Florida Life and Health Final Exam Latest 2026
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Terms in this set (150)
Which Unfair Trade Practice involves Misrepresentation
making a false statement on an
insurance application in order to
receive money from an insurer?
Who owns a stock company? A stock insurance company is owned by its
stockholders.
In Florida, which of the following is Coercion
considered an Unfair Trade Practice?
,Which of these options can an Prescription drugs are an allowable expense when
individual use their medical flexible paid for by a medical flexible spending account.
spending account to pay for?
Which of the following features of a The conversion privilege allows an individual to
group Term Life policy enables an leave the group term plan and continue his or her
individual to leave the group and insurance without providing evidence of
continue his or her insurance without insurability.
providing evidence of insurability?
An example of false advertising An insurer exaggerating its dividends in a magazine
would be advertisement
Q purchases a $500,000 life Aleatory.
insurance policy and pays $900 in Insurance contracts are aleatory in that the amount
premiums over the first six months. Q the insured will pay in premiums is unequal to the
dies suddenly and the beneficiary is amount that the insurer will pay in the event of a
paid $500,000. This exchange of loss.
unequal values reflects which of the
following insurance contract
features?
An example of an unfair trade Making a material misrepresentation to an insured
practice is is considered to be an unfair trade practice.
How would a contingent beneficiary A contingent beneficiary will receive the policy
receive the policy proceeds in an proceeds if the primary beneficiary dies before the
Accidental Death and insured's death.
Dismemberment (AD&D) policy?
, Which of these terms accurately Risk classification.
defines an underwriter's assessment Underwriting, another term for risk selection, is the
of information on a life insurance process of reviewing the many characteristics that
application? make up the risk profile of an applicant to
determine if the applicant is insurable and, if so, at
standard or substandard rates.
T applies for a life insurance policy Conditional receipt.
and is told by the producer that the
insurer is bound to the coverage as A conditional receipt binds the insurer to coverage
of the date of the application or as of the date of the application or medical exam,
medical examination, whichever is provided the proposed insured is determined to
later. Assuming that T is an be an acceptable risk.
acceptable risk, what item is given to
T?
What is required in the Florida Small group benefit plans are to be issued on a
Employee Health Care Access Act? "guarantee-issue" basis
Actual Questions and Verified Answers (Latest
Update) A+ Grade 100% Guarantee
Verified by Experts
Terms in this set (150)
Which Unfair Trade Practice involves Misrepresentation
making a false statement on an
insurance application in order to
receive money from an insurer?
Who owns a stock company? A stock insurance company is owned by its
stockholders.
In Florida, which of the following is Coercion
considered an Unfair Trade Practice?
,Which of these options can an Prescription drugs are an allowable expense when
individual use their medical flexible paid for by a medical flexible spending account.
spending account to pay for?
Which of the following features of a The conversion privilege allows an individual to
group Term Life policy enables an leave the group term plan and continue his or her
individual to leave the group and insurance without providing evidence of
continue his or her insurance without insurability.
providing evidence of insurability?
An example of false advertising An insurer exaggerating its dividends in a magazine
would be advertisement
Q purchases a $500,000 life Aleatory.
insurance policy and pays $900 in Insurance contracts are aleatory in that the amount
premiums over the first six months. Q the insured will pay in premiums is unequal to the
dies suddenly and the beneficiary is amount that the insurer will pay in the event of a
paid $500,000. This exchange of loss.
unequal values reflects which of the
following insurance contract
features?
An example of an unfair trade Making a material misrepresentation to an insured
practice is is considered to be an unfair trade practice.
How would a contingent beneficiary A contingent beneficiary will receive the policy
receive the policy proceeds in an proceeds if the primary beneficiary dies before the
Accidental Death and insured's death.
Dismemberment (AD&D) policy?
, Which of these terms accurately Risk classification.
defines an underwriter's assessment Underwriting, another term for risk selection, is the
of information on a life insurance process of reviewing the many characteristics that
application? make up the risk profile of an applicant to
determine if the applicant is insurable and, if so, at
standard or substandard rates.
T applies for a life insurance policy Conditional receipt.
and is told by the producer that the
insurer is bound to the coverage as A conditional receipt binds the insurer to coverage
of the date of the application or as of the date of the application or medical exam,
medical examination, whichever is provided the proposed insured is determined to
later. Assuming that T is an be an acceptable risk.
acceptable risk, what item is given to
T?
What is required in the Florida Small group benefit plans are to be issued on a
Employee Health Care Access Act? "guarantee-issue" basis
