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FLORIDA 2-15 INSURANCE LICENSE EXAM 2026/2027
QUESTIONS WITH DETAILED VERIFIED ANSWERS / EXAM
QUESTIONS AND VERIFIED ANSWERS |ALREADY GRADED
A+|
A term life insurance policy's cash value builds during a
specifically limited period of time. - ANSWER-FALSE
Insurable interest must exist at: - ANSWER-the time of
application.
Who regulates retirement plans in Florida? - ANSWER-ERISA
Employee Retirement Income Security Act
What type of insurance is most frequently used in group life
plans? - ANSWER-Annual Renewable Term
What is a Medicare supplement (Medigap) policy? - ANSWER-
Medigap policies pay for some healthcare services not covered by
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Medicare, pay most, if not all, Medicare deductibles and
copayments, and supplement Medicare benefits.
Anyone under the age of _____ who has earned income may
open a traditional IRA. - ANSWER-70 1/2
Which of the following types of insurance contracts are NOT
considered valued contracts? - ANSWER-Medical expense plans
Disability insurance provides an income stream for an individual
who is unable to continue working due to accident or illness.
However, if a person is under ______ disabled, he/she does not
qualify for benefits. - ANSWER-20%
Under the Law of Agency, an agent is the lawful representative of
the: - ANSWER-principal
Group health plans that are issued by mutual companies usually
provide dividends, which are most likely to be paid if
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__________________ are less than anticipated. - ANSWER-
expenses and claims costs
Which of the following reimburses its insureds for covered
medical expenses? - ANSWER-Commercial insurers
Which of the following would most likely be considered a key
person in a business? - ANSWER-An officer of the company
Annuity payment amounts are based upon which of the following
factors? - ANSWER-Starting principal, interest, and income period
In regard to variable annuities, which of the following statements
is FALSE? - ANSWER-The annuitant bears no risk.
Prior to retirement, the purchaser of a variable annuity pays an
agreed-upon periodic premium amount. When these periodic
premiums are paid, the purchaser is credited with: - ANSWER-a
number of accumulation units.
FLORIDA 2-15 INSURANCE LICENSE EXAM 2026/2027
QUESTIONS WITH DETAILED VERIFIED ANSWERS / EXAM
QUESTIONS AND VERIFIED ANSWERS |ALREADY GRADED
A+|
A term life insurance policy's cash value builds during a
specifically limited period of time. - ANSWER-FALSE
Insurable interest must exist at: - ANSWER-the time of
application.
Who regulates retirement plans in Florida? - ANSWER-ERISA
Employee Retirement Income Security Act
What type of insurance is most frequently used in group life
plans? - ANSWER-Annual Renewable Term
What is a Medicare supplement (Medigap) policy? - ANSWER-
Medigap policies pay for some healthcare services not covered by
, Page |2
Medicare, pay most, if not all, Medicare deductibles and
copayments, and supplement Medicare benefits.
Anyone under the age of _____ who has earned income may
open a traditional IRA. - ANSWER-70 1/2
Which of the following types of insurance contracts are NOT
considered valued contracts? - ANSWER-Medical expense plans
Disability insurance provides an income stream for an individual
who is unable to continue working due to accident or illness.
However, if a person is under ______ disabled, he/she does not
qualify for benefits. - ANSWER-20%
Under the Law of Agency, an agent is the lawful representative of
the: - ANSWER-principal
Group health plans that are issued by mutual companies usually
provide dividends, which are most likely to be paid if
, Page |3
__________________ are less than anticipated. - ANSWER-
expenses and claims costs
Which of the following reimburses its insureds for covered
medical expenses? - ANSWER-Commercial insurers
Which of the following would most likely be considered a key
person in a business? - ANSWER-An officer of the company
Annuity payment amounts are based upon which of the following
factors? - ANSWER-Starting principal, interest, and income period
In regard to variable annuities, which of the following statements
is FALSE? - ANSWER-The annuitant bears no risk.
Prior to retirement, the purchaser of a variable annuity pays an
agreed-upon periodic premium amount. When these periodic
premiums are paid, the purchaser is credited with: - ANSWER-a
number of accumulation units.
