3 - LAWS AND RULES PERTINENT TO INSURANCE EXAM
QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS
Which of the following is CORRECT about the replacement rule?
A) The replacement rule applies only to health insurance policies.
B) The agent has 90 days from the effective date to deliver a buyer's guide.
C) Instructions regarding the rule are available from appointed life insurers.
D) Up to 30 days is allowed for a full refund of premium.
C) Instructions regarding the rule are available from appointed life insurers.
The replacement rule sets forth the requirements and procedures to be followed by insurance
companies and agents when replacing existing insurance contracts with new ones.
Florida insurance law requires that coverage be provided for a newborn baby from a covered family
member for a period of?
A) 1 month.
B) 6 months.
C) 12 months.
D) 18 months.
, D) 18 months.
Florida law requires coverage be provided for a newborn from a covered family member for 18 months.
An insurance company that is organized or chartered in a country other than the United States is
defined as?
A) foreign.
B) alien.
C) domestic.
D) external.
B) alien.
An alien company is one that is chartered and organized in any country other than the United States.
In Florida, coverage for a child who is dependent on the parents for support due to physical handicap
may be continued beyond the contractual limiting age when which of the following is correct?
A) The child is an inpatient in a healthcare facility.
B) The child becomes a full time student.
C) The child is capable of obtaining coverage on her own.
D) The child is incapable of self sustaining employment.
D) The child is incapable of self sustaining employment.
QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS
Which of the following is CORRECT about the replacement rule?
A) The replacement rule applies only to health insurance policies.
B) The agent has 90 days from the effective date to deliver a buyer's guide.
C) Instructions regarding the rule are available from appointed life insurers.
D) Up to 30 days is allowed for a full refund of premium.
C) Instructions regarding the rule are available from appointed life insurers.
The replacement rule sets forth the requirements and procedures to be followed by insurance
companies and agents when replacing existing insurance contracts with new ones.
Florida insurance law requires that coverage be provided for a newborn baby from a covered family
member for a period of?
A) 1 month.
B) 6 months.
C) 12 months.
D) 18 months.
, D) 18 months.
Florida law requires coverage be provided for a newborn from a covered family member for 18 months.
An insurance company that is organized or chartered in a country other than the United States is
defined as?
A) foreign.
B) alien.
C) domestic.
D) external.
B) alien.
An alien company is one that is chartered and organized in any country other than the United States.
In Florida, coverage for a child who is dependent on the parents for support due to physical handicap
may be continued beyond the contractual limiting age when which of the following is correct?
A) The child is an inpatient in a healthcare facility.
B) The child becomes a full time student.
C) The child is capable of obtaining coverage on her own.
D) The child is incapable of self sustaining employment.
D) The child is incapable of self sustaining employment.
