EXAM SIMULATOR FLORIDA-LIFE & HEALTH / FL
HEALTH & LIFE AND ANNUITY COMPLETE STUDY
GUIDE (SOURCE Xcel solutions – Pearson) 400+
ACTUAL TEST QUESTIONS WITH DETAILED VERIFIED
ANSWERS / ALREADY GRADED A
Which of the following statements about guaranteed renewable health
insurance policy is correct? - ✔✔ANSW✔✔Premiums normally increase
at the time of renewal.
The issuer must provide a perspective buyer with an? -
✔✔ANSW✔✔Buyers guide and policy summary
T would like to be assured $10,000 is available in 10 years to replace a
roof on his house. What kind of $10,000 policy should T purchase? -
✔✔ANSW✔✔Ten-year Endowment
According to the time payment of claims provision, the insurer must pay
disability income benefits no less frequently then which of the following
options? - ✔✔ANSW✔✔Monthly
Which of the following is the most important factor when deciding how
much disability income coverage an applicant should purchase? -
✔✔ANSW✔✔Applicants monthly income
Which two entitles regulate variable annuities? -
✔✔ANSW✔✔Department of Financial Services; Securities Exchange
Commission.
,The amount of coverage on a group life policy is limited to? -
✔✔ANSW✔✔The insured's total loan value
The provision that can be used to put on insurance policy back in force
after it has lapsed due to nonpayment is called? -
✔✔ANSW✔✔Reinstatement
Which product would best serve a retired individual looking to invest a
lump-sum of money through an insurance company? -
✔✔ANSW✔✔Annuity
According to Florida law, a group life insurance policy requires a minimum
how many insureds? - ✔✔ANSW✔✔No minimum
Multiple employer welfare arrangement (MEWA) provides what type of
benefits? - ✔✔ANSW✔✔Insurance
In a qualified retirement plan, the yearly contributions to an employee's
account? - ✔✔ANSW✔✔Are restricted to maximum level set by the IRS
All of the following entries are classified under the four principal areas of
Florida insurance law except? - ✔✔ANSW✔✔An agent's commission
According to Florida's life insurance replacement law, about policyowner
must be provided with the written comparison and summary statement
when it's required by? - ✔✔ANSW✔✔The policyowner
On delivery of policy, a signed statement of good health is typically
request if? - ✔✔ANSW✔✔The application was submitted without the
initial premium.
,K is the insured and P is the sole beneficiary on an accidental death and
dismemberment insurance policy. Both are involved in a fatal accident
where K dies before P. Under the common disaster provision, which of
these statements is true? - ✔✔ANSW✔✔Proceeds will be paid to P's
estate
An insured is past due on his life insurance premium but is still within the
grace period. What will the beneficiary receive if the insured dies during
the grace period.? - ✔✔ANSW✔✔Full face amount minus any past due
premiums
A business overhead expens policy would cover which of the following if a
business owner becomes disabled? - ✔✔ANSW✔✔Utilities and office
rent
Employers with less then —— employees are affected by Florida health
insurance coverage continuation act (Mini COBRA)? - ✔✔ANSW✔✔20
S is employer by large corporation that provides group health coverage for
its employees and their dependents. If S dies, The company must allow
his surviving spouse and dependents to continue their group health
coverage for a maximum of how many months on the cobra regulations? -
✔✔ANSW✔✔36 months (under COBRA)
J is an agent who recently told a claimant that his rights might be impaired
if he does not complete a release form within a specified time. What could
this agent be found guilty of? - ✔✔ANSW✔✔Coercion
An employer that offers a qualified retirement plan to its employees is
eligible to? - ✔✔ANSW✔✔Make tax-deductible contribution to the plan
, Which of the following employees may not be excluded from the group life
plan? - ✔✔ANSW✔✔Full-time employees after the probation period.
When is the face amount of a whole life policy paid? - ✔✔ANSW✔✔When
the insured dies or at the policies maturity date whichever happens first.
Major medical policies typically? - ✔✔ANSW✔✔Contain deductible and
coinsurance
Which of the following provisions is not required in HMO contracts
certificates? - ✔✔ANSW✔✔Seven-day grace period
The health insurance program which is administrated by each state and
founded by both the federal and state government is called? -
✔✔ANSW✔✔Madicaid
On insured pays premium on an annual basis for an individual health
insurance policy. What is the minimum number of days for the grace
period Provision? - ✔✔ANSW✔✔31
Upon reaching the limiting age, a handicapped child can extend their
health insurance coverage as a dependent? - ✔✔ANSW✔✔Only if the
child is incapable of employment and chiefly depend on the policy owner
P is producer who notice five questions on the life application where not
answer. What action would P take? - ✔✔ANSW✔✔Set up meeting with
the applicant to answer the remaining questions
K becomes ill after traveling overseas and is unable to work for three
months, what kind of policy would cover her loss of income? -
✔✔ANSW✔✔Disability income
HEALTH & LIFE AND ANNUITY COMPLETE STUDY
GUIDE (SOURCE Xcel solutions – Pearson) 400+
ACTUAL TEST QUESTIONS WITH DETAILED VERIFIED
ANSWERS / ALREADY GRADED A
Which of the following statements about guaranteed renewable health
insurance policy is correct? - ✔✔ANSW✔✔Premiums normally increase
at the time of renewal.
