Florida Health and Life Insurance Exam
FLORIDA HEALTH AND LIFE INSURANCE EXAM NEWEST ACTUAL
EXAM COMPLETE 250 QUESTIONS AND CORRECT DETAILED
ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+||BRAND
NEW VERSION!!
If an individual has an Accidental Death and Dismemberment policy and dies, and
autopsy can be performed in all these situations, EXCEPT: - Correct Answer-When
the state prohibits this by law
P is a producer who notices 5 questions on a life application were not answered.
What actions should P take? - Correct Answer-Set up a meeting with the applicant
to answer the remaining questions
A disability elimination period is best described as a: - Correct Answer-time
deductible
Which type of insurance company allows their policyowners to elect a governing
body? - Correct Answer-Mutual
Two partners own equal shares in a business worth a total of $1,000,000. If they
both commit to the purchase of a life insurance policy that will fund a Buy-Sell
Agreement, which of the following is TRUE? - Correct Answer-Each partner owns a
$500,000 policy on their partner's life
N is a student pilot with a large life insurance policy. Which of these features
would limit the insurer's obligation in the event N was killed while flying as a
student pilot? - Correct Answer-Exclusion
1|Page
, Florida Health and Life Insurance Exam
A policyowner's rights are limited under which beneficiary designation? - Correct
Answer-Irrecovable
What kind of Accidental Death and Dismemberment (AD&D) insurance beneficiary
requires his/her consent when a change of beneficiary is made? - Correct Answer-
Irrevocable beneficiary
Which type of contract liquidates an estate through recurrent payments? - Correct
Answer-Annuity
Under Florida law, a variable annuity policyowner must be notified of the
accumulated value of the contract - Correct Answer-once each year
J let her life insurance policy lapse 8 months ago due to nonpayment. She can
reestablish coverage under which of the following provisions? - Correct Answer-
Reinstatement provision
Which is the purpose of the Life and Health Insurance Guaranty Association? -
Correct Answer-Protects policyowners against insolvent insurance companies
Which of the following Dividend options results in taxable income to the
policyowner? - Correct Answer-Accumulation at Interest
Accidental Death coverage is provided to commercial airline passengers in which
of the following types of policies? - Correct Answer-Blanket Accident policy
2|Page
, Florida Health and Life Insurance Exam
A life policy with a death benefit that can fluctuate according to the performance
of its underlying investment portfolio is referred to as: - Correct Answer-Variable
Life
When replacing or exchanging an annuity, the agent must disclose to the
annuitant - Correct Answer-the possible tax ramifications as a result of the
transaction
When an insurance company sends a policy to the insured with an attached
application, the element that makes the application part of the contract between
the insured and the insurer is called the: - Correct Answer-Entire Contract
provision
Which of the following health policy provisions states that the producer does NOT
have the authority to change the policy or waive any of its provisions? - Correct
Answer-Entire Contract
The waiting period for a pre-existing condition under a Medicare Supplement
policy may NOT go beyond - Correct Answer-6 months
Many small business owners worry how their business would survive financially if
the owner becomes disabled. The policy which BEST addresses this concern is: -
Correct Answer-Business Overhead Expense
3|Page
, Florida Health and Life Insurance Exam
K has a health policy that must be renewed by the insurer and the premiums can
only be increased if applied to the entire class of insureds. This type of policy is
considered: - Correct Answer-guaranteed renewable
Information obtained from a phone conversation to the proposed insured can be
found in which of these reports? - Correct Answer-inspection report
On a life insurance policy, who is qualified to change the beneficiary designation? -
Correct Answer-Policyowner
An example of false advertising would be - Correct Answer-An insurer
exaggerating its dividends in a magazine advertisement
Which of the following statements regarding a Tax Sheltered Annuity (TSA) is
INCORRECT? - Correct Answer-The income from the TSA is received income tax-
free
According to Florida law, a Group Life insurance policy requires a minimum of how
many insureds? - Correct Answer-No minimum
A young, married teacher has two children and owns a Whole Life policy. If the
teacher wants an Increasing Death Benefit to protect against inflation, the teacher
should select which of the following Dividend Options? - Correct Answer-Paid-Up
Additional Insurance
What type of renewability guarantees premium rates and renewability? - Correct
Answer-Noncancellable
4|Page
FLORIDA HEALTH AND LIFE INSURANCE EXAM NEWEST ACTUAL
EXAM COMPLETE 250 QUESTIONS AND CORRECT DETAILED
ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+||BRAND
NEW VERSION!!
