XCel 2-15 florida life & health state exam
simulator
1. what is considered to be a characteristic of an immediate
annuity: benefit payments start within one payment period of purchase
2. which of these characteristics is consistent with a straight life policy:
premiums are payable for as long as there is insurance coverage in force
3. an insureds inability to perform two or more activities of daily
living may trigger which type of life policy rider: long term care
4. B recently died and was insured with a life insurance policy for
over five years. During the claims process, the insurer discovered
that B had understat-ed his age by 5 years at the time of
application. In this situation, the insurer will: pay the amount that the premium
would have purchased at the correct age
5. what action can a policyowner take if an application for a bank
loan requires collateral: assign policy ownership to the bank
6. what is required in the Florida Employee Health Care Access Act:
small group benefit plans are to be issued on a guarantee issue basis
7. P is a forty year old woman and would like to purchase an
annuity that will provide a lifetime income stream beginning at
age sixty. Which of the following did she NOT buy?: an immediate
annuity
8. the situation in which a group of physicians are salaried
employees and conduct business in an hmo facility is called:
closed panel
9. T sends proof of loss to her insurer for an acceptable medical
expense claim under her individual Health Insurance policy. Upon
receipt, the insurer must pay the benefits: immediately
10. an application
for medicare supplement coverage may not be denied by the
insurer if the application was submitted within month(s) after
the applicant reaches the age 65: six
11. when a policyowner cash surrenders a universal life
insurance policy in its early years, this may be considered a red flag for
a(n): anti money laundering violation
, XCel 2-15 florida life & health state exam
simulator
12. When is a Group Health policy required to provide coverage
for a newborn child?: at the moment of birth
13. which of the following situations does not apply to the florida
replacement rule: an existing policyholder purchases an additional policy from the same
insurer
, XCel 2-15 florida life & health state exam
simulator
14. under a renewable term policy: the renewal premium is calculated on the
basis of the insured's attained age
15. D owns a Whole Life policy that was purchased 10 years
ago. If the premium payments suddenly stop and D takes no
additional action, which Nonforfei-ture Option will the insurer likely
proceed with?: extended term
16. In Florida, which employee is eligible for an employer's
group term life plan?: employee who works more than 40 hours per week
17. which of the following statements is correct regarding an
employer/em-ployee group health plan: the employer receives a master policy and the
employees receive certificates
18. all of the following statements regarding a tax sheltered
annuity (tsa) are true except: income derived from the tsa is received income tax free
19. How would a contingent beneficiary receive the policy
proceeds in an Accidental Death and Dismemberment (AD&D) policy?: if
the primary beneficiary dies before the insured
20. A student pilot can pay regular premium costs for her life
insurance policy with the addition of which of the following?: aviation
exclusion
21. which of these statements is incorrect regarding a preferred
provider orga-nization (ppo)?: ppos are not a type of managed care systems
22. which of the following is considered an accurate statement
of an unfair trade practice?: twisting involves an agent using misrepresentation to convince
a policyowner to cancel their current policy so that they can purchase a new life insurance policy
with another company
23. what is floridas definition of life insurance replacement: a
transaction in which a new policy is bought and an old policy is terminated
24. a sole proprietor may use this plan only if the employees of
this business are included: keogh pension plan
25. a primary beneficiary has died before the insured in a life
insurance policy. a contingent beneficiary is also named in the
policy. which of the following will occur when the insured dies: proceeds will
simulator
1. what is considered to be a characteristic of an immediate
annuity: benefit payments start within one payment period of purchase
2. which of these characteristics is consistent with a straight life policy:
premiums are payable for as long as there is insurance coverage in force
3. an insureds inability to perform two or more activities of daily
living may trigger which type of life policy rider: long term care
4. B recently died and was insured with a life insurance policy for
over five years. During the claims process, the insurer discovered
that B had understat-ed his age by 5 years at the time of
application. In this situation, the insurer will: pay the amount that the premium
would have purchased at the correct age
5. what action can a policyowner take if an application for a bank
loan requires collateral: assign policy ownership to the bank
6. what is required in the Florida Employee Health Care Access Act:
small group benefit plans are to be issued on a guarantee issue basis
7. P is a forty year old woman and would like to purchase an
annuity that will provide a lifetime income stream beginning at
age sixty. Which of the following did she NOT buy?: an immediate
annuity
8. the situation in which a group of physicians are salaried
employees and conduct business in an hmo facility is called:
closed panel
9. T sends proof of loss to her insurer for an acceptable medical
expense claim under her individual Health Insurance policy. Upon
receipt, the insurer must pay the benefits: immediately
10. an application
for medicare supplement coverage may not be denied by the
insurer if the application was submitted within month(s) after
the applicant reaches the age 65: six
11. when a policyowner cash surrenders a universal life
insurance policy in its early years, this may be considered a red flag for
a(n): anti money laundering violation
, XCel 2-15 florida life & health state exam
simulator
12. When is a Group Health policy required to provide coverage
for a newborn child?: at the moment of birth
13. which of the following situations does not apply to the florida
replacement rule: an existing policyholder purchases an additional policy from the same
insurer
, XCel 2-15 florida life & health state exam
simulator
14. under a renewable term policy: the renewal premium is calculated on the
basis of the insured's attained age
15. D owns a Whole Life policy that was purchased 10 years
ago. If the premium payments suddenly stop and D takes no
additional action, which Nonforfei-ture Option will the insurer likely
proceed with?: extended term
16. In Florida, which employee is eligible for an employer's
group term life plan?: employee who works more than 40 hours per week
17. which of the following statements is correct regarding an
employer/em-ployee group health plan: the employer receives a master policy and the
employees receive certificates
18. all of the following statements regarding a tax sheltered
annuity (tsa) are true except: income derived from the tsa is received income tax free
19. How would a contingent beneficiary receive the policy
proceeds in an Accidental Death and Dismemberment (AD&D) policy?: if
the primary beneficiary dies before the insured
20. A student pilot can pay regular premium costs for her life
insurance policy with the addition of which of the following?: aviation
exclusion
21. which of these statements is incorrect regarding a preferred
provider orga-nization (ppo)?: ppos are not a type of managed care systems
22. which of the following is considered an accurate statement
of an unfair trade practice?: twisting involves an agent using misrepresentation to convince
a policyowner to cancel their current policy so that they can purchase a new life insurance policy
with another company
23. what is floridas definition of life insurance replacement: a
transaction in which a new policy is bought and an old policy is terminated
24. a sole proprietor may use this plan only if the employees of
this business are included: keogh pension plan
25. a primary beneficiary has died before the insured in a life
insurance policy. a contingent beneficiary is also named in the
policy. which of the following will occur when the insured dies: proceeds will
