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? - Premiums normally increase at the time of
renewal.
The issuer must provide a perspective buyer with an? - 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? - Ten-year
Endowment
The waiting period for a pre-existing condition under a Medicare supplement
policy may NOT go beyond? - 6 months
,Which of the following statements is correct about accelerated death benefits?
- Must have terminal illness to qualify.
Any charges made on an insurance application requires the initial of whom ? -
Applicant
What is the exercise tax rate the I RS imposes on individuals ages 70 1/2 or
older who do not take the required minimum distribution's from their qualified
retirement plan? - 50%
Which of the following characteristics is correct about interest sensitive whole
life? - There is a flexible premium payment
What type of renewability guarantees premium rates and renewability ? -
Noncancellable
If the insured and primary beneficiary are both killed in the same accident and
it cannot be determined who dies first, where are the death proceed to the
directed under the uniform simultaneous death act? - Insured's contingent
beneficiary.
A policy owner is able to choose the frequency of premium payment through
what policy feature? - Premium mode
Which of the following cost would a basic hospital/surgical policy likely cover? -
Surgically removing a facial birthmark.
,M had an annual life insurance premium payment due January 1. she died
January 10 without making the premium payment. what action will the insurer
take? - Pay face amount minus the past due premium
Which of the following factors affect the amount of monthly disability benefits
payable under Social Security? - The amount of the benefits available from
other sources.
Who makes the legally enforceable promise in a unilateral insurance policy? -
Insurance company
Which of these statements is incorrect regarding a preference provider
organization? (PPO) - PPO's are not a type of managed care system( ppo are
considered to be a managed health care system)
Non-occupational disability coverage is designed for? - Employees who suffer
non-work related disability, since work-related disability are covered by
workers compensation.
Nursing home benefits must be provided for all at least consecutive months in
which of the following types of policies? - Long-term care
With how many days after policy delivery can a Medicare supplement policy be
returning for 100% premium refund? - 30 (maximum 30 days)
What is the purpose of the Time of Payment of claims provision? - Prevents
delayed claims payments made by insurer
, When replacing or exchanging an annuity, the agent must disclose to the
annuitant? - The possible tax ramifications as a result of the transaction
Q purchase $500,000 life insurance policy and pays $900 in premiums over the
first six months. Q die suddenly and the beneficiary is paid $500,000. This
exchange of unequal value reflects which of the following assurance contract
pictures? - Aleatory.
How many hours of continuing education must the newly licensed agent
complete every two years - 24
According to the time payment of claims provision, the insurer must pay
disability income benefits no less frequently then which of the following
options? - Monthly
Which of the following is the most important factor when deciding how much
disability income coverage an applicant should purchase? - Applicants monthly
income
Which two entitles regulate variable annuities? - Department of Financial
Services; Securities Exchange Commission.
The amount of coverage on a group life policy is limited to? - The insured's
total loan value
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? - Premiums normally increase at the time of
renewal.
The issuer must provide a perspective buyer with an? - 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? - Ten-year
Endowment
The waiting period for a pre-existing condition under a Medicare supplement
policy may NOT go beyond? - 6 months
,Which of the following statements is correct about accelerated death benefits?
- Must have terminal illness to qualify.
Any charges made on an insurance application requires the initial of whom ? -
Applicant
What is the exercise tax rate the I RS imposes on individuals ages 70 1/2 or
older who do not take the required minimum distribution's from their qualified
retirement plan? - 50%
Which of the following characteristics is correct about interest sensitive whole
life? - There is a flexible premium payment
What type of renewability guarantees premium rates and renewability ? -
Noncancellable
If the insured and primary beneficiary are both killed in the same accident and
it cannot be determined who dies first, where are the death proceed to the
directed under the uniform simultaneous death act? - Insured's contingent
beneficiary.
A policy owner is able to choose the frequency of premium payment through
what policy feature? - Premium mode
Which of the following cost would a basic hospital/surgical policy likely cover? -
Surgically removing a facial birthmark.
,M had an annual life insurance premium payment due January 1. she died
January 10 without making the premium payment. what action will the insurer
take? - Pay face amount minus the past due premium
Which of the following factors affect the amount of monthly disability benefits
payable under Social Security? - The amount of the benefits available from
other sources.
Who makes the legally enforceable promise in a unilateral insurance policy? -
Insurance company
Which of these statements is incorrect regarding a preference provider
organization? (PPO) - PPO's are not a type of managed care system( ppo are
considered to be a managed health care system)
Non-occupational disability coverage is designed for? - Employees who suffer
non-work related disability, since work-related disability are covered by
workers compensation.
Nursing home benefits must be provided for all at least consecutive months in
which of the following types of policies? - Long-term care
With how many days after policy delivery can a Medicare supplement policy be
returning for 100% premium refund? - 30 (maximum 30 days)
What is the purpose of the Time of Payment of claims provision? - Prevents
delayed claims payments made by insurer
, When replacing or exchanging an annuity, the agent must disclose to the
annuitant? - The possible tax ramifications as a result of the transaction
Q purchase $500,000 life insurance policy and pays $900 in premiums over the
first six months. Q die suddenly and the beneficiary is paid $500,000. This
exchange of unequal value reflects which of the following assurance contract
pictures? - Aleatory.
How many hours of continuing education must the newly licensed agent
complete every two years - 24
According to the time payment of claims provision, the insurer must pay
disability income benefits no less frequently then which of the following
options? - Monthly
Which of the following is the most important factor when deciding how much
disability income coverage an applicant should purchase? - Applicants monthly
income
Which two entitles regulate variable annuities? - Department of Financial
Services; Securities Exchange Commission.
The amount of coverage on a group life policy is limited to? - The insured's
total loan value
