Florida 2-15 Insurance License Exam test
Allpass questions with correctly solved
solutions
____ health plans are designed to help the insured pay off a loan in the event he
or she is disabled due to an accident or sickness. - ANSWER>>Credit accident
All statements made on an application are considered ____ because there can be
no guarantee that they are true. - ANSWER>>Representations
Group health Plans that are issued by mutual companies usually: -
ANSWER>>Provide for dividens
With a Roth IRA, the contributory funds are taxed as income ____ the
contributions are made. - ANSWER>>Before
Which of the following does NOT describe one of the ways in which insurable
interest can be established? - ANSWER>>Sympathy for a neighbor
Medicare was approved in: - ANSWER>>The 1960's
Protection against the unintentional lapse of a life insurance policy is afforded
through what means? - ANSWER>>Automatic Loan Provision
Annuity payment amounts are based upon which of the following factors? -
ANSWER>>Starting principal, interest, and income period
The Statue of Limitations states that if a lawsuit is to be filed, it must be brought
within 5 years after Proof of Loss is furnished to the insurance company. -
ANSWER>>Five
,"Capitation" as used by HMOs means: - ANSWER>>The mount an HMO pays to a
physician or provider in exchange for a rendered medical services.
Accumulation units are converted into annuity units: - ANSWER>>At the time of
annuity payout
Florida's Replacement Rule sets forth the requirements and procedures to be
followed by the insurance companies and insurance producers when a proposal is
being made to a client who plans to replace an existing life insurance contract
with: - ANSWER>>A proposed new life insurance policy
The ____ annuity option provides a guaranteed income to the annuitant for life
and if the insured dies prematurely, the balance of the principal is paid out in a
lump sum to the annuitant's beneficiary. - ANSWER>>Cash refund
Group AD&D plans normally do not contain conversion privilege's. -
ANSWER>>TRUE
An objective of the NAIC is to: - ANSWER>>Encourage uniformity in state
insurance laws and regulations.
level, decreasing, and increasing insurance are all basic forms of ____ insurance. -
ANSWER>>Term
In a disability insurance policy, the definition of total disability: - ANSWER>>Varies
depending upon the insurer
In a disability income policy, the waiver of premium rider will allow the insured to
cease paying policy premiums once the insured has been totally disabled for a
typical period of: - ANSWER>>3-6 Months
,Depending upon the contract, annuity payments can begin immediately or they
can be deferred to a future date. The investment configuration: - ANSWER>>Can
be either fixed or a variable rate of return
An annuity must begin with a sum of money that can either be supplied through
the single payment method or the periodic payment method. If the periodic
payment method is used, the payment amount: - ANSWER>>Can be either fixed
or flexible
In order for an HMO to conduct business in Florida, it must obtain a valid Health
Care Provider Certificate from the: - ANSWER>>Agency for Health care
Administration
Which of the following is not a benefit to key person insurance? -
ANSWER>>Wage Control
Under which health policy renewability provision can an insurer cancel the
contract on a previously designated date and raise rates by class? -
ANSWER>>Optionally renewable
FIGA is the acronym for: - ANSWER>>Florida Insurance Guaranty Association
Of the following, who would most likely pay a lower premium amount? -
ANSWER>>A preferred risk client
A prospectus for an individual variable insurance contract: - ANSWER>>Must
accompany every sales presentation
What is the minimum number of members required for a group life insurance
policy in the State of Florida? - ANSWER>>There is no minimum
, Barbra cashed in her 401k to purchase an annuity that will pay her $500 a month
beginning right away for the rest of her life. This is a(n) ___ annuity. -
ANSWER>>Single Premium immediate
The notice of claim provision in health insurance policy mandates that the insured
provide written notice to the insurance company within a maximum of ____ days
after incurring a covered loss. - ANSWER>>20
The disadvantage of naming an estate as beneficiary is that the proceeds will be
included in the insured's: - ANSWER>>Estate
In Florida, a ____must sign for and on behalf of a minor purchasing life insurance.
- ANSWER>>Parent or legal guradian
When a life insurance policy is reinstated after lapse any back premiums must be
paid before reinstatement becomes effective. - ANSWER>>TRUE
Which of the following statements about HMOs is correct? - ANSWER>>ALL-
HMOs stress preventative care, rarely assess deductibles, and provide coverage
for routine doctor visits and hospital care.
