Florida Insurance Law and Rules Actual
Test Containing 80 Questions & Answers
2024
Which of the following is a standard provision of the conversion privileges in a
Group Life policy? - ANS: Group Life coverage can be converted to an individual
policy at regular rates on an attained-age basis
What are adjustable rates for life policy loans in Florida based on? - ANS: Moody's
corporate bond index
1|Page
, A life insurance policyowner may sell their policy to a(n) _____ in order to receive
a percentage of the policy's face value. - ANS: viatical settlement provider
What do Dread Disease policies cover? - ANS: A specific disease or illness
What is the required minimum percentage of employee participation for a
noncontributory group health insurance plan according to Florida Law? - ANS: 0
All of the following entries are classified under the four principal areas of Florida
insurance law EXCEPT - ANS: An agent's commission
K is an agent who made an improper sale of an annuity to a client. Which of the
following corrective actions would the Department of Financial Services likely
order K to take? - ANS: Pay monetary restitution to the client
Under an Individual Disability policy in Florida, what is the minimum schedule of
time in which claims must be made to an insured? - ANS: Monthly
Which of the following acts is an agent NOT authorized to do on behalf of an
insurer? - ANS: Authorize claim payments
All of these are a prerequisite for becoming a licensed agent EXCEPT - ANS:
Graduate from high school
2|Page
Test Containing 80 Questions & Answers
2024
Which of the following is a standard provision of the conversion privileges in a
Group Life policy? - ANS: Group Life coverage can be converted to an individual
policy at regular rates on an attained-age basis
What are adjustable rates for life policy loans in Florida based on? - ANS: Moody's
corporate bond index
1|Page
, A life insurance policyowner may sell their policy to a(n) _____ in order to receive
a percentage of the policy's face value. - ANS: viatical settlement provider
What do Dread Disease policies cover? - ANS: A specific disease or illness
What is the required minimum percentage of employee participation for a
noncontributory group health insurance plan according to Florida Law? - ANS: 0
All of the following entries are classified under the four principal areas of Florida
insurance law EXCEPT - ANS: An agent's commission
K is an agent who made an improper sale of an annuity to a client. Which of the
following corrective actions would the Department of Financial Services likely
order K to take? - ANS: Pay monetary restitution to the client
Under an Individual Disability policy in Florida, what is the minimum schedule of
time in which claims must be made to an insured? - ANS: Monthly
Which of the following acts is an agent NOT authorized to do on behalf of an
insurer? - ANS: Authorize claim payments
All of these are a prerequisite for becoming a licensed agent EXCEPT - ANS:
Graduate from high school
2|Page
