FLORIDA 2-15 INSURANCE LICENSE EXAM LATEST REAL EXAM 2023/2024| TEST BANK

FLORIDA 2-15 INSURANCE LICENSE EXAM LATEST REAL EXAM 2023/2024| TEST BANK Which of the following is a difference between the level premium annuity and the flexible premium annuity? Select one: a. The amount of the annuity benefit can be guaranteed. b. Premiums can be made over time. c. The purchaser can make premium payments annually. d. The premium payment amounts can vary. Rationale: - One of the disadvantages of the flexible premium annuity is that the annuity benefit amount is not determined in advance. The correct answer is: The amount of the annuity benefit can be guaranteed. HDHPs are most often used with a Select one: a. HMOs b. POSs c. HSAs d. PPOs Rationale: - HDHPs (High deductible health plans) are frequently used with a HSA (Health Savings Account). The correct answer is: HSAs A Medicare supplement insurer cannot deny an application for a Medicare supplement policy if the applicant is both 65 and enrolled in: Select one: a. Medicare Part A b. Medicare Part B c. Medicare Part C d. Medicare Part D Rationale: - A Medicare supplement insurer cannot deny an application for a Medicare supplement policy if the applicant is both 65 and enrolled in Medicare Part B. The correct answer is: Medicare Part B Which of the following is not an eligible group for group life insurance? Select one: a. Employer b. Labor union c. Credit union d. None of the above Rationale: - Group life contracts may be issued to employee groups, debtor groups, labor union groups, trustee groups, association groups, credit union groups, dependent groups and other groups approved by the department. The correct answer is: None of the above Insurance advertisements may not refer to premiums as: Select one: a. Remittances b. Amounts c. Deposits d. Payments Rationale: - Insurance advertisements may not refer to premiums as deposits. The correct answer is: Deposits If a potential insured does not attach his initial premium payment to the insurance application, he is making a legal: Select one: a. Counteroffer b. Contract c. Inquiry for an offer d. Offer Rationale: - If the initial premium payment does not accompany the application, legally the application is considered an inquiry for an offer. The correct answer is: Inquiry for an offer