"Small businesses" usually operate as sole proprietorships. - ANSWER>>TRUE
To transact insurance business, the agent must have ____ authority. -
ANSWER>>Express, apparent, or implied
On a reinstated heath policy when no new application is requested, how long
after the policy's reinstatement will coverage for accidents become effective? -
ANSWER>>Immediately
AD&D is the purest structure of accident insurance. - ANSWER>>TRUE
Allpass questions with correctly solved
solutions
____ health plans are designed to help the insured pay off a loan in the event he
or she is disabled due to an accident or sickness. - ANSWER>>Credit accident
All statements made on an application are considered ____ because there can be
no guarantee that they are true. - ANSWER>>Representations
Group health Plans that are issued by mutual companies usually: -
ANSWER>>Provide for dividens
With a Roth IRA, the contributory funds are taxed as income ____ the
contributions are made. - ANSWER>>Before
Which of the following does NOT describe one of the ways in which insurable
interest can be established? - ANSWER>>Sympathy for a neighbor
Medicare was approved in: - ANSWER>>The 1960's
Protection against the unintentional lapse of a life insurance policy is afforded
through what means? - ANSWER>>Automatic Loan Provision
Annuity payment amounts are based upon which of the following factors? -
ANSWER>>Starting principal, interest, and income period
The Statue of Limitations states that if a lawsuit is to be filed, it must be brought
within 5 years after Proof of Loss is furnished to the insurance company. -
ANSWER>>Five
,"Capitation" as used by HMOs means: - ANSWER>>The mount an HMO pays to a
physician or provider in exchange for a rendered medical services.
Accumulation units are converted into annuity units: - ANSWER>>At the time of
annuity payout
Florida's Replacement Rule sets forth the requirements and procedures to be
followed by the insurance companies and insurance producers when a proposal is
being made to a client who plans to replace an existing life insurance contract
with: - ANSWER>>A proposed new life insurance policy
The ____ annuity option provides a guaranteed income to the annuitant for life
and if the insured dies prematurely, the balance of the principal is paid out in a
lump sum to the annuitant's beneficiary. - ANSWER>>Cash refund
Group AD&D plans normally do not contain conversion privilege's. -
ANSWER>>TRUE
An objective of the NAIC is to: - ANSWER>>Encourage uniformity in state
insurance laws and regulations.
level, decreasing, and increasing insurance are all basic forms of ____ insurance. -
ANSWER>>Term
In a disability insurance policy, the definition of total disability: - ANSWER>>Varies
depending upon the insurer
In a disability income policy, the waiver of premium rider will allow the insured to
cease paying policy premiums once the insured has been totally disabled for a
typical period of: - ANSWER>>3-6 Months
,Depending upon the contract, annuity payments can begin immediately or they
can be deferred to a future date. The investment configuration: - ANSWER>>Can
be either fixed or a variable rate of return
An annuity must begin with a sum of money that can either be supplied through
the single payment method or the periodic payment method. If the periodic
payment method is used, the payment amount: - ANSWER>>Can be either fixed
or flexible
In order for an HMO to conduct business in Florida, it must obtain a valid Health
Care Provider Certificate from the: - ANSWER>>Agency for Health care
Administration
Which of the following is not a benefit to key person insurance? -
ANSWER>>Wage Control
Under which health policy renewability provision can an insurer cancel the
contract on a previously designated date and raise rates by class? -
ANSWER>>Optionally renewable
FIGA is the acronym for: - ANSWER>>Florida Insurance Guaranty Association
Of the following, who would most likely pay a lower premium amount? -
ANSWER>>A preferred risk client
A prospectus for an individual variable insurance contract: - ANSWER>>Must
accompany every sales presentation
What is the minimum number of members required for a group life insurance
policy in the State of Florida? - ANSWER>>There is no minimum
, Barbra cashed in her 401k to purchase an annuity that will pay her $500 a month
beginning right away for the rest of her life. This is a(n) ___ annuity. -
ANSWER>>Single Premium immediate
The notice of claim provision in health insurance policy mandates that the insured
provide written notice to the insurance company within a maximum of ____ days
after incurring a covered loss. - ANSWER>>20
The disadvantage of naming an estate as beneficiary is that the proceeds will be
included in the insured's: - ANSWER>>Estate
In Florida, a ____must sign for and on behalf of a minor purchasing life insurance.
- ANSWER>>Parent or legal guradian
When a life insurance policy is reinstated after lapse any back premiums must be
paid before reinstatement becomes effective. - ANSWER>>TRUE
Which of the following statements about HMOs is correct? - ANSWER>>ALL-
HMOs stress preventative care, rarely assess deductibles, and provide coverage
for routine doctor visits and hospital care.
"Small businesses" usually operate as sole proprietorships. - ANSWER>>TRUE
To transact insurance business, the agent must have ____ authority. -
ANSWER>>Express, apparent, or implied
On a reinstated heath policy when no new application is requested, how long
after the policy's reinstatement will coverage for accidents become effective? -
ANSWER>>Immediately
AD&D is the purest structure of accident insurance. - ANSWER>>TRUE
