FLORIDA HEALTH AND LIFE INSURANCE STATE
EXAM PRACTICE PART 1
Which Accident and Health policy provision addresses preexisting
conditions? - ANSWER -Time Limit on Certain Defenses
Which of the following individual health insurance policies will provide
the broadest protection? - ANSWER -Major Medical
Which of the following situations does NOT apply to the Florida
Replacement Rule? - ANSWER -An existing policyholder purchases an
additional policy from the same insurer
Agent J takes an application and initial premium from an applicant and
sends the application and premium check to the insurance company.
The insurance company returns the check back to J because the check is
made out to J instead of the insurance company. What action should J
take? - ANSWER -Return to the customer, collect a new check made out
to the insurance company, and send the new check out to the insurance
company
,Under which of the following circumstances will the benefits under
COBRA continuation coverage end? - ANSWER -All group health plans
are terminated by the employer
Which type of renewability best describes a Disability Income policy
that covers an individual until the age of 65, but the insurer has the
right to change the premium rate for the overall risk class? - ANSWER -
Garunteed Renewable
An incomplete life insurance application submitted to an insurer will
result in which of these actions? - ANSWER -Application will be returned
to the writting agent
The waiting period for a pre-existing condition under a Medicare
Supplement policy may NOT go beyond - ANSWER -6 Months
Which of these statements is INCORRECT regarding the federal income
tax treatment of life insurance? - ANSWER -Entire cash surrender value
is taxable
Which of these is considered a mandatory provision? - ANSWER -
Payment of Claims
, Which of the following actions will an insurance company most likely
NOT take if an applicant, who has diabetes, applies for a Disability
Income policy? - ANSWER -Issue the policy with an altered Time of
Payment of Claims provision
Which of the following phrases refers to the fees charged by a
healthcare professional? - ANSWER -Usual, customary, and reasonable
expenses
D was actively serving in the Marines when he was killed in an
automobile accident while on leave. His $100,000 Whole life policy
contains a War Exclusion clause. How much will D's beneficiary's
receive? - ANSWER -The full face amount
N is covered under an individual Disability policy with a 30-day
Elimination period and a monthly benefit of $500. N is totally disabled
for 3 1/2 months. N's total benefit received on this claim is: - ANSWER -
$1,250
No benefits are available during the elimination period.
Who does an agent represent during the solicitation or insurance? -
ANSWER -The insurance company
EXAM PRACTICE PART 1
Which Accident and Health policy provision addresses preexisting
conditions? - ANSWER -Time Limit on Certain Defenses
Which of the following individual health insurance policies will provide
the broadest protection? - ANSWER -Major Medical
Which of the following situations does NOT apply to the Florida
Replacement Rule? - ANSWER -An existing policyholder purchases an
additional policy from the same insurer
Agent J takes an application and initial premium from an applicant and
sends the application and premium check to the insurance company.
The insurance company returns the check back to J because the check is
made out to J instead of the insurance company. What action should J
take? - ANSWER -Return to the customer, collect a new check made out
to the insurance company, and send the new check out to the insurance
company
,Under which of the following circumstances will the benefits under
COBRA continuation coverage end? - ANSWER -All group health plans
are terminated by the employer
Which type of renewability best describes a Disability Income policy
that covers an individual until the age of 65, but the insurer has the
right to change the premium rate for the overall risk class? - ANSWER -
Garunteed Renewable
An incomplete life insurance application submitted to an insurer will
result in which of these actions? - ANSWER -Application will be returned
to the writting agent
The waiting period for a pre-existing condition under a Medicare
Supplement policy may NOT go beyond - ANSWER -6 Months
Which of these statements is INCORRECT regarding the federal income
tax treatment of life insurance? - ANSWER -Entire cash surrender value
is taxable
Which of these is considered a mandatory provision? - ANSWER -
Payment of Claims
, Which of the following actions will an insurance company most likely
NOT take if an applicant, who has diabetes, applies for a Disability
Income policy? - ANSWER -Issue the policy with an altered Time of
Payment of Claims provision
Which of the following phrases refers to the fees charged by a
healthcare professional? - ANSWER -Usual, customary, and reasonable
expenses
D was actively serving in the Marines when he was killed in an
automobile accident while on leave. His $100,000 Whole life policy
contains a War Exclusion clause. How much will D's beneficiary's
receive? - ANSWER -The full face amount
N is covered under an individual Disability policy with a 30-day
Elimination period and a monthly benefit of $500. N is totally disabled
for 3 1/2 months. N's total benefit received on this claim is: - ANSWER -
$1,250
No benefits are available during the elimination period.
Who does an agent represent during the solicitation or insurance? -
ANSWER -The insurance company
