FL Life and Health Insurance 2-15
Study Exam (165 Questions and
Answers)
1. N is covered by a Term Life policy and does not make the
required premium payment which was due August 1. N dies
September 15. What action will the insurer take?
Answer Claim will be denied.
2. A contract where one party either accepts or rejects the terms of
a contract written by another party is called a contract of
Answer adhesion
3. All of the following statements about Major Medical benefits are
true, EX-CEPT
Answer Benefits have no maximum limit
4. 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.
,5. All of these are considered sources of underwriting information
about an applicant, EXCEPT
Answer Inspection Report
6. According to the Mandatory Uniform Policy Provisions, what is the
maximum amount of time after the premium due date during which
the policy remains in force even though the premium has not been
paid?
Answer 31 days
7. Which provision allows the policy owner to change a term life
policy to a permanent one without providing proof of good health?
Answer Conversion
8. What do families pay that are covered by the Florida Healthy
Kids Corpora-tion?
Answer A portion of the premium
9. Which statement regarding third-party ownership of a life
insurance policy is true?
Answer It is used extensively in estate planning as well as business circumstances.
10. Which of the following employees may NOT be excluded
from a group life plan?
, Answer Full-time employees after the probationary period.
11. Which of the following statements BEST describes what the
Legal Actions provision of an Accident and Health policy requires?
Answer An insured must wait at least 60 days after Proof of Loss has been submitted
before a lawsuit can be filed.
12. What percentage of eligible persons must a policy cover in a
noncontributory group?
Answer 100%
13. What are adjustable rates for life policy loans in Florida based
on?
Answer Moody's corporate bond index.
14. An underwriter determines that a life insurance applicant's
risk should be reclassified due to a health issue. This policy may be
issued with a(n)
Answer exclusion for the medical condition
15. What is the initial requirement for an insured to become
eligible for benefits under the Waiver of Premium provision?
Answer Insured must be under a physician's care
16. J has a Disability Income policy that does NOT provide
Study Exam (165 Questions and
Answers)
1. N is covered by a Term Life policy and does not make the
required premium payment which was due August 1. N dies
September 15. What action will the insurer take?
Answer Claim will be denied.
2. A contract where one party either accepts or rejects the terms of
a contract written by another party is called a contract of
Answer adhesion
3. All of the following statements about Major Medical benefits are
true, EX-CEPT
Answer Benefits have no maximum limit
4. 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.
,5. All of these are considered sources of underwriting information
about an applicant, EXCEPT
Answer Inspection Report
6. According to the Mandatory Uniform Policy Provisions, what is the
maximum amount of time after the premium due date during which
the policy remains in force even though the premium has not been
paid?
Answer 31 days
7. Which provision allows the policy owner to change a term life
policy to a permanent one without providing proof of good health?
Answer Conversion
8. What do families pay that are covered by the Florida Healthy
Kids Corpora-tion?
Answer A portion of the premium
9. Which statement regarding third-party ownership of a life
insurance policy is true?
Answer It is used extensively in estate planning as well as business circumstances.
10. Which of the following employees may NOT be excluded
from a group life plan?
, Answer Full-time employees after the probationary period.
11. Which of the following statements BEST describes what the
Legal Actions provision of an Accident and Health policy requires?
Answer An insured must wait at least 60 days after Proof of Loss has been submitted
before a lawsuit can be filed.
12. What percentage of eligible persons must a policy cover in a
noncontributory group?
Answer 100%
13. What are adjustable rates for life policy loans in Florida based
on?
Answer Moody's corporate bond index.
14. An underwriter determines that a life insurance applicant's
risk should be reclassified due to a health issue. This policy may be
issued with a(n)
Answer exclusion for the medical condition
15. What is the initial requirement for an insured to become
eligible for benefits under the Waiver of Premium provision?
Answer Insured must be under a physician's care
16. J has a Disability Income policy that does NOT provide
