Florida 2-15 Insurance License Exam
Questions And Correct Answers
Accumulation units are converted into annuity units:
at the time of annuity payout.
A group life insurance plan in which the employer pays the entire premium is known
as a ________________ plan.
noncontributory
If a disabled worker covered under Social Security disability benefits recovers and
then is disabled again within five years, a new waiting period is required before
benefits begin again.
FALSE
Robert had an accident and qualified for Social Security disability. Given the waiting
period, when will Robert begin to receive benefits?
After 5 months
The Insuring Clause includes all of the following EXCEPT the
,beneficiary
Mutualization occurs when a stock company turns to a __________ company.
mutual
To provide a safeguard for insureds, most major medical policies contain a
____________ feature that limits the insured's out-of-pocket expenses.
stop-loss
Tom is a newly appointed life, health and variable annuity agent with Acme Insurance
Agency. He is writing his first insurance policy on his brother-in-law's life. Who does
Tom legally represent in this transaction?
Acme Insurance Agency
An insurance clause is a distinct article in a formal document that establishes the rules
in the contract that _____________________ must adhere to.
both the insurer and the insured
"ACC" refers to the type of disability that prevents someone from performing the job
he was performing prior to the disability.
FALSE
, Which statement is CORRECT about the Department of Financial Services' right to
examine an agent's records?
An examination can be conducted at any time to discover any unfair trade practices.
Bill gives Jim a couple of tickets to a Florida Gators game to thank him for purchasing a
policy. This is an example of:
rebating
____________ term insurance provides a level amount of protection for a specified
period, after which the policy expires.
Level
Business overhead expense (B.O.E.) insurance does not provide benefits to cover the
business owner's salary.
TRUE
Level, decreasing, and increasing insurance are all basic forms of ____________
insurance.
term
Questions And Correct Answers
Accumulation units are converted into annuity units:
at the time of annuity payout.
A group life insurance plan in which the employer pays the entire premium is known
as a ________________ plan.
noncontributory
If a disabled worker covered under Social Security disability benefits recovers and
then is disabled again within five years, a new waiting period is required before
benefits begin again.
FALSE
Robert had an accident and qualified for Social Security disability. Given the waiting
period, when will Robert begin to receive benefits?
After 5 months
The Insuring Clause includes all of the following EXCEPT the
,beneficiary
Mutualization occurs when a stock company turns to a __________ company.
mutual
To provide a safeguard for insureds, most major medical policies contain a
____________ feature that limits the insured's out-of-pocket expenses.
stop-loss
Tom is a newly appointed life, health and variable annuity agent with Acme Insurance
Agency. He is writing his first insurance policy on his brother-in-law's life. Who does
Tom legally represent in this transaction?
Acme Insurance Agency
An insurance clause is a distinct article in a formal document that establishes the rules
in the contract that _____________________ must adhere to.
both the insurer and the insured
"ACC" refers to the type of disability that prevents someone from performing the job
he was performing prior to the disability.
FALSE
, Which statement is CORRECT about the Department of Financial Services' right to
examine an agent's records?
An examination can be conducted at any time to discover any unfair trade practices.
Bill gives Jim a couple of tickets to a Florida Gators game to thank him for purchasing a
policy. This is an example of:
rebating
____________ term insurance provides a level amount of protection for a specified
period, after which the policy expires.
Level
Business overhead expense (B.O.E.) insurance does not provide benefits to cover the
business owner's salary.
TRUE
Level, decreasing, and increasing insurance are all basic forms of ____________
insurance.
term
