Florida 2-15 Insurance License Exam
Study online at https://quizlet.com/_6maqpc
1. Accumulation units are converted into annuity units:: at the time of annuity
payout.
2. A group life insurance plan in which the employer pays the entire premium
is known as a ________________ plan.: noncontributory
3. If a disabled worker covered under Social Security disability benefits re-
covers and then is disabled again within five years, a new waiting period is
required before benefits begin again.: FALSE
4. Robert had an accident and qualified for Social Security disability. Given the
waiting period, when will Robert begin to receive benefits?: After 5 months
5. The Insuring Clause includes all of the following EXCEPT the: beneficiary
6. Mutualization occurs when a stock company turns to a __________ compa-
ny.: mutual
7. To provide a safeguard for insureds, most major medical policies contain
a ____________ feature that limits the insured's out-of-pocket expenses.: -
stop-loss
8. Tom is a newly appointed life, health and variable annuity agent with
Acme Insurance Agency. He is writing his first insurance policy on his broth-
er-in-law's life. Who does Tom legally represent in this transaction?: Acme
Insurance Agency
9. An insurance clause is a distinct article in a formal document that establish-
es the rules in the contract that _____________________ must adhere to.: both
the insurer and the insured
10. "ACC" refers to the type of disability that prevents someone from perform-
ing the job he was performing prior to the disability.: FALSE
11. Which statement is CORRECT about the Department of Financial Services'
right to examine an agent's records?: An examination can be conducted at any
time to discover any unfair trade practices.
12. Bill gives Jim a couple of tickets to a Florida Gators game to thank him for
purchasing a policy. This is an example of:: rebating
13. ____________ term insurance provides a level amount of protection for a
specified period, after which the policy expires.: Level
14. Business overhead expense (B.O.E.) insurance does not provide benefits
to cover the business owner's salary.: TRUE
15. Level, decreasing, and increasing insurance are all basic forms of
____________ insurance.: term
16. Hospice services are covered under Medicare Part A.: TRUE
17. Under Florida law, group health insurers must offer mental and nervous
disorder insurance to policyowners.: TRUE
1/9
, Florida 2-15 Insurance License Exam
Study online at https://quizlet.com/_6maqpc
18. Deductibles under a group major medical plan usually run from $250 to
$500; whereas individual health plans usually run from:: $1,000 plus.
19. Every HMO subscriber must receive a benefits package that includes a
copy of the HMO contract and certificate, and:: a member's handbook.
20. A life insurance policy will not be reinstated if it has been:: surrendered for
its cash value.
21. Which of the following is NOT a type of permanent life insurance?: Term
Life
22. In Florida, a ______________ must sign for and on behalf of a minor
purchasing life insurance.: parent or legal guardian
23. When an agent spreads a false story that damages a competing agent's
reputation, the offense is called:: defamation
24. __________ 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.: Churning
25. Once an organization has filed an application to conduct insurance busi-
ness, the Office of Insurance Regulation will begin its review for issuing
a(n):: Certificate of Authority
26. Florida law requires health insurance policies and HMO contracts to pro-
vide coverage for all medically necessary equipment, supplies and services
used to treat diabetes when the patient's physician certifies that they are
medically necessary.: TRUE
27. If an insurance company reimburses the insured for medical expenses, can
the insured deduct that amount from their federal income tax?: NO
28. Which of the following is NOT a benefit to key person insurance?: Wage
control
29. The "currently insured" classification under Social Security limits sur-
vivorship benefits. In order to be eligible for Social Security survivor benefits,
a person must have earned _________________ period ending with the quarter
in which the worker died.: six credits during the 13-quarter
30. A prospectus for an individual variable insurance contract:: must accompa-
ny every sales presentation.
31. Most group disability policies use the ___________ method to calculate
the amount of the insured's earnings prior to the accident.: percentage
32. Group health plans that are issued on an experience-rated basis can
make both premium reductions and premium increases retroactive for 12
months.: FALSE
33. Employees may be classified for group life insurance in all of the following
categories EXCEPT which?: Gender
2/9
Study online at https://quizlet.com/_6maqpc
1. Accumulation units are converted into annuity units:: at the time of annuity
payout.
