FINAL EXAM FLORIDA LIFE &
HEALTH INSURANCE SF 8/17 EXAM
GRADED A+
The kUniversal kLife kPolicy kis kcalled kan kunbundled kLife kPolicy kbecause kthe
kpolicyholder kcan ksee kthe kexpense kcharges, kthe kinterest kearned, kand kthe: k-
kcorrect kanswers k-Cost kof kinsurance". kThe kUniversal kLife kPolicy kis kcalled kan
kunbundled kLife kPolicy kbecause kthe kpolicyholder kcan ksee kthe kexpense
kcharges, kthe kinterest kearned, kand kthe kcost kof kinsurance.
What kis kthe kSuicide kprovision kdesigned kto kdo? k- kcorrect kanswers k-safeguard
kthe kinsurer kfrom kan kapplicant kwho kis kcontemplating ksuicide". kThe kpurpose kof
ka kSuicide kprovision kis kto kprotect kthe kinsurer kagainst kthe kpurchase kof ka kpolicy
kin kcontemplation kof ksuicide.
Which kstatement kregarding ka kKey kEmployee kLife kpolicy kis kNOT ktrue? k-
kcorrect kanswers k-The kbeneficiary kis knamed kby kthe kkey kemployee
Which kof kthese kactions kis ktaken kwhen ka kpolicyowner kuses ka kLife kInsurance
kpolicy kas kcollateral kfor ka kbank kloan? k- kcorrect kanswers k-A kpolicyowner kusing
,kthe kLife kInsurance kpolicy kas kcollateral kfor ka kbank kloan knormally kwould kmake
ka kcollateral kassignment.
A kterm klife kinsurance kpolicy kmatures: k- kcorrect kanswers k-The kcorrect kanswer
kis k"upon kthe kinsured's kdeath kduring kthe kterm kof kthe kpolicy". kTerm klife
kpolicies kcan konly kmature k(pay kout kthe kface kamount) kif kdeath koccurs kduring
kthe kterm kof kthe kpolicy.
The kdifference kbetween kgroup kinsurance kand kblanket khealth kpolicies kis: k-
kcorrect kanswers k-Certificates kare knot kissued kin kblanket kpolicies.
The kHealth kInsurance kPortability kand kAccountability kAct k(HIPAA) kgives kprivacy
kprotection kfor: k- kcorrect kanswers k-health kinformation
Which kof kthe kfollowing kstatements kregarding ka kTax kSheltered kAnnuity k(TSA)
kis kINCORRECT? k- kcorrect kanswers k-The kincome kfrom kthe kTSA kis kreceived
kincome ktax-free
Which kof kthe kfollowing kprovisions kis kNOT krequired kin kHMO
kcontracts/certificates? k- kcorrect kanswers k-The kcorrect kanswer kis k"Seven-day
kgrace kperiod". kThis kis kinaccurate. kA kgrace kperiod kof kno kless kthan k10 kdays
kmust kbe kexpressly kincluded kin kan kHMO kcontract.
According kto kFlorida klaw, kwhich kof kthe kfollowing kinformation kdoes kNOT kneed
kto kbe kobtained kby kan kagent krecommending kan kannuity kpurchase? k- kcorrect
kanswers k-Marital kstatus
P kis kthe kinsured kon ka kparticipating klife kpolicy. kWhich kstatement kis ktrue kif kP's
kpremiums kare kwaived kdue kto ka kdisability? k- kcorrect kanswers k-P kwill kstill
kreceive kdeclared kdividends
Which kof kthe kfollowing kcombination kplans kis kdesigned kto kprotect kan kinsured
kfrom kan kunpaid kmortgage kbalance kupon kpremature kdeath? k- kcorrect kanswers
k-he kcorrect kanswer kis k"Joint kLife". kA kjoint klife kpolicy kcovers ktwo kor kmore
kpeople. kUsing ksome ktype kof kpermanent kinsurance k(as kopposed kto kterm), kit
kpays kthe kdeath kbenefit kat kthe kfirst kinsured's kdeath.
