Chapter exam - Florida laws and rules Questions and Answers

According to Florida law, an additional notice must be issued after the standard grace period has expired for policyowners age - Answer- 64 The waiting period for a pre-existing condition under a Medicare Supplement policy may NOT go beyond - Answer- 6 months Which of the following employer tasks does a Professional Employer Organization normally handle? - Answer- Administration tasks Which of the following is an example of an Unfair Trade Practice? - Answer- coercion Which two entities regulate variable annuities? - Answer- Department of Financial Services; and Securities Exchange Commission Which of the following is NOT required in the Outline of Coverage for a health insurance policy? - Answer- Projection of the policy's future costs Which action could result in a hearing being ordered by the Department of Financial Services? - Answer- Performing insurance transactions without a license All of these are a prerequisite for becoming a licensed agent EXCEPT - Answer- to graduate from high school W gave W's age as 50 when W purchased a Life policy. At the time of W's death seven years later, the company discovered W's true age at issue had been 59. What would the normal procedure be under the misstatement of age provision in regard to the payment of the death claim? - Answer- The proceeds would be reduced based on whatever the premium would have been if purchased at age 59 In Florida, the underwriting and issuance of a master group health policy requires that all employees - Answer- are eligible to participate, regardless of their individual health history Which of the following is NOT a consequence for placing business with an unauthorized insurer? - Answer- First degree misdemeanor According to Florida, which of the following situations would a dependent handicapped child NOT be covered under a Family Health Policy? - Answer- The premiums are not paid When replacing or exchanging an annuity, the age