@@@@@@@@@@@@@@@################################################################################!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
DA LIFE &FLORIDA
HEALTH215
STATE
LIFEEXAM
HEALTH
SIMULATOR
INSURANCE
EXAM
LAW
BANK.pdf!@@@@@@@@@@@@@@@@@@@@@@@@@@@@##################################
PRACTICE EXAM, XCEL 2-15 FLORIDA LIFE & HEALTH STATE EXAM SIMULATOR EXAM BANK.pdf!@@@@@
FLORIDA 215 LIFE HEALTH INSURANCE
LAW PRACTICE EXAM, XCEL 2-15 FLORIDA
LIFE & HEALTH STATE EXAM SIMULATOR
EXAM BANK
FLORIDA 215 LIFE, HEALTH, INSURANCE LAW PRACTICE EXAM
ANSWERED
XCEL 2-15 FLORIDA LIFE & HEALTH STATE EXAM SIMULATOR
ANSWERED
Who elects the governing body of a metal Insurance company? -
ANSWER - The Policyholders
When a policy pays dividends to its policy holders is said to be? -
ANSWER - Participating
Which of these describe a participating insurance policy? -
ANSWER - Policy owners are entitled to receive dividends
@@@@@@@@@@@@@@@################################################################################!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
DA LIFE &FLORIDA
HEALTH215
STATE
LIFEEXAM
HEALTH
SIMULATOR
INSURANCE
EXAM
LAW
BANK.pdf!@@@@@@@@@@@@@@@@@@@@@@@@@@@@##################################
PRACTICE EXAM, XCEL 2-15 FLORIDA LIFE & HEALTH STATE EXAM SIMULATOR EXAM BANK.pdf!@@@@@
,@@@@@@@@@@@@@@@################################################################################!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
DA LIFE &FLORIDA
HEALTH215
STATE
LIFEEXAM
HEALTH
SIMULATOR
INSURANCE
EXAM
LAW
BANK.pdf!@@@@@@@@@@@@@@@@@@@@@@@@@@@@##################################
PRACTICE EXAM, XCEL 2-15 FLORIDA LIFE & HEALTH STATE EXAM SIMULATOR EXAM BANK.pdf!@@@@@
An insurance applicant MUST be informed of an investigation regarding his/her
reputation and character according to the? -
ANSWER - 1970 Fair credit reporting act
The Stated amount or percent of liquid assets that an insurer must have on hand that
will satisfy future obligations to its policyholders is called? -
ANSWER - Reserves
The Part of a life insurance policy GUARANTEED to be true is called? -
ANSWER - Warranty
At what point does an informal agreement become a binding contract? -
ANSWER - When consideration is provided by one of the parties to the contract
Who makes the legally enforceable promise in a unilateral insurance policy? -
ANSWER - The Insurance Company
When a third-party ownership is involved, applicants who also happen to be the stated
the primary beneficiary are required to have? -
ANSWER - Insurable interest in the proposed insured
@@@@@@@@@@@@@@@################################################################################!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
DA LIFE &FLORIDA
HEALTH215
STATE
LIFEEXAM
HEALTH
SIMULATOR
INSURANCE
EXAM
LAW
BANK.pdf!@@@@@@@@@@@@@@@@@@@@@@@@@@@@##################################
PRACTICE EXAM, XCEL 2-15 FLORIDA LIFE & HEALTH STATE EXAM SIMULATOR EXAM BANK.pdf!@@@@@
,@@@@@@@@@@@@@@@################################################################################!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
DA LIFE &FLORIDA
HEALTH215
STATE
LIFEEXAM
HEALTH
SIMULATOR
INSURANCE
EXAM
LAW
BANK.pdf!@@@@@@@@@@@@@@@@@@@@@@@@@@@@##################################
PRACTICE EXAM, XCEL 2-15 FLORIDA LIFE & HEALTH STATE EXAM SIMULATOR EXAM BANK.pdf!@@@@@
A policy of adhesion can only be modified by whom? -
ANSWER - The insurance company
Insurance policies are considered aleatory contracts because? -
ANSWER - Performance is conditioned upon a future occurrence
Q purchase $500k life insurance policy and pays $900 in premiums over the first six
months. Q dies suddenly and the beneficiary is paid $500,000. This exchange of
unequal values reflects which insurance contract features? -
ANSWER - Aleatory
What consists of an offer, acceptance, and consideration? -
ANSWER - The Contract
A Principal is NOT a type agent authority? -
ANSWER - True
Taking a receipt of premiums and holding them for the insurance company is an
