Florida life Insurance Verified Multiple Choice and Conceptual Actual Emended Exam
Questions With Reviewed 100% Correct Detailed Answers
Guaranteed Pass!!Current Update
Found in juvenile polices which waivers
the premiums if the person paying them
A payor benefit rider
(often the parent) is disabled or dies
while the child is still a minor
A form of misrepresentation in which an
agent persuades an insured/owner to
twisting
cancel, lapse, or switch policies, even
when it's to the insured's disadvantage.
Sliding in insurance is an unfair trade
practice that occurs when an insurance
sliding insurance agent combines the cost of additional
products or coverage with the policy pre-
mium without informing the customer.
the practice of persuading someone to
coercion
do something by using force or threats
a practice of giving money back to a pol-
rebating icyholder in order to incentivize or "in-
duce" a sale
insurance is a form of permanent life
insurance. It combines the main bene-
fit of life insurance—a financial payout
variable universal life insurance to your loved ones when you die—with
investment subaccounts. These invest-
ment subaccounts can be used to invest
the cash value of your policy.
A "warranty" in insurance law is a state-
ment or condition forming part of a con-
Warranty review
tract whereby insured agrees that certain
acts have been or shall be done
Any financial interest in life or property
such that, if the life or property were lost
insurable interest
or harmed, the insured would suffer fi-
nancially.
There are four main risk classes: pre-
ferred plus, preferred, standard plus, and
standard. Your risk class is determined
, Florida life Insurance Verified Multiple Choice and Conceptual Actual Emended Exam
Questions With Reviewed 100% Correct Detailed Answers
Guaranteed Pass!!Current Update
by factors like your age, health, occupa-
tion, and lifestyle. If you're in a higher risk
risk classification
class, you may have to pay more for life
insurance.
Report of an investigator providing facts
required for a proper underwriting deci-
inspection report
sion on applications for new insurance
and reinstatements.
Insurance that is kept in force for a per-
son's entire life and pays a benefit upon
whole life
the person's death, whenever that may
be.
An individual covered under a group life
Certificate Holder
insurance policy is considered to be a(N)
the policyholder will receive a partial or
full refund of premiums paid if the poli-
Nonforfeiture insurance
cy lapses after a defined period due to
missed premium payments.
type of life insurance product which cov-
term rider
ers children under their parent's policy
the mixing of funds belonging to one par-
commingling
ty with funds belonging to another party.
In investment, an annuity is a series of
payments made at equal intervals. Ex-
amples of annuities are regular deposits
annuity
to a savings account, monthly home
mortgage payments, monthly insurance
payments and pension payments.
A policy of adhesion can only be modi-
The insurance company.
fied by whom?
A provision in a life insurance policy that
pays the policyowner an amount that
Policy loan provision
does not surpass the guaranteed cash
value is called the:
not limited by dollar amount
, Florida life Insurance Verified Multiple Choice and Conceptual Actual Emended Exam
Questions With Reviewed 100% Correct Detailed Answers
Guaranteed Pass!!Current Update
In a individual retirement account(IRA)
rollover contributions are:
T has a term policy that allows him to
continue the coverage after Expiration of
Renewable
the initial policy period. What type of term
coverage is this?
insurance on the life of a key employee
to cover the possibility of an income loss
Key employee Life Insurance
and/or an increase in expenses resulting
from the key employee's death
The payout option that will guarantee an
annuity payment for the remainder of an
Straight Life Annuity
individual's life. This option typically pro-
vides the largest monthly payment.
Who is NOT required to sign a life insur-
Beneficiary
ance application?
Which of these statements about a guar- Evidence of insurability is required when
anteed option rider is not true? the option is exercised
All of these are characteristics of an Ad- face amount can be adjusted using poli-
justable Life policy EXCEPT cy dividends
P died five years after purchasing a
life policy. While investigating the claim,
the insurer discovered material misrep-
Beneficiary will be paid the death benefit
resentations made by P during the ap-
plication process. Which of these actions
will the insurer take?
W gave W's age as 50 when W pur-
chased a Life policy. At the time of W's
death seven years later, the company
The proceeds would be reduced based
discovered W's true age at issue had
on whatever the premium would have
been 59. What would the normal proce-
been if purchased at age 59
dure be under the misstatement of age
provision in regard to the payment of the
death claim?
