XCel 2-15 florida life & health state exam simulator
1. what is considered to be a characteristic of an immediate annuity: benefit
payments start within one payment period of purchase
2. which of these characteristics is consistent with a straight life policy: premiums
are payable for as long as there is insurance coverage in force
3. an insureds inability to perform two or more activities of daily living may
trigger which type of life policy rider: long term care
4. B recently died and was insured with a life insurance policy for over five
years. During the claims process, the insurer discovered that B had understat-
ed his age by 5 years at the time of application. In this situation, the insurer
will: pay the amount that the premium would have purchased at the correct age
5. what action can a policyowner take if an application for a bank loan requires
collateral: assign policy ownership to the bank
6. what is required in the Florida Employee Health Care Access Act: small group
benefit plans are to be issued on a guarantee issue basis
7. P is a forty year old woman and would like to purchase an annuity that
will provide a lifetime income stream beginning at age sixty. Which of the
following did she NOT buy?: an immediate annuity
8. the situation in which a group of physicians are salaried employees and
conduct business in an hmo facility is called: closed panel
9. T sends proof of loss to her insurer for an acceptable medical expense claim
under her individual Health Insurance policy. Upon receipt, the insurer must
pay the benefits: immediately
10. an application for medicare supplement coverage may not be denied by
the insurer if the application was submitted within ______ month(s) after the
applicant reaches the age 65: six
11. when a policyowner cash surrenders a universal life insurance policy in its
early years, this may be considered a red flag for a(n): anti money laundering violation
12. When is a Group Health policy required to provide coverage for a newborn
child?: at the moment of birth
13. which of the following situations does not apply to the florida replacement
rule: an existing policyholder purchases an additional policy from the same insurer
, XCel 2-15 florida life & health state exam simulator
14. under a renewable term policy: the renewal premium is calculated on the basis of the insured's
attained age
15. D owns a Whole Life policy that was purchased 10 years ago. If the premium
payments suddenly stop and D takes no additional action, which Nonforfei-
ture Option will the insurer likely proceed with?: extended term
16. In Florida, which employee is eligible for an employer's group term life
plan?: employee who works more than 40 hours per week
17. which of the following statements is correct regarding an employer/em-
ployee group health plan: the employer receives a master policy and the employees receive certificates
18. all of the following statements regarding a tax sheltered annuity (tsa) are
true except: income derived from the tsa is received income tax free
19. How would a contingent beneficiary receive the policy proceeds in an
Accidental Death and Dismemberment (AD&D) policy?: if the primary beneficiary dies
before the insured
20. A student pilot can pay regular premium costs for her life insurance policy
with the addition of which of the following?: aviation exclusion
21. which of these statements is incorrect regarding a preferred provider orga-
nization (ppo)?: ppos are not a type of managed care systems
22. which of the following is considered an accurate statement of an unfair
trade practice?: twisting involves an agent using misrepresentation to convince a policyowner to cancel their
current policy so that they can purchase a new life insurance policy with another company
23. what is floridas definition of life insurance replacement: a transaction in which a new
policy is bought and an old policy is terminated
24. a sole proprietor may use this plan only if the employees of this business
are included: keogh pension plan
25. a primary beneficiary has died before the insured in a life insurance policy.
a contingent beneficiary is also named in the policy. which of the following
will occur when the insured dies: proceeds will go to the contingent beneficiary
26. Upon delivery of a rated life insurance policy, the Producer must obtain
each of the following EXCEPT: signed hipaa disclosure
27. which of these is not relevant when the determining the amount of person-
al life insurance needed: local unemployment rates
1. what is considered to be a characteristic of an immediate annuity: benefit
payments start within one payment period of purchase
2. which of these characteristics is consistent with a straight life policy: premiums
are payable for as long as there is insurance coverage in force
3. an insureds inability to perform two or more activities of daily living may
trigger which type of life policy rider: long term care
4. B recently died and was insured with a life insurance policy for over five
years. During the claims process, the insurer discovered that B had understat-
ed his age by 5 years at the time of application. In this situation, the insurer
will: pay the amount that the premium would have purchased at the correct age
5. what action can a policyowner take if an application for a bank loan requires
collateral: assign policy ownership to the bank
6. what is required in the Florida Employee Health Care Access Act: small group
benefit plans are to be issued on a guarantee issue basis
7. P is a forty year old woman and would like to purchase an annuity that
will provide a lifetime income stream beginning at age sixty. Which of the
following did she NOT buy?: an immediate annuity
8. the situation in which a group of physicians are salaried employees and
conduct business in an hmo facility is called: closed panel
9. T sends proof of loss to her insurer for an acceptable medical expense claim
under her individual Health Insurance policy. Upon receipt, the insurer must
pay the benefits: immediately
10. an application for medicare supplement coverage may not be denied by
the insurer if the application was submitted within ______ month(s) after the
applicant reaches the age 65: six
11. when a policyowner cash surrenders a universal life insurance policy in its
early years, this may be considered a red flag for a(n): anti money laundering violation
12. When is a Group Health policy required to provide coverage for a newborn
child?: at the moment of birth
13. which of the following situations does not apply to the florida replacement
rule: an existing policyholder purchases an additional policy from the same insurer
, XCel 2-15 florida life & health state exam simulator
14. under a renewable term policy: the renewal premium is calculated on the basis of the insured's
attained age
15. D owns a Whole Life policy that was purchased 10 years ago. If the premium
payments suddenly stop and D takes no additional action, which Nonforfei-
ture Option will the insurer likely proceed with?: extended term
16. In Florida, which employee is eligible for an employer's group term life
plan?: employee who works more than 40 hours per week
17. which of the following statements is correct regarding an employer/em-
ployee group health plan: the employer receives a master policy and the employees receive certificates
18. all of the following statements regarding a tax sheltered annuity (tsa) are
true except: income derived from the tsa is received income tax free
19. How would a contingent beneficiary receive the policy proceeds in an
Accidental Death and Dismemberment (AD&D) policy?: if the primary beneficiary dies
before the insured
20. A student pilot can pay regular premium costs for her life insurance policy
with the addition of which of the following?: aviation exclusion
21. which of these statements is incorrect regarding a preferred provider orga-
nization (ppo)?: ppos are not a type of managed care systems
22. which of the following is considered an accurate statement of an unfair
trade practice?: twisting involves an agent using misrepresentation to convince a policyowner to cancel their
current policy so that they can purchase a new life insurance policy with another company
23. what is floridas definition of life insurance replacement: a transaction in which a new
policy is bought and an old policy is terminated
24. a sole proprietor may use this plan only if the employees of this business
are included: keogh pension plan
25. a primary beneficiary has died before the insured in a life insurance policy.
a contingent beneficiary is also named in the policy. which of the following
will occur when the insured dies: proceeds will go to the contingent beneficiary
26. Upon delivery of a rated life insurance policy, the Producer must obtain
each of the following EXCEPT: signed hipaa disclosure
27. which of these is not relevant when the determining the amount of person-
al life insurance needed: local unemployment rates
