Florida 2-15 Insurance License Exam Questions And Answers

Florida 2-15 Insurance License Exam Questions And Answers Accumulation units are converted into annuity units: - ANS at the time of annuity payout. A group life insurance plan in which the employer pays the entire premium is known as a ________________ plan. - ANS noncontributory If a disabled worker covered under Social Security disability benefits recovers and then is disabled again within five years, a new waiting period is required before benefits begin again. - ANS FALSE Robert had an accident and qualified for Social Security disability. Given the waiting period, when will Robert begin to receive benefits? - ANS After 5 months The Insuring Clause includes all of the following EXCEPT the - ANS beneficiary Mutualization occurs when a stock company turns to a __________ company. - ANS mutual To provide a safeguard for insureds, most major medical policies contain a ____________ feature that limits the insured's out-of-pocket expenses. - ANS stop-loss Tom is a newly appointed life, health and variable annuity agent with Acme Insurance Agency. He is writing his first insurance policy on his brother-in-law's life. Who does Tom legally represent in this transaction? - ANS Acme Insurance Agency An insurance clause is a distinct article in a formal document that establishes the rules in the contract that _____________________ must adhere to. - ANS both the insurer and the insured "ACC" refers to the type of disability that prevents someone from performing the job he was performing prior to the disability. - ANS FALSE Which statement is CORRECT about the Department of Financial Services' right to examine an agent's records? - ANS An examination can be conducted at any time to discover any unfair trade practices. Bill gives Jim a couple of tickets to a Florida Gators game to thank him for purchasing a policy. This is an example of: - ANS rebating ____________ term insurance provides a level amount of protection for a specified period, after which the policy expires. - ANS Level Business overhead expense (B.O.E.) insurance does not provide benefits to cover the business owner's salary. - ANS TRUE Level, decreasing, and increasing insurance are all basic forms of ____________ insurance. - ANS term Hospice services are covered under Medicare Part A. - ANS TRUE Under Florida law, group health insurers must offer mental and nervous disorder insurance to policyowners. - ANS TRUE Deductibles under a group major medical plan usually run from $250 to $500; whereas individual health plans usually run from: - ANS $1,000 plus. Every HMO subscriber must receive a benefits package that includes a copy of the HMO contract and certificate, and: - ANS a member's handbook. A life insurance policy will not be reinstated if it has been: - ANS surrendered for its cash value. Which of the following is NOT a type of permanent life insurance? - ANS Term Life In Florida, a ______________ must sign for and on behalf of a minor purchasing life insurance. - ANS parent or legal guardian When an agent spreads a false story that damages a competing agent's reputation, the offense is called: - ANS defamation