Florida XCEL health Practice Exam
What type of insurance company is domiciled in England, but conducts business in Florida? - Answer-
Alien
The minimum age at which a person can sign a life insurance application is - Answer-15 Years
In Florida, monthly-premium health insurance policies must provide a grace period of at least - Answer-
10 days
W gave W's age as 50 when W purchased a Life policy. At the time of W's death seven years later, the
company discovered W's true age at issue had been 59. What would the normal procedure be under the
misstatement of age provision in regard to the payment of the death claim? - Answer-The proceeds
would be reduced based on whatever the premium would have been if purchased at age 59
In Florida, which of the following practitioners normally do NOT receive payment from health insurance
policies? - Answer-Naturopaths
What are adjustable rates for life policy loans in Florida based on? - Answer-Moody's corporate bond
index
S takes out a health insurance policy which contains a provision that states that the agent does not have
the authority to change the policy or waive any of its provisions. Which health policy provision is this? -
Answer-Entire Contract
An example of false advertising would be - Answer-An insurer exaggerating its dividends in a magazine
advertisement
,Which of the following acts is an agent NOT authorized to do on behalf of an insurer? - Answer-
Authorize claim payments
The coordination of benefits (COB) provision exists in order to - Answer-avoid duplication of benefit
payment
Which of the following can an agent provide to help a prospective client understand and purchase the
most appropriate product? - Answer-Buyer's guide
Which of the following employees may NOT be excluded from a group life plan? - Answer-Full-time
employees AFTER the probationary period
The free-look period for all qualified Long-term care policies sold in Florida is __ days. - Answer-30
Under Florida law, which of the following provisions is NOT required in a Medicare Supplement policy? -
Answer-Limitation on pre-existing conditions for up to 12 months, it would be correct if it was 6 months.
Which of the following is considered to be misrepresentation? - Answer-An agent guaranteeing a
policy's dividends
Upon reaching the limiting age, a disabled child may extend their health insurance coverage as a
dependent - Answer-only if the child is incapable of employment and chiefly dependent on the
policyowner
What do Dread Disease policies cover? - Answer-A specific disease or illness
What do families pay that are covered by the Florida Healthy Kids Corporation - Answer-A portion of the
premium
,Which of the following is NOT required in the Outline of Coverage for a health insurance policy? -
Answer-Projection of the policy's future costs
In what year was The Florida Office of Financial Regulation (OFR) created? - Answer-2003
Which of the following MUST be included in a Medicare Supplement policy's Outline of Coverage? -
Answer-The policy's limitations and exceptions
Which of the following is NOT required on every insurance application sold in Florida? - Answer-Address
and phone number of the agent
Which of the following professional organizations has its code of ethics incorporated into Florida law? -
Answer-National Association of Insurance and Financial Advisors (NAIFA)
A life insurance policyowner may sell their policy to a(n) _____ in order to receive a percentage of the
policy's face value. - Answer-viatical settlement provider
Which of the following types of insureds are life insurance companies allowed to make policy rate
discriminations against? - Answer-People that smoke
In Florida, an element of an insurance transaction would be - Answer-issuing an insurance contract
Which department oversees 'Market Conduct Examinations' in Florida? - Answer-Office of Insurance
Regulation (OIR)
In Florida, an insurer domiciled and incorporated in this state is called a(n) - Answer-domestic company
, A life insurance policy's grace period entitles the insured a period of no less than ___ days to make the
premium payment. - Answer-30
A license may be denied, suspended, or revoked if the licensee - Answer-is found guilty of
misrepresentation
In Florida, deceptive advertising is considered to be - Answer-a form of misrepresentation
A variable life insurance agent must be licensed and appointed as a life and variable contract agent, as
well as a(n) - Answer-broker dealer
A mutual insurance company and a stock insurance company have one main difference between them.
What is this major contrast? - Answer-Stock company is owned by its shareholders. Mutual company is
owned by its policyholders.
