FLORIDA LIFE AND HEALTH 2-15 FINAL EXAM 2026 UPDATE
QUESTIONS AND CORRECT VERIFIED ASWERS ALREADY
GRADED A+ (BRAND NEW VISIONS)
PPO - ANS-More flexibility, out of network at higher cost
Fee for service - ANS-Provider paid per service
First dollar coverage - ANS-No deductible
Major medical excludes - ANS-Work-related injuries (workers comp)
Dread disease - ANS-Covers specific named diseases only
HIPAA individually identifiable - ANS-Health claim information
Pre-existing — regular health - ANS-Up to 12 months
Pre-existing — Medicare Supplement - ANS-Up to 6 months
Group health underwriting - ANS-Group as whole, no individual decline
Dependent child extension - ANS-Incapable of employment AND chiefly dependent on
policyowner
ANNUITIES- Purpose - ANS-Guaranteed income, protects against outliving money
,ANNUITIES- Straight life - ANS-Highest monthly payout, stops at death
ANNUITIES- Joint and survivor - ANS-Lower payout, continues to survivor
ANNUITIES- Life with period certain - ANS-Pays for life or guaranteed period, whichever longer
ANNUITIES- Annuity tax ramification must disclose - ANS-When replacing or exchanging
ANNUITIES- Suitability NOT required - ANS-Marital status
ANNUITIES- Selling variable annuities requires - ANS-Life and Variable contracts exam
VIATICAL SETTLEMENTS- Viator - ANS-Terminally ill policyholder selling the policy
VIATICAL SETTLEMENTS- Provider - ANS-Company buying the policy
VIATICAL SETTLEMENTS- Broker - ANS-Shops policy to multiple providers for best price
VIATICAL SETTLEMENTS- Amount received - ANS-Less than face value, more than cash
surrender value
VIATICAL SETTLEMENTS- Tax treatment - ANS-Tax free if terminally ill
OASDI stands for - ANS-Old-Age, Survivors, and Disability Insurance
, Social Security funded by - ANS-Payroll tax on taxable wage base
COBRA — employer minimum - ANS-20 employees
COBRA — same coverage - ANS-Yes
COBRA — employer pays - ANS-NO — employee pays up to 102%
HSA paired with - ANS-High Deductible Health Plan (HDHP)
HSA — owner cannot control - ANS-Employer contribution amount
HSA — triple tax advantage - ANS-Deductible contributions, tax-free growth, tax-free medical
withdrawals
UNDERWRITING- MIB - ANS-Medical Information Bureau — database of medical history
UNDERWRITING- MIB consists of - ANS-Life and health insurance companies
UNDERWRITING- Underwriter's primary responsibility - ANS-Protect against adverse selection
UNDERWRITING- Agent cannot do - ANS-Authorize claim payments, determine final rate
classification
UNDERWRITING- Preferred risk - ANS-Below average likelihood of loss
UNDERWRITING- Substandard risk - ANS-Above average likelihood of loss
QUESTIONS AND CORRECT VERIFIED ASWERS ALREADY
GRADED A+ (BRAND NEW VISIONS)
PPO - ANS-More flexibility, out of network at higher cost
Fee for service - ANS-Provider paid per service
First dollar coverage - ANS-No deductible
Major medical excludes - ANS-Work-related injuries (workers comp)
Dread disease - ANS-Covers specific named diseases only
HIPAA individually identifiable - ANS-Health claim information
Pre-existing — regular health - ANS-Up to 12 months
Pre-existing — Medicare Supplement - ANS-Up to 6 months
Group health underwriting - ANS-Group as whole, no individual decline
Dependent child extension - ANS-Incapable of employment AND chiefly dependent on
policyowner
ANNUITIES- Purpose - ANS-Guaranteed income, protects against outliving money
,ANNUITIES- Straight life - ANS-Highest monthly payout, stops at death
ANNUITIES- Joint and survivor - ANS-Lower payout, continues to survivor
ANNUITIES- Life with period certain - ANS-Pays for life or guaranteed period, whichever longer
ANNUITIES- Annuity tax ramification must disclose - ANS-When replacing or exchanging
ANNUITIES- Suitability NOT required - ANS-Marital status
ANNUITIES- Selling variable annuities requires - ANS-Life and Variable contracts exam
VIATICAL SETTLEMENTS- Viator - ANS-Terminally ill policyholder selling the policy
VIATICAL SETTLEMENTS- Provider - ANS-Company buying the policy
VIATICAL SETTLEMENTS- Broker - ANS-Shops policy to multiple providers for best price
VIATICAL SETTLEMENTS- Amount received - ANS-Less than face value, more than cash
surrender value
VIATICAL SETTLEMENTS- Tax treatment - ANS-Tax free if terminally ill
OASDI stands for - ANS-Old-Age, Survivors, and Disability Insurance
, Social Security funded by - ANS-Payroll tax on taxable wage base
COBRA — employer minimum - ANS-20 employees
COBRA — same coverage - ANS-Yes
COBRA — employer pays - ANS-NO — employee pays up to 102%
HSA paired with - ANS-High Deductible Health Plan (HDHP)
HSA — owner cannot control - ANS-Employer contribution amount
HSA — triple tax advantage - ANS-Deductible contributions, tax-free growth, tax-free medical
withdrawals
UNDERWRITING- MIB - ANS-Medical Information Bureau — database of medical history
UNDERWRITING- MIB consists of - ANS-Life and health insurance companies
UNDERWRITING- Underwriter's primary responsibility - ANS-Protect against adverse selection
UNDERWRITING- Agent cannot do - ANS-Authorize claim payments, determine final rate
classification
UNDERWRITING- Preferred risk - ANS-Below average likelihood of loss
UNDERWRITING- Substandard risk - ANS-Above average likelihood of loss
