2027 Florida Health & Life
Insurance Exam Prep Part 1 |
FL State Licensing Practice
Questions & Study Guide
Which Accident and Health policy provision addresses preexisting conditions? -
ANSWER-Time Limit on Certain Defenses
Which of the following individual health insurance policies will provide the
broadest protection? - ANSWER-Major Medical
Which of the following situations does NOT apply to the Florida Replacement
Rule? - ANSWER-An existing policyholder purchases an additional policy from the
same insurer
Agent J takes an application and initial premium from an applicant and sends the
application and premium check to the insurance company. The insurance
company returns the check back to J because the check is made out to J instead of
the insurance company. What action should J take? - ANSWER-Return to the
customer, collect a new check made out to the insurance company, and send the
new check out to the insurance company
,Under which of the following circumstances will the benefits under COBRA
continuation coverage end? - ANSWER-All group health plans are terminated by
the employer
Which type of renewability best describes a Disability Income policy that covers an
individual until the age of 65, but the insurer has the right to change the premium
rate for the overall risk class? - ANSWER-Garunteed Renewable
An incomplete life insurance application submitted to an insurer will result in
which of these actions? - ANSWER-Application will be returned to the writting
agent
The waiting period for a pre-existing condition under a Medicare Supplement
policy may NOT go beyond - ANSWER-6 Months
Which of these statements is INCORRECT regarding the federal income tax
treatment of life insurance? - ANSWER-Entire cash surrender value is taxable
Which of these is considered a mandatory provision? - ANSWER-Payment of
Claims
Which of the following actions will an insurance company most likely NOT take if
an applicant, who has diabetes, applies for a Disability Income policy? - ANSWER-
Issue the policy with an altered Time of Payment of Claims provision
Which of the following phrases refers to the fees charged by a healthcare
professional? - ANSWER-Usual, customary, and reasonable expenses
, D was actively serving in the Marines when he was killed in an automobile
accident while on leave. His $100,000 Whole life policy contains a War Exclusion
clause. How much will D's beneficiary's receive? - ANSWER-The full face amount
N is covered under an individual Disability policy with a 30-day Elimination period
and a monthly benefit of $500. N is totally disabled for 3 1/2 months. N's total
benefit received on this claim is: - ANSWER-$1,250
No benefits are available during the elimination period.
Who does an agent represent during the solicitation or insurance? - ANSWER-The
insurance company
Which of the following costs would a Basic Hospital/Surgical policy likely cover? -
ANSWER-Sugically removing a facial birthmark
The federal income tax treatment of employer-provided group Medical Expense
insurance can be accurately described as: - ANSWER-Employee's premiums paid
by the employer is tax-deductible to the employer as a business expenditure
Premiums paid by an employer for an employee's coverage are deductible by the
employer as a buisness expense
Insurance Exam Prep Part 1 |
FL State Licensing Practice
Questions & Study Guide
Which Accident and Health policy provision addresses preexisting conditions? -
ANSWER-Time Limit on Certain Defenses
Which of the following individual health insurance policies will provide the
broadest protection? - ANSWER-Major Medical
Which of the following situations does NOT apply to the Florida Replacement
Rule? - ANSWER-An existing policyholder purchases an additional policy from the
same insurer
Agent J takes an application and initial premium from an applicant and sends the
application and premium check to the insurance company. The insurance
company returns the check back to J because the check is made out to J instead of
the insurance company. What action should J take? - ANSWER-Return to the
customer, collect a new check made out to the insurance company, and send the
new check out to the insurance company
,Under which of the following circumstances will the benefits under COBRA
continuation coverage end? - ANSWER-All group health plans are terminated by
the employer
Which type of renewability best describes a Disability Income policy that covers an
individual until the age of 65, but the insurer has the right to change the premium
rate for the overall risk class? - ANSWER-Garunteed Renewable
An incomplete life insurance application submitted to an insurer will result in
which of these actions? - ANSWER-Application will be returned to the writting
agent
The waiting period for a pre-existing condition under a Medicare Supplement
policy may NOT go beyond - ANSWER-6 Months
Which of these statements is INCORRECT regarding the federal income tax
treatment of life insurance? - ANSWER-Entire cash surrender value is taxable
Which of these is considered a mandatory provision? - ANSWER-Payment of
Claims
Which of the following actions will an insurance company most likely NOT take if
an applicant, who has diabetes, applies for a Disability Income policy? - ANSWER-
Issue the policy with an altered Time of Payment of Claims provision
Which of the following phrases refers to the fees charged by a healthcare
professional? - ANSWER-Usual, customary, and reasonable expenses
, D was actively serving in the Marines when he was killed in an automobile
accident while on leave. His $100,000 Whole life policy contains a War Exclusion
clause. How much will D's beneficiary's receive? - ANSWER-The full face amount
N is covered under an individual Disability policy with a 30-day Elimination period
and a monthly benefit of $500. N is totally disabled for 3 1/2 months. N's total
benefit received on this claim is: - ANSWER-$1,250
No benefits are available during the elimination period.
Who does an agent represent during the solicitation or insurance? - ANSWER-The
insurance company
Which of the following costs would a Basic Hospital/Surgical policy likely cover? -
ANSWER-Sugically removing a facial birthmark
The federal income tax treatment of employer-provided group Medical Expense
insurance can be accurately described as: - ANSWER-Employee's premiums paid
by the employer is tax-deductible to the employer as a business expenditure
Premiums paid by an employer for an employee's coverage are deductible by the
employer as a buisness expense
