EXAM SIMULATOR FLORIDA-LIFE &
HEALTH / FL HEALTH & LIFE AND
ANNUITY WITH QUESTIONS AND
ANSWERS
What is the primary feature of a viatical settlement - Answers>>>>Reduced
death benefit prepayment
What happens when an insurance policy is backdated - Answers>>>>The
policy's effective date is earlier than the present
Kristi purchases an annuity that will pay her husband an income for 15
years. If he dies, this income will become payable to their children for the
remainder of the period. Kristi has what kind of annuity? -
Answers>>>>Temporary annuity certain
Kim has health insurance with a deductible of $500 and an 80/20
coinsurance. How much will she pay if she incurs a loss of $1,500? -
Answers>>>>$700
In this situation, the insured will pay $500 deductible plus $200 coinsurance
= $700.
A Medicare supplement basic benefit is - Answers>>>>the first 3 pints of
blood per year
Which type of plan would be most appropriate for an individual on Medicare
and is concerned that Medicare will NOT pay for charges exceeding the
approved amount - Answers>>>>Medicare supplement Plan F
,In contrast to a guaranteed renewable policy, a noncancellable policy -
Answers>>>>may never raise premiums
A Life insurance policy which contains cash values that vary according to
its investment performance of stocks is called - Answers>>>>Variable
Whole Life
An insurer will accept a premium from the insured and continue the
coverage in full force as though it was NOT late during which time period?
Incontestable period
Probation period
Reinstatement period
Grace period - Answers>>>>Grace period
The grace period is the amount of time an insurer continues coverage in full
force and will accept the premium from the insured as though it was NOT
late.
An agent's license has been suspended for non-renewal the agent may
apply for reinstatement - Answers>>>>Within 12 months of the license
renewal date
The legal action provision in a health contract is limited to no more than
___ years. - Answers>>>>5 years
, Insurance premium is determined by each of the following factors EXCEPT
- Answers>>>>Liquidity
Which of the following is considered to be the period when the accumulated
value in an annuity is paid out - Answers>>>>Annuitization phase
Which of these is NOT considered a form of life insurance advertisement -
Answers>>>>Buyers guide
What would happen if a life insurance applicant is given a conditional
receipt from an insurance agent and then dies the next day -
Answers>>>>Claim will be paid if application is approved
Insurance company needs to obtain personal information from a third-party
concerning an applicant. Which law do all insurers and their producers
need to comply with - Answers>>>>Fair Credit Reporting Act
All of these are responsibilities of the Superintendent EXCEPT -
Answers>>>>Endorsing insurers
Which type of business insurance is meant to cover the costs of continuing
to do business while the owner is disabled - Answers>>>>Business
overhead expense policy
And interest-sensitive life insurance policyowner may be able to withdraw
the policy's cash value interest free. The provision that allows this is called
- Answers>>>>Partial surrender
Waiver of premium rider allows an insured to waive premium payments if
the insured is - Answers>>>>completely and permanently disabled
HEALTH / FL HEALTH & LIFE AND
ANNUITY WITH QUESTIONS AND
ANSWERS
What is the primary feature of a viatical settlement - Answers>>>>Reduced
death benefit prepayment
What happens when an insurance policy is backdated - Answers>>>>The
policy's effective date is earlier than the present
Kristi purchases an annuity that will pay her husband an income for 15
years. If he dies, this income will become payable to their children for the
remainder of the period. Kristi has what kind of annuity? -
Answers>>>>Temporary annuity certain
Kim has health insurance with a deductible of $500 and an 80/20
coinsurance. How much will she pay if she incurs a loss of $1,500? -
Answers>>>>$700
In this situation, the insured will pay $500 deductible plus $200 coinsurance
= $700.
A Medicare supplement basic benefit is - Answers>>>>the first 3 pints of
blood per year
Which type of plan would be most appropriate for an individual on Medicare
and is concerned that Medicare will NOT pay for charges exceeding the
approved amount - Answers>>>>Medicare supplement Plan F
,In contrast to a guaranteed renewable policy, a noncancellable policy -
Answers>>>>may never raise premiums
A Life insurance policy which contains cash values that vary according to
its investment performance of stocks is called - Answers>>>>Variable
Whole Life
An insurer will accept a premium from the insured and continue the
coverage in full force as though it was NOT late during which time period?
Incontestable period
Probation period
Reinstatement period
Grace period - Answers>>>>Grace period
The grace period is the amount of time an insurer continues coverage in full
force and will accept the premium from the insured as though it was NOT
late.
An agent's license has been suspended for non-renewal the agent may
apply for reinstatement - Answers>>>>Within 12 months of the license
renewal date
The legal action provision in a health contract is limited to no more than
___ years. - Answers>>>>5 years
, Insurance premium is determined by each of the following factors EXCEPT
- Answers>>>>Liquidity
Which of the following is considered to be the period when the accumulated
value in an annuity is paid out - Answers>>>>Annuitization phase
Which of these is NOT considered a form of life insurance advertisement -
Answers>>>>Buyers guide
What would happen if a life insurance applicant is given a conditional
receipt from an insurance agent and then dies the next day -
Answers>>>>Claim will be paid if application is approved
Insurance company needs to obtain personal information from a third-party
concerning an applicant. Which law do all insurers and their producers
need to comply with - Answers>>>>Fair Credit Reporting Act
All of these are responsibilities of the Superintendent EXCEPT -
Answers>>>>Endorsing insurers
Which type of business insurance is meant to cover the costs of continuing
to do business while the owner is disabled - Answers>>>>Business
overhead expense policy
And interest-sensitive life insurance policyowner may be able to withdraw
the policy's cash value interest free. The provision that allows this is called
- Answers>>>>Partial surrender
Waiver of premium rider allows an insured to waive premium payments if
the insured is - Answers>>>>completely and permanently disabled