example of? -
ANSWER - Fiduciary responsibility
@@@@@@@@@@@@@@@################################################################################!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
DA LIFE &FLORIDA
HEALTH215
STATE
LIFEEXAM
HEALTH
SIMULATOR
INSURANCE
EXAM
LAW
BANK.pdf!@@@@@@@@@@@@@@@@@@@@@@@@@@@@##################################
PRACTICE EXAM, XCEL 2-15 FLORIDA LIFE & HEALTH STATE EXAM SIMULATOR EXAM BANK.pdf!@@@@@
,@@@@@@@@@@@@@@@################################################################################!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
DA LIFE &FLORIDA
HEALTH215
STATE
LIFEEXAM
HEALTH
SIMULATOR
INSURANCE
EXAM
LAW
BANK.pdf!@@@@@@@@@@@@@@@@@@@@@@@@@@@@##################################
PRACTICE EXAM, XCEL 2-15 FLORIDA LIFE & HEALTH STATE EXAM SIMULATOR EXAM BANK.pdf!@@@@@
A Bilateral typically has characteristics describing the nature of an insurance contract. -
ANSWER - False
In regards to representation or warranties? –
ANSWER - If material to the RISK, false representations will void a policy
Statements made on an insurance application that are BELIEVED to be true to the best
of the applicants knowledge are called? -
ANSWER - Representations
A variable insurance policy? -
ANSWER - Does NOT guarantee a return on investment accounts
Whole life insurance is sometimes referred to as "Straight Life". What does the word
"Straight" indicate when using this phrase? –
ANSWER - The duration of premium payments
What type of policy would offer a 40- year old the quickest accumulation of cash value?
ANSWER - A 20-pay life
This life product is NOT considered interest sensitive?
ANSWER - Modified Whole Life
@@@@@@@@@@@@@@@################################################################################!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
DA LIFE &FLORIDA
HEALTH215
STATE
LIFEEXAM
HEALTH
SIMULATOR
INSURANCE
EXAM
LAW
BANK.pdf!@@@@@@@@@@@@@@@@@@@@@@@@@@@@##################################
PRACTICE EXAM, XCEL 2-15 FLORIDA LIFE & HEALTH STATE EXAM SIMULATOR EXAM BANK.pdf!@@@@@
DA LIFE &FLORIDA
HEALTH215
STATE
LIFEEXAM
HEALTH
SIMULATOR
INSURANCE
EXAM
LAW
BANK.pdf!@@@@@@@@@@@@@@@@@@@@@@@@@@@@##################################
PRACTICE EXAM, XCEL 2-15 FLORIDA LIFE & HEALTH STATE EXAM SIMULATOR EXAM BANK.pdf!@@@@@
FLORIDA 215 LIFE HEALTH INSURANCE
LAW PRACTICE EXAM, XCEL 2-15 FLORIDA
LIFE & HEALTH STATE EXAM SIMULATOR
EXAM BANK
FLORIDA 215 LIFE, HEALTH, INSURANCE LAW PRACTICE EXAM
ANSWERED
XCEL 2-15 FLORIDA LIFE & HEALTH STATE EXAM SIMULATOR
ANSWERED
Who elects the governing body of a metal Insurance company? -
ANSWER - The Policyholders
When a policy pays dividends to its policy holders is said to be? -
ANSWER - Participating
Which of these describe a participating insurance policy? -
ANSWER - Policy owners are entitled to receive dividends
@@@@@@@@@@@@@@@################################################################################!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
DA LIFE &FLORIDA
HEALTH215
STATE
LIFEEXAM
HEALTH
SIMULATOR
INSURANCE
EXAM
LAW
BANK.pdf!@@@@@@@@@@@@@@@@@@@@@@@@@@@@##################################
PRACTICE EXAM, XCEL 2-15 FLORIDA LIFE & HEALTH STATE EXAM SIMULATOR EXAM BANK.pdf!@@@@@
,@@@@@@@@@@@@@@@################################################################################!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
DA LIFE &FLORIDA
HEALTH215
STATE
LIFEEXAM
HEALTH
SIMULATOR
INSURANCE
EXAM
LAW
BANK.pdf!@@@@@@@@@@@@@@@@@@@@@@@@@@@@##################################
PRACTICE EXAM, XCEL 2-15 FLORIDA LIFE & HEALTH STATE EXAM SIMULATOR EXAM BANK.pdf!@@@@@
An insurance applicant MUST be informed of an investigation regarding his/her
reputation and character according to the? -
ANSWER - 1970 Fair credit reporting act
The Stated amount or percent of liquid assets that an insurer must have on hand that
will satisfy future obligations to its policyholders is called? -
ANSWER - Reserves
The Part of a life insurance policy GUARANTEED to be true is called? -
