FLORIDA 2-15 XCEL LAWS & RULES
Questions and Answers
1. Under Florida law, a variable annuity policyowner must be
notified of the accumulated value of the contract
Answer once each year
2. a variable life insurance agent must be licensed and appointed as
a life and variable contract agent, as well as a(n)
Answer broker dealer
3. Under Florida law, which of the following provisions is NOT
required in a Medicare Supplement policy?
Answer limitation on pre-existing conditions for up to 12 months
4. asset protection can be provided by a long term care partnership
policy if the policyholder qualifies for
Answer Medicaid
5. a licensed may be denied, suspended, or revoked if the license
Answer is found guilty of misrepresentation
6. When replacing or exchanging an annuity, the agent must
disclose to the annuitant
,Answer the possible tax ramifications as a result of the transaction
7. Which two entities regulate variable annuities?
Answer Department of Financial Services; and Securities Exchange Commission
8. In Florida, the underwriting and issuance of a master group
health policy requires that all employees
Answer are eligible to participate, regardless of their individual health history
9. an insurance company can contest a life insurance contract due
to application fraud within
Answer 2 years
10. S takes out a health insurance policy which contains a
provision that states that the agent does not have the authority to
change the policy or waive any of its provisions. Which health policy
provision is this?
Answer entire contract
11. a life insurance policys grace period entitles the insured a
period of no less than days to make the premium payment
Answer 30
12. in florida, agents are allowed to engage in rebating if
Answer offered to all insureds in the same actuarial class
, 13. according to florida law, which of the following statements
accurately de- scribes an admitted mail order insurance company
Answer it may solicit insurance business by mail without the assistance of a licensed
agent
14. a day notice to the policyholder is required for any health
insurer that wishes to cancel a health insurance policy
Answer 45
15. under a life insurance policy, the
has the authority to name the benefi- ciary
Answer owner
16. which of the following is an example of an unfair trade practice
Answer coercion
17. a licensed agent must be appointed by an insurance
company to solicit insurance in florida. the agents license will
terminate if a certain period of time lapses without being appointed.
how long is this period of time?
Answer 48 months
18. How can an agent-in-charge have more than one location?
Questions and Answers
1. Under Florida law, a variable annuity policyowner must be
notified of the accumulated value of the contract
Answer once each year
2. a variable life insurance agent must be licensed and appointed as
a life and variable contract agent, as well as a(n)
Answer broker dealer
3. Under Florida law, which of the following provisions is NOT
required in a Medicare Supplement policy?
Answer limitation on pre-existing conditions for up to 12 months
4. asset protection can be provided by a long term care partnership
policy if the policyholder qualifies for
Answer Medicaid
5. a licensed may be denied, suspended, or revoked if the license
Answer is found guilty of misrepresentation
6. When replacing or exchanging an annuity, the agent must
disclose to the annuitant
,Answer the possible tax ramifications as a result of the transaction
7. Which two entities regulate variable annuities?
Answer Department of Financial Services; and Securities Exchange Commission
8. In Florida, the underwriting and issuance of a master group
health policy requires that all employees
Answer are eligible to participate, regardless of their individual health history
9. an insurance company can contest a life insurance contract due
to application fraud within
Answer 2 years
10. S takes out a health insurance policy which contains a
provision that states that the agent does not have the authority to
change the policy or waive any of its provisions. Which health policy
provision is this?
Answer entire contract
11. a life insurance policys grace period entitles the insured a
period of no less than days to make the premium payment
Answer 30
12. in florida, agents are allowed to engage in rebating if
Answer offered to all insureds in the same actuarial class
, 13. according to florida law, which of the following statements
accurately de- scribes an admitted mail order insurance company
Answer it may solicit insurance business by mail without the assistance of a licensed
agent
14. a day notice to the policyholder is required for any health
insurer that wishes to cancel a health insurance policy
Answer 45
15. under a life insurance policy, the
has the authority to name the benefi- ciary
Answer owner
16. which of the following is an example of an unfair trade practice
Answer coercion
17. a licensed agent must be appointed by an insurance
company to solicit insurance in florida. the agents license will
terminate if a certain period of time lapses without being appointed.
how long is this period of time?
Answer 48 months
18. How can an agent-in-charge have more than one location?
