FLORIDA 2 15 INSURANCE LICENSE TEST
BANK 2026 FULL QUESTIONS AND
ANSWERS WITH RATIONALES GRADED A+
⩥ What is the minimum deductible for an individual and a family high-
deductible health plan (HDHPs)?
Answer: $1400 for individuals and $2,800 for family coverage
⩥ How many ADLs must a person be unable to complete before they
trigger LTC policy benefits?
Answer: 2 out of 6
⩥ COBRA
Answer: 20
⩥ What type of health insurance policies are employers-provided health
insurance that can be picked and chosen from a menu of benefits in
order to tailor their benefits packages to their specific needs?
Answer: al a carte
⩥ What coverage is designed to cover the cost associated with normal
dental maintenance, oral surgery, root canal therapy, and orthodontia?
Answer: Dental Care
,⩥ What provides a life insurance agent a timely opportunity to renew the
contract and its provision, exclusions, and riders once the policy has
been issued?
Answer: In-Person policy delivery
⩥ Name the policy that provides medical expense coverage for specific
kinds of illnesses and is available primarily due to the high costs
associated with certain illnesses such as cancer or heart disease.
Answer:
⩥ What source of underwriting information is a non-profit organization
established by a number of insurance companies and specifically focuses
on an applicant's medical history?
Answer: Medical Information Bureau
⩥ Life insurance arrangements where investors persuade individuals
typically seniors to take out new life insurance with the investors names
as beneficiary are known as what?
Answer: STOLI/IOLI
Stranger-Owned Life Insurance (STOLI)
Investor-Originated Life Insurance (IOLI)
, ⩥ What is the term for a proposal made by one party
Answer: Acceptance offer
⩥ The value given in exchange for the promise sought?
Answer: Consideration
⩥ What is the term in insurance that refers to when an applicant
application is submitted along with the first premium payment?
Answer: Acceptance
⩥ A contract in which one party agrees to rob a bank in exchange for a
desired object would not be considered a valid and binding contract
because?
Answer: Legal purpose
⩥ What type of retirement plans does not meet certain requirements
established by the federal government and does not receive favorable tax
treatment?
Answer: Qualified plan
⩥ A person who elects to retire at age 62 with Social Security retirement
plans will receive benefits equal to what percentage of their (PIA)
Answer: 70% to 75%
BANK 2026 FULL QUESTIONS AND
ANSWERS WITH RATIONALES GRADED A+
⩥ What is the minimum deductible for an individual and a family high-
deductible health plan (HDHPs)?
Answer: $1400 for individuals and $2,800 for family coverage
⩥ How many ADLs must a person be unable to complete before they
trigger LTC policy benefits?
Answer: 2 out of 6
⩥ COBRA
Answer: 20
⩥ What type of health insurance policies are employers-provided health
insurance that can be picked and chosen from a menu of benefits in
order to tailor their benefits packages to their specific needs?
Answer: al a carte
⩥ What coverage is designed to cover the cost associated with normal
dental maintenance, oral surgery, root canal therapy, and orthodontia?
Answer: Dental Care
,⩥ What provides a life insurance agent a timely opportunity to renew the
contract and its provision, exclusions, and riders once the policy has
been issued?
Answer: In-Person policy delivery
⩥ Name the policy that provides medical expense coverage for specific
kinds of illnesses and is available primarily due to the high costs
associated with certain illnesses such as cancer or heart disease.
Answer:
⩥ What source of underwriting information is a non-profit organization
established by a number of insurance companies and specifically focuses
on an applicant's medical history?
Answer: Medical Information Bureau
⩥ Life insurance arrangements where investors persuade individuals
typically seniors to take out new life insurance with the investors names
as beneficiary are known as what?
Answer: STOLI/IOLI
Stranger-Owned Life Insurance (STOLI)
Investor-Originated Life Insurance (IOLI)
, ⩥ What is the term for a proposal made by one party
Answer: Acceptance offer
⩥ The value given in exchange for the promise sought?
Answer: Consideration
⩥ What is the term in insurance that refers to when an applicant
application is submitted along with the first premium payment?
Answer: Acceptance
⩥ A contract in which one party agrees to rob a bank in exchange for a
desired object would not be considered a valid and binding contract
because?
Answer: Legal purpose
⩥ What type of retirement plans does not meet certain requirements
established by the federal government and does not receive favorable tax
treatment?
Answer: Qualified plan
⩥ A person who elects to retire at age 62 with Social Security retirement
plans will receive benefits equal to what percentage of their (PIA)
Answer: 70% to 75%
