Florida Insurance Exam Actual Questions and
Correct Answers| Updated
The clause identifying which losses resulting from an accident or sickness are
insured by the policy is called the:
Insuring clause
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
A life insurance arrangement which circumvents insurable interest statutes is
called:
Investor-Originated Life Insurance
Which health policy provision states that the producer does NOT have the
authority to change the policy or waive any of its provisions?
Entire Contract
Within how many days after policy delivery can a Medicare Supplement policy
be returned for a 100% premium refund?
30
,Which is NOT an unfair claim settlement practice?
Needing written documentation of claim details
Who is NOT required to sign a life insurance application?
Beneficiary
To be eligible for Social Security disability benefits, an employee must be unable
to perform:
any occupation
The type of annuity that can be purchased with one monetary deposit is called
a(n):
Immediate annuity
A life insurance application must be signed by all of these, EXCEPT:
beneficiary
Which 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
The Accelerated Death Benefit provision in a life insurance policy is also known
as a(n):
Living Benefit
, Which policy feature allows an insured to defer current health charges to the
following year's deductible instead of the current year's deductible?
Carryover provision
Insurance policies are considered aleatory contracts because
performance is conditioned upon a future occurrence
Within how many days must a licensee notify the Department of Financial
Services of a change in address?
30
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
The clause in an Accident and Health policy which defines the benefit amounts
the insurer will pay is called the:
Insuring clause
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
Correct Answers| Updated
The clause identifying which losses resulting from an accident or sickness are
insured by the policy is called the:
Insuring clause
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
A life insurance arrangement which circumvents insurable interest statutes is
called:
Investor-Originated Life Insurance
Which health policy provision states that the producer does NOT have the
authority to change the policy or waive any of its provisions?
Entire Contract
Within how many days after policy delivery can a Medicare Supplement policy
be returned for a 100% premium refund?
30
,Which is NOT an unfair claim settlement practice?
Needing written documentation of claim details
Who is NOT required to sign a life insurance application?
Beneficiary
To be eligible for Social Security disability benefits, an employee must be unable
to perform:
any occupation
The type of annuity that can be purchased with one monetary deposit is called
a(n):
Immediate annuity
A life insurance application must be signed by all of these, EXCEPT:
beneficiary
Which 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
The Accelerated Death Benefit provision in a life insurance policy is also known
as a(n):
Living Benefit
, Which policy feature allows an insured to defer current health charges to the
following year's deductible instead of the current year's deductible?
Carryover provision
Insurance policies are considered aleatory contracts because
performance is conditioned upon a future occurrence
Within how many days must a licensee notify the Department of Financial
Services of a change in address?
30
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
The clause in an Accident and Health policy which defines the benefit amounts
the insurer will pay is called the:
Insuring clause
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
