Florida Insurance Exam Questions and Answers(A+ Solution guide)

The clause identifying which losses resulting from an accident or sickness are insured by the policy is called the: - Insuring clause K applies for a life insurance policy on herself and submits the initial premium with the application. She is given a receipt by the agent stating that coverage begins immediately if the application is approved. What kind of receipt was used? - Conditional A life insurance arrangement which circumvents insurable interest statutes is called: - InvestorOriginated Life Insurance Which of the following health policy provisions states that the producer does NOT have the authority to change the policy or waive any of its provisions? - Entire Contract Within how many days after policy delivery can a Medicare Supplement policy be returned for a 100% premium refund? - 30 Which of the following is NOT an unfair claim settlement practice? - Needing written documentation of claim details Who is NOT required to sign a life insurance application? - Beneficiary To be eligible for Social Security disability benefits, an employee must be unable to perform: - any occupation The type of annuity that can be purchased with one monetary deposit is called a(n): - Immediate annuity A life insurance application must be signed by all of these, EXCEPT: - beneficiaryWhich of the following is considered an accurate statement of an unfair trade practice? - Twisting involves an agent using misrepresentation to convince a policyowner to cancel their current policy so that they can purchase a new life insurance policy with another company The Accelerated Death Benefit provision in a life insurance policy is also known as a(n): - Living Benefit Which of the following policy features allows an insured to defer current health charges to the following year's deductible instead of the current year's deducitble? - Carryover provision Insurance policies are considered aleatory contracts because - performance is conditioned upon a future occurrence Within how many days must a licensee notify the Department of Financial Services of a change in address? - 30 Which organization was established to provide funds to protect an insured in the event of an insurer's insolvency? - Florida Life and Health Insurance Guaranty Association