A kRenewable kTerm kPolicy kis krenewable kat kthe koption kof kthe k- kcorrect
kanswers k-nsured
When kan kinsurance kapplication kis ktaken kby ka kproducer, kwhich kof kthese
kstatements kis ktrue? k- kcorrect kanswers k-Any kchanges kmade kon kthe kapplication
krequire kthe kapplicant's kinitials
What kis kFlorida's kdefinition kof kLife kinsurance kreplacement? k- kcorrect kanswers k-
A ktransaction kin kwhich ka knew kpolicy kis kbought kand kan kold kpolicy kis
kterminated
Who kis kNOT krequired kto ksign ka klife kinsurance kapplication? k- kcorrect kanswers
k-Benificiary
,Additional kcoverage kcan kbe kadded kto ka kWhole kLife kpolicy kby kadding ka(n): k-
kcorrect kanswers k-decreasing kterm krider
After kan kinsured kgives knotice kof kloss, kwhat kmust khe/she kdo kif kthe kinsurer
kdoes knot kfurnish kforms? k- kcorrect kanswers k-File kwritten kproof kof kloss
A kcomprehensive kmajor kmedical khealth kinsurance kpolicy kcontains kan kEligible
kExpenses kprovision kwhich kidentifies kthe ktypes kof khealth kcare kservices kthat
kare kcovered. kAll kof kthe kfollowing khealth kcare kservices kare ktypically kcovered,
kEXCEPT kfor: k- kcorrect kanswers k-experimental kand kinvestigative kservices
How kmany khours kof kcontinuing keducation kmust ka knewly klicensed kagent
kcomplete kevery ktwo kyears? k- kcorrect kanswers k-24
Which kof kthe kfollowing kis kNOT krequired kin kthe kOutline kof kCoverage kfor ka
khealth kinsurance kpolicy? k- kcorrect kanswers k-Projection kof kthe kpolicy's kfuture
kcosts
An kaccident kpolicy kwill kmost klikely kpay ka kbenefit kfor ka(n): k- kcorrect kanswers k-
Off kthe kjob kaccident
A kprepaid kapplication kfor kindividual kDisability kIncome kinsurance kwas krecently
ksubmitted kto kan kinsurer. kWhen kthe kinsurer kreceived kthe kMedical kInformation
kBureau k(MIB) kreport, kthe kreport kshowed kthat kthe kapplicant khad ksuffered ka
kstroke k18 kmonths kago, ksomething kthat kwas knot kdisclosed kon kthe kapplication.
kWhich kof kthe kfollowing kactions kwould kthe kinsurance kcompany kNOT ktake? k-
kcorrect kanswers k-Send ka knotice kto kthe kMIB
J, kan kAccidental kDeath kand kDismemberment k(AD&D) kpolicy kholder, kdies kafter
kinjuries ksustained kin kan kaccident. kJ's kage kas kstated kon kthe kapplication kfive
kyears kago kwas kfound kto kbe kunderstated kby kten kyears. kWhich kof kthe
kfollowing kactions kwill kthe kinsurance kcompany ktake? k- kcorrect kanswers k-The
kinsurer kwill kadjust kthe kbenefit kto kwhat kthe kpremiums kpaid kwould khave
kpurchased kat kthe kinsured's kactual kage
All kof kthese kstatements kabout kEquity kIndexed kLife kInsurance kare kcorrect,
kEXCEPT: k- kcorrect kanswers k-The kpremiums kcan kbe klowered kor kraised, kbased
kon kinvestment kperformance
Which kof kthe kfollowing kdoes kSocial kSecurity kNOT kprovide kbenefits kfor? k-
kcorrect kanswers k-Dismemberment
Under ka kRenewable kTerm kpolicy, k- kcorrect kanswers k-the krenewal kpremium kis
kcalculated kon kthe kbasis kof kthe kinsured's kattained kage
