Florida Insurance Exam Questions and
Answers
1. The clause identifying which losses resulting from an accident or
sickness are insured by the policy is called the:: Insuring clause
2. K applies for a life insurance policy on herself and submits the
initial premium with the application. She is given a receipt by the
agent stating that coverage begins immediately if the application is
approved. What kind of receipt was used?: Conditional
3. A life insurance arrangement which circumvents insurable interest
statutes is called:: Investor-Originated Life Insurance
4. Which of the following health policy provisions states that the
producer does NOT have the authority to change the policy or waive
any of its provisions?: Entire Contract
5. Within how many days after policy delivery can a Medicare
Supplement policy be returned for a 100% premium refund?: 30
6. Which of the following is NOT an unfair claim settlement practice?:
Needing written documentation of claim details
,7. Who is NOT required to sign a life insurance application?: Beneficiary
8. To be eligible for Social Security disability benefits, an
employee must be unable to perform:: any occupation
9. The type of annuity that can be purchased with one monetary
deposit is called a(n):: Immediate annuity
10. A life insurance application must be signed by all of these,
EXCEPT:: beneficiary
11. 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
12. The Accelerated Death Benefit provision in a life insurance
policy is also known as a(n):: Living Benefit
13. Which of the following policy features allows an insured to
defer current health charges to the following year's deductible
instead of the current year's deducitble?: Carryover provision
14. Insurance policies are considered aleatory contracts because:
performance is conditioned upon a future occurrence
, 15. Within how many days must a licensee notify the
Department of Financial Services of a change in address?: 30
16. Which organization was established to provide funds to
protect an insured in the event of an insurer's insolvency?: Florida Life and
Health Insurance Guaranty Association
17. The clause in an Accident and Health policy which
defines the benefit amounts the insurer will pay is called the::
Insuring clause
18. When a policyowner cash surrenders a Universal Life insurance
policy in it's early years, this may be considered a red flag for a(n):: Anti-
Money Laundering violation
19. According to the Time Payment of Claims provision, the
insurer must pay Disability Income benefits no less frequently than
which of the following op- tions?: Monthly
20. What would the Medical Information Bureau (MIB) identify?:
Testing positive for marijuana use from a previous screening
21. How would a contingent beneficiary receive the policy
Answers
1. The clause identifying which losses resulting from an accident or
sickness are insured by the policy is called the:: Insuring clause
2. K applies for a life insurance policy on herself and submits the
initial premium with the application. She is given a receipt by the
agent stating that coverage begins immediately if the application is
approved. What kind of receipt was used?: Conditional
3. A life insurance arrangement which circumvents insurable interest
statutes is called:: Investor-Originated Life Insurance
4. Which of the following health policy provisions states that the
producer does NOT have the authority to change the policy or waive
any of its provisions?: Entire Contract
5. Within how many days after policy delivery can a Medicare
Supplement policy be returned for a 100% premium refund?: 30
6. Which of the following is NOT an unfair claim settlement practice?:
Needing written documentation of claim details
,7. Who is NOT required to sign a life insurance application?: Beneficiary
8. To be eligible for Social Security disability benefits, an
employee must be unable to perform:: any occupation
9. The type of annuity that can be purchased with one monetary
deposit is called a(n):: Immediate annuity
10. A life insurance application must be signed by all of these,
EXCEPT:: beneficiary
11. 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
12. The Accelerated Death Benefit provision in a life insurance
policy is also known as a(n):: Living Benefit
13. Which of the following policy features allows an insured to
defer current health charges to the following year's deductible
instead of the current year's deducitble?: Carryover provision
14. Insurance policies are considered aleatory contracts because:
performance is conditioned upon a future occurrence
, 15. Within how many days must a licensee notify the
Department of Financial Services of a change in address?: 30
16. Which organization was established to provide funds to
protect an insured in the event of an insurer's insolvency?: Florida Life and
Health Insurance Guaranty Association
17. The clause in an Accident and Health policy which
defines the benefit amounts the insurer will pay is called the::
Insuring clause
18. When a policyowner cash surrenders a Universal Life insurance
policy in it's early years, this may be considered a red flag for a(n):: Anti-
Money Laundering violation
19. According to the Time Payment of Claims provision, the
insurer must pay Disability Income benefits no less frequently than
which of the following op- tions?: Monthly
20. What would the Medical Information Bureau (MIB) identify?:
Testing positive for marijuana use from a previous screening
21. How would a contingent beneficiary receive the policy
