Exam Simulator- Florida Life and Health State
Exam Simulator Questions And Verified
Answers (100% correct verified solutions)
Graded A+
,From what authority derives the requirement that an insurance application
contains a disclosure starting that an investigative consumer report may be
updated on an applicant? - {✔✔ANSWER✔✔}-Fair Credit Report Act
A person who is insured within a group contract will be given a ? -
{✔✔ANSWER✔✔}-Certificate
R Had received the full disability income benefits for six months. When he returns
to work, he's only able to resume half his normal daily workload. Which provision
pays reduce benefits to R while he's not working a full capacity? -
{✔✔ANSWER✔✔}-Residual disability
N has a major medical policy that only pays a portion of N medical expenses. N is
responsible for paying the remaining balance. This provision is known as? -
{✔✔ANSWER✔✔}-Coinsurance
An example of unfair trade practice is? - {✔✔ANSWER✔✔}-An agent making
material a misrepresentation to the insured
Group life insurance policies are generally written as? - {✔✔ANSWER✔✔}-
Annually renewable term
T and S are name co-primary beneficiaries on a $500,000 accidental death and
dismemberment policy insuring their father. Their mother was named contingent
beneficiary. Five years later, S dies of natural causes and the father is killed in
scuba accident shortly afterwords. How much of the death benefits will the
mother receive? - {✔✔ANSWER✔✔}-$0
,Which of the following provisions specified how long a policyowner's health
coverage will remain in effect if the policyowner does not pay the premium when
it is due? - {✔✔ANSWER✔✔}-Grace Period
A potential client age 40 would like to purchase a whole life policy that will
accumulate cash value at faster rate in the early years of the policy. Which of
these Statemants made by the producer would be correct? -
{✔✔ANSWER✔✔}-20-Pay Life accumulates cash value faster than Straight
Life
According to Florida law, in which of the following situations would a dependent
handicapped child NOT be covered under family health policy? -
{✔✔ANSWER✔✔}-The premiums for the handicapped child are not paid
How long does the coverage normally remain on limited-pay life policy? -
{✔✔ANSWER✔✔}-Age 100
Information obtained from a phone conversation to the proposed insured can be
found in which of these reports? - {✔✔ANSWER✔✔}-Inspection report
How does group insurance differ from individual insurance? -
{✔✔ANSWER✔✔}-Premiums are lower
An Insurance company Incorporated under the law of the state in which its home
office is located is called an —- company? - {✔✔ANSWER✔✔}-Domestic
, Which of the following statements about guaranteed renewable health insurance
policy is correct? - {✔✔ANSWER✔✔}-Premiums normally increase at the
time of renewal.
The issuer must provide a perspective buyer with an? - {✔✔ANSWER✔✔}-
Buyers guide and policy summary
T would like to be assured $10,000 is available in 10 years to replace a roof on his
house. What kind of $10,000 policy should T purchase? - {✔✔ANSWER✔✔}-
Ten-year Endowment
According to the time payment of claims provision, the insurer must pay disability
income benefits no less frequently then which of the following options? -
{✔✔ANSWER✔✔}-Monthly
Which of the following is the most important factor when deciding how much
disability income coverage an applicant should purchase? -
{✔✔ANSWER✔✔}-Applicants monthly income
Which two entitles regulate variable annuities? - {✔✔ANSWER✔✔}-
Department of Financial Services; Securities Exchange Commission.
The amount of coverage on a group life policy is limited to? -
{✔✔ANSWER✔✔}-The insured's total loan value
The provision that can be used to put on insurance policy back in force after it has
lapsed due to nonpayment is called? - {✔✔ANSWER✔✔}-Reinstatement
Exam Simulator Questions And Verified
Answers (100% correct verified solutions)
Graded A+
,From what authority derives the requirement that an insurance application
contains a disclosure starting that an investigative consumer report may be
updated on an applicant? - {✔✔ANSWER✔✔}-Fair Credit Report Act
A person who is insured within a group contract will be given a ? -
{✔✔ANSWER✔✔}-Certificate
R Had received the full disability income benefits for six months. When he returns
to work, he's only able to resume half his normal daily workload. Which provision
pays reduce benefits to R while he's not working a full capacity? -
{✔✔ANSWER✔✔}-Residual disability
N has a major medical policy that only pays a portion of N medical expenses. N is
responsible for paying the remaining balance. This provision is known as? -
{✔✔ANSWER✔✔}-Coinsurance
An example of unfair trade practice is? - {✔✔ANSWER✔✔}-An agent making
material a misrepresentation to the insured
Group life insurance policies are generally written as? - {✔✔ANSWER✔✔}-
Annually renewable term
T and S are name co-primary beneficiaries on a $500,000 accidental death and
dismemberment policy insuring their father. Their mother was named contingent
beneficiary. Five years later, S dies of natural causes and the father is killed in
scuba accident shortly afterwords. How much of the death benefits will the
mother receive? - {✔✔ANSWER✔✔}-$0
,Which of the following provisions specified how long a policyowner's health
coverage will remain in effect if the policyowner does not pay the premium when
it is due? - {✔✔ANSWER✔✔}-Grace Period
A potential client age 40 would like to purchase a whole life policy that will
accumulate cash value at faster rate in the early years of the policy. Which of
these Statemants made by the producer would be correct? -
{✔✔ANSWER✔✔}-20-Pay Life accumulates cash value faster than Straight
Life
According to Florida law, in which of the following situations would a dependent
handicapped child NOT be covered under family health policy? -
{✔✔ANSWER✔✔}-The premiums for the handicapped child are not paid
How long does the coverage normally remain on limited-pay life policy? -
{✔✔ANSWER✔✔}-Age 100
Information obtained from a phone conversation to the proposed insured can be
found in which of these reports? - {✔✔ANSWER✔✔}-Inspection report
How does group insurance differ from individual insurance? -
{✔✔ANSWER✔✔}-Premiums are lower
An Insurance company Incorporated under the law of the state in which its home
office is located is called an —- company? - {✔✔ANSWER✔✔}-Domestic
, Which of the following statements about guaranteed renewable health insurance
policy is correct? - {✔✔ANSWER✔✔}-Premiums normally increase at the
time of renewal.
The issuer must provide a perspective buyer with an? - {✔✔ANSWER✔✔}-
Buyers guide and policy summary
T would like to be assured $10,000 is available in 10 years to replace a roof on his
house. What kind of $10,000 policy should T purchase? - {✔✔ANSWER✔✔}-
Ten-year Endowment
According to the time payment of claims provision, the insurer must pay disability
income benefits no less frequently then which of the following options? -
{✔✔ANSWER✔✔}-Monthly
Which of the following is the most important factor when deciding how much
disability income coverage an applicant should purchase? -
{✔✔ANSWER✔✔}-Applicants monthly income
Which two entitles regulate variable annuities? - {✔✔ANSWER✔✔}-
Department of Financial Services; Securities Exchange Commission.
The amount of coverage on a group life policy is limited to? -
{✔✔ANSWER✔✔}-The insured's total loan value
The provision that can be used to put on insurance policy back in force after it has
lapsed due to nonpayment is called? - {✔✔ANSWER✔✔}-Reinstatement
