FLORIDA INSURANCE EXAM QUESTIONS
WITH COMPLETE ANSWERS
The clause identifying which losses resulting from an accident or sickness are
insured by the policy is called the: - cORRECT sOLUTION Insuring clause
K applies for a life insurance policy on herself and submits the initial premium
with the application. She is given a receipt by the agent stating that coverage
begins immediately if the application is approved. What kind of receipt was used?
- cORRECT sOLUTION Conditional
A life insurance arrangement which circumvents insurable interest statutes is
called: - cORRECT sOLUTION Investor-Originated Life Insurance
Which of the following health policy provisions states that the producer does NOT
have the authority to change the policy or waive any of its provisions? - cORRECT
sOLUTION Entire Contract
Within how many days after policy delivery can a Medicare Supplement policy be
returned for a 100% premium refund? - cORRECT sOLUTION 30
Which of the following is NOT an unfair claim settlement practice? - cORRECT
sOLUTION Needing written documentation of claim details
Who is NOT required to sign a life insurance application? - cORRECT
sOLUTION Beneficiary
,To be eligible for Social Security disability benefits, an employee must be unable
to perform: - cORRECT sOLUTION any occupation
The type of annuity that can be purchased with one monetary deposit is called a(n):
- cORRECT sOLUTION Immediate annuity
A life insurance application must be signed by all of these, EXCEPT: - cORRECT
sOLUTION beneficiary
Which of the following is considered an accurate statement of an unfair trade
practice? - cORRECT sOLUTION Twisting involves an agent using
misrepresentation to convince a policyowner to cancel their current policy so that
they can purchase a new life insurance policy with another company
The Accelerated Death Benefit provision in a life insurance policy is also known as
a(n): - cORRECT sOLUTION Living Benefit
Which of the following policy features allows an insured to defer current health
charges to the following year's deductible instead of the current year's deducitble? -
cORRECT sOLUTION Carryover provision
Insurance policies are considered aleatory contracts because - cORRECT
sOLUTION performance is conditioned upon a future occurrence
, Within how many days must a licensee notify the Department of Financial
Services of a change in address? - cORRECT sOLUTION 30
Which organization was established to provide funds to protect an insured in the
event of an insurer's insolvency? - cORRECT sOLUTION Florida Life and Health
Insurance Guaranty Association
The clause in an Accident and Health policy which defines the benefit amounts the
insurer will pay is called the: - cORRECT sOLUTION Insuring clause
When a policyowner cash surrenders a Universal Life insurance policy in it's early
years, this may be considered a red flag for a(n): - cORRECT sOLUTION Anti-
Money Laundering violation
According to the Time Payment of Claims provision, the insurer must pay
Disability Income benefits no less frequently than which of the following options?
- cORRECT sOLUTION Monthly
What would the Medical Information Bureau (MIB) identify? - cORRECT
sOLUTION Testing positive for marijuana use from a previous screening
How would a contingent beneficiary receive the policy proceeds in an Accidental
Death and Dismemberment (AD&D) policy? - cORRECT sOLUTION If the
primary beneficiary dies before the insured
WITH COMPLETE ANSWERS
The clause identifying which losses resulting from an accident or sickness are
insured by the policy is called the: - cORRECT sOLUTION Insuring clause
K applies for a life insurance policy on herself and submits the initial premium
with the application. She is given a receipt by the agent stating that coverage
begins immediately if the application is approved. What kind of receipt was used?
- cORRECT sOLUTION Conditional
A life insurance arrangement which circumvents insurable interest statutes is
called: - cORRECT sOLUTION Investor-Originated Life Insurance
Which of the following health policy provisions states that the producer does NOT
have the authority to change the policy or waive any of its provisions? - cORRECT
sOLUTION Entire Contract
Within how many days after policy delivery can a Medicare Supplement policy be
returned for a 100% premium refund? - cORRECT sOLUTION 30
Which of the following is NOT an unfair claim settlement practice? - cORRECT
sOLUTION Needing written documentation of claim details
Who is NOT required to sign a life insurance application? - cORRECT
sOLUTION Beneficiary
,To be eligible for Social Security disability benefits, an employee must be unable
to perform: - cORRECT sOLUTION any occupation
The type of annuity that can be purchased with one monetary deposit is called a(n):
- cORRECT sOLUTION Immediate annuity
A life insurance application must be signed by all of these, EXCEPT: - cORRECT
sOLUTION beneficiary
Which of the following is considered an accurate statement of an unfair trade
practice? - cORRECT sOLUTION Twisting involves an agent using
misrepresentation to convince a policyowner to cancel their current policy so that
they can purchase a new life insurance policy with another company
The Accelerated Death Benefit provision in a life insurance policy is also known as
a(n): - cORRECT sOLUTION Living Benefit
Which of the following policy features allows an insured to defer current health
charges to the following year's deductible instead of the current year's deducitble? -
cORRECT sOLUTION Carryover provision
Insurance policies are considered aleatory contracts because - cORRECT
sOLUTION performance is conditioned upon a future occurrence
, Within how many days must a licensee notify the Department of Financial
Services of a change in address? - cORRECT sOLUTION 30
Which organization was established to provide funds to protect an insured in the
event of an insurer's insolvency? - cORRECT sOLUTION Florida Life and Health
Insurance Guaranty Association
The clause in an Accident and Health policy which defines the benefit amounts the
insurer will pay is called the: - cORRECT sOLUTION Insuring clause
When a policyowner cash surrenders a Universal Life insurance policy in it's early
years, this may be considered a red flag for a(n): - cORRECT sOLUTION Anti-
Money Laundering violation
According to the Time Payment of Claims provision, the insurer must pay
Disability Income benefits no less frequently than which of the following options?
- cORRECT sOLUTION Monthly
What would the Medical Information Bureau (MIB) identify? - cORRECT
sOLUTION Testing positive for marijuana use from a previous screening
How would a contingent beneficiary receive the policy proceeds in an Accidental
Death and Dismemberment (AD&D) policy? - cORRECT sOLUTION If the
primary beneficiary dies before the insured
