Florida 2-15 Insurance License Exam Update with questions and answer

Florida 2-15 Insurance License Exam Update with questions and answer Accumulation units are converted into annuity units: - at the time of annuity payout. A group life insurance plan in which the employer pays the entire premium is known as a ________________ plan. - 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. - FALSE Robert had an accident and qualified for Social Security disability. Given the waiting period, when will Robert begin to receive benefits? - After 5 months The Insuring Clause includes all of the following EXCEPT the - beneficiary Mutualization occurs when a stock company turns to a __________ company. - mutual To provide a safeguard for insureds, most major medical policies contain a ____________ feature that limits the insured's out-of-pocket expenses. - 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? - 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. - 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. - FALSE Which statement is CORRECT about the Department of Financial Services' right to examine an agent's records? - 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: - rebating ____________ term insurance provides a level amount of protection for a specified period, after which the policy expires. - Level