Florida 2-15 Insurance License Exam
verified with correct answers A+
Graded
Accumulation units are converted into annuity units:- correct answer>>>at the time of
annuity payout.
A group life insurance plan in which the employer pays the entire premium is known as
a ________________ plan.- correct answer>>>noncontributory
If a disabled worker covered under Social Security disability benefits recovers and then
is disabled again within five years, a new waiting period is required before benefits
begin again.- correct answer>>>FALSE
Robert had an accident and qualified for Social Security disability. Given the waiting
period, when will Robert begin to receive benefits?- correct answer>>>After 5 months
The Insuring Clause includes all of the following EXCEPT the- correct
answer>>>beneficiary
Mutualization occurs when a stock company turns to a __________ company.- correct
answer>>>mutual
To provide a safeguard for insureds, most major medical policies contain a
____________ feature that limits the insured's out-of-pocket expenses.- correct
answer>>>stop-loss
Tom is a newly appointed life, health and variable annuity agent with Acme Insurance
Agency. He is writing his first insurance policy on his brother-in-law's life. Who does
Tom legally represent in this transaction?- correct answer>>>Acme Insurance Agency
An insurance clause is a distinct article in a formal document that establishes the rules
in the contract that _____________________ must adhere to.- correct answer>>>both
the insurer and the insured
"ACC" refers to the type of disability that prevents someone from performing the job he
was performing prior to the disability.- correct answer>>>FALSE
Which statement is CORRECT about the Department of Financial Services' right to
examine an agent's records?- correct answer>>>An examination can be conducted at
any time to discover any unfair trade practices.
, Bill gives Jim a couple of tickets to a Florida Gators game to thank him for purchasing a
policy. This is an example of:- correct answer>>>rebating
____________ term insurance provides a level amount of protection for a specified
period, after which the policy expires.- correct answer>>>Level
Business overhead expense (B.O.E.) insurance does not provide benefits to cover the
business owner's salary.- correct answer>>>TRUE
Level, decreasing, and increasing insurance are all basic forms of ____________
insurance.- correct answer>>>term
Hospice services are covered under Medicare Part A.- correct answer>>>TRUE
Under Florida law, group health insurers must offer mental and nervous disorder
insurance to policyowners.- correct answer>>>TRUE
Deductibles under a group major medical plan usually run from $250 to $500; whereas
individual health plans usually run from:- correct answer>>>$1,000 plus.
Every HMO subscriber must receive a benefits package that includes a copy of the
HMO contract and certificate, and:- correct answer>>>a member's handbook.
A life insurance policy will not be reinstated if it has been:- correct
answer>>>surrendered for its cash value.
Which of the following is NOT a type of permanent life insurance?- correct
answer>>>Term Life
In Florida, a ______________ must sign for and on behalf of a minor purchasing life
insurance.- correct answer>>>parent or legal guardian
When an agent spreads a false story that damages a competing agent's reputation, the
offense is called:- correct answer>>>defamation
__________ is when policy values of an insurance policy are used to purchase another
policy with the same insurer for the sole purpose of earning additional premiums or
commissions.- correct answer>>>Churning
Once an organization has filed an application to conduct insurance business, the Office
of Insurance Regulation will begin its review for issuing a(n):- correct
answer>>>Certificate of Authority
Florida law requires health insurance policies and HMO contracts to provide coverage
for all medically necessary equipment, supplies and services used to treat diabetes
verified with correct answers A+
Graded
Accumulation units are converted into annuity units:- correct answer>>>at the time of
annuity payout.
A group life insurance plan in which the employer pays the entire premium is known as
a ________________ plan.- correct answer>>>noncontributory
If a disabled worker covered under Social Security disability benefits recovers and then
is disabled again within five years, a new waiting period is required before benefits
begin again.- correct answer>>>FALSE
Robert had an accident and qualified for Social Security disability. Given the waiting
period, when will Robert begin to receive benefits?- correct answer>>>After 5 months
The Insuring Clause includes all of the following EXCEPT the- correct
answer>>>beneficiary
Mutualization occurs when a stock company turns to a __________ company.- correct
answer>>>mutual
To provide a safeguard for insureds, most major medical policies contain a
____________ feature that limits the insured's out-of-pocket expenses.- correct
answer>>>stop-loss
Tom is a newly appointed life, health and variable annuity agent with Acme Insurance
Agency. He is writing his first insurance policy on his brother-in-law's life. Who does
Tom legally represent in this transaction?- correct answer>>>Acme Insurance Agency
An insurance clause is a distinct article in a formal document that establishes the rules
in the contract that _____________________ must adhere to.- correct answer>>>both
the insurer and the insured
"ACC" refers to the type of disability that prevents someone from performing the job he
was performing prior to the disability.- correct answer>>>FALSE
Which statement is CORRECT about the Department of Financial Services' right to
examine an agent's records?- correct answer>>>An examination can be conducted at
any time to discover any unfair trade practices.
, Bill gives Jim a couple of tickets to a Florida Gators game to thank him for purchasing a
policy. This is an example of:- correct answer>>>rebating
____________ term insurance provides a level amount of protection for a specified
period, after which the policy expires.- correct answer>>>Level
Business overhead expense (B.O.E.) insurance does not provide benefits to cover the
business owner's salary.- correct answer>>>TRUE
Level, decreasing, and increasing insurance are all basic forms of ____________
insurance.- correct answer>>>term
Hospice services are covered under Medicare Part A.- correct answer>>>TRUE
Under Florida law, group health insurers must offer mental and nervous disorder
insurance to policyowners.- correct answer>>>TRUE
Deductibles under a group major medical plan usually run from $250 to $500; whereas
individual health plans usually run from:- correct answer>>>$1,000 plus.
Every HMO subscriber must receive a benefits package that includes a copy of the
HMO contract and certificate, and:- correct answer>>>a member's handbook.
A life insurance policy will not be reinstated if it has been:- correct
answer>>>surrendered for its cash value.
Which of the following is NOT a type of permanent life insurance?- correct
answer>>>Term Life
In Florida, a ______________ must sign for and on behalf of a minor purchasing life
insurance.- correct answer>>>parent or legal guardian
When an agent spreads a false story that damages a competing agent's reputation, the
offense is called:- correct answer>>>defamation
__________ is when policy values of an insurance policy are used to purchase another
policy with the same insurer for the sole purpose of earning additional premiums or
commissions.- correct answer>>>Churning
Once an organization has filed an application to conduct insurance business, the Office
of Insurance Regulation will begin its review for issuing a(n):- correct
answer>>>Certificate of Authority
Florida law requires health insurance policies and HMO contracts to provide coverage
for all medically necessary equipment, supplies and services used to treat diabetes