ANSWER - Warranty
At what point does an informal agreement become a binding contract? -
ANSWER - When consideration is provided by one of the parties to the contract
Who makes the legally enforceable promise in a unilateral insurance policy? -
ANSWER - The Insurance Company
When a third-party ownership is involved, applicants who also happen to be the stated
the primary beneficiary are required to have? -
ANSWER - Insurable interest in the proposed insured
@@@@@@@@@@@@@@@################################################################################!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
DA LIFE &FLORIDA
HEALTH215
STATE
LIFEEXAM
HEALTH
SIMULATOR
INSURANCE
EXAM
LAW
BANK.pdf!@@@@@@@@@@@@@@@@@@@@@@@@@@@@##################################
PRACTICE EXAM, XCEL 2-15 FLORIDA LIFE & HEALTH STATE EXAM SIMULATOR EXAM BANK.pdf!@@@@@
,@@@@@@@@@@@@@@@################################################################################!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
DA LIFE &FLORIDA
HEALTH215
STATE
LIFEEXAM
HEALTH
SIMULATOR
INSURANCE
EXAM
LAW
BANK.pdf!@@@@@@@@@@@@@@@@@@@@@@@@@@@@##################################
PRACTICE EXAM, XCEL 2-15 FLORIDA LIFE & HEALTH STATE EXAM SIMULATOR EXAM BANK.pdf!@@@@@
A policy of adhesion can only be modified by whom? -
ANSWER - The insurance company
Insurance policies are considered aleatory contracts because? -
ANSWER - Performance is conditioned upon a future occurrence
Q purchase $500k life insurance policy and pays $900 in premiums over the first six
months. Q dies suddenly and the beneficiary is paid $500,000. This exchange of
unequal values reflects which insurance contract features? -
ANSWER - Aleatory
What consists of an offer, acceptance, and consideration? -
ANSWER - The Contract
A Principal is NOT a type agent authority? -
ANSWER - True
Taking a receipt of premiums and holding them for the insurance company is an
example of? -
ANSWER - Fiduciary responsibility
@@@@@@@@@@@@@@@################################################################################!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
DA LIFE &FLORIDA
HEALTH215
STATE
LIFEEXAM
HEALTH
SIMULATOR
INSURANCE
EXAM
LAW
BANK.pdf!@@@@@@@@@@@@@@@@@@@@@@@@@@@@##################################
PRACTICE EXAM, XCEL 2-15 FLORIDA LIFE & HEALTH STATE EXAM SIMULATOR EXAM BANK.pdf!@@@@@
,@@@@@@@@@@@@@@@################################################################################!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
DA LIFE &FLORIDA
HEALTH215
STATE
LIFEEXAM
HEALTH
SIMULATOR
INSURANCE
EXAM
LAW
BANK.pdf!@@@@@@@@@@@@@@@@@@@@@@@@@@@@##################################
PRACTICE EXAM, XCEL 2-15 FLORIDA LIFE & HEALTH STATE EXAM SIMULATOR EXAM BANK.pdf!@@@@@
A Bilateral typically has characteristics describing the nature of an insurance contract. -
ANSWER - False
In regards to representation or warranties? –
ANSWER - If material to the RISK, false representations will void a policy
Statements made on an insurance application that are BELIEVED to be true to the best
of the applicants knowledge are called? -
ANSWER - Representations
A variable insurance policy? -
ANSWER - Does NOT guarantee a return on investment accounts
Whole life insurance is sometimes referred to as "Straight Life". What does the word
"Straight" indicate when using this phrase? –
ANSWER - The duration of premium payments
What type of policy would offer a 40- year old the quickest accumulation of cash value?
ANSWER - A 20-pay life
This life product is NOT considered interest sensitive?
ANSWER - Modified Whole Life
@@@@@@@@@@@@@@@################################################################################!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
DA LIFE &FLORIDA
HEALTH215
STATE
LIFEEXAM
HEALTH
SIMULATOR
INSURANCE
EXAM
LAW
BANK.pdf!@@@@@@@@@@@@@@@@@@@@@@@@@@@@##################################
PRACTICE EXAM, XCEL 2-15 FLORIDA LIFE & HEALTH STATE EXAM SIMULATOR EXAM BANK.pdf!@@@@@
