dividend options in utilizing a return EXCEPT: Answer: Life Income
Option
,⫸ Which two life insurance riders can Bill purchase to guarantee that
his policy will continue without further commitment from him and that
income will be paid to him if he becomes totally and permanently
disabled? Answer: Waiver of premium and Disability Income Riders
⫸ In a contributory group plan, what percentage of eligible employees
must be covered? Answer: 75%
⫸ Which statement regarding annuities is CORRECT? Answer:
Variable annuity units are fixed but the annuity payment will vary
according to the value of the annuity unit.
⫸ In order to be considered currently insured and thus eligible for
limited survivor benefits from Social Security, a worker must have
earned ___ credits during the 13-quarter period ending with the quarter
in which the worker died. Answer: 6
⫸ Social security is also known as: Answer: Old Age Survivors and
Disability Insurance (OASDI)
⫸ Insurance is not intended to protect against? Answer: Speculative
Risk
⫸ Under a family plan life insurance policy, coverage on the
breadwinner is often provided by which of the following insurance
types? Answer: Whole Life
, ⫸ Which of the following statements regarding annuity settlement or
payout options is NOT true? Answer: If the annuitant dies before the
principal sum is depleted, the Refund Life Annuity Option will pay the
entire annuity amount to the beneficiary in a lump sum payment or over
scheduled installments.
⫸ The following statements regarding 401(k) retirement plans are
correct EXCEPT: Answer: Plans rarely have a matching contribution
component by an employer
⫸ All of the statements below pertaining to group life insurance are
correct EXCEPT: Answer: If the insurance coverage is less than
$75,000, employees do not have to report the employer-paid premiums
as income
⫸ According to Florida Statues, entering into any agreement to commit
any act of intimidation resulting in the business of insurance is known
as: Answer: Coercion
⫸ William, age 67, has owned his life insurance policy for the past 15
years and has mailed his monthly premiums to his life insurance
company. Last month he failed to mail the monthly payment on his
premium due date as well as during his policy's grace period. As a result,
which of the following scenarios will MOST likely occur? Answer: The
insurer will provide notification of impending lapse in coverage, and
allow at least 21 additional days beyond the grace period to make a
payment to prevent the policy from lapse
CERTIFICATION REVIEW SET 2026
ANSWERS GUARANTEED PASS
⫸ Which of the following terms is known as the voluntary
relinquishment of a given right or privilege? Answer: Waiver
⫸ This Supreme Court case placed the regulation of insurance within
the authority of the federal government by defining insurance as a form
of interstate commerce? Answer: United States v. Southeastern
Underwriters Association (1944)
⫸ Tim was just hired today by MAB INC and wants to join the
company's group insurance policy. What period of time is he currently in
and when can he join the plan? Answer: Probationary period, he can sign
up after 90 days
⫸ If Justin submitted an initial premium with his life insurance
application, was provided a conditional receipt by the insurance
company and was ultimately issued a policy as applied for, when would
his insurance policy be considered in force? Answer: The date of his
application or the day he completed any required medical exam
⫸ When dividends are issued, the policyowner has the following
dividend options in utilizing a return EXCEPT: Answer: Life Income
Option
,⫸ Which two life insurance riders can Bill purchase to guarantee that
his policy will continue without further commitment from him and that
income will be paid to him if he becomes totally and permanently
disabled? Answer: Waiver of premium and Disability Income Riders
⫸ In a contributory group plan, what percentage of eligible employees
must be covered? Answer: 75%
⫸ Which statement regarding annuities is CORRECT? Answer:
Variable annuity units are fixed but the annuity payment will vary
according to the value of the annuity unit.
⫸ In order to be considered currently insured and thus eligible for
limited survivor benefits from Social Security, a worker must have
earned ___ credits during the 13-quarter period ending with the quarter
in which the worker died. Answer: 6
⫸ Social security is also known as: Answer: Old Age Survivors and
Disability Insurance (OASDI)
⫸ Insurance is not intended to protect against? Answer: Speculative
Risk
⫸ Under a family plan life insurance policy, coverage on the
breadwinner is often provided by which of the following insurance
types? Answer: Whole Life
, ⫸ Which of the following statements regarding annuity settlement or
payout options is NOT true? Answer: If the annuitant dies before the
principal sum is depleted, the Refund Life Annuity Option will pay the
entire annuity amount to the beneficiary in a lump sum payment or over
scheduled installments.
⫸ The following statements regarding 401(k) retirement plans are
correct EXCEPT: Answer: Plans rarely have a matching contribution
component by an employer
⫸ All of the statements below pertaining to group life insurance are
correct EXCEPT: Answer: If the insurance coverage is less than
$75,000, employees do not have to report the employer-paid premiums
as income
⫸ According to Florida Statues, entering into any agreement to commit
any act of intimidation resulting in the business of insurance is known
as: Answer: Coercion
⫸ William, age 67, has owned his life insurance policy for the past 15
years and has mailed his monthly premiums to his life insurance
company. Last month he failed to mail the monthly payment on his
premium due date as well as during his policy's grace period. As a result,
which of the following scenarios will MOST likely occur? Answer: The
insurer will provide notification of impending lapse in coverage, and
allow at least 21 additional days beyond the grace period to make a
payment to prevent the policy from lapse