Which kentity kapproves kthe kinsurance kpolicy kforms kused kin kFlorida? k- kcorrect
kanswers k-Office kof kInsurance kRegulation k(OIR)
, S khas ka kWhole kLife kpolicy kwith ka kpremium kpayment kdue ksoon. kWhich
kprovision kwould kkeep kthe kpolicy kin kforce kif kS kdoes knot kmake kthe krequired
kpayment kand kthe kpolicy khas kadequate kcash kvalue kfrom kwhich kthe kpremium
kpayment kcan kbe kmade? k- kcorrect kanswers k-Automatic kPolicy kLoan
M kbecomes kdisabled kand kis kunable kto kwork kfor ksix kmonths. kM kdies ksoon
kafter kfrom kcomplications karising kfrom kthis kdisability. kM khas ka kDisability
kIncome kpolicy kthat kpays k$2,000 ka kmonth. kWhich kof kthe kfollowing kstatements
kBEST kdescribes kwhat kis kowed kto kher kestate? k- kcorrect kanswers k-earned kbut
kunpaid kbenefits
Which kof kthe kfollowing kis kNOT kconsidered krebating? k- kcorrect kanswers k-
Sharing kcommissions kwith kan kagent klicensed kin kthe ksame kline kof kbusiness
All kof kthe kfollowing kare kconsidered kto kbe ktypical kcharacteristics kdescribing kthe
knature kof kan kinsurance kcontract, kEXCEPT: k- kcorrect kanswers k-Bilateral
Which kof kthe kfollowing kstatements kis kCORRECT kabout kaccelerated kdeath
kbenefits? k- kcorrect kanswers k-Must khave ka kterminal killness kto kqualify
Which kof kthese kis kconsidered ka kmandatory kprovision? k- kcorrect kanswers k-
Payment kof kClaims
According kto kFlorida's krules kon kdisclosure, ka klife kinsurance kapplicant kis
kexpected kto kbe kprovided kwith k- kcorrect kanswers k-a kBuyer's kGuide kand kPolicy
kSummary
The kprovision kthat kdefines kto kwhom kthe kinsurer kwill kpay kbenefits kto kis kcalled:
k- kcorrect kanswers k-Payment kof kClaims
What kkind kof klife kinsurance kproduct kcovers kchildren kunder ktheir kparent's
kpolicy? k- kcorrect kanswers k-Term kRider
A kpolicy kloan kis kmade kpossible kby kwhich kof kthese klife kinsurance kpolicy
kfeatures? k- kcorrect kanswers k-Cash kvalue kprovision
Which kof kthe kfollowing kBEST kdescribes ka kHospital kIndemnity kpolicy? k- kcorrect
kanswers k-Coverage kthat kpays ka kstated kamount kper kday kof ka kcovered
khospitalization
An kemployee krequested kthat kthe kbalance kof kher k401(k) kaccount kbe ksent
kdirectly kto kher kin kone klump ksum. kUpon kreceipt kof kthe kdistribution, kshe
kimmediately khas kthe kfunds krolled kover kinto kan kIRA. kWhat kis kthe ktax
kconsequence kof kthe kdistribution ksent kto kthis kemployee? k- kcorrect kanswers k-
The kcorrect kanswer kis k"Distribution kis ksubject kto kfederal kincome ktax
kwithholding". kA kparticipant kmust kcomplete ka krollover kto kanother kqualified kplan
kwithin k60 kdays kor kthe kdistribution kis kconsidered ka knonqualified kdistribution
kand kis ksubject kto ktaxes kand kpenalties. kA kplan ksponsor kmust kwithhold k20% kof
kthe kdistribution kfor kfederal ktaxes kon ka krollover. kOnce kthe krollover ktakes kplace
kto kthe knew kcustodian, kthe kremainder kof kthe kdistribution kis kreleased.
