Florida 2-15 Insurance License Exam Questions
with Correct Verified Detailed Answers Latest
Update 2025/2026
Introduction:
This document provides a comprehensive collection of updated
exam questions and detailed verified answers for the Florida 2-15
Insurance License Exam (Life, Health & Variable Annuities)
covering the 2025-2026 exam period. It includes essential topics
such as life insurance, annuities, health policies, Social Security,
Medicare/Medicaid, underwriting, retirement plans, and Florida-
specific insurance laws. The material is structured in a question-
and-answer format, making it ideal for thorough exam preparation.
Exam Questions and Answers:
The Social Security payroll tax is known as ____________ tax. ---
correct answer ---FICA
What is the operating objective of a stock insurance company? ---
correct answer ---To make a profit for its owners, the stockholders
Most adjustable life policies are more expensive than conventional
term policies or whole life policies. --- correct answer ---TRUE
,HMOs reimburse their insureds for covered medical expenses. ---
correct answer ---FALSE
An agreement that provides that upon a business owner's death,
surviving owners will purchase the deceased's interest, often with
funds from life insurance policies owned by each principal on the
lives of all other principals is the: --- correct answer ---Buy-Sell
plan.
In Florida, which of the following groups are eligible for group life
insurance? --- correct answer ---Typically, any type of legitimate
group is eligible to purchase a group life insurance policy.
In a guaranteed renewable health policy, the company may increase
premiums: --- correct answer ---only for an entire class of insureds.
Under the Uniform Provisions Law, which of the following
provisions are optional for a health policy? --- correct answer ---
Change of Occupation
The person who has a health maintenance contract is referred to as
the: --- correct answer ---subscriber
,In order to qualify for Medicaid benefits, applicants must be at least
age ____, blind or disabled, and meet other eligibility requirements.
--- correct answer ---65
Under the Unfair Trade Practices Act, claim forms must be sent to
the insured within _______ from the date a claim is reported. ---
correct answer ---15 DAYS
A life insurance policy's cash value belongs to the insured. ---
correct answer ---FALSE
Agents should check with _________________ to determine if the
insurer they are representing is a properly authorized insurer. ---
correct answer ---the Department of Financial Services
Supplemental Medical Insurance, Medicaid, and U.S. Armed
Services and Veterans Insurance are all examples of what type of
insurer? --- correct answer ---Government Insurers
Section 1035 Exchanges are a way to move annuity funds: ---
correct answer ---income tax free.
Which of the following titles can a life insurance agent use when
conducting business --- correct answer ---Neither financial planner,
consultant, or investment advisor
, Group health insurers must either provide or offer chiropractic
coverage. --- correct answer ---TRUE
A term life insurance policy's cash value builds during a specifically
limited period of time. --- correct answer ---FALSE
Insurable interest must exist at: --- correct answer ---the time of
application.
Who regulates retirement plans in Florida? --- correct answer ---
ERISA
Employee Retirement Income Security Act
What type of insurance is most frequently used in group life plans?
--- correct answer ---Annual Renewable Term
What is a Medicare supplement (Medigap) policies? --- correct
answer ---Medigap policies pay for some healthcare services not
covered by Medicare, pay most, if not all, Medicare deductibles and
copayments, and supplement Medicare benefits.
Anyone under the age of _____ who has earned income may open a
traditional IRA. --- correct answer ---70 1/2
with Correct Verified Detailed Answers Latest
Update 2025/2026
Introduction:
This document provides a comprehensive collection of updated
exam questions and detailed verified answers for the Florida 2-15
Insurance License Exam (Life, Health & Variable Annuities)
covering the 2025-2026 exam period. It includes essential topics
such as life insurance, annuities, health policies, Social Security,
Medicare/Medicaid, underwriting, retirement plans, and Florida-
specific insurance laws. The material is structured in a question-
and-answer format, making it ideal for thorough exam preparation.
Exam Questions and Answers:
The Social Security payroll tax is known as ____________ tax. ---
correct answer ---FICA
What is the operating objective of a stock insurance company? ---
correct answer ---To make a profit for its owners, the stockholders
Most adjustable life policies are more expensive than conventional
term policies or whole life policies. --- correct answer ---TRUE
,HMOs reimburse their insureds for covered medical expenses. ---
correct answer ---FALSE
An agreement that provides that upon a business owner's death,
surviving owners will purchase the deceased's interest, often with
funds from life insurance policies owned by each principal on the
lives of all other principals is the: --- correct answer ---Buy-Sell
plan.
In Florida, which of the following groups are eligible for group life
insurance? --- correct answer ---Typically, any type of legitimate
group is eligible to purchase a group life insurance policy.
In a guaranteed renewable health policy, the company may increase
premiums: --- correct answer ---only for an entire class of insureds.
Under the Uniform Provisions Law, which of the following
provisions are optional for a health policy? --- correct answer ---
Change of Occupation
The person who has a health maintenance contract is referred to as
the: --- correct answer ---subscriber
,In order to qualify for Medicaid benefits, applicants must be at least
age ____, blind or disabled, and meet other eligibility requirements.
--- correct answer ---65
Under the Unfair Trade Practices Act, claim forms must be sent to
the insured within _______ from the date a claim is reported. ---
correct answer ---15 DAYS
A life insurance policy's cash value belongs to the insured. ---
correct answer ---FALSE
Agents should check with _________________ to determine if the
insurer they are representing is a properly authorized insurer. ---
correct answer ---the Department of Financial Services
Supplemental Medical Insurance, Medicaid, and U.S. Armed
Services and Veterans Insurance are all examples of what type of
insurer? --- correct answer ---Government Insurers
Section 1035 Exchanges are a way to move annuity funds: ---
correct answer ---income tax free.
Which of the following titles can a life insurance agent use when
conducting business --- correct answer ---Neither financial planner,
consultant, or investment advisor
, Group health insurers must either provide or offer chiropractic
coverage. --- correct answer ---TRUE
A term life insurance policy's cash value builds during a specifically
limited period of time. --- correct answer ---FALSE
Insurable interest must exist at: --- correct answer ---the time of
application.
Who regulates retirement plans in Florida? --- correct answer ---
ERISA
Employee Retirement Income Security Act
What type of insurance is most frequently used in group life plans?
--- correct answer ---Annual Renewable Term
What is a Medicare supplement (Medigap) policies? --- correct
answer ---Medigap policies pay for some healthcare services not
covered by Medicare, pay most, if not all, Medicare deductibles and
copayments, and supplement Medicare benefits.
Anyone under the age of _____ who has earned income may open a
traditional IRA. --- correct answer ---70 1/2
