PTA LAWS AND RULES FLORIDA FINAL EXAM LATEST REAL EXAM ALL QUESTIONS AND CORRECT ANSWERS|A+GRADE

PTA LAWS AND RULES FLORIDA FINAL EXAM LATEST REAL EXAM ALL QUESTIONS AND CORRECT ANSWERS|A+GRADE All of the following are Nonforfeiture Options EXCEPT A. Cash Surrender Option B. Extended Term Option C. Reduced Paid-Up Option D. Automatic Premium Loan Option - ANSWER- D. Automatic Premium Loan Option What do Dread Disease policies cover? - ANSWER- a specific disease or illness In Florida, most life insurance policies have a contestability period of - ANSWER- 2 years J is an agent who recently told a claimant that his rights might be impaired if he does not complete a release form within a specified time. What could this agent be found guilty of? - ANSWER- coercion Convincing a prospective insured to buy an insurance policy based on exaggerations is called - ANSWER- misrepresentation Upon reaching the limiting age, a handicapped child can extend their health insurance coverage as a dependent - ANSWER- only if the child is incapable of employment and chiefly dependent on the policyowner Which of the following provisions is NOT required in HMO contracts/certificates? A. Enrollment B. Rates shall not be excessive C. No pre-existing exclusions for children D. Seven-day grace period - ANSWER- D. 7 days grace period Which of the following is a standard provision of the conversion privileges in a Group Life policy? - ANSWER- Group Life coverage can be converted to an individual policy at regular rates on an attained-age basis According to Florida Law, in which of the following situations would a dependent handicapped child NOT be covered under a Family Health policy? A. The handicapped child has reached the limiting age B. The premiums for the handicapped child are not paid C. The handicapped child becomes a full-time student D. The family moves outside the provider network - ANSWER- B. The premiums for the handicapped child are not paid An example of an unfair claims practice would be - ANSWER- failing to effectuate prompt, fair, and equitable settlements of a claim Under Florida law, which of the following provisions is NOT required in a Medicare Supplement policy? A. Suitability form B. Guaranteed issue C. Free-look period of 30 days D. Limitation on pre-existing conditions for up to 12 months - ANSWER- D. Limitation on pre-existing conditions for up to 12 months Which of the following areas of state regulation is NOT protected by the savings clause in ERISA? A. Insurance B. Commerce C. Banking D. Securities - ANSWER- B. Commerce The act of an insurance company publishing misleading information about its policy's provisions is called - ANSWER- False advertising An insurance company can contest a life insurance contract due to application fraud within - ANSWER- 2 years The Bureau of Unclaimed Property is overseen by the - ANSWER- chief financial officer What is Florida's definition of Life insurance replacement? - ANSWER- A transaction in which a new policy is bought and an old policy is terminated S takes out a health insurance policy which contains a provision that states that the agent does not have the authority to change the policy or waive any of its provisions. Which health policy provision is this? - ANSWER- entire contract All of the following will result in the suspension of an agent's license EXCEPT A. intentionally misrepresenting the provisions of a policy B. acting with fiduciary responsibility C. forging a name on an insurance application D. being convicted of a felony - ANSWER- B. acting with fiduciary responsibility Florida requires that coverage for newborns begins "from the moment of birth" and continues for - ANSWER- 18 months The waiting period for a pre-existing condition under a Medicare Supplement policy may NOT go beyond A. 1 month B. 3 months C. 6 months D. 12 months - ANSWER- C. 6 months