Florida 2-15 Insurance License Exam Newest 2026
Questions and Correct Detailed Answers Already
Graded A+
Basic Medical Expense insurance limits coverage to specific types of medical care.
CORRECT ANSWER-TRUE
A _____________ group involves combining several parties into a group for the
purpose of obtaining insurance. CORRECT ANSWER-fictitious
The ____________________ Act mandated once and for all that insurance would
be regulated by the states. CORRECT ANSWER-McCarran-Ferguson
The type of annuity that provides a guaranteed rate of return is called a variable
annuity. CORRECT ANSWER-FALSE
Mathew purchased an annuity naming his wife, Cher, beneficiary. Upon Mathew's
death, Cher will receive the proceeds: CORRECT ANSWER-taxed as ordinary
income above Mathew's cost basis.
,Policy reserves are the intangible amounts set aside by the _____________ out of
the insurer's assets at the beginning of the policy period. CORRECT ANSWER-
insurer
Accumulation units are converted into annuity units: CORRECT ANSWER-at the
time of annuity payout.
A group life insurance plan in which the employer pays the entire premium is
known as a ________________ plan. CORRECT ANSWER-noncontributory
If a disabled worker covered under Social Security disability benefits recovers and
then is disabled again within five years, a new waiting period is required before
benefits begin again. CORRECT ANSWER-FALSE
Robert had an accident and qualified for Social Security disability. Given the
waiting period, when will Robert begin to receive benefits? CORRECT
ANSWER-After 5 months
The Insuring Clause includes all of the following EXCEPT the CORRECT
ANSWER-beneficiary
, Mutualization occurs when a stock company turns to a __________ company.
CORRECT ANSWER-mutual
To provide a safeguard for insureds, most major medical policies contain a
____________ feature that limits the insured's out-of-pocket expenses.
CORRECT ANSWER-stop-loss
Tom is a newly appointed life, health and variable annuity agent with Acme
Insurance Agency. He is writing his first insurance policy on his brother-in-law's
life. Who does Tom legally represent in this transaction? CORRECT ANSWER-
Acme Insurance Agency
An insurance clause is a distinct article in a formal document that establishes the
rules in the contract that _____________________ must adhere to. CORRECT
ANSWER-both the insurer and the insured
"ACC" refers to the type of disability that prevents someone from performing the
job he was performing prior to the disability. CORRECT ANSWER-FALSE
Which statement is CORRECT about the Department of Financial Services' right to
examine an agent's records? CORRECT ANSWER-An examination can be
conducted at any time to discover any unfair trade practices.
Questions and Correct Detailed Answers Already
Graded A+
Basic Medical Expense insurance limits coverage to specific types of medical care.
CORRECT ANSWER-TRUE
A _____________ group involves combining several parties into a group for the
purpose of obtaining insurance. CORRECT ANSWER-fictitious
The ____________________ Act mandated once and for all that insurance would
be regulated by the states. CORRECT ANSWER-McCarran-Ferguson
The type of annuity that provides a guaranteed rate of return is called a variable
annuity. CORRECT ANSWER-FALSE
Mathew purchased an annuity naming his wife, Cher, beneficiary. Upon Mathew's
death, Cher will receive the proceeds: CORRECT ANSWER-taxed as ordinary
income above Mathew's cost basis.
,Policy reserves are the intangible amounts set aside by the _____________ out of
the insurer's assets at the beginning of the policy period. CORRECT ANSWER-
insurer
Accumulation units are converted into annuity units: CORRECT ANSWER-at the
time of annuity payout.
A group life insurance plan in which the employer pays the entire premium is
known as a ________________ plan. CORRECT ANSWER-noncontributory
If a disabled worker covered under Social Security disability benefits recovers and
then is disabled again within five years, a new waiting period is required before
benefits begin again. CORRECT ANSWER-FALSE
Robert had an accident and qualified for Social Security disability. Given the
waiting period, when will Robert begin to receive benefits? CORRECT
ANSWER-After 5 months
The Insuring Clause includes all of the following EXCEPT the CORRECT
ANSWER-beneficiary
, Mutualization occurs when a stock company turns to a __________ company.
CORRECT ANSWER-mutual
To provide a safeguard for insureds, most major medical policies contain a
____________ feature that limits the insured's out-of-pocket expenses.
CORRECT ANSWER-stop-loss
Tom is a newly appointed life, health and variable annuity agent with Acme
Insurance Agency. He is writing his first insurance policy on his brother-in-law's
life. Who does Tom legally represent in this transaction? CORRECT ANSWER-
Acme Insurance Agency
An insurance clause is a distinct article in a formal document that establishes the
rules in the contract that _____________________ must adhere to. CORRECT
ANSWER-both the insurer and the insured
"ACC" refers to the type of disability that prevents someone from performing the
job he was performing prior to the disability. CORRECT ANSWER-FALSE
Which statement is CORRECT about the Department of Financial Services' right to
examine an agent's records? CORRECT ANSWER-An examination can be
conducted at any time to discover any unfair trade practices.