HEALTH INSURANCE SF 8/17 EXAM
GRADED A+
The kUniversal kLife kPolicy kis kcalled kan kunbundled kLife kPolicy kbecause kthe
kpolicyholder kcan ksee kthe kexpense kcharges, kthe kinterest kearned, kand kthe: k-
kcorrect kanswers k-Cost kof kinsurance". kThe kUniversal kLife kPolicy kis kcalled kan
kunbundled kLife kPolicy kbecause kthe kpolicyholder kcan ksee kthe kexpense
kcharges, kthe kinterest kearned, kand kthe kcost kof kinsurance.
What kis kthe kSuicide kprovision kdesigned kto kdo? k- kcorrect kanswers k-safeguard
kthe kinsurer kfrom kan kapplicant kwho kis kcontemplating ksuicide". kThe kpurpose kof
ka kSuicide kprovision kis kto kprotect kthe kinsurer kagainst kthe kpurchase kof ka kpolicy
kin kcontemplation kof ksuicide.
Which kstatement kregarding ka kKey kEmployee kLife kpolicy kis kNOT ktrue? k-
kcorrect kanswers k-The kbeneficiary kis knamed kby kthe kkey kemployee
Which kof kthese kactions kis ktaken kwhen ka kpolicyowner kuses ka kLife kInsurance
kpolicy kas kcollateral kfor ka kbank kloan? k- kcorrect kanswers k-A kpolicyowner kusing
,kthe kLife kInsurance kpolicy kas kcollateral kfor ka kbank kloan knormally kwould kmake
ka kcollateral kassignment.
A kterm klife kinsurance kpolicy kmatures: k- kcorrect kanswers k-The kcorrect kanswer
kis k"upon kthe kinsured's kdeath kduring kthe kterm kof kthe kpolicy". kTerm klife
kpolicies kcan konly kmature k(pay kout kthe kface kamount) kif kdeath koccurs kduring
kthe kterm kof kthe kpolicy.
The kdifference kbetween kgroup kinsurance kand kblanket khealth kpolicies kis: k-
kcorrect kanswers k-Certificates kare knot kissued kin kblanket kpolicies.
The kHealth kInsurance kPortability kand kAccountability kAct k(HIPAA) kgives kprivacy
kprotection kfor: k- kcorrect kanswers k-health kinformation
Which kof kthe kfollowing kstatements kregarding ka kTax kSheltered kAnnuity k(TSA)
kis kINCORRECT? k- kcorrect kanswers k-The kincome kfrom kthe kTSA kis kreceived
kincome ktax-free
Which kof kthe kfollowing kprovisions kis kNOT krequired kin kHMO
kcontracts/certificates? k- kcorrect kanswers k-The kcorrect kanswer kis k"Seven-day
kgrace kperiod". kThis kis kinaccurate. kA kgrace kperiod kof kno kless kthan k10 kdays
kmust kbe kexpressly kincluded kin kan kHMO kcontract.
According kto kFlorida klaw, kwhich kof kthe kfollowing kinformation kdoes kNOT kneed
kto kbe kobtained kby kan kagent krecommending kan kannuity kpurchase? k- kcorrect
kanswers k-Marital kstatus
P kis kthe kinsured kon ka kparticipating klife kpolicy. kWhich kstatement kis ktrue kif kP's
kpremiums kare kwaived kdue kto ka kdisability? k- kcorrect kanswers k-P kwill kstill
kreceive kdeclared kdividends
Which kof kthe kfollowing kcombination kplans kis kdesigned kto kprotect kan kinsured
kfrom kan kunpaid kmortgage kbalance kupon kpremature kdeath? k- kcorrect kanswers
k-he kcorrect kanswer kis k"Joint kLife". kA kjoint klife kpolicy kcovers ktwo kor kmore
kpeople. kUsing ksome ktype kof kpermanent kinsurance k(as kopposed kto kterm), kit
kpays kthe kdeath kbenefit kat kthe kfirst kinsured's kdeath.
