Florida Health and Life Insurance Exam
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1. According to Mandatory Uniform Policy Provisions, what is the maximum
amount of time after the premium due date during which the policy remains
in force even though the premium has not been paid?: 31 days
2. G purchased a Family Income policy at age 40. The policy has a 20-year
rider period. If G were to die at age 50, how long would G's family receive an
income?: 10 years
3. E and F are business partners. Each takes out a $500,000 life insurance
policy on the other, naming himself as primary beneficiary. E and F eventually
terminate their business, and four months later E dies. Although E was married
with three children at the time of death, the primary beneficiary is still F.
However, an insurable interest no longer exists. Where will the proceeds from
E's life insurance policy be directed to?: F
4. The Health Insurance Portability and Accountability Act (HIPAA) gives pri-
vacy protection for:: health information
5. What do Dread Disease policies cover?: A specific disease or illness
6. When an insurance application is taken by a producer, which of these
statements is true?: Any changes made on the application require the applicant's
initials
7. A student pilot can pay regular premium costs for her life insurance policy
with the addition of which of the following?: Aviation exclusion
8. What is the consideration given by an insurer in the Consideration clause
of a life policy?: Promise to pay a death benefit to a named beneficiary
9. Which of the following reimburses its insureds for covered medical expens-
es?: Commercial insurers
10. Under Florida law, which of the following provisions is NOT required in a
Medicare Supplement policy?: Limitation on pre-existing conditions for up to 12
months
11. Which organization was established to provide funds to protect an insured
in the event of an insurer's insolvency?: Florida Life and Health Insurance
Guaranty Association
12. Major Medical policies typically:: contain a deductible and coinsurance
13. The Life and Health Insurance Guaranty Association is: funded by admitted
insurance companies through assessments
14. P and Q are married and have three children. P is the primary beneficiary
on Q's Accidental Death and Dismemberment (AD&D) policy and Q's sister R
is the contingent beneficiary. P, Q, and R are involved in a car accident and Q
and R are killed instantly. The Accidental Death benefits will be paid to:: P only
15. Which of the following is considered an accurate statement of an unfair
trade practice?: Twisting involves an agent using misrepresentation to convince
, Florida Health and Life Insurance Exam
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a policyowner to cancel their current policy so that they can purchase a new life
insurance policy with another company
16. Which of the following is an example of an Unfair Trade Practice?: Coerci-
son
17. The Legal Actions provision of an insurance contract is designed to do all
of the following, EXCEPT:: protect the producer
18. Which of these actions should a producer take when submitting an insur-
ance application to an insurer?: Inform insurer of relevant information not included
on the application
19. A Health Reimbursement Arrangement MUST be established:: by the em-
ployer
20. If an individual has an Accidental Death and Dismemberment policy and
dies, and autopsy can be performed in all these situations, EXCEPT:: When
the state prohibits this by law
21. P is a producer who notices 5 questions on a life application were not
answered. What actions should P take?: Set up a meeting with the applicant to
answer the remaining questions
22. A disability elimination period is best described as a:: time deductible
23. Which type of insurance company allows their policyowners to elect a
governing body?: Mutual
24. Two partners own equal shares in a business worth a total of $1,000,000.
If they both commit to the purchase of a life insurance policy that will fund
a Buy-Sell Agreement, which of the following is TRUE?: Each partner owns a
$500,000 policy on their partner's life
25. N is a student pilot with a large life insurance policy. Which of these
features would limit the insurer's obligation in the event N was killed while
flying as a student pilot?: Exclusion
26. A policyowner's rights are limited under which beneficiary designation?: -
Irrecovable
27. What kind of Accidental Death and Dismemberment (AD&D) insurance
beneficiary requires his/her consent when a change of beneficiary is made?-
: Irrevocable beneficiary
28. Which type of contract liquidates an estate through recurrent payments?-
: Annuity
29. Under Florida law, a variable annuity policyowner must be notified of the
accumulated value of the contract: once each year
30. J let her life insurance policy lapse 8 months ago due to nonpayment. She
can reestablish coverage under which of the following provisions?: Reinstate-
ment provision
Study online at https://quizlet.com/_gvbq1x
1. According to Mandatory Uniform Policy Provisions, what is the maximum
amount of time after the premium due date during which the policy remains
in force even though the premium has not been paid?: 31 days
2. G purchased a Family Income policy at age 40. The policy has a 20-year
rider period. If G were to die at age 50, how long would G's family receive an
income?: 10 years
3. E and F are business partners. Each takes out a $500,000 life insurance
policy on the other, naming himself as primary beneficiary. E and F eventually
terminate their business, and four months later E dies. Although E was married
with three children at the time of death, the primary beneficiary is still F.
