1|Page
Florida Health and Life Insurance Exam (2025/2026) |
Accurate Real Exam Questions with Verified Answers |
DFS Test Bank|| LATEST EXAM!!!
Insured - Answer-The person covered by the insurance
policy.
Rider - Answer-A written modification attached to a policy
that increases or decreases coverage and/or premiums.
What is a unilateral contract? - Answer-A contract in which
only one of the parties is legally bound to fulfill its
obligations.
What law protects consumers from the circulation of
inaccurate or obsolete information? - Answer-The Fair
Credit Reporting Act.
What are the three types of agent authority? - Answer-
Implied, Express, and Apparent.
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Agent - Answer-An individual who is licensed to sell,
negotiate, or effect insurance contracts on behalf of the
insurer.
What is name of the process that insurance companies
use to determine whether or not an applicant is insurable?
- Answer-Underwriting
The requirement that agents must account for and
promptly remit all insurance funds collected is known as
what type of agent responsibility? - Answer-Fiduciary
What is a third-party ownership? - Answer-An insurance
arrangement in which the policy owner and the insured are
not the same person.
Suitability - Answer-Factors that determine if an insurance
product is appropriate for a particular customer.
Premium - Answer-A payment by the policy owner to the
insurance company to keep the policy in force.
,3|Page
Disclosure - Answer-Providing sufficient information to
help someone make informed decision.
An agent offer a client free tickets to a sporting event in
exchange for the purchase of an insurance policy. What is
the agent guilty of? - Answer-Rebating
If an insurer meets the states financial requirements and is
approved to transact business in the state, it is considered
what type of insurer? - Answer-Authorized
What information are the members of the medical
information bureau required to report? - Answer-Adverse
medical information about the applicants or insureds.
What type of beneficiary can be changed at any point by
the policy owner? - Answer-Revocable
What document describes the specific information about a
policy? - Answer-Policy Summary
What is the term for the causes of loss insured against in
an insurance policy? - Answer-Peril
, 4|Page
Whom does an insurance agent represent? - Answer-
Insurance Company
What is an unfair trade practice? - Answer-Any fraudulent,
deceptive, or dishonest business practice that is prohibited
by statutes and regulations.
Insurer - Answer-The company that issues an insurance
policy.
Peril - Answer-Cause of loss
Contract of Adhesion - Answer-A contract prepared by one
party that must be accepted as written or be rejected by
the other party.
What are the four elements of an insurance contract? -
Answer-Agreement (Offer and Acceptance), consideration,
competent parties, and legal purpose.
Florida Health and Life Insurance Exam (2025/2026) |
Accurate Real Exam Questions with Verified Answers |
DFS Test Bank|| LATEST EXAM!!!
Insured - Answer-The person covered by the insurance
policy.
Rider - Answer-A written modification attached to a policy
that increases or decreases coverage and/or premiums.
What is a unilateral contract? - Answer-A contract in which
only one of the parties is legally bound to fulfill its
obligations.
What law protects consumers from the circulation of
inaccurate or obsolete information? - Answer-The Fair
Credit Reporting Act.
What are the three types of agent authority? - Answer-
Implied, Express, and Apparent.
,2|Page
Agent - Answer-An individual who is licensed to sell,
negotiate, or effect insurance contracts on behalf of the
insurer.
What is name of the process that insurance companies
use to determine whether or not an applicant is insurable?
- Answer-Underwriting
The requirement that agents must account for and
promptly remit all insurance funds collected is known as
what type of agent responsibility? - Answer-Fiduciary
What is a third-party ownership? - Answer-An insurance
arrangement in which the policy owner and the insured are
not the same person.
Suitability - Answer-Factors that determine if an insurance
product is appropriate for a particular customer.
Premium - Answer-A payment by the policy owner to the
insurance company to keep the policy in force.
,3|Page
Disclosure - Answer-Providing sufficient information to
help someone make informed decision.
An agent offer a client free tickets to a sporting event in
exchange for the purchase of an insurance policy. What is
the agent guilty of? - Answer-Rebating
If an insurer meets the states financial requirements and is
approved to transact business in the state, it is considered
what type of insurer? - Answer-Authorized
What information are the members of the medical
information bureau required to report? - Answer-Adverse
medical information about the applicants or insureds.
What type of beneficiary can be changed at any point by
the policy owner? - Answer-Revocable
What document describes the specific information about a
policy? - Answer-Policy Summary
What is the term for the causes of loss insured against in
an insurance policy? - Answer-Peril
, 4|Page
Whom does an insurance agent represent? - Answer-
Insurance Company
What is an unfair trade practice? - Answer-Any fraudulent,
deceptive, or dishonest business practice that is prohibited
by statutes and regulations.
Insurer - Answer-The company that issues an insurance
policy.
Peril - Answer-Cause of loss
Contract of Adhesion - Answer-A contract prepared by one
party that must be accepted as written or be rejected by
the other party.
What are the four elements of an insurance contract? -
Answer-Agreement (Offer and Acceptance), consideration,
competent parties, and legal purpose.