A kRenewable kTerm kPolicy kis krenewable kat kthe koption kof kthe k- kcorrect
kanswers k-nsured
When kan kinsurance kapplication kis ktaken kby ka kproducer, kwhich kof kthese
kstatements kis ktrue? k- kcorrect kanswers k-Any kchanges kmade kon kthe kapplication
krequire kthe kapplicant's kinitials
What kis kFlorida's kdefinition kof kLife kinsurance kreplacement? k- kcorrect kanswers k-
A ktransaction kin kwhich ka knew kpolicy kis kbought kand kan kold kpolicy kis
kterminated
Who kis kNOT krequired kto ksign ka klife kinsurance kapplication? k- kcorrect kanswers
k-Benificiary
,Additional kcoverage kcan kbe kadded kto ka kWhole kLife kpolicy kby kadding ka(n): k-
kcorrect kanswers k-decreasing kterm krider
After kan kinsured kgives knotice kof kloss, kwhat kmust khe/she kdo kif kthe kinsurer
kdoes knot kfurnish kforms? k- kcorrect kanswers k-File kwritten kproof kof kloss
A kcomprehensive kmajor kmedical khealth kinsurance kpolicy kcontains kan kEligible
kExpenses kprovision kwhich kidentifies kthe ktypes kof khealth kcare kservices kthat
kare kcovered. kAll kof kthe kfollowing khealth kcare kservices kare ktypically kcovered,
kEXCEPT kfor: k- kcorrect kanswers k-experimental kand kinvestigative kservices
How kmany khours kof kcontinuing keducation kmust ka knewly klicensed kagent
kcomplete kevery ktwo kyears? k- kcorrect kanswers k-24
Which kof kthe kfollowing kis kNOT krequired kin kthe kOutline kof kCoverage kfor ka
khealth kinsurance kpolicy? k- kcorrect kanswers k-Projection kof kthe kpolicy's kfuture
kcosts
An kaccident kpolicy kwill kmost klikely kpay ka kbenefit kfor ka(n): k- kcorrect kanswers k-
Off kthe kjob kaccident
A kprepaid kapplication kfor kindividual kDisability kIncome kinsurance kwas krecently
ksubmitted kto kan kinsurer. kWhen kthe kinsurer kreceived kthe kMedical kInformation
kBureau k(MIB) kreport, kthe kreport kshowed kthat kthe kapplicant khad ksuffered ka
kstroke k18 kmonths kago, ksomething kthat kwas knot kdisclosed kon kthe kapplication.
kWhich kof kthe kfollowing kactions kwould kthe kinsurance kcompany kNOT ktake? k-
kcorrect kanswers k-Send ka knotice kto kthe kMIB
J, kan kAccidental kDeath kand kDismemberment k(AD&D) kpolicy kholder, kdies kafter
kinjuries ksustained kin kan kaccident. kJ's kage kas kstated kon kthe kapplication kfive
kyears kago kwas kfound kto kbe kunderstated kby kten kyears. kWhich kof kthe
kfollowing kactions kwill kthe kinsurance kcompany ktake? k- kcorrect kanswers k-The
kinsurer kwill kadjust kthe kbenefit kto kwhat kthe kpremiums kpaid kwould khave
kpurchased kat kthe kinsured's kactual kage
All kof kthese kstatements kabout kEquity kIndexed kLife kInsurance kare kcorrect,
kEXCEPT: k- kcorrect kanswers k-The kpremiums kcan kbe klowered kor kraised, kbased
kon kinvestment kperformance
Which kof kthe kfollowing kdoes kSocial kSecurity kNOT kprovide kbenefits kfor? k-
kcorrect kanswers k-Dismemberment
Under ka kRenewable kTerm kpolicy, k- kcorrect kanswers k-the krenewal kpremium kis
kcalculated kon kthe kbasis kof kthe kinsured's kattained kage
