LIFE, HEALTH, & VARIABLE ANNUITIES FL
STATE EXAM - 215 INSURANCE LICENSE
STUDY GUIDE 2026/2027 ACTUAL
QUESTIONS WITH VERIFIED ANSWERS.
Which of tire following is NOT a service provider?
(A) HMO
(B) PPO
(C) Health insurance company
(D) Blue Cross/Blue Shield - correct answer-Health Insurance
company
Which of the following concerning taxation of group health
plans is CORRECT?
(A) Employer contributions to group health plans is tax
deductible as a business expense.
(B) All disability income benefits received by the employee are
taxable.
(C) Reimbursed medical expenses incurred by the employee
are deductible.
,(D) Unreimbursed medical expenses incurred by the employee
are never deductible. - correct answer-Employer contributions
to group health plans is tax deductible as a business expense.
An Entity Plan has been established for a four-person
partnership worth $400,000. Each partner owns an equal share
of the business. How much life insurance would the partnership
purchase
on the life of each partner?
(A) $25,000
(B) $100,000
(C) $50,000
(D) $400,000 - correct answer-$100,000
Which of the following organizations cannot underwrite
Accident and Health coverage?
(A) Credit unions
(B) Multiple Employer Trusts
(C) Blue Cross/Blue Shield
(D) Health Maintenance Organizations - correct answer-Credit
unions
,In order to be eligible to receive disability income benefits under
the Social Security Program, a worker must have achieved
which of the following?
(A) Fully Insured Status Only
(B) Currently Insured Status Only
(C) Fully and Disability Insured Status
(D) Disability Insured Status Only - correct answer-Fully and
Disability Insured Status
A rider that would allow the policyowner to extend the period of
term insurance without proving insurability is the:
(A) Guaranteed Insurability Rider
(B) Guaranteed Renewable Rider
(C) Conversion Rider
(D) Increasing Term Rider - correct answer-Guaranteed
Renewable Rider
Where does a major gap in Medicare coverage occur?
(A) Part B, in the way Medicare expenses are covered.
, (B) Part B, in the way physical therapy is covered.
(C) Part A, in the way skilled nursing care is covered.
(D) Part A, in the way hospice coverage is handled. - correct
answer-Part A, in the way skilled nursing care is covered.
Which of the following statements about tax sheltered annuities
is (are) TRUE?
(A) Employees may make withdrawals without penalty.
(B) Payouts are taxable at capital gains rates.
(C) Taxes on earnings are deferred.
(D) None of the above. - correct answer-Taxes on earnings are
deferred.
An employee has a non-qualified retirement program at her job.
Which of the following statements is INCORRECT?
(A) During the accumulation period, the employer will pay tax
on any interest and/or capital gains earned by the account
(B) The employer receives no deduction for payment until the
money is transferred
(C) Because the plan is non-qualified, the IRS does not care if
the agreement is in writing
STATE EXAM - 215 INSURANCE LICENSE
STUDY GUIDE 2026/2027 ACTUAL
QUESTIONS WITH VERIFIED ANSWERS.
Which of tire following is NOT a service provider?
(A) HMO
(B) PPO
(C) Health insurance company
(D) Blue Cross/Blue Shield - correct answer-Health Insurance
company
Which of the following concerning taxation of group health
plans is CORRECT?
(A) Employer contributions to group health plans is tax
deductible as a business expense.
(B) All disability income benefits received by the employee are
taxable.
(C) Reimbursed medical expenses incurred by the employee
are deductible.
,(D) Unreimbursed medical expenses incurred by the employee
are never deductible. - correct answer-Employer contributions
to group health plans is tax deductible as a business expense.
An Entity Plan has been established for a four-person
partnership worth $400,000. Each partner owns an equal share
of the business. How much life insurance would the partnership
purchase
on the life of each partner?
(A) $25,000
(B) $100,000
(C) $50,000
(D) $400,000 - correct answer-$100,000
Which of the following organizations cannot underwrite
Accident and Health coverage?
(A) Credit unions
(B) Multiple Employer Trusts
(C) Blue Cross/Blue Shield
(D) Health Maintenance Organizations - correct answer-Credit
unions
,In order to be eligible to receive disability income benefits under
the Social Security Program, a worker must have achieved
which of the following?
(A) Fully Insured Status Only
(B) Currently Insured Status Only
(C) Fully and Disability Insured Status
(D) Disability Insured Status Only - correct answer-Fully and
Disability Insured Status
A rider that would allow the policyowner to extend the period of
term insurance without proving insurability is the:
(A) Guaranteed Insurability Rider
(B) Guaranteed Renewable Rider
(C) Conversion Rider
(D) Increasing Term Rider - correct answer-Guaranteed
Renewable Rider
Where does a major gap in Medicare coverage occur?
(A) Part B, in the way Medicare expenses are covered.
, (B) Part B, in the way physical therapy is covered.
(C) Part A, in the way skilled nursing care is covered.
(D) Part A, in the way hospice coverage is handled. - correct
answer-Part A, in the way skilled nursing care is covered.
Which of the following statements about tax sheltered annuities
is (are) TRUE?
(A) Employees may make withdrawals without penalty.
(B) Payouts are taxable at capital gains rates.
(C) Taxes on earnings are deferred.
(D) None of the above. - correct answer-Taxes on earnings are
deferred.
An employee has a non-qualified retirement program at her job.
Which of the following statements is INCORRECT?
(A) During the accumulation period, the employer will pay tax
on any interest and/or capital gains earned by the account
(B) The employer receives no deduction for payment until the
money is transferred
(C) Because the plan is non-qualified, the IRS does not care if
the agreement is in writing
