Florida Health and Life Insurance DFS Exam Test Bank
(2025–2026) – Complete Real Exam Questions and Verified
Answers
Introduction:
This document provides a complete and up-to-date collection of
Florida Health and Life Insurance exam questions with verified,
detailed answers for the DFS licensing test (2025–2026). It covers
key topics such as life insurance provisions, annuities, disability
income, Medicare, COBRA, group and individual health insurance,
underwriting, and Florida-specific insurance regulations. Ideal for
students and professionals preparing for the Florida Department of
Financial Services insurance exams, this test bank serves as a
comprehensive practice and study resource aligned with current state
requirements.
Exam Questions and Answers
M had an annual life insurance premium payment due January 1.
She died January 10 without making the premium payment. What
action will the insurer take? --- correct precise answer ---Pay face
amount minus the past due premium
Which product would best serve a retired individual looking to
invest a lump-sum of money through an insurance company? ---
correct precise answer ---annuity
,Which of the following factors affects the amount of monthly
disability benefits payable under Social Security? --- correct precise
answer ---The amount of benefits availible from other sources
Which of the following statements regarding a Tax Sheltered
Annuity (TSA) is INCORRECT? --- correct precise answer ---the
income from the TSA is recieved tax-free
M completes an application for life insurance but does not pay the
initial premium. All of these actions must occur before M's policy
goes into effect, EXCEPT: --- correct precise answer ---Free-look
period has expired
W gave W's age as 50 when W purchased a Life policy. At the time
of W's death seven years later, the company discovered W's true
age at issue had been 59. What would the normal procedure be
under the misstatement of age provision in regard to the payment
of the death claim? --- correct precise answer ---The proceeds
would be reduced based on whatever the premium would have been
if purchased at age 59
If an insurance company issues a Disability Income policy that it
cannot cancel or for which it cannot increase premiums, the type of
renewability that best desribes this policy is called: --- correct
precise answer ---noncancellable
,Which of the following is NOT included in an annuity contract? ---
correct precise answer ---AD&D rider
Disability policies do NOT normally pay for disabilities arising from
which of the following? --- correct precise answer ---War
All of these are considered sources of underwriting information
about an applicant, EXCEPT: --- correct precise answer ---Rating
Services
Taking receipt of premiums and holding them for the insurance
company is an example of: --- correct precise answer ---Fiduciary
Responsibillity
The guarantee of insurability option provides a long-term care
policyowner the ability to: --- correct precise answer ---buy
additional coverage at a later date
Employers with less than __ employees are affected by Florida's
Health Insurance Coverage Continuation Act (Mini COBRA). ---
correct precise answer ---20
Which of the following health insurance policy provisions specifies
the health care services a policy will provide? --- correct precise
answer ---Insuring Clause
, What benefit does the Payor clause on a Juvenile Life policy
provide? --- correct precise answer ---premiums are waved if the
payor becomes disabled
In Florida, most life insurance policies have a contestability period
of --- correct precise answer ---2 Years
Z owns a Disability Income policy with a 30-day Elimination period.
Z contracts pneumonia that leaves him unable to work from January
1 until January 15. Z then becomes disabled from an accident on
February 1 and the disability lasts until July 1 the same year. Z will
become eligible to receive benefits starting on: --- correct precise
answer ---March 1
The elimination period of the time between the onset of a disability,
and the time you are eligibe for benefits. It is best thought of as a
deductible period for your policy. After a 30-Day Elimination
period, Z will become eligible for recieving benefits on March 1.
When does a Guaranteed Insurability Rider allow the insured to buy
additional coverage? --- correct precise answer ---at future dates
specifies in the contrac with no evidence of insurability required
(2025–2026) – Complete Real Exam Questions and Verified
Answers
Introduction:
This document provides a complete and up-to-date collection of
Florida Health and Life Insurance exam questions with verified,
detailed answers for the DFS licensing test (2025–2026). It covers
key topics such as life insurance provisions, annuities, disability
income, Medicare, COBRA, group and individual health insurance,
underwriting, and Florida-specific insurance regulations. Ideal for
students and professionals preparing for the Florida Department of
Financial Services insurance exams, this test bank serves as a
comprehensive practice and study resource aligned with current state
requirements.
Exam Questions and Answers
M had an annual life insurance premium payment due January 1.
She died January 10 without making the premium payment. What
action will the insurer take? --- correct precise answer ---Pay face
amount minus the past due premium
Which product would best serve a retired individual looking to
invest a lump-sum of money through an insurance company? ---
correct precise answer ---annuity
,Which of the following factors affects the amount of monthly
disability benefits payable under Social Security? --- correct precise
answer ---The amount of benefits availible from other sources
Which of the following statements regarding a Tax Sheltered
Annuity (TSA) is INCORRECT? --- correct precise answer ---the
income from the TSA is recieved tax-free
M completes an application for life insurance but does not pay the
initial premium. All of these actions must occur before M's policy
goes into effect, EXCEPT: --- correct precise answer ---Free-look
period has expired
W gave W's age as 50 when W purchased a Life policy. At the time
of W's death seven years later, the company discovered W's true
age at issue had been 59. What would the normal procedure be
under the misstatement of age provision in regard to the payment
of the death claim? --- correct precise answer ---The proceeds
would be reduced based on whatever the premium would have been
if purchased at age 59
If an insurance company issues a Disability Income policy that it
cannot cancel or for which it cannot increase premiums, the type of
renewability that best desribes this policy is called: --- correct
precise answer ---noncancellable
,Which of the following is NOT included in an annuity contract? ---
correct precise answer ---AD&D rider
Disability policies do NOT normally pay for disabilities arising from
which of the following? --- correct precise answer ---War
All of these are considered sources of underwriting information
about an applicant, EXCEPT: --- correct precise answer ---Rating
Services
Taking receipt of premiums and holding them for the insurance
company is an example of: --- correct precise answer ---Fiduciary
Responsibillity
The guarantee of insurability option provides a long-term care
policyowner the ability to: --- correct precise answer ---buy
additional coverage at a later date
Employers with less than __ employees are affected by Florida's
Health Insurance Coverage Continuation Act (Mini COBRA). ---
correct precise answer ---20
Which of the following health insurance policy provisions specifies
the health care services a policy will provide? --- correct precise
answer ---Insuring Clause
, What benefit does the Payor clause on a Juvenile Life policy
provide? --- correct precise answer ---premiums are waved if the
payor becomes disabled
In Florida, most life insurance policies have a contestability period
of --- correct precise answer ---2 Years
Z owns a Disability Income policy with a 30-day Elimination period.
Z contracts pneumonia that leaves him unable to work from January
1 until January 15. Z then becomes disabled from an accident on
February 1 and the disability lasts until July 1 the same year. Z will
become eligible to receive benefits starting on: --- correct precise
answer ---March 1
The elimination period of the time between the onset of a disability,
and the time you are eligibe for benefits. It is best thought of as a
deductible period for your policy. After a 30-Day Elimination
period, Z will become eligible for recieving benefits on March 1.
When does a Guaranteed Insurability Rider allow the insured to buy
additional coverage? --- correct precise answer ---at future dates
specifies in the contrac with no evidence of insurability required