T, age 70, withdraws cash from a prof-
it-sharing plan and purchases a Straight
Questions With Reviewed 100% Correct Detailed Answers
Guaranteed Pass!!Current Update
Found in juvenile polices which waivers
the premiums if the person paying them
A payor benefit rider
(often the parent) is disabled or dies
while the child is still a minor
A form of misrepresentation in which an
agent persuades an insured/owner to
twisting
cancel, lapse, or switch policies, even
when it's to the insured's disadvantage.
Sliding in insurance is an unfair trade
practice that occurs when an insurance
sliding insurance agent combines the cost of additional
products or coverage with the policy pre-
mium without informing the customer.
the practice of persuading someone to
coercion
do something by using force or threats
a practice of giving money back to a pol-
rebating icyholder in order to incentivize or "in-
duce" a sale
insurance is a form of permanent life
insurance. It combines the main bene-
fit of life insurance—a financial payout
variable universal life insurance to your loved ones when you die—with
investment subaccounts. These invest-
ment subaccounts can be used to invest
the cash value of your policy.
A "warranty" in insurance law is a state-
ment or condition forming part of a con-
Warranty review
tract whereby insured agrees that certain
acts have been or shall be done
Any financial interest in life or property
such that, if the life or property were lost
insurable interest
or harmed, the insured would suffer fi-
nancially.
There are four main risk classes: pre-
ferred plus, preferred, standard plus, and
standard. Your risk class is determined
, Florida life Insurance Verified Multiple Choice and Conceptual Actual Emended Exam
Questions With Reviewed 100% Correct Detailed Answers
Guaranteed Pass!!Current Update
by factors like your age, health, occupa-
tion, and lifestyle. If you're in a higher risk
risk classification
class, you may have to pay more for life
insurance.
Report of an investigator providing facts
required for a proper underwriting deci-
inspection report
sion on applications for new insurance
and reinstatements.
Insurance that is kept in force for a per-
son's entire life and pays a benefit upon
whole life
the person's death, whenever that may
be.
An individual covered under a group life
Certificate Holder
insurance policy is considered to be a(N)
the policyholder will receive a partial or
full refund of premiums paid if the poli-
Nonforfeiture insurance
cy lapses after a defined period due to
missed premium payments.
type of life insurance product which cov-
term rider
ers children under their parent's policy
the mixing of funds belonging to one par-
commingling
ty with funds belonging to another party.
In investment, an annuity is a series of
payments made at equal intervals. Ex-
amples of annuities are regular deposits
annuity
to a savings account, monthly home
mortgage payments, monthly insurance
payments and pension payments.
A policy of adhesion can only be modi-
The insurance company.
fied by whom?
A provision in a life insurance policy that
pays the policyowner an amount that
Policy loan provision
does not surpass the guaranteed cash
value is called the:
not limited by dollar amount
, Florida life Insurance Verified Multiple Choice and Conceptual Actual Emended Exam
Questions With Reviewed 100% Correct Detailed Answers
Guaranteed Pass!!Current Update
In a individual retirement account(IRA)
rollover contributions are:
T has a term policy that allows him to
continue the coverage after Expiration of
Renewable
the initial policy period. What type of term
coverage is this?
insurance on the life of a key employee
to cover the possibility of an income loss
Key employee Life Insurance
and/or an increase in expenses resulting
from the key employee's death
The payout option that will guarantee an
annuity payment for the remainder of an
Straight Life Annuity
individual's life. This option typically pro-
vides the largest monthly payment.
Who is NOT required to sign a life insur-
Beneficiary
ance application?
Which of these statements about a guar- Evidence of insurability is required when
anteed option rider is not true? the option is exercised
All of these are characteristics of an Ad- face amount can be adjusted using poli-
justable Life policy EXCEPT cy dividends
P died five years after purchasing a
life policy. While investigating the claim,
the insurer discovered material misrep-
Beneficiary will be paid the death benefit
resentations made by P during the ap-
plication process. Which of these actions
will the insurer take?
W gave W's age as 50 when W pur-
chased a Life policy. At the time of W's
death seven years later, the company
The proceeds would be reduced based
discovered W's true age at issue had
on whatever the premium would have
been 59. What would the normal proce-
been if purchased at age 59
dure be under the misstatement of age
provision in regard to the payment of the
death claim?
T, age 70, withdraws cash from a prof-
it-sharing plan and purchases a Straight
