FLORIDA 2-15 INSURANCE LICENSE EXAM / TEST REVIEW
QUESTIONS & CERTIFIED SOLUTIONS / 100% CORRECT /
ALREADY GRADED, A+
Accumulation units are converted into annuity units: -
Answer-at the time of annuity payout.
A group life insurance plan in which the employer pays the entire premium is known as a
plan. -
Answer-noncontributory
If a disabled worker covered under Social Security disability benefits recovers and then is
disabled again within five years, a new waiting period is required before benefits begin
again. -
Answer-FALSE
Robert had an accident and qualified for Social Security disability. Given the waiting
period, when will Robert begin to receive benefits? -
Answer-After 5 months
The Insuring Clause includes all of the following EXCEPT the -
Answer-beneficiary
Mutualization occurs when a stock company turns to a company. -
Answer-mutual
To provide a safeguard for insureds, most major medical policies contain a
feature that limits the insured's out-of-pocket expenses. -
Answer-stop- loss
Tom is a newly appointed life, health and variable annuity agent with Acme Insurance
Agency. He is writing his first insurance policy on his brother-in-law's life. Who does
Tom legally represent in this transaction? -
Answer-Acme Insurance Agency
An insurance clause is a distinct article in a formal document that establishes the rules
in the contract that must adhere to. -
insurer both
Answer- and the
theinsured
"ACC" refers to the type of disability that prevents someone from performing the job he
was performing prior to the disability. -
Answer-FALSE
Which statement is CORRECT about the Department of Financial Services' right to
examine an agent's records? -
Answer-An examination can be conducted at any time to discover any unfair trade practices.
,Bill gives Jim a couple of tickets to a Florida Gators game to thank him for purchasing a
policy. This is an example of: -
Answer-rebating
term insurance provides a level amount of protection for a specified
period, after which the policy expires. -
Answer-Level
, Business overhead expense (B.O.E.) insurance does not provide benefits to cover the
business owner's salary. -
Answer-TRUE
Level, decreasing, and increasing insurance are all basic forms of
insurance. -
Answer-term
Hospice services are covered under Medicare Part A. -
Answer-TRUE
Under Florida law, group health insurers must offer mental and nervous disorder
insurance to policyowners. -
Answer-TRUE
Deductibles under a group major medical plan usually run from $250 to $500; whereas
individual health plans usually run from: -
Answer-$1,000 plus.
Every HMO subscriber must receive a benefits package that includes a copy of the HMO
contract and certificate, and: -
Answer-a member's handbook.
A life insurance policy will not be reinstated if it has been: -
Answer-surrendered for its cash value.
Which of the following is NOT a type of permanent life insurance? -
Answer-Term Life
In Florida, a must sign for and on behalf of a minor purchasing life
insurance. -
Answer-parent or legal guardian
When an agent spreads a false story that damages a competing agent's reputation, the
offense is called: -
Answer-defamation
is when policy values of an insurance policy are used to purchase another
policy with the same insurer for the sole purpose of earning additional premiums or
commissions. -
Answer-Churning
Once an organization has filed an application to conduct insurance business, the Office of
Insurance Regulation will begin its review for issuing a(n): -
Answer-Certificate of Authority
QUESTIONS & CERTIFIED SOLUTIONS / 100% CORRECT /
ALREADY GRADED, A+
Accumulation units are converted into annuity units: -
Answer-at the time of annuity payout.
A group life insurance plan in which the employer pays the entire premium is known as a
plan. -
Answer-noncontributory
If a disabled worker covered under Social Security disability benefits recovers and then is
disabled again within five years, a new waiting period is required before benefits begin
again. -
Answer-FALSE
Robert had an accident and qualified for Social Security disability. Given the waiting
period, when will Robert begin to receive benefits? -
Answer-After 5 months
The Insuring Clause includes all of the following EXCEPT the -
Answer-beneficiary
Mutualization occurs when a stock company turns to a company. -
Answer-mutual
To provide a safeguard for insureds, most major medical policies contain a
feature that limits the insured's out-of-pocket expenses. -
Answer-stop- loss
Tom is a newly appointed life, health and variable annuity agent with Acme Insurance
Agency. He is writing his first insurance policy on his brother-in-law's life. Who does
Tom legally represent in this transaction? -
Answer-Acme Insurance Agency
An insurance clause is a distinct article in a formal document that establishes the rules
in the contract that must adhere to. -
insurer both
Answer- and the
theinsured
"ACC" refers to the type of disability that prevents someone from performing the job he
was performing prior to the disability. -
Answer-FALSE
Which statement is CORRECT about the Department of Financial Services' right to
examine an agent's records? -
Answer-An examination can be conducted at any time to discover any unfair trade practices.
,Bill gives Jim a couple of tickets to a Florida Gators game to thank him for purchasing a
policy. This is an example of: -
Answer-rebating
term insurance provides a level amount of protection for a specified
period, after which the policy expires. -
Answer-Level
, Business overhead expense (B.O.E.) insurance does not provide benefits to cover the
business owner's salary. -
Answer-TRUE
Level, decreasing, and increasing insurance are all basic forms of
insurance. -
Answer-term
Hospice services are covered under Medicare Part A. -
Answer-TRUE
Under Florida law, group health insurers must offer mental and nervous disorder
insurance to policyowners. -
Answer-TRUE
Deductibles under a group major medical plan usually run from $250 to $500; whereas
individual health plans usually run from: -
Answer-$1,000 plus.
Every HMO subscriber must receive a benefits package that includes a copy of the HMO
contract and certificate, and: -
Answer-a member's handbook.
A life insurance policy will not be reinstated if it has been: -
Answer-surrendered for its cash value.
Which of the following is NOT a type of permanent life insurance? -
Answer-Term Life
In Florida, a must sign for and on behalf of a minor purchasing life
insurance. -
Answer-parent or legal guardian
When an agent spreads a false story that damages a competing agent's reputation, the
offense is called: -
Answer-defamation
is when policy values of an insurance policy are used to purchase another
policy with the same insurer for the sole purpose of earning additional premiums or
commissions. -
Answer-Churning
Once an organization has filed an application to conduct insurance business, the Office of
Insurance Regulation will begin its review for issuing a(n): -
Answer-Certificate of Authority
