Exam Simulator FL-LH - FL Health and Life
and Annuity Questions and Answers
1. A non-contributory plan
requires participation of all eligible
employ- ees: 100%
2. A characteristic of preferred provider organizations (PPOS) would be::
Discounted fees for the patient
3. Which of the following areas of state regulation is NOT
protected by the saving clause in ERISA?: Commerce
4. Additional coverage can be added to a whole Life policy by adding
a(n):: decreas- ing term rider
5. What benefit does the payor clause on a Juvenile Life policy provide?:
Premiums are waived if the payor becomes disabled
6. According to Florida law, when must an agent deliver the outline of
Coverage to a Medicare Supplement applicant?: At the time of application
7. N is a student pilot with a large life insurance policy. Which of
these features would limit the insurer's obligation in the event N was
,killed while flying as a student pilot?: Exclusion
8. Which statement is true regarding a minor beneficiary ?: Normally,
a guarding is required to be appointed in the Beneficiary clause of the contract
9. A sole proprietor may use this plan ONLY if the employees of this
business are included.: Individual Retirement Account (IRA)
10. Which of the following provisions is NOT required in HMO
contracts/certifi- cated?: Seven-day grace period
11. The Bureau of Unclaimed Property is overseen by the: Chief
Financial Oflcer
12. A life policy that contains a monthly mortality charge as well
as self-directed investment choices is called a(n): Variable Universal Life
policy
13. An insurance company normally has 2 years to contest
information provided on an accident and health application. This 2
year period begins on the date that the:: insurer dated the policy
14. P is a new employee and will be obtaining non- contributory
group Major Medical insurance from her employer. Which of the
following actions must she take during the open enrollment period?:
,Sign an enrollment card
15. Which of the following statements is true about most Blue
Cross/Blue Shield organizations?: They are nonprofit organizations
16. A "reimbursement policy" pays what amount of covered
Long-Term care expenses?: Actual covered expenses up to the daily maximum
17. An individual covered under a group life insurance policy is
considered to be a (n): certificate holder
18. The has the right to change a life insurance policy's
beneficiary.: -
Policyowner
19. Which of the following documents must an agent submit to
the replacing insurance company during the replacement of an
existing life insurance poli- cy?: Notice to existing and replacing insurers of intention to
replace
20. Which of these statements concerning an individual Disability
income policy is TRUE?: Normally includes an Elimination period
, 21. A statement made by an insured in an insurance application
that must be true to the best of one's knowledge and which
becomes a part of the contract is known as: a representation
22. A foreign insurance company doing business in Florida: is a company
that was formed under the laws of another state
23. An
insurer must provide an insured with claim forms within days
after receiving notice of a loss.: 15
24. When an insurer issues a policy that refuses to cover
certain risks, this is referred to as a(n)
:: exclusion
25. What is the initial source of underwriting for an insurance
policy?: Application containing statements from the insured
26. T, age 70, withdraws cash from a profit-sharing plan and
purchases a Straight life Annuity. What will this transaction provide?: Income
that cannot be outlived by the owner
27. Tom has a qualified retirement plan with his employer that is
currently considered to be 80% "vested". How can this be interpreted?:
If Tom's employment is terminated, 20% of the funds would be forfeited
28. Which settlement option pays a stated amount to an
annuitant, but no residual value to a beneficiary?: Life Income
and Annuity Questions and Answers
1. A non-contributory plan
requires participation of all eligible
employ- ees: 100%
2. A characteristic of preferred provider organizations (PPOS) would be::
Discounted fees for the patient
3. Which of the following areas of state regulation is NOT
protected by the saving clause in ERISA?: Commerce
4. Additional coverage can be added to a whole Life policy by adding
a(n):: decreas- ing term rider
5. What benefit does the payor clause on a Juvenile Life policy provide?:
Premiums are waived if the payor becomes disabled
6. According to Florida law, when must an agent deliver the outline of
Coverage to a Medicare Supplement applicant?: At the time of application
7. N is a student pilot with a large life insurance policy. Which of
these features would limit the insurer's obligation in the event N was
,killed while flying as a student pilot?: Exclusion
8. Which statement is true regarding a minor beneficiary ?: Normally,
a guarding is required to be appointed in the Beneficiary clause of the contract
9. A sole proprietor may use this plan ONLY if the employees of this
business are included.: Individual Retirement Account (IRA)
10. Which of the following provisions is NOT required in HMO
contracts/certifi- cated?: Seven-day grace period
11. The Bureau of Unclaimed Property is overseen by the: Chief
Financial Oflcer
12. A life policy that contains a monthly mortality charge as well
as self-directed investment choices is called a(n): Variable Universal Life
policy
13. An insurance company normally has 2 years to contest
information provided on an accident and health application. This 2
year period begins on the date that the:: insurer dated the policy
14. P is a new employee and will be obtaining non- contributory
group Major Medical insurance from her employer. Which of the
following actions must she take during the open enrollment period?:
,Sign an enrollment card
15. Which of the following statements is true about most Blue
Cross/Blue Shield organizations?: They are nonprofit organizations
16. A "reimbursement policy" pays what amount of covered
Long-Term care expenses?: Actual covered expenses up to the daily maximum
17. An individual covered under a group life insurance policy is
considered to be a (n): certificate holder
18. The has the right to change a life insurance policy's
beneficiary.: -
Policyowner
19. Which of the following documents must an agent submit to
the replacing insurance company during the replacement of an
existing life insurance poli- cy?: Notice to existing and replacing insurers of intention to
replace
20. Which of these statements concerning an individual Disability
income policy is TRUE?: Normally includes an Elimination period
, 21. A statement made by an insured in an insurance application
that must be true to the best of one's knowledge and which
becomes a part of the contract is known as: a representation
22. A foreign insurance company doing business in Florida: is a company
that was formed under the laws of another state
23. An
insurer must provide an insured with claim forms within days
after receiving notice of a loss.: 15
24. When an insurer issues a policy that refuses to cover
certain risks, this is referred to as a(n)
:: exclusion
25. What is the initial source of underwriting for an insurance
policy?: Application containing statements from the insured
26. T, age 70, withdraws cash from a profit-sharing plan and
purchases a Straight life Annuity. What will this transaction provide?: Income
that cannot be outlived by the owner
27. Tom has a qualified retirement plan with his employer that is
currently considered to be 80% "vested". How can this be interpreted?:
If Tom's employment is terminated, 20% of the funds would be forfeited
28. Which settlement option pays a stated amount to an
annuitant, but no residual value to a beneficiary?: Life Income