Which kentity kapproves kthe kinsurance kpolicy kforms kused kin kFlorida? k- kcorrect
kanswers k-Office kof kInsurance kRegulation k(OIR)
, S khas ka kWhole kLife kpolicy kwith ka kpremium kpayment kdue ksoon. kWhich
kprovision kwould kkeep kthe kpolicy kin kforce kif kS kdoes knot kmake kthe krequired
kpayment kand kthe kpolicy khas kadequate kcash kvalue kfrom kwhich kthe kpremium
kpayment kcan kbe kmade? k- kcorrect kanswers k-Automatic kPolicy kLoan
M kbecomes kdisabled kand kis kunable kto kwork kfor ksix kmonths. kM kdies ksoon
kafter kfrom kcomplications karising kfrom kthis kdisability. kM khas ka kDisability
kIncome kpolicy kthat kpays k$2,000 ka kmonth. kWhich kof kthe kfollowing kstatements
kBEST kdescribes kwhat kis kowed kto kher kestate? k- kcorrect kanswers k-earned kbut
kunpaid kbenefits
Which kof kthe kfollowing kis kNOT kconsidered krebating? k- kcorrect kanswers k-
Sharing kcommissions kwith kan kagent klicensed kin kthe ksame kline kof kbusiness
All kof kthe kfollowing kare kconsidered kto kbe ktypical kcharacteristics kdescribing kthe
knature kof kan kinsurance kcontract, kEXCEPT: k- kcorrect kanswers k-Bilateral
Which kof kthe kfollowing kstatements kis kCORRECT kabout kaccelerated kdeath
kbenefits? k- kcorrect kanswers k-Must khave ka kterminal killness kto kqualify
Which kof kthese kis kconsidered ka kmandatory kprovision? k- kcorrect kanswers k-
Payment kof kClaims
According kto kFlorida's krules kon kdisclosure, ka klife kinsurance kapplicant kis
kexpected kto kbe kprovided kwith k- kcorrect kanswers k-a kBuyer's kGuide kand kPolicy
kSummary
The kprovision kthat kdefines kto kwhom kthe kinsurer kwill kpay kbenefits kto kis kcalled:
k- kcorrect kanswers k-Payment kof kClaims
What kkind kof klife kinsurance kproduct kcovers kchildren kunder ktheir kparent's
kpolicy? k- kcorrect kanswers k-Term kRider
A kpolicy kloan kis kmade kpossible kby kwhich kof kthese klife kinsurance kpolicy
kfeatures? k- kcorrect kanswers k-Cash kvalue kprovision
Which kof kthe kfollowing kBEST kdescribes ka kHospital kIndemnity kpolicy? k- kcorrect
kanswers k-Coverage kthat kpays ka kstated kamount kper kday kof ka kcovered
khospitalization
An kemployee krequested kthat kthe kbalance kof kher k401(k) kaccount kbe ksent
kdirectly kto kher kin kone klump ksum. kUpon kreceipt kof kthe kdistribution, kshe
kimmediately khas kthe kfunds krolled kover kinto kan kIRA. kWhat kis kthe ktax
kconsequence kof kthe kdistribution ksent kto kthis kemployee? k- kcorrect kanswers k-
The kcorrect kanswer kis k"Distribution kis ksubject kto kfederal kincome ktax
kwithholding". kA kparticipant kmust kcomplete ka krollover kto kanother kqualified kplan
kwithin k60 kdays kor kthe kdistribution kis kconsidered ka knonqualified kdistribution
kand kis ksubject kto ktaxes kand kpenalties. kA kplan ksponsor kmust kwithhold k20% kof
kthe kdistribution kfor kfederal ktaxes kon ka krollover. kOnce kthe krollover ktakes kplace
kto kthe knew kcustodian, kthe kremainder kof kthe kdistribution kis kreleased.