However, an insurable interest no longer exists. Where will the proceeds from
E's life insurance policy be directed to?: F
4. The Health Insurance Portability and Accountability Act (HIPAA) gives pri-
vacy protection for:: health information
5. What do Dread Disease policies cover?: A specific disease or illness
6. When an insurance application is taken by a producer, which of these
statements is true?: Any changes made on the application require the applicant's
initials
7. A student pilot can pay regular premium costs for her life insurance policy
with the addition of which of the following?: Aviation exclusion
8. What is the consideration given by an insurer in the Consideration clause
of a life policy?: Promise to pay a death benefit to a named beneficiary
9. Which of the following reimburses its insureds for covered medical expens-
es?: Commercial insurers
10. Under Florida law, which of the following provisions is NOT required in a
Medicare Supplement policy?: Limitation on pre-existing conditions for up to 12
months
11. Which organization was established to provide funds to protect an insured
in the event of an insurer's insolvency?: Florida Life and Health Insurance
Guaranty Association
12. Major Medical policies typically:: contain a deductible and coinsurance
13. The Life and Health Insurance Guaranty Association is: funded by admitted
insurance companies through assessments
14. P and Q are married and have three children. P is the primary beneficiary
on Q's Accidental Death and Dismemberment (AD&D) policy and Q's sister R
is the contingent beneficiary. P, Q, and R are involved in a car accident and Q
and R are killed instantly. The Accidental Death benefits will be paid to:: P only
15. Which of the following is considered an accurate statement of an unfair
trade practice?: Twisting involves an agent using misrepresentation to convince
, Florida Health and Life Insurance Exam
Study online at https://quizlet.com/_gvbq1x
a policyowner to cancel their current policy so that they can purchase a new life
insurance policy with another company
16. Which of the following is an example of an Unfair Trade Practice?: Coerci-
son
17. The Legal Actions provision of an insurance contract is designed to do all
of the following, EXCEPT:: protect the producer
18. Which of these actions should a producer take when submitting an insur-
ance application to an insurer?: Inform insurer of relevant information not included
on the application
19. A Health Reimbursement Arrangement MUST be established:: by the em-
ployer
20. If an individual has an Accidental Death and Dismemberment policy and
dies, and autopsy can be performed in all these situations, EXCEPT:: When
the state prohibits this by law
21. P is a producer who notices 5 questions on a life application were not
answered. What actions should P take?: Set up a meeting with the applicant to
answer the remaining questions
22. A disability elimination period is best described as a:: time deductible
23. Which type of insurance company allows their policyowners to elect a
governing body?: Mutual
24. Two partners own equal shares in a business worth a total of $1,000,000.
If they both commit to the purchase of a life insurance policy that will fund
a Buy-Sell Agreement, which of the following is TRUE?: Each partner owns a
$500,000 policy on their partner's life
25. N is a student pilot with a large life insurance policy. Which of these
features would limit the insurer's obligation in the event N was killed while
flying as a student pilot?: Exclusion
26. A policyowner's rights are limited under which beneficiary designation?: -
Irrecovable
27. What kind of Accidental Death and Dismemberment (AD&D) insurance
beneficiary requires his/her consent when a change of beneficiary is made?-
: Irrevocable beneficiary
28. Which type of contract liquidates an estate through recurrent payments?-
: Annuity
29. Under Florida law, a variable annuity policyowner must be notified of the
accumulated value of the contract: once each year
30. J let her life insurance policy lapse 8 months ago due to nonpayment. She
can reestablish coverage under which of the following provisions?: Reinstate-
ment provision