If an individual has an Accidental Death and Dismemberment policy and dies, and
autopsy can be performed in all these situations, EXCEPT: - Correct Answer-When
the state prohibits this by law
P is a producer who notices 5 questions on a life application were not answered.
What actions should P take? - Correct Answer-Set up a meeting with the applicant
to answer the remaining questions
A disability elimination period is best described as a: - Correct Answer-time
deductible
Which type of insurance company allows their policyowners to elect a governing
body? - Correct Answer-Mutual
Two partners own equal shares in a business worth a total of $1,000,000. If they
both commit to the purchase of a life insurance policy that will fund a Buy-Sell
Agreement, which of the following is TRUE? - Correct Answer-Each partner owns a
$500,000 policy on their partner's life
N is a student pilot with a large life insurance policy. Which of these features
would limit the insurer's obligation in the event N was killed while flying as a
student pilot? - Correct Answer-Exclusion
1|Page
, Florida Health and Life Insurance Exam
A policyowner's rights are limited under which beneficiary designation? - Correct
Answer-Irrecovable
What kind of Accidental Death and Dismemberment (AD&D) insurance beneficiary
requires his/her consent when a change of beneficiary is made? - Correct Answer-
Irrevocable beneficiary
Which type of contract liquidates an estate through recurrent payments? - Correct
Answer-Annuity
Under Florida law, a variable annuity policyowner must be notified of the
accumulated value of the contract - Correct Answer-once each year
J let her life insurance policy lapse 8 months ago due to nonpayment. She can
reestablish coverage under which of the following provisions? - Correct Answer-
Reinstatement provision
Which is the purpose of the Life and Health Insurance Guaranty Association? -
Correct Answer-Protects policyowners against insolvent insurance companies
Which of the following Dividend options results in taxable income to the
policyowner? - Correct Answer-Accumulation at Interest
Accidental Death coverage is provided to commercial airline passengers in which
of the following types of policies? - Correct Answer-Blanket Accident policy
2|Page
, Florida Health and Life Insurance Exam
A life policy with a death benefit that can fluctuate according to the performance
of its underlying investment portfolio is referred to as: - Correct Answer-Variable
Life
When replacing or exchanging an annuity, the agent must disclose to the
annuitant - Correct Answer-the possible tax ramifications as a result of the
transaction
When an insurance company sends a policy to the insured with an attached
application, the element that makes the application part of the contract between
the insured and the insurer is called the: - Correct Answer-Entire Contract
provision
Which of the following health policy provisions states that the producer does NOT
have the authority to change the policy or waive any of its provisions? - Correct
Answer-Entire Contract
The waiting period for a pre-existing condition under a Medicare Supplement
policy may NOT go beyond - Correct Answer-6 months
Many small business owners worry how their business would survive financially if
the owner becomes disabled. The policy which BEST addresses this concern is: -
Correct Answer-Business Overhead Expense
3|Page
, Florida Health and Life Insurance Exam
K has a health policy that must be renewed by the insurer and the premiums can
only be increased if applied to the entire class of insureds. This type of policy is
considered: - Correct Answer-guaranteed renewable
Information obtained from a phone conversation to the proposed insured can be
found in which of these reports? - Correct Answer-inspection report
On a life insurance policy, who is qualified to change the beneficiary designation? -
Correct Answer-Policyowner
An example of false advertising would be - Correct Answer-An insurer
exaggerating its dividends in a magazine advertisement
Which of the following statements regarding a Tax Sheltered Annuity (TSA) is
INCORRECT? - Correct Answer-The income from the TSA is received income tax-
free
According to Florida law, a Group Life insurance policy requires a minimum of how
many insureds? - Correct Answer-No minimum
A young, married teacher has two children and owns a Whole Life policy. If the
teacher wants an Increasing Death Benefit to protect against inflation, the teacher
should select which of the following Dividend Options? - Correct Answer-Paid-Up
Additional Insurance
What type of renewability guarantees premium rates and renewability? - Correct
Answer-Noncancellable
4|Page