The issuer must provide a perspective buyer with an? -
✔✔ANSW✔✔Buyers guide and policy summary
T would like to be assured $10,000 is available in 10 years to replace a
roof on his house. What kind of $10,000 policy should T purchase? -
✔✔ANSW✔✔Ten-year Endowment
According to the time payment of claims provision, the insurer must pay
disability income benefits no less frequently then which of the following
options? - ✔✔ANSW✔✔Monthly
Which of the following is the most important factor when deciding how
much disability income coverage an applicant should purchase? -
✔✔ANSW✔✔Applicants monthly income
Which two entitles regulate variable annuities? -
✔✔ANSW✔✔Department of Financial Services; Securities Exchange
Commission.
,The amount of coverage on a group life policy is limited to? -
✔✔ANSW✔✔The insured's total loan value
The provision that can be used to put on insurance policy back in force
after it has lapsed due to nonpayment is called? -
✔✔ANSW✔✔Reinstatement
Which product would best serve a retired individual looking to invest a
lump-sum of money through an insurance company? -
✔✔ANSW✔✔Annuity
According to Florida law, a group life insurance policy requires a minimum
how many insureds? - ✔✔ANSW✔✔No minimum
Multiple employer welfare arrangement (MEWA) provides what type of
benefits? - ✔✔ANSW✔✔Insurance
In a qualified retirement plan, the yearly contributions to an employee's
account? - ✔✔ANSW✔✔Are restricted to maximum level set by the IRS
All of the following entries are classified under the four principal areas of
Florida insurance law except? - ✔✔ANSW✔✔An agent's commission
According to Florida's life insurance replacement law, about policyowner
must be provided with the written comparison and summary statement
when it's required by? - ✔✔ANSW✔✔The policyowner
On delivery of policy, a signed statement of good health is typically
request if? - ✔✔ANSW✔✔The application was submitted without the
initial premium.
,K is the insured and P is the sole beneficiary on an accidental death and
dismemberment insurance policy. Both are involved in a fatal accident
where K dies before P. Under the common disaster provision, which of
these statements is true? - ✔✔ANSW✔✔Proceeds will be paid to P's
estate
An insured is past due on his life insurance premium but is still within the
grace period. What will the beneficiary receive if the insured dies during
the grace period.? - ✔✔ANSW✔✔Full face amount minus any past due
premiums
A business overhead expens policy would cover which of the following if a
business owner becomes disabled? - ✔✔ANSW✔✔Utilities and office
rent
Employers with less then —— employees are affected by Florida health
insurance coverage continuation act (Mini COBRA)? - ✔✔ANSW✔✔20
S is employer by large corporation that provides group health coverage for
its employees and their dependents. If S dies, The company must allow
his surviving spouse and dependents to continue their group health
coverage for a maximum of how many months on the cobra regulations? -
✔✔ANSW✔✔36 months (under COBRA)
J is an agent who recently told a claimant that his rights might be impaired
if he does not complete a release form within a specified time. What could
this agent be found guilty of? - ✔✔ANSW✔✔Coercion
An employer that offers a qualified retirement plan to its employees is
eligible to? - ✔✔ANSW✔✔Make tax-deductible contribution to the plan
, Which of the following employees may not be excluded from the group life
plan? - ✔✔ANSW✔✔Full-time employees after the probation period.
When is the face amount of a whole life policy paid? - ✔✔ANSW✔✔When
the insured dies or at the policies maturity date whichever happens first.
Major medical policies typically? - ✔✔ANSW✔✔Contain deductible and
coinsurance
Which of the following provisions is not required in HMO contracts
certificates? - ✔✔ANSW✔✔Seven-day grace period
The health insurance program which is administrated by each state and
founded by both the federal and state government is called? -
✔✔ANSW✔✔Madicaid
On insured pays premium on an annual basis for an individual health
insurance policy. What is the minimum number of days for the grace
period Provision? - ✔✔ANSW✔✔31
Upon reaching the limiting age, a handicapped child can extend their
health insurance coverage as a dependent? - ✔✔ANSW✔✔Only if the
child is incapable of employment and chiefly depend on the policy owner
P is producer who notice five questions on the life application where not
answer. What action would P take? - ✔✔ANSW✔✔Set up meeting with
the applicant to answer the remaining questions
K becomes ill after traveling overseas and is unable to work for three
months, what kind of policy would cover her loss of income? -
✔✔ANSW✔✔Disability income
