XCEL STATE EXAM SIMULATOR FLORIDA - COMPLETE
QUESTIONS AND DETAILED SOLUTIONS LATEST UPDATE
THIS YEAR JUST RELEASED
Question 1: Which of the following is NOT an unfair claim
settlement practice?
A. Failing to acknowledge and act promptly with respect to an
insurance claim
B. Compelling an insured to initiate a lawsuit by offering less on an
insurance claim
C. Failing to accept or deny a claim within reasonable time after proof
of loss is submitted
D. Needing written documentation of claim details
Answer:
Needing written documentation of claim details
Question 2: According to Florida law, an additional lapse notice
must be issued after the standard grace period has expired for
policyowners age
A. 21 and under
B. 59 1/2 or older
C. 64 years or older
D. 69 or older
Answer:
64 years or older
Question 3: An insurance company incorporated under the laws of
the state in which its home office is located is called a(n) ____
company.
, A. domestic
B. alien
C. foreign
D. authorized
Answer:
domestic
Question 4: Group Life policies in Florida are required to contain a
conversion privilege that allows for conversion
A. with evidence of insurability
B. to an individual policy for a stated period of time
C. only if the premiums are paid by the employer
D. to an individual policy at anytime
Answer:
to an individual policy for a stated period of time
Question 5: Which Unfair Trade Practice involves an agent
suggesting that an insurance policy is like a share of stock?
A. Twisting
B. Intimidation
C. Misrepresentation
D. Sliding
Answer:
Misrepresentation
Question 6: Within how many days must a licensee notify the
Department of Financial Services of a change in address?
A. 30
, B. 60
C. 90
D. 120
Answer:
30
Question 7: In Florida, what is the maximum percentage of
controlled business an agent may produce?
A. 30%
B. 40%
C. 50%
D. 60%
Answer:
50%
Question 8: According to Florida law, when must an agent deliver
the Outline of Coverage to a Medicare Supplement applicant?
A. At the time of application
B. At the time of policy delivery
C. Within 14 days of the time of application
D. Within 14 days of policy delivery
Answer:
At the time of application
Question 9: According to Florida law, group life insurance
conversion privileges must NOT
A. allow the converted policy to exceed 75% of the original group life
amount
, B. allow a time period to convert group life coverage to an individual
life policy
C. require a rate increase
D. require evidence of insurability
Answer:
require evidence of insurability
Question 10: The minimum age at which a person can sign a life
insurance application is
A. 15 years
B. 16 years
C. 17 years
D. 18 years
Answer:
15 years
Question 11: An example of false advertising would be
A. Paid testimonials from celebrity endorsements
B. An insurer exaggerating its dividends in a magazine advertisement
C. An agent spending more than $25 on marketing gifts for a client
D. An insurer advertising in an insurance trade journal
Answer:
An insurer exaggerating its dividends in a magazine advertisement
Question 12: Convincing a prospective insured to buy an insurance
policy based on exaggerations is called
A. rebating
B. intimidation
QUESTIONS AND DETAILED SOLUTIONS LATEST UPDATE
THIS YEAR JUST RELEASED
Question 1: Which of the following is NOT an unfair claim
settlement practice?
A. Failing to acknowledge and act promptly with respect to an
insurance claim
B. Compelling an insured to initiate a lawsuit by offering less on an
insurance claim
C. Failing to accept or deny a claim within reasonable time after proof
of loss is submitted
D. Needing written documentation of claim details
Answer:
Needing written documentation of claim details
Question 2: According to Florida law, an additional lapse notice
must be issued after the standard grace period has expired for
policyowners age
A. 21 and under
B. 59 1/2 or older
C. 64 years or older
D. 69 or older
Answer:
64 years or older
Question 3: An insurance company incorporated under the laws of
the state in which its home office is located is called a(n) ____
company.
, A. domestic
B. alien
C. foreign
D. authorized
Answer:
domestic
Question 4: Group Life policies in Florida are required to contain a
conversion privilege that allows for conversion
A. with evidence of insurability
B. to an individual policy for a stated period of time
C. only if the premiums are paid by the employer
D. to an individual policy at anytime
Answer:
to an individual policy for a stated period of time
Question 5: Which Unfair Trade Practice involves an agent
suggesting that an insurance policy is like a share of stock?
A. Twisting
B. Intimidation
C. Misrepresentation
D. Sliding
Answer:
Misrepresentation
Question 6: Within how many days must a licensee notify the
Department of Financial Services of a change in address?
A. 30
, B. 60
C. 90
D. 120
Answer:
30
Question 7: In Florida, what is the maximum percentage of
controlled business an agent may produce?
A. 30%
B. 40%
C. 50%
D. 60%
Answer:
50%
Question 8: According to Florida law, when must an agent deliver
the Outline of Coverage to a Medicare Supplement applicant?
A. At the time of application
B. At the time of policy delivery
C. Within 14 days of the time of application
D. Within 14 days of policy delivery
Answer:
At the time of application
Question 9: According to Florida law, group life insurance
conversion privileges must NOT
A. allow the converted policy to exceed 75% of the original group life
amount
, B. allow a time period to convert group life coverage to an individual
life policy
C. require a rate increase
D. require evidence of insurability
Answer:
require evidence of insurability
Question 10: The minimum age at which a person can sign a life
insurance application is
A. 15 years
B. 16 years
C. 17 years
D. 18 years
Answer:
15 years
Question 11: An example of false advertising would be
A. Paid testimonials from celebrity endorsements
B. An insurer exaggerating its dividends in a magazine advertisement
C. An agent spending more than $25 on marketing gifts for a client
D. An insurer advertising in an insurance trade journal
Answer:
An insurer exaggerating its dividends in a magazine advertisement
Question 12: Convincing a prospective insured to buy an insurance
policy based on exaggerations is called
A. rebating
B. intimidation