Which required disclosure helps a buyer choose the amount and type of insurance to buy, and how to
save money by comparing the cost of similar policies? - Answer-Buyer's Guide
According to Florida law, group life insurance conversion privileges must NOT - Answer-require evidence
of insurability
With a medical discount plan, how often would a person generally pay a fee to get discounts on specific
services? - Answer-Monthly
The policy summary contains specific information on all of the following, EXCEPT: - Answer-commission
Within how many days must a licensee notify the Department of Financial Services of a change in
address? - Answer-30
What type of insurance company is domiciled in England, but conducts business in Florida? - Answer-
Alien
The minimum age at which a person can sign a life insurance application is - Answer-15 Years
In Florida, monthly-premium health insurance policies must provide a grace period of at least - Answer-
10 days
W gave W's age as 50 when W purchased a Life policy. At the time of W's death seven years later, the
company discovered W's true age at issue had been 59. What would the normal procedure be under the
misstatement of age provision in regard to the payment of the death claim? - Answer-The proceeds
would be reduced based on whatever the premium would have been if purchased at age 59
In Florida, which of the following practitioners normally do NOT receive payment from health insurance
policies? - Answer-Naturopaths
What are adjustable rates for life policy loans in Florida based on? - Answer-Moody's corporate bond
index
S takes out a health insurance policy which contains a provision that states that the agent does not have
the authority to change the policy or waive any of its provisions. Which health policy provision is this? -
Answer-Entire Contract
An example of false advertising would be - Answer-An insurer exaggerating its dividends in a magazine
advertisement
,Which of the following acts is an agent NOT authorized to do on behalf of an insurer? - Answer-
Authorize claim payments
The coordination of benefits (COB) provision exists in order to - Answer-avoid duplication of benefit
payment
Which of the following can an agent provide to help a prospective client understand and purchase the
most appropriate product? - Answer-Buyer's guide
Which of the following employees may NOT be excluded from a group life plan? - Answer-Full-time
employees AFTER the probationary period
The free-look period for all qualified Long-term care policies sold in Florida is __ days. - Answer-30
Under Florida law, which of the following provisions is NOT required in a Medicare Supplement policy? -
Answer-Limitation on pre-existing conditions for up to 12 months, it would be correct if it was 6 months.
Which of the following is considered to be misrepresentation? - Answer-An agent guaranteeing a
policy's dividends
Upon reaching the limiting age, a disabled child may extend their health insurance coverage as a
dependent - Answer-only if the child is incapable of employment and chiefly dependent on the
policyowner
What do Dread Disease policies cover? - Answer-A specific disease or illness
What do families pay that are covered by the Florida Healthy Kids Corporation - Answer-A portion of the
premium
,Which of the following is NOT required in the Outline of Coverage for a health insurance policy? -
Answer-Projection of the policy's future costs
In what year was The Florida Office of Financial Regulation (OFR) created? - Answer-2003
Which of the following MUST be included in a Medicare Supplement policy's Outline of Coverage? -
Answer-The policy's limitations and exceptions
Which of the following is NOT required on every insurance application sold in Florida? - Answer-Address
and phone number of the agent
Which of the following professional organizations has its code of ethics incorporated into Florida law? -
Answer-National Association of Insurance and Financial Advisors (NAIFA)
A life insurance policyowner may sell their policy to a(n) _____ in order to receive a percentage of the
policy's face value. - Answer-viatical settlement provider
Which of the following types of insureds are life insurance companies allowed to make policy rate
discriminations against? - Answer-People that smoke
In Florida, an element of an insurance transaction would be - Answer-issuing an insurance contract
Which department oversees 'Market Conduct Examinations' in Florida? - Answer-Office of Insurance
Regulation (OIR)
In Florida, an insurer domiciled and incorporated in this state is called a(n) - Answer-domestic company
, A life insurance policy's grace period entitles the insured a period of no less than ___ days to make the
premium payment. - Answer-30
A license may be denied, suspended, or revoked if the licensee - Answer-is found guilty of
misrepresentation
In Florida, deceptive advertising is considered to be - Answer-a form of misrepresentation
A variable life insurance agent must be licensed and appointed as a life and variable contract agent, as
well as a(n) - Answer-broker dealer
A mutual insurance company and a stock insurance company have one main difference between them.
What is this major contrast? - Answer-Stock company is owned by its shareholders. Mutual company is
owned by its policyholders.
Which required disclosure helps a buyer choose the amount and type of insurance to buy, and how to
save money by comparing the cost of similar policies? - Answer-Buyer's Guide
According to Florida law, group life insurance conversion privileges must NOT - Answer-require evidence
of insurability
With a medical discount plan, how often would a person generally pay a fee to get discounts on specific
services? - Answer-Monthly
The policy summary contains specific information on all of the following, EXCEPT: - Answer-commission
Within how many days must a licensee notify the Department of Financial Services of a change in
address? - Answer-30
