Florida 2-15 Insurance Exam Questions and
Answers
1. In a 3 partner cross-purchase plan, how many policies need to be
purchased in order to protect each partner against the loss of any other
partner?
Answer 6
2. Accordi
ng to the NAIC Life Insurance Solicitation Model, when soliciting life
insurance, a producer is required to provide a prospect with a and a
specific to the product being marketed.
Answer general buyer's guide; policy summary
3. The Incontestable Clause states that the insurer cannot contest the
validity of a life insurance policy as long as it remains in force after
what period of time?
Answer Usually 2 years, but in some states only 1 year
4. Mr. Baker has named his son as the beneficiary to his life insurance
policy, but he is worried about his son's spending habits and the money his
son might already owe when he receives the death benefit. Which policy
provision, clause or rider best fits his situation?
Answer Spendthrift Provision
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, 5. The following life policy settlement options are available to the policy's
beneficiary EXCEPT
Answer Interest-Free Option
6. When dividends are issued, the policyowner has the following dividend
options in utilizing a return EXCEPT
Answer Life Income Option
7. 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
8. In the event that a parent dies or becomes disabled, which rider
allows sur- viving child coverage to continue until the child reaches a
specified age?
Answer Payor Rider
9. According to the NAIC Model Group Life Insurance Provisions, what
is the standard grace period?
Answer 30-31 days
10. Which statement regarding annuities is CORRECT?
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11
Answers
1. In a 3 partner cross-purchase plan, how many policies need to be
purchased in order to protect each partner against the loss of any other
partner?
Answer 6
2. Accordi
ng to the NAIC Life Insurance Solicitation Model, when soliciting life
insurance, a producer is required to provide a prospect with a and a
specific to the product being marketed.
Answer general buyer's guide; policy summary
3. The Incontestable Clause states that the insurer cannot contest the
validity of a life insurance policy as long as it remains in force after
what period of time?
Answer Usually 2 years, but in some states only 1 year
4. Mr. Baker has named his son as the beneficiary to his life insurance
policy, but he is worried about his son's spending habits and the money his
son might already owe when he receives the death benefit. Which policy
provision, clause or rider best fits his situation?
Answer Spendthrift Provision
1/
11
, 5. The following life policy settlement options are available to the policy's
beneficiary EXCEPT
Answer Interest-Free Option
6. When dividends are issued, the policyowner has the following dividend
options in utilizing a return EXCEPT
Answer Life Income Option
7. 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
8. In the event that a parent dies or becomes disabled, which rider
allows sur- viving child coverage to continue until the child reaches a
specified age?
Answer Payor Rider
9. According to the NAIC Model Group Life Insurance Provisions, what
is the standard grace period?
Answer 30-31 days
10. Which statement regarding annuities is CORRECT?
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11
