Life and Health Insurance (Florida) Exam FX
Simulation Questions with Correct Verified Answers
2026/2027 Updated NEW!!
Which of the following employees insured under a group life plan would be allowed to convert to
individual insurance of the same coverage once the plan is terminated?
a) Those who have worked in the company for at least 3 years
b) Those who have dependents
c) Those who have no history of claims
d) Those who have been insured under the plan for at least 5 years- Correct Answer- d) Those who have
been insured under the plan for at least 5 years
How are state Insurance Guaranty Associations funded?
a) By NAIC
b) By the Government
c) By their members - authorized insurers
d) By the Department of Insurance- Correct Answer- c) By their members - authorized insurers
Which of the following would be an example of an unfair claims settlement practice?
a) Suggesting negotiations in settling the claim
b) Denying a claim within 10 day of receipt of proof of loss
c) Failing to acknowledge a claim within 30 days
d) Offering a quick settlement of a claim- Correct Answer- c) Failing to acknowledge a claim within 30
days
pg. 1
, According to the rights of renewability rider for cancellable policies, all of the following are correct about
the cancellation of an individual insurance policy EXCEPT
a) Unearned premiums are retained by the insurance company.
b) The insurer must provide the insured a written notice of the cancellation.
c) Claims incurred before cancellation must be honored.
d) An insurance company may cancel the policy at any time.- Correct Answer- a) Unearned premiums are
retained by the insurance company.
Another term used to describe "no deductible" is
a) Comprehensive.
b) Total coverage.
c) Immediate cooperative
d) First-dollar basis.- Correct Answer- d) First-dollar basis.
What is an important feature of a dental expense insurance plan that is NOT typically found in a medical
expense insurance plan?
a) A low monthly premium
b) Low cost deductibles
c) Diagnostic and preventive care
d) A broad coverage area- Correct Answer- c) Diagnostic and preventive care
Variable Life insurance is based on what kind of premium?
a) Graded
b) Level fixed
c) Increasing
d) Decreasing- Correct Answer- b) Level fixed
Which of the following types of LTC is NOT provided in an institutional setting?
a) Intermediate care
pg. 2
Simulation Questions with Correct Verified Answers
2026/2027 Updated NEW!!
Which of the following employees insured under a group life plan would be allowed to convert to
individual insurance of the same coverage once the plan is terminated?
a) Those who have worked in the company for at least 3 years
b) Those who have dependents
c) Those who have no history of claims
d) Those who have been insured under the plan for at least 5 years- Correct Answer- d) Those who have
been insured under the plan for at least 5 years
How are state Insurance Guaranty Associations funded?
a) By NAIC
b) By the Government
c) By their members - authorized insurers
d) By the Department of Insurance- Correct Answer- c) By their members - authorized insurers
Which of the following would be an example of an unfair claims settlement practice?
a) Suggesting negotiations in settling the claim
b) Denying a claim within 10 day of receipt of proof of loss
c) Failing to acknowledge a claim within 30 days
d) Offering a quick settlement of a claim- Correct Answer- c) Failing to acknowledge a claim within 30
days
pg. 1
, According to the rights of renewability rider for cancellable policies, all of the following are correct about
the cancellation of an individual insurance policy EXCEPT
a) Unearned premiums are retained by the insurance company.
b) The insurer must provide the insured a written notice of the cancellation.
c) Claims incurred before cancellation must be honored.
d) An insurance company may cancel the policy at any time.- Correct Answer- a) Unearned premiums are
retained by the insurance company.
Another term used to describe "no deductible" is
a) Comprehensive.
b) Total coverage.
c) Immediate cooperative
d) First-dollar basis.- Correct Answer- d) First-dollar basis.
What is an important feature of a dental expense insurance plan that is NOT typically found in a medical
expense insurance plan?
a) A low monthly premium
b) Low cost deductibles
c) Diagnostic and preventive care
d) A broad coverage area- Correct Answer- c) Diagnostic and preventive care
Variable Life insurance is based on what kind of premium?
a) Graded
b) Level fixed
c) Increasing
d) Decreasing- Correct Answer- b) Level fixed
Which of the following types of LTC is NOT provided in an institutional setting?
a) Intermediate care
pg. 2
