1|Page
FLORIDA 240 LICENSE EXAM LATEST 2026-2027 ACTUAL EXAM
WITH COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS
(100% VERIFIED ANSWERS) |ALREADY GRADED A+| ||PROFESSOR
VERIFIED|| ||BRANDNEW!!!||
G is an accountant who has ten employees and is concerned
about how the business would survive financially if G became
disabled. The type of policy which BEST addresses this concern
is - ANSWER-Business Overhead Expense
Which of the following claims are typically excluded from Medical
expense policies? - ANSWER-Intentionally self-inflicted injuries
XYZ Company pays the entire premium for its group health plan.
The MINIMUM percentage of eligible employees that must be
covered is - ANSWER-100%
A Business Overhead Expense policy: - ANSWER-covers
business expenses such as rent and utilities
,2|Page
A Business Overhead Expense policy would cover which of the
following if a business owner becomes disabled? - ANSWER-
Utilities and office rent
What is issued to each employee of an employer health plan? -
ANSWER-certificate
The benefits under a Disability Buy-Out policy are - ANSWER-
payable to the company or another shareholder
A policy owner would like to change the beneficiary on a Life
insurance policy and make the change permanent. Which type of
designation would fulfill this need? - ANSWER-irrevocable
Which contract permits the remaining partners to buy-out the
interest of a disabled business partner? - ANSWER-Disability
Buy-Sell
T and S are named co-primary beneficiaries on a $500,000
Accidental Death and Dismemberment policy insuring their father.
,3|Page
Their mother was named contingent beneficiary. Five years later,
S dies of natural causes and the father is killed in a scuba
accident shortly afterwards. How much of the death benefit will
the mother receive? - ANSWER-$0
Which of the following medical expenses does Cancer insurance
NOT cover? - ANSWER-arthritis
The difference between group insurance and blanket health
policies is: - ANSWER-Blanket health policies do not issue
certificates
Which type of policy would pay an employee's salary if the
employer was injured in a bicycle accident and out of work for six
weeks? - ANSWER-Business Overhead Expense
On an Accidental Death and Dismemberment (AD&D) insurance
policy, who is qualified to change the beneficiary designation? -
ANSWER-Policyowner
, 4|Page
The Consolidated Omnibus Budget Reconciliation Act (COBRA)
gives workers (and their families) whose employment has been
terminated the right to: - ANSWER-continue group health benefits
K is the insured and P is the sole beneficiary on an Accidental
Death and Dismemberment (AD&D) insurance policy. Both are
involved in a fatal accident where K dies before P. Under the
Common Disaster provision, which of these statements is true? -
ANSWER-Proceeds will be paid to P's estate
How would a contingent beneficiary receive the policy proceeds in
an Accidental Death and Dismemberment (AD&D) policy? -
ANSWER-If the primary beneficiary dies before the insured
Which mode of payment is NOT used by health insurance
policies? - ANSWER-Single Premium
G is an accountant who has ten employees and is concerned
about how the business would survive financially if G became
disabled. The type of policy which BEST addresses this concern
is - ANSWER-Business Overhead Expense
FLORIDA 240 LICENSE EXAM LATEST 2026-2027 ACTUAL EXAM
WITH COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS
(100% VERIFIED ANSWERS) |ALREADY GRADED A+| ||PROFESSOR
VERIFIED|| ||BRANDNEW!!!||
G is an accountant who has ten employees and is concerned
about how the business would survive financially if G became
disabled. The type of policy which BEST addresses this concern
is - ANSWER-Business Overhead Expense
Which of the following claims are typically excluded from Medical
expense policies? - ANSWER-Intentionally self-inflicted injuries
XYZ Company pays the entire premium for its group health plan.
The MINIMUM percentage of eligible employees that must be
covered is - ANSWER-100%
A Business Overhead Expense policy: - ANSWER-covers
business expenses such as rent and utilities
,2|Page
A Business Overhead Expense policy would cover which of the
following if a business owner becomes disabled? - ANSWER-
Utilities and office rent
What is issued to each employee of an employer health plan? -
ANSWER-certificate
The benefits under a Disability Buy-Out policy are - ANSWER-
payable to the company or another shareholder
A policy owner would like to change the beneficiary on a Life
insurance policy and make the change permanent. Which type of
designation would fulfill this need? - ANSWER-irrevocable
Which contract permits the remaining partners to buy-out the
interest of a disabled business partner? - ANSWER-Disability
Buy-Sell
T and S are named co-primary beneficiaries on a $500,000
Accidental Death and Dismemberment policy insuring their father.
,3|Page
Their mother was named contingent beneficiary. Five years later,
S dies of natural causes and the father is killed in a scuba
accident shortly afterwards. How much of the death benefit will
the mother receive? - ANSWER-$0
Which of the following medical expenses does Cancer insurance
NOT cover? - ANSWER-arthritis
The difference between group insurance and blanket health
policies is: - ANSWER-Blanket health policies do not issue
certificates
Which type of policy would pay an employee's salary if the
employer was injured in a bicycle accident and out of work for six
weeks? - ANSWER-Business Overhead Expense
On an Accidental Death and Dismemberment (AD&D) insurance
policy, who is qualified to change the beneficiary designation? -
ANSWER-Policyowner
, 4|Page
The Consolidated Omnibus Budget Reconciliation Act (COBRA)
gives workers (and their families) whose employment has been
terminated the right to: - ANSWER-continue group health benefits
K is the insured and P is the sole beneficiary on an Accidental
Death and Dismemberment (AD&D) insurance policy. Both are
involved in a fatal accident where K dies before P. Under the
Common Disaster provision, which of these statements is true? -
ANSWER-Proceeds will be paid to P's estate
How would a contingent beneficiary receive the policy proceeds in
an Accidental Death and Dismemberment (AD&D) policy? -
ANSWER-If the primary beneficiary dies before the insured
Which mode of payment is NOT used by health insurance
policies? - ANSWER-Single Premium
G is an accountant who has ten employees and is concerned
about how the business would survive financially if G became
disabled. The type of policy which BEST addresses this concern
is - ANSWER-Business Overhead Expense