2. A group life insurance plan in which the employer pays the entire premium
is known as a ________________ plan.: noncontributory
3. If a disabled worker covered under Social Security disability benefits re-
covers and then is disabled again within five years, a new waiting period is
required before benefits begin again.: FALSE
4. Robert had an accident and qualified for Social Security disability. Given the
waiting period, when will Robert begin to receive benefits?: After 5 months
5. The Insuring Clause includes all of the following EXCEPT the: beneficiary
6. Mutualization occurs when a stock company turns to a __________ compa-
ny.: mutual
7. To provide a safeguard for insureds, most major medical policies contain
a ____________ feature that limits the insured's out-of-pocket expenses.: -
stop-loss
8. Tom is a newly appointed life, health and variable annuity agent with
Acme Insurance Agency. He is writing his first insurance policy on his broth-
er-in-law's life. Who does Tom legally represent in this transaction?: Acme
Insurance Agency
9. An insurance clause is a distinct article in a formal document that establish-
es the rules in the contract that _____________________ must adhere to.: both
the insurer and the insured
10. "ACC" refers to the type of disability that prevents someone from perform-
ing the job he was performing prior to the disability.: FALSE
11. Which statement is CORRECT about the Department of Financial Services'
right to examine an agent's records?: An examination can be conducted at any
time to discover any unfair trade practices.
12. Bill gives Jim a couple of tickets to a Florida Gators game to thank him for
purchasing a policy. This is an example of:: rebating
13. ____________ term insurance provides a level amount of protection for a
specified period, after which the policy expires.: Level
14. Business overhead expense (B.O.E.) insurance does not provide benefits
to cover the business owner's salary.: TRUE
15. Level, decreasing, and increasing insurance are all basic forms of
____________ insurance.: term
16. Hospice services are covered under Medicare Part A.: TRUE
17. Under Florida law, group health insurers must offer mental and nervous
disorder insurance to policyowners.: TRUE
1/9
, Florida 2-15 Insurance License Exam
Study online at https://quizlet.com/_6maqpc
18. Deductibles under a group major medical plan usually run from $250 to
$500; whereas individual health plans usually run from:: $1,000 plus.
19. Every HMO subscriber must receive a benefits package that includes a
copy of the HMO contract and certificate, and:: a member's handbook.
20. A life insurance policy will not be reinstated if it has been:: surrendered for
its cash value.
21. Which of the following is NOT a type of permanent life insurance?: Term
Life
22. In Florida, a ______________ must sign for and on behalf of a minor
purchasing life insurance.: parent or legal guardian
23. When an agent spreads a false story that damages a competing agent's
reputation, the offense is called:: defamation
24. __________ 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.: Churning
25. Once an organization has filed an application to conduct insurance busi-
ness, the Office of Insurance Regulation will begin its review for issuing
a(n):: Certificate of Authority
26. Florida law requires health insurance policies and HMO contracts to pro-
vide coverage for all medically necessary equipment, supplies and services
used to treat diabetes when the patient's physician certifies that they are
medically necessary.: TRUE
27. If an insurance company reimburses the insured for medical expenses, can
the insured deduct that amount from their federal income tax?: NO
28. Which of the following is NOT a benefit to key person insurance?: Wage
control
29. The "currently insured" classification under Social Security limits sur-
vivorship benefits. In order to be eligible for Social Security survivor benefits,
a person must have earned _________________ period ending with the quarter
in which the worker died.: six credits during the 13-quarter
30. A prospectus for an individual variable insurance contract:: must accompa-
ny every sales presentation.
31. Most group disability policies use the ___________ method to calculate
the amount of the insured's earnings prior to the accident.: percentage
32. Group health plans that are issued on an experience-rated basis can
make both premium reductions and premium increases retroactive for 12
months.: FALSE
33. Employees may be classified for group life insurance in all of the following
categories EXCEPT which?: Gender
2/9
