1
FLORIDA 2-15 INSURANCE LICENSE EXAM
QUESTIONS AND ANSWERS 2026 UPDATE
__________ 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
___________ refers to the monies set aside by insurers for future claims costs.
CORRECT ANSWER ✔✔: Reserve funds
____________ term insurance provides a level amount of protection for a specified
period, after which the policy expires. CORRECT ANSWER ✔✔: Level
_____________ health insurance is issued to cover a group who may be exposed to
the same risks, but the composition of the group is constantly changing.
CORRECT ANSWER ✔✔: Blanket
_______________ policies are commonly used as a hedge against inflation to ward
off decreased purchasing power. CORRECT ANSWER ✔✔: Increasing term
__________________ are the two most important factors in the health insurance
underwriting process. CORRECT ANSWER ✔✔: Medical history and
occupation
pg. 1
,2
"ACC" refers to the type of disability that prevents someone from performing the
job he was performing prior to the disability. CORRECT ANSWER ✔✔:
FALSE
A _____________ group involves combining several parties into a group for the
purpose of obtaining insurance. CORRECT ANSWER ✔✔: fictitious
A complete examination of an HMO's affairs is conducted at least: CORRECT
ANSWER ✔✔: once every five years.
A group life insurance plan in which the employer pays the entire premium is
known as a ________________ plan. CORRECT ANSWER ✔✔:
noncontributory
A health plan with a $5-per-point conversion factor would pay _______ for a 200-
point procedure. CORRECT ANSWER ✔✔: $1,000
A life insurance policy will not be reinstated if it has been: CORRECT ANSWER
✔✔: surrendered for its cash value.
A life insurance policy's cash value belongs to the insured. CORRECT ANSWER
✔✔: FALSE
pg. 2
, 3
A man commits suicide 30 months after purchasing a life insurance policy and his
wife is the named beneficiary. What amount will his wife receive? CORRECT
ANSWER ✔✔: The face amount of the policy
A medical expense policy states that it will pay a flat $200 a day for each day of
hospitalization. The policy pays benefits on what basis? CORRECT ANSWER
✔✔: Indemnity
A portion of a mutual insurer's premiums are paid out as policy dividends and are
considered: CORRECT ANSWER ✔✔: refunds
A prospectus for an individual variable insurance contract: CORRECT ANSWER
✔✔: must accompany every sales presentation.
A term life insurance policy's cash value builds during a specifically limited period
of time. CORRECT ANSWER ✔✔: FALSE
A Variable annuity separate account will be invested in: CORRECT ANSWER
✔✔: common stocks and other securities.
According to Florida's Standard Valuation Law, the __________________ is
mandatory. CORRECT ANSWER ✔✔: legal reserve
Accumulation units are converted into annuity units: CORRECT ANSWER
✔✔: at the time of annuity payout.
pg. 3
FLORIDA 2-15 INSURANCE LICENSE EXAM
QUESTIONS AND ANSWERS 2026 UPDATE
__________ 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
___________ refers to the monies set aside by insurers for future claims costs.
CORRECT ANSWER ✔✔: Reserve funds
____________ term insurance provides a level amount of protection for a specified
period, after which the policy expires. CORRECT ANSWER ✔✔: Level
_____________ health insurance is issued to cover a group who may be exposed to
the same risks, but the composition of the group is constantly changing.
CORRECT ANSWER ✔✔: Blanket
_______________ policies are commonly used as a hedge against inflation to ward
off decreased purchasing power. CORRECT ANSWER ✔✔: Increasing term
__________________ are the two most important factors in the health insurance
underwriting process. CORRECT ANSWER ✔✔: Medical history and
occupation
pg. 1
,2
"ACC" refers to the type of disability that prevents someone from performing the
job he was performing prior to the disability. CORRECT ANSWER ✔✔:
FALSE
A _____________ group involves combining several parties into a group for the
purpose of obtaining insurance. CORRECT ANSWER ✔✔: fictitious
A complete examination of an HMO's affairs is conducted at least: CORRECT
ANSWER ✔✔: once every five years.
A group life insurance plan in which the employer pays the entire premium is
known as a ________________ plan. CORRECT ANSWER ✔✔:
noncontributory
A health plan with a $5-per-point conversion factor would pay _______ for a 200-
point procedure. CORRECT ANSWER ✔✔: $1,000
A life insurance policy will not be reinstated if it has been: CORRECT ANSWER
✔✔: surrendered for its cash value.
A life insurance policy's cash value belongs to the insured. CORRECT ANSWER
✔✔: FALSE
pg. 2
, 3
A man commits suicide 30 months after purchasing a life insurance policy and his
wife is the named beneficiary. What amount will his wife receive? CORRECT
ANSWER ✔✔: The face amount of the policy
A medical expense policy states that it will pay a flat $200 a day for each day of
hospitalization. The policy pays benefits on what basis? CORRECT ANSWER
✔✔: Indemnity
A portion of a mutual insurer's premiums are paid out as policy dividends and are
considered: CORRECT ANSWER ✔✔: refunds
A prospectus for an individual variable insurance contract: CORRECT ANSWER
✔✔: must accompany every sales presentation.
A term life insurance policy's cash value builds during a specifically limited period
of time. CORRECT ANSWER ✔✔: FALSE
A Variable annuity separate account will be invested in: CORRECT ANSWER
✔✔: common stocks and other securities.
According to Florida's Standard Valuation Law, the __________________ is
mandatory. CORRECT ANSWER ✔✔: legal reserve
Accumulation units are converted into annuity units: CORRECT ANSWER
✔✔: at the time of annuity payout.
pg. 3
