MISSISSIPPI INSURANCE TEST COMPLETE QUESTIONS & ANSWERS
(GRADED A).Buy Quality Materials!
What is the MAXIMUM fixed policy loan interest that an insurance company can
charge in Florida?
A) 6%
B) 10%
C) 12%
D) 14%
B) 10%
Agents can help prospective insureds understand and purchase the most
appropriate product by delivering:
A) a disclosure notice.
B) a policy illustration.
C) a buyer's guide.
D) an inspection report.
C) a buyer's guide.
Florida law requires an agent who is recommending to a person the purchase of
an annuity to obtain information regarding all of the following EXCEPT the
persons:
A) tax status.
B) investment objectives.
C) marital status.
D) financial status.
C) marital status.
A fraudulent statement was made in the original application for a health
insurance policy. Under Florida law, if the policy is NOT guaranteed renewable,
what will the company pay in the event of a claim?
A) Nothing.
B) 75% of the claim.
C) 50% of the claim.
D) the full claim.
A) Nothing.
Under Florida insurance law, deceptive advertising is considered a form of:
A) malfeasance.
B) coercion.
C) discrimination.
D) misrepresentation.
D) misrepresentation.
Each person insured under a Group Life insurance policy is:
A) shareholder.
B) beneficiary.
C) certificate holder.
D) policy holder.
C) certificate holder.
,According to Florida statutes, all the following provisions must be contained in a
Medicare Supplement policy EXCEPT:
A) understandable language.
B) a 30-day returnability.
C) an Outline of Coverage.
D) A 12-month limitation on pre-existing conditions.
D) A 12-month limitation on pre-existing conditions.
Long-term care partnership policies provide asset protection if the policyholder
needs to apply for assistance from:
A) Medicaid.
B) Medicare.
C) Medicare Advantage.
D) Medicare Supplement.
A) Medicaid.
An agent's change of business, residence, or email address must be reported to
the Department of Financial Services within:
A) 10 days.
B) 30 days.
C) 45 days.
D) 90 days.
B) 30 days.
Which of the following is a nonprofit provider of life insurance that is covered by
a special section of the Florida insurance code?
A) Fraternal life insurance organizations.
B) Mutual life insurance companies.
C) Domestic mail-order insurance companies.
D) Stock life insurance companies.
A) Fraternal life insurance organizations.
An insurance company that charges different premiums for persons of the same
risk class may be found guilty of:
A) twisting.
B) unfair discrimination.
C) subrogation.
D) controlled business.
B) unfair discrimination.
The grace period for a life insurance policy is never less than:
A) 15 days.
B) 30 days.
C) 45 days.
D) 60 days.
B) 30 days.
A Medicare Supplement insurer may NOT deny any application for a Medicare
Supplement policy submitted:
A) within six months before the applicant reaches the age of 65.
B) within six months after the applicant reaches the age of 65.
, C) anytime before the applicant reaches the age of 65.
D) anytime after the applicant reaches the age of 65.
B) within six months after the applicant reaches the age of 65.
When may a licensed agent represent an unauthorized entity?
A) The agent previously advised the Department of Financial Services (DFS)
B) The unauthorized entity only provides for miscellaneous medical expenses.
C) The unauthorized entity only provides medical services in a specific
geographic area.
D) The agent may never represent an unauthorized entity.
D) The agent may never represent an unauthorized entity.
Which Florida agency has the authority to investigate violations or potential
violations of the Florida financial institutions code?
A) Office of Financial Regulation (OFR).
B) Office of Insurance Regulation (OIR).
C) Department of Financial Services (DFS).
D) Department of Insurance.
C) Department of Financial Services (DFS).
The office of Insurance Regulation is NOT responsible for which of the following?
A) Monitoring the financial condition of insurers.
B) Policing of unauthorized insurance activities.
C) Supervising all state financial institutions.
D) Organizing and licensing of companies.
D) Organizing and licensing of companies.
Which party has the authority to name the beneficiary of a life insurance
contract?
A) The payer.
B) The employer.
C) The beneficiary.
D) The owner.
D) The owner.
The primary recipients of coverage provided by the Florida Healthy Kids
Corporation are school- age children in families with incomes within what
percentage of the federal poverty level?
A) 200%
B) 250%
C) 300%
D) 500%
A) 200%
How many continuing education hours in a law and ethics update course are
required for agents every two years?
A) 6 B) 5 C) 3 D) 1
B) 5
To receive a percentage of the policy face value, an owner of a life policy may sell
the policy to a(n):
A) viatical settlement provider.
