214 Florida Insurance| Questions -Best Answers
2023
Which type of insurance protects an agent and even pays claims if a lawsuit
is brought against the agent as a result of failing to provide a service to a
client?
Errors and Omissions Insurance
Which of the following terms is known as the voluntary relinquishment of a
given right or privilege?
Waiver
This Supreme Court case placed the regulation of insurance within the
authority of the federal government by defining insurance as a form of
interstate commerce?
United States v. Southeastern Underwriters Association (1944)
Tim was just hired today by MAB INC and wants to join the company's group
insurance policy. What period of time is he currently in and when can he join
the plan?
Probationary period, he can sign up after 90 days
If Justin submitted an initial premium with his life insurance application, was
provided a conditional receipt by the insurance company and was
ultimately issued a policy as applied for, when would his insurance policy be
considered in force?
The date of his application or the day he completed any required medical
exam When dividends are issued, the policyowner has the following
dividend options in utilizing a return EXCEPT:
Life Income Option
Which two life insurance riders can Bill purchase to guarantee that his
policy will continue without further commitment from him and that income
will be paid to him if he becomes totally and permanently disabled?
Waiver of premium and Disability Income Riders
In a contributory group plan, what percentage of eligible employees must be
covered? 75%
Which statement regarding annuities is CORRECT?
Variable annuity units are fixed but the annuity payment will vary according
to the value of the annuity unit.
In order to be considered currently insured and thus eligible for limited
survivor benefits from Social Security, a worker must have earned
credits during the 13-quarter
period ending with the quarter in which the worker died.
6
Social security is also known as:
Old Age Survivors and Disability Insurance
(OASDI) Insurance is not intended to protect
against?
Speculative Risk
Under a family plan life insurance policy, coverage on the breadwinner is
often provided by which of the following insurance types?
This study source was downloaded by 100000847097152 from CourseHero.com on 01-27-2024 05:36:09 GMT -06:00
https://www.coursehero.com/file/218947978/214-Florida-Insurance-Questions-Best-Answers-2023pdf/
, Whole Life
Which of the following statements regarding annuity settlement or payout
options is NOT true?
This study source was downloaded by 100000847097152 from CourseHero.com on 01-27-2024 05:36:09 GMT -06:00
https://www.coursehero.com/file/218947978/214-Florida-Insurance-Questions-Best-Answers-2023pdf/
2023
Which type of insurance protects an agent and even pays claims if a lawsuit
is brought against the agent as a result of failing to provide a service to a
client?
Errors and Omissions Insurance
Which of the following terms is known as the voluntary relinquishment of a
given right or privilege?
Waiver
This Supreme Court case placed the regulation of insurance within the
authority of the federal government by defining insurance as a form of
interstate commerce?
United States v. Southeastern Underwriters Association (1944)
Tim was just hired today by MAB INC and wants to join the company's group
insurance policy. What period of time is he currently in and when can he join
the plan?
Probationary period, he can sign up after 90 days
If Justin submitted an initial premium with his life insurance application, was
provided a conditional receipt by the insurance company and was
ultimately issued a policy as applied for, when would his insurance policy be
considered in force?
The date of his application or the day he completed any required medical
exam When dividends are issued, the policyowner has the following
dividend options in utilizing a return EXCEPT:
Life Income Option
Which two life insurance riders can Bill purchase to guarantee that his
policy will continue without further commitment from him and that income
will be paid to him if he becomes totally and permanently disabled?
Waiver of premium and Disability Income Riders
In a contributory group plan, what percentage of eligible employees must be
covered? 75%
Which statement regarding annuities is CORRECT?
Variable annuity units are fixed but the annuity payment will vary according
to the value of the annuity unit.
In order to be considered currently insured and thus eligible for limited
survivor benefits from Social Security, a worker must have earned
credits during the 13-quarter
period ending with the quarter in which the worker died.
6
Social security is also known as:
Old Age Survivors and Disability Insurance
(OASDI) Insurance is not intended to protect
against?
Speculative Risk
Under a family plan life insurance policy, coverage on the breadwinner is
often provided by which of the following insurance types?
This study source was downloaded by 100000847097152 from CourseHero.com on 01-27-2024 05:36:09 GMT -06:00
https://www.coursehero.com/file/218947978/214-Florida-Insurance-Questions-Best-Answers-2023pdf/
, Whole Life
Which of the following statements regarding annuity settlement or payout
options is NOT true?
This study source was downloaded by 100000847097152 from CourseHero.com on 01-27-2024 05:36:09 GMT -06:00
https://www.coursehero.com/file/218947978/214-Florida-Insurance-Questions-Best-Answers-2023pdf/
