Florida Health and Life Insurance
State Exam Practice Part 1
Which Accident and Health policy provision addresses preexisting conditions? - correct
Answer-Time Limit on Certain Defenses
Which of the following individual health insurance policies will provide the broadest
protection? - correct Answer-Major Medical
Which of the following situations does NOT apply to the Florida Replacement Rule? -
correct 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? - correct 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? - correct 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? - correct Answer-Garunteed Renewable
An incomplete life insurance application submitted to an insurer will result in which of
these actions? - correct 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 - correct Answer-6 Months
Which of these statements is INCORRECT regarding the federal income tax treatment
of life insurance? - correct Answer-Entire cash surrender value is taxable
Which of these is considered a mandatory provision? - correct 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? - correct 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?
- correct 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? - correct 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: - correct Answer-$1,250
No benefits are available during the elimination period.
Who does an agent represent during the solicitation or insurance? - correct Answer-The
insurance company
Which of the following costs would a Basic Hospital/Surgical policy likely cover? -
correct Answer-Sugically removing a facial birthmark
The federal income tax treatment of employer-provided group Medical Expense
insurance can be accurately described as: - correct Answer-Employee's premiums paid
by the employer is tax-deductible to the employer as a business expenditure
Premiums paid by an employer for an employee's coverage are deductible by the
employer as a buisness expense
What must the policyowner provide to the insurer for validation that a loss has
occurred? - correct Answer-proof of loss
Association Plans that are designed to provide health benefits to their members are
regulated by the state because - correct Answer-They are insured by and authorized
insurer
Which product would best serve a retired individual looking to invest a lump-sum of
money through an insurance company? - correct Answer-annuity
Which of the following factors affects the amount of monthly disability benefits payable
under Social Security? - correct Answer-The amount of benefits availible from other
sources
State Exam Practice Part 1
Which Accident and Health policy provision addresses preexisting conditions? - correct
Answer-Time Limit on Certain Defenses
Which of the following individual health insurance policies will provide the broadest
protection? - correct Answer-Major Medical
Which of the following situations does NOT apply to the Florida Replacement Rule? -
correct 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? - correct 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? - correct 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? - correct Answer-Garunteed Renewable
An incomplete life insurance application submitted to an insurer will result in which of
these actions? - correct 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 - correct Answer-6 Months
Which of these statements is INCORRECT regarding the federal income tax treatment
of life insurance? - correct Answer-Entire cash surrender value is taxable
Which of these is considered a mandatory provision? - correct 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? - correct 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?
- correct 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? - correct 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: - correct Answer-$1,250
No benefits are available during the elimination period.
Who does an agent represent during the solicitation or insurance? - correct Answer-The
insurance company
Which of the following costs would a Basic Hospital/Surgical policy likely cover? -
correct Answer-Sugically removing a facial birthmark
The federal income tax treatment of employer-provided group Medical Expense
insurance can be accurately described as: - correct Answer-Employee's premiums paid
by the employer is tax-deductible to the employer as a business expenditure
Premiums paid by an employer for an employee's coverage are deductible by the
employer as a buisness expense
What must the policyowner provide to the insurer for validation that a loss has
occurred? - correct Answer-proof of loss
Association Plans that are designed to provide health benefits to their members are
regulated by the state because - correct Answer-They are insured by and authorized
insurer
Which product would best serve a retired individual looking to invest a lump-sum of
money through an insurance company? - correct Answer-annuity
Which of the following factors affects the amount of monthly disability benefits payable
under Social Security? - correct Answer-The amount of benefits availible from other
sources
