Florida Laws and Rules Pertinent to Insurance Exam
Newest Exam 2026 | All Questions and Correct Answers
| Graded A+ | Verified Answers | Brand New Version!
In Florida, most life insurance policies have a contestability period of ---------
CORRECT ANSWER-----------------2 years
Which of the following can an agent provide to help a prospective client
understand and purchase the most appropriate product? ---------CORRECT
ANSWER-----------------Buyer's guide
A life insurance policyowner may sell their policy to a(n) _____ in order to receive
a percentage of the policy's face value. ---------CORRECT ANSWER-----------------
viatical settlement provider
A stock life insurance company that issues both participating and nonparticipating
policies is doing business on ---------CORRECT ANSWER-----------------The correct
answer is "a mixed plan". When a stock life insurance company issues both
participating and nonparticipating policies, the company is doing business on a
mixed plan.
In order for a domestic, foreign, or alien insurance company to conduct business,
it must be authorized by whom? ---------CORRECT ANSWER-----------------The
,correct answer is "The state where they are conducting business". Domestic,
foreign, or alien companies must be authorized by each state where they conduct
business.
Advertising gifts not to exceed ___ are allowed to be given by an agent to a
prospective client. ---------CORRECT ANSWER-----------------$25
A licensed agent must be appointed by an insurance company to solicit insurance
in Florida. The agent's license will terminate if a certain period of time elapses
without being appointed. How long is this period of time? ---------CORRECT
ANSWER-----------------48 months
A long-term care lapse notice must be delivered to both the applicant and ---------
CORRECT ANSWER-----------------secondary addressee
Under Florida law, which of the following provisions is NOT required in a
Medicare Supplement policy? ---------CORRECT ANSWER-----------------Limitation on
pre-existing conditions for up to 12 months
There is only a 6-month limitation on pre-existing conditions for Medicare
Supplements.
,According to Florida law, a Group Life insurance policy requires a minimum of
how many insureds? ---------CORRECT ANSWER-----------------No minimum
Which of the following situations are NOT subject to Florida life insurance laws?
Insurance companies' day-to-day operations
Insurance companies' life policy replacement requirements
Insurance companies' setting of life insurance policy rates
Insurance companies' guidelines for paying a life insurance claim ---------CORRECT
ANSWER-----------------Insurance companies' day-to-day operations
Florida life insurance laws apply to all of these situations EXCEPT "Insurance
companies' day-to-day operations".
An individual covered under a Group Life insurance policy is considered to be a(n)
---------CORRECT ANSWER-----------------certificate holder
The act of an insurance company publishing misleading information about its
policy's provisions is called ---------CORRECT ANSWER-----------------false advertising
, Which of the following employer tasks does a Professional Employer Organization
normally handle? ---------CORRECT ANSWER-----------------A Professional Employer
Organization typically handles administration functions.
A mutual insurance company and a stock insurance company have one main
difference between them. What is this major contrast? ---------CORRECT ANSWER-
----------------Stock company is owned by its shareholders. Mutual company is
owned by its policyholders.
Which of the following situations does NOT apply to the Florida Replacement
Rule?
*An existing policy is reissued with a reduction in cash value
*A new policy is issued while an existing one is surrendered
*An existing policy is subject to extensive borrowing
* An existing policyholder purchases an additional policy from the same insurer ---
------CORRECT ANSWER-----------------An existing policyholder purchases an
additional policy from the same insurer
Florida's Replacement Rule applies to all of these situations EXCEPT "An existing
policyholder purchases an additional policy from the same insurer".
An example of an unfair claims practice would be ---------CORRECT ANSWER---------
--------failing to effectuate prompt, fair, and equitable settlements of a claim
Newest Exam 2026 | All Questions and Correct Answers
| Graded A+ | Verified Answers | Brand New Version!
In Florida, most life insurance policies have a contestability period of ---------
CORRECT ANSWER-----------------2 years
Which of the following can an agent provide to help a prospective client
understand and purchase the most appropriate product? ---------CORRECT
ANSWER-----------------Buyer's guide
A life insurance policyowner may sell their policy to a(n) _____ in order to receive
a percentage of the policy's face value. ---------CORRECT ANSWER-----------------
viatical settlement provider
A stock life insurance company that issues both participating and nonparticipating
policies is doing business on ---------CORRECT ANSWER-----------------The correct
answer is "a mixed plan". When a stock life insurance company issues both
participating and nonparticipating policies, the company is doing business on a
mixed plan.
In order for a domestic, foreign, or alien insurance company to conduct business,
it must be authorized by whom? ---------CORRECT ANSWER-----------------The
,correct answer is "The state where they are conducting business". Domestic,
foreign, or alien companies must be authorized by each state where they conduct
business.
Advertising gifts not to exceed ___ are allowed to be given by an agent to a
prospective client. ---------CORRECT ANSWER-----------------$25
A licensed agent must be appointed by an insurance company to solicit insurance
in Florida. The agent's license will terminate if a certain period of time elapses
without being appointed. How long is this period of time? ---------CORRECT
ANSWER-----------------48 months
A long-term care lapse notice must be delivered to both the applicant and ---------
CORRECT ANSWER-----------------secondary addressee
Under Florida law, which of the following provisions is NOT required in a
Medicare Supplement policy? ---------CORRECT ANSWER-----------------Limitation on
pre-existing conditions for up to 12 months
There is only a 6-month limitation on pre-existing conditions for Medicare
Supplements.
,According to Florida law, a Group Life insurance policy requires a minimum of
how many insureds? ---------CORRECT ANSWER-----------------No minimum
Which of the following situations are NOT subject to Florida life insurance laws?
Insurance companies' day-to-day operations
Insurance companies' life policy replacement requirements
Insurance companies' setting of life insurance policy rates
Insurance companies' guidelines for paying a life insurance claim ---------CORRECT
ANSWER-----------------Insurance companies' day-to-day operations
Florida life insurance laws apply to all of these situations EXCEPT "Insurance
companies' day-to-day operations".
An individual covered under a Group Life insurance policy is considered to be a(n)
---------CORRECT ANSWER-----------------certificate holder
The act of an insurance company publishing misleading information about its
policy's provisions is called ---------CORRECT ANSWER-----------------false advertising
, Which of the following employer tasks does a Professional Employer Organization
normally handle? ---------CORRECT ANSWER-----------------A Professional Employer
Organization typically handles administration functions.
A mutual insurance company and a stock insurance company have one main
difference between them. What is this major contrast? ---------CORRECT ANSWER-
----------------Stock company is owned by its shareholders. Mutual company is
owned by its policyholders.
Which of the following situations does NOT apply to the Florida Replacement
Rule?
*An existing policy is reissued with a reduction in cash value
*A new policy is issued while an existing one is surrendered
*An existing policy is subject to extensive borrowing
* An existing policyholder purchases an additional policy from the same insurer ---
------CORRECT ANSWER-----------------An existing policyholder purchases an
additional policy from the same insurer
Florida's Replacement Rule applies to all of these situations EXCEPT "An existing
policyholder purchases an additional policy from the same insurer".
An example of an unfair claims practice would be ---------CORRECT ANSWER---------
--------failing to effectuate prompt, fair, and equitable settlements of a claim