B) Insurance company.
(GRADED A).Buy Quality Materials!
What is the MAXIMUM fixed policy loan interest that an insurance company can
charge in Florida?
A) 6%
B) 10%
C) 12%
D) 14%
B) 10%
Agents can help prospective insureds understand and purchase the most
appropriate product by delivering:
A) a disclosure notice.
B) a policy illustration.
C) a buyer's guide.
D) an inspection report.
C) a buyer's guide.
Florida law requires an agent who is recommending to a person the purchase of
an annuity to obtain information regarding all of the following EXCEPT the
persons:
A) tax status.
B) investment objectives.
C) marital status.
D) financial status.
C) marital status.
A fraudulent statement was made in the original application for a health
insurance policy. Under Florida law, if the policy is NOT guaranteed renewable,
what will the company pay in the event of a claim?
A) Nothing.
B) 75% of the claim.
C) 50% of the claim.
D) the full claim.
A) Nothing.
Under Florida insurance law, deceptive advertising is considered a form of:
A) malfeasance.
B) coercion.
C) discrimination.
D) misrepresentation.
D) misrepresentation.
Each person insured under a Group Life insurance policy is:
A) shareholder.
B) beneficiary.
C) certificate holder.
D) policy holder.
C) certificate holder.
,According to Florida statutes, all the following provisions must be contained in a
Medicare Supplement policy EXCEPT:
A) understandable language.
B) a 30-day returnability.
C) an Outline of Coverage.
D) A 12-month limitation on pre-existing conditions.
D) A 12-month limitation on pre-existing conditions.
Long-term care partnership policies provide asset protection if the policyholder
needs to apply for assistance from:
A) Medicaid.
B) Medicare.
C) Medicare Advantage.
D) Medicare Supplement.
A) Medicaid.
An agent's change of business, residence, or email address must be reported to
the Department of Financial Services within:
A) 10 days.
B) 30 days.
C) 45 days.
D) 90 days.
B) 30 days.
Which of the following is a nonprofit provider of life insurance that is covered by
a special section of the Florida insurance code?
A) Fraternal life insurance organizations.
B) Mutual life insurance companies.
C) Domestic mail-order insurance companies.
D) Stock life insurance companies.
A) Fraternal life insurance organizations.
An insurance company that charges different premiums for persons of the same
risk class may be found guilty of:
A) twisting.
B) unfair discrimination.
C) subrogation.
D) controlled business.
B) unfair discrimination.
The grace period for a life insurance policy is never less than:
A) 15 days.
B) 30 days.
C) 45 days.
D) 60 days.
B) 30 days.
A Medicare Supplement insurer may NOT deny any application for a Medicare
Supplement policy submitted:
A) within six months before the applicant reaches the age of 65.
B) within six months after the applicant reaches the age of 65.
, C) anytime before the applicant reaches the age of 65.
D) anytime after the applicant reaches the age of 65.
B) within six months after the applicant reaches the age of 65.
When may a licensed agent represent an unauthorized entity?
A) The agent previously advised the Department of Financial Services (DFS)
B) The unauthorized entity only provides for miscellaneous medical expenses.
C) The unauthorized entity only provides medical services in a specific
geographic area.
D) The agent may never represent an unauthorized entity.
D) The agent may never represent an unauthorized entity.
Which Florida agency has the authority to investigate violations or potential
violations of the Florida financial institutions code?
A) Office of Financial Regulation (OFR).
B) Office of Insurance Regulation (OIR).
C) Department of Financial Services (DFS).
D) Department of Insurance.
C) Department of Financial Services (DFS).
The office of Insurance Regulation is NOT responsible for which of the following?
A) Monitoring the financial condition of insurers.
B) Policing of unauthorized insurance activities.
C) Supervising all state financial institutions.
D) Organizing and licensing of companies.
D) Organizing and licensing of companies.
Which party has the authority to name the beneficiary of a life insurance
contract?
A) The payer.
B) The employer.
C) The beneficiary.
D) The owner.
D) The owner.
The primary recipients of coverage provided by the Florida Healthy Kids
Corporation are school- age children in families with incomes within what
percentage of the federal poverty level?
A) 200%
B) 250%
C) 300%
D) 500%
A) 200%
How many continuing education hours in a law and ethics update course are
required for agents every two years?
A) 6 B) 5 C) 3 D) 1
B) 5
To receive a percentage of the policy face value, an owner of a life policy may sell
the policy to a(n):
A) viatical settlement provider.
B) Insurance company.
