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XCEL Florida Life And Health Exam
Simulator Includes Accurate And Verified
Questions Tailored For Life, Health,
Property, And Casualty Insurance Licensing
Exams Across Various States. It Mirrors The
Actual Testing Experience With Modules On
Insurance
Which Unfair Trade Practice involves making a false
statement on an insurance application in order to receive
money from an insurer? - . . ANSWER ✔
✔Misrepresentation
Who owns a stock company? - . . ANSWER ✔ ✔A stock
insurance company is owned by its stockholders.
In Florida, which of the following is considered an Unfair
Trade Practice? - . . ANSWER ✔ ✔Coercion
Which of these options can an individual use their medical
flexible spending account to pay for? - . . ANSWER ✔
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✔Prescription drugs are an allowable expense when paid
for by a medical flexible spending account.
Which of the following features of a group Term Life policy
enables an individual to leave the group and continue his
or her insurance without providing evidence of
insurability? - . . ANSWER ✔ ✔The conversion privilege
allows an individual to leave the group term plan and
continue his or her insurance without providing evidence
of insurability.
An example of false advertising would be - . . ANSWER ✔
✔An insurer exaggerating its dividends in a magazine
advertisement
Q purchases a $500,000 life insurance policy and pays
$900 in premiums over the first six months. Q dies
suddenly and the beneficiary is paid $500,000. This
exchange of unequal values reflects which of the following
insurance contract features? - . . ANSWER ✔ ✔Aleatory.
Insurance contracts are aleatory in that the amount the
insured will pay in premiums is unequal to the amount
that the insurer will pay in the event of a loss.
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An example of an unfair trade practice is - . . ANSWER ✔
✔Making a material misrepresentation to an insured is
considered to be an unfair trade practice.
How would a contingent beneficiary receive the policy
proceeds in an Accidental Death and Dismemberment
(AD&D) policy? - . . ANSWER ✔ ✔A contingent
beneficiary will receive the policy proceeds if the primary
beneficiary dies before the insured's death.
Which of these terms accurately defines an underwriter's
assessment of information on a life insurance application?
- . . ANSWER ✔ ✔Risk classification.
Underwriting, another term for risk selection, is the
process of reviewing the many characteristics that make
up the risk profile of an applicant to determine if the
applicant is insurable and, if so, at standard or
substandard rates.
T applies for a life insurance policy and is told by the
producer that the insurer is bound to the coverage as of
the date of the application or medical examination,
whichever is later. Assuming that T is an acceptable risk,
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what item is given to T? - . . ANSWER ✔ ✔Conditional
receipt.
A conditional receipt binds the insurer to coverage as of
the date of the application or medical exam, provided the
proposed insured is determined to be an acceptable risk.
What is required in the Florida Employee Health Care
Access Act? - . . ANSWER ✔ ✔Small group benefit plans
are to be issued on a "guarantee-issue" basis
P and Q are married and have three children. P is the
primary beneficiary on Q's Accidental Death and
Dismemberment (AD&D) policy and Q's sister R is the
contingent beneficiary. P, Q, and R are involved in a car
accident and Q and R are killed instantly. The Accidental
Death benefits will be paid to - . . ANSWER ✔ ✔P.
In this situation, benefits will be paid to P because P
survived the accident and is the primary beneficiary.
The health insurance program which is administered by
each state and funded by both the federal and state
governments is called - . . ANSWER ✔ ✔Medicaid- is
XCEL Florida Life And Health Exam
Simulator Includes Accurate And Verified
Questions Tailored For Life, Health,
Property, And Casualty Insurance Licensing
Exams Across Various States. It Mirrors The
Actual Testing Experience With Modules On
Insurance
Which Unfair Trade Practice involves making a false
statement on an insurance application in order to receive
money from an insurer? - . . ANSWER ✔
✔Misrepresentation
Who owns a stock company? - . . ANSWER ✔ ✔A stock
insurance company is owned by its stockholders.
In Florida, which of the following is considered an Unfair
Trade Practice? - . . ANSWER ✔ ✔Coercion
Which of these options can an individual use their medical
flexible spending account to pay for? - . . ANSWER ✔
,2|Page
✔Prescription drugs are an allowable expense when paid
for by a medical flexible spending account.
Which of the following features of a group Term Life policy
enables an individual to leave the group and continue his
or her insurance without providing evidence of
insurability? - . . ANSWER ✔ ✔The conversion privilege
allows an individual to leave the group term plan and
continue his or her insurance without providing evidence
of insurability.
An example of false advertising would be - . . ANSWER ✔
✔An insurer exaggerating its dividends in a magazine
advertisement
Q purchases a $500,000 life insurance policy and pays
$900 in premiums over the first six months. Q dies
suddenly and the beneficiary is paid $500,000. This
exchange of unequal values reflects which of the following
insurance contract features? - . . ANSWER ✔ ✔Aleatory.
Insurance contracts are aleatory in that the amount the
insured will pay in premiums is unequal to the amount
that the insurer will pay in the event of a loss.
,3|Page
An example of an unfair trade practice is - . . ANSWER ✔
✔Making a material misrepresentation to an insured is
considered to be an unfair trade practice.
How would a contingent beneficiary receive the policy
proceeds in an Accidental Death and Dismemberment
(AD&D) policy? - . . ANSWER ✔ ✔A contingent
beneficiary will receive the policy proceeds if the primary
beneficiary dies before the insured's death.
Which of these terms accurately defines an underwriter's
assessment of information on a life insurance application?
- . . ANSWER ✔ ✔Risk classification.
Underwriting, another term for risk selection, is the
process of reviewing the many characteristics that make
up the risk profile of an applicant to determine if the
applicant is insurable and, if so, at standard or
substandard rates.
T applies for a life insurance policy and is told by the
producer that the insurer is bound to the coverage as of
the date of the application or medical examination,
whichever is later. Assuming that T is an acceptable risk,
, 4|Page
what item is given to T? - . . ANSWER ✔ ✔Conditional
receipt.
A conditional receipt binds the insurer to coverage as of
the date of the application or medical exam, provided the
proposed insured is determined to be an acceptable risk.
What is required in the Florida Employee Health Care
Access Act? - . . ANSWER ✔ ✔Small group benefit plans
are to be issued on a "guarantee-issue" basis
P and Q are married and have three children. P is the
primary beneficiary on Q's Accidental Death and
Dismemberment (AD&D) policy and Q's sister R is the
contingent beneficiary. P, Q, and R are involved in a car
accident and Q and R are killed instantly. The Accidental
Death benefits will be paid to - . . ANSWER ✔ ✔P.
In this situation, benefits will be paid to P because P
survived the accident and is the primary beneficiary.
The health insurance program which is administered by
each state and funded by both the federal and state
governments is called - . . ANSWER ✔ ✔Medicaid- is
