FLORIDA LIFE, HEALTH, & ANNUITY PRE-
LICENSING EXAM 140 QUESTIONS & CORRECT
ANSWERS LATEST 2025
1. Which of the following decisions would a Health Savings Account (HSA) owner
NOT be able to make?
The amount contributed by the employer
2. Under a life insurance policy, the ________ has the authority to name the
beneficiary.
Owner
3. In Florida, the underwriting and issuance of a master group health policy
requires that all employees
Are eligible to participate, regardless of their individual health history
4. Which action could result in a hearing being ordered by the Department of
Financial Services?
Performing insurance transactions without a license
5. Under Florida law, a variable annuity policyowner must be notified of the
accumulated value of the contract
Once each year
6. W gave W's age as 50 when W purchased a Life policy. At the time of W's death
seven years later, the company discovered W's true age at issue had been 59.
What would the normal procedure be under the misstatement of age provision in
regard to the payment of the death claim?
,The proceeds would be reduced based on whatever the premium would have
been if purchased at age 59
7. In Florida, which of the following practitioners normally do NOT receive
payment from health insurance policies?
Naturopaths
8. K made a fraudulent statement on her health insurance policy application. In
the event of a claim on this policy, the insurance company is required to pay
Nothing
9. When replacing or exchanging an annuity, the agent must disclose to the
annuitant
The possible tax ramifications as a result of the transaction
10. The coordination of benefits (COB) provision exists in order to
Avoid duplication of benefit payments
11. An example of rebating would be
Offering a client something of value not stated in the contract in exchange for
their business
12. The Florida Employee Health Care Access Act was established to make
Group health insurance available to employers with up to 50 employees
13. The free-look period for all qualified Long-term care policies sold in Florida is
__ days.
30 days
14. Which of the following is a standard provision of the conversion privileges in a
Group Life policy?
Group Life coverage can be converted to an individual policy at regular rates on
an attained-age basis
, 15. Any violations of the Florida financial institutions code may be investigated by
the
Department of Financial Services (DFS)
16. As a condition for a loan, a bank requires the borrower to purchase credit
insurance from a specific company. What is the bank guilty of?
Coercion
17. Under an Individual Disability policy in Florida, what is the minimum schedule
of time in which claims must be made to an insured?
Monthly
18. Which of the following situations does NOT apply to the Florida Replacement
Rule?
An existing policyholder purchases an additional policy from the same insurer
19. Which two entities regulate variable annuities?
Department of Financial Services; and Securities Exchange Commission
20. What is required in the Florida Employee Health Care Access Act?
Small group benefit plans are to be issued on a "guarantee-issue" basis
21. When is a Group Health policy required to provide coverage for a newborn
child?
At the moment of birth
22. Which of the following is NOT required in the Outline of Coverage for a health
insurance policy?
Projection of the policy's future costs
23. Which of the following MUST be included in a Medicare Supplement policy's
Outline of Coverage?
The policy's limitations and exceptions
24. Which of the following provisions is NOT required in HMO
contracts/certificates?
LICENSING EXAM 140 QUESTIONS & CORRECT
ANSWERS LATEST 2025
1. Which of the following decisions would a Health Savings Account (HSA) owner
NOT be able to make?
The amount contributed by the employer
2. Under a life insurance policy, the ________ has the authority to name the
beneficiary.
Owner
3. In Florida, the underwriting and issuance of a master group health policy
requires that all employees
Are eligible to participate, regardless of their individual health history
4. Which action could result in a hearing being ordered by the Department of
Financial Services?
Performing insurance transactions without a license
5. Under Florida law, a variable annuity policyowner must be notified of the
accumulated value of the contract
Once each year
6. W gave W's age as 50 when W purchased a Life policy. At the time of W's death
seven years later, the company discovered W's true age at issue had been 59.
What would the normal procedure be under the misstatement of age provision in
regard to the payment of the death claim?
,The proceeds would be reduced based on whatever the premium would have
been if purchased at age 59
7. In Florida, which of the following practitioners normally do NOT receive
payment from health insurance policies?
Naturopaths
8. K made a fraudulent statement on her health insurance policy application. In
the event of a claim on this policy, the insurance company is required to pay
Nothing
9. When replacing or exchanging an annuity, the agent must disclose to the
annuitant
The possible tax ramifications as a result of the transaction
10. The coordination of benefits (COB) provision exists in order to
Avoid duplication of benefit payments
11. An example of rebating would be
Offering a client something of value not stated in the contract in exchange for
their business
12. The Florida Employee Health Care Access Act was established to make
Group health insurance available to employers with up to 50 employees
13. The free-look period for all qualified Long-term care policies sold in Florida is
__ days.
30 days
14. Which of the following is a standard provision of the conversion privileges in a
Group Life policy?
Group Life coverage can be converted to an individual policy at regular rates on
an attained-age basis
, 15. Any violations of the Florida financial institutions code may be investigated by
the
Department of Financial Services (DFS)
16. As a condition for a loan, a bank requires the borrower to purchase credit
insurance from a specific company. What is the bank guilty of?
Coercion
17. Under an Individual Disability policy in Florida, what is the minimum schedule
of time in which claims must be made to an insured?
Monthly
18. Which of the following situations does NOT apply to the Florida Replacement
Rule?
An existing policyholder purchases an additional policy from the same insurer
19. Which two entities regulate variable annuities?
Department of Financial Services; and Securities Exchange Commission
20. What is required in the Florida Employee Health Care Access Act?
Small group benefit plans are to be issued on a "guarantee-issue" basis
21. When is a Group Health policy required to provide coverage for a newborn
child?
At the moment of birth
22. Which of the following is NOT required in the Outline of Coverage for a health
insurance policy?
Projection of the policy's future costs
23. Which of the following MUST be included in a Medicare Supplement policy's
Outline of Coverage?
The policy's limitations and exceptions
24. Which of the following provisions is NOT required in HMO
contracts/certificates?
