BUSINESS INSURANCE XCEL 2-15 LIFE &
HEALTH STATE EXAM REVISION STUDY
QUESTIONS AND ACCURATE SOLUTIONS
FLORIDA STATE UNIVERSITY.
J let her life insurance policy lapse 8 months ago due to nonpayment. She can
reestablish coverage under which of the following provisions?
reinstatement provision
which of the following is not required in the outline of a coverage for a health
insurance policy
projection of the policy’s future costs
Which of these actions is taken when a policy owner uses a Life Insurance
policy as collateral for a bank loan?
collateral assignment
employers with less than _______ employees are affected by floridas health
insurance coverage continuation act (mini cobra)
20
what does the insuring agreement in a life insurance contract establish
an insurers basic promise
what is the maximum number of employees (earning at least 5000) that an
employer can have in order to start a SIMPLE retirement plan
100
an agent selling medicare supplement policies must provide every applicant
with a(n)
suitability form
in florida, an insurer domiciled and incorporated in this state is called a(n)
,domestic company
the coordination of benefits (cob) provision exists in order to
avoid duplication of benefit payments
according to floridas life insurance replacement laws, a policyowner must be
provided with a written comparison and summary statement when its requested
by
the policyowner
what group term life feature permits an individual to depart from the group and
continue to be covered without providing evidence of insurability
conversion
an agents license can be suspended or revoked by
writing primarily controlled business
the policy summary contains specific information on all of the following except
commission
T owns an Accident & Health policy and notifies her insurance company that
she has chosen a less hazardous occupation. Under the Change of Occupation
provision, which of the following actions may her insurance company take?
increase her policys coverage amount
according to florida law, an additional lapse notice must be issued after the
standard grace period has expired for policyowners age
64 years or older
J is issued a Life Insurance policy with a death benefit of $100,000. She pays
$600 per year in premium for the first 5 years. The premium then increases to
$900 per year in the sixth year, and remains level thereafter. The policy's death
benefit also remains at $100,000. Which type of Life Insurance policy is this?
modified premium life
which of the following statements describes what an accident and health
policyowner may not do
, adjust the premium payments
T applies for a life insurance policy and is told by the producer that the insurer
is bound to the coverage as of the date of the application or medical
examination, whichever is later. Assuming that T is an acceptable risk, what
item is given to T?
conditional receipt
an insurer must provide an insured with claim forms within _____ days after
receiving notice of a loss
15
which of the following provisions guarantees that premiums will be waived if a
juvenile life policyowner becomes disabled?
payor clause
What does a Guaranteed Insurability rider provide a Disability Income
policyowner?
the ability to periodically increase the amount of coverage without evidence of
insurability
K becomes ill after traveling overseas and is unable to work for 3 months. What
kind of policy would cover her loss of income?
disability income
which of these statements accurately describes the waiver of premium provision
in an accident and health policy
premiums are waived after the insured has been totally disabled for a specified
time period
which of the following is considered an element of a variable life policy
underlying equity investment
which of the following are not managed care organizations
medical information bureau (mib)
which of the following factors is not considered when the department of
financial services determines if an agents home is an insurance agency
HEALTH STATE EXAM REVISION STUDY
QUESTIONS AND ACCURATE SOLUTIONS
FLORIDA STATE UNIVERSITY.
J let her life insurance policy lapse 8 months ago due to nonpayment. She can
reestablish coverage under which of the following provisions?
reinstatement provision
which of the following is not required in the outline of a coverage for a health
insurance policy
projection of the policy’s future costs
Which of these actions is taken when a policy owner uses a Life Insurance
policy as collateral for a bank loan?
collateral assignment
employers with less than _______ employees are affected by floridas health
insurance coverage continuation act (mini cobra)
20
what does the insuring agreement in a life insurance contract establish
an insurers basic promise
what is the maximum number of employees (earning at least 5000) that an
employer can have in order to start a SIMPLE retirement plan
100
an agent selling medicare supplement policies must provide every applicant
with a(n)
suitability form
in florida, an insurer domiciled and incorporated in this state is called a(n)
,domestic company
the coordination of benefits (cob) provision exists in order to
avoid duplication of benefit payments
according to floridas life insurance replacement laws, a policyowner must be
provided with a written comparison and summary statement when its requested
by
the policyowner
what group term life feature permits an individual to depart from the group and
continue to be covered without providing evidence of insurability
conversion
an agents license can be suspended or revoked by
writing primarily controlled business
the policy summary contains specific information on all of the following except
commission
T owns an Accident & Health policy and notifies her insurance company that
she has chosen a less hazardous occupation. Under the Change of Occupation
provision, which of the following actions may her insurance company take?
increase her policys coverage amount
according to florida law, an additional lapse notice must be issued after the
standard grace period has expired for policyowners age
64 years or older
J is issued a Life Insurance policy with a death benefit of $100,000. She pays
$600 per year in premium for the first 5 years. The premium then increases to
$900 per year in the sixth year, and remains level thereafter. The policy's death
benefit also remains at $100,000. Which type of Life Insurance policy is this?
modified premium life
which of the following statements describes what an accident and health
policyowner may not do
, adjust the premium payments
T applies for a life insurance policy and is told by the producer that the insurer
is bound to the coverage as of the date of the application or medical
examination, whichever is later. Assuming that T is an acceptable risk, what
item is given to T?
conditional receipt
an insurer must provide an insured with claim forms within _____ days after
receiving notice of a loss
15
which of the following provisions guarantees that premiums will be waived if a
juvenile life policyowner becomes disabled?
payor clause
What does a Guaranteed Insurability rider provide a Disability Income
policyowner?
the ability to periodically increase the amount of coverage without evidence of
insurability
K becomes ill after traveling overseas and is unable to work for 3 months. What
kind of policy would cover her loss of income?
disability income
which of these statements accurately describes the waiver of premium provision
in an accident and health policy
premiums are waived after the insured has been totally disabled for a specified
time period
which of the following is considered an element of a variable life policy
underlying equity investment
which of the following are not managed care organizations
medical information bureau (mib)
which of the following factors is not considered when the department of
financial services determines if an agents home is an insurance agency
