Exam Simulator- Florida Life and Health
State Exam Simulator
Which of the following statements about guaranteed renewable health insurance policy is
correct? - ANSPremiums normally increase at the time of renewal.
The issuer must provide a perspective buyer with an? - ANSBuyers guide and policy summary
T would like to be assured $10,000 is available in 10 years to replace a roof on his house. What
kind of $10,000 policy should T purchase? - ANSTen-year Endowment
According to the time payment of claims provision, the insurer must pay disability income
benefits no less frequently then which of the following options? - ANSMonthly
Which of the following is the most important factor when deciding how much disability income
coverage an applicant should purchase? - ANSApplicants monthly income
Which two entitles regulate variable annuities? - ANSDepartment of Financial Services;
Securities Exchange Commission.
The amount of coverage on a group life policy is limited to? - ANSThe insured's total loan value
The provision that can be used to put on insurance policy back in force after it has lapsed due to
nonpayment is called? - ANSReinstatement
Which product would best serve a retired individual looking to invest a lump-sum of money
through an insurance company? - ANSAnnuity
According to Florida law, a group life insurance policy requires a minimum how many insureds?
- ANSNo minimum
Multiple employer welfare arrangement (MEWA) provides what type of benefits? -
ANSInsurance
In a qualified retirement plan, the yearly contributions to an employee's account? - ANSAre
restricted to maximum level set by the IRS
All of the following entries are classified under the four principal areas of Florida insurance law
except? - ANSAn agent's commission
,According to Florida's life insurance replacement law, about policyowner must be provided with
the written comparison and summary statement when it's required by? - ANSThe policyowner
On delivery of policy, a signed statement of good health is typically request if? - ANSThe
application was submitted without the initial premium.
K is the insured and P is the sole beneficiary on an accidental death and dismemberment
insurance policy. Both are involved in a fatal accident where K dies before P. Under the common
disaster provision, which of these statements is true? - ANSProceeds will be paid to P's estate
An insured is past due on his life insurance premium but is still within the grace period. What will
the beneficiary receive if the insured dies during the grace period.? - ANSFull face amount
minus any past due premiums
A business overhead expens policy would cover which of the following if a business owner
becomes disabled? - ANSUtilities and office rent
Employers with less then —— employees are affected by Florida health insurance coverage
continuation act (Mini COBRA)? - ANS20
S is employer by large corporation that provides group health coverage for its employees and
their dependents. If S dies, The company must allow his surviving spouse and dependents to
continue their group health coverage for a maximum of how many months on the cobra
regulations? - ANS36 months (under COBRA)
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? -
ANSCoercion
An employer that offers a qualified retirement plan to its employees is eligible to? - ANSMake
tax-deductible contribution to the plan
Which of the following employees may not be excluded from the group life plan? - ANSFull-time
employees after the probation period.
When is the face amount of a whole life policy paid? - ANSWhen the insured dies or at the
policies maturity date whichever happens first.
Major medical policies typically? - ANSContain deductible and coinsurance
Which of the following provisions is not required in HMO contracts certificates? - ANSSeven-day
grace period
, The health insurance program which is administrated by each state and founded by both the
federal and state government is called? - ANSMadicaid
On insured pays premium on an annual basis for an individual health insurance policy. What is
the minimum number of days for the grace period Provision? - ANS31
Upon reaching the limiting age, a handicapped child can extend their health insurance coverage
as a dependent? - ANSOnly if the child is incapable of employment and chiefly depend on the
policy owner
P is producer who notice five questions on the life application where not answer. What action
would P take? - ANSSet up meeting with the applicant to answer the remaining questions
K becomes ill after traveling overseas and is unable to work for three months, what kind of
policy would cover her loss of income? - ANSDisability income
What are adjustable rates for life policy loan in Florida based on? - ANSMoody's corporate bond
index
When determining the monthly benefit amount for disability income policy, the factor that limits
the amount a prospective insured may purchased is - ANSIncome
Basic hospital and surgical policy benefits are? - ANSLower than actual expenses incurred.
In Florida which the following practitioners normally do not receive payment from health
insurance policies? - ANSNaturopath
J purchase a disability income policy that only Jay can terminate and on which the rate will
never increase above those illustrated in the policy. Which of the following types of policies did J
purchase? - ANSNoncancelable
The provision in a group health policy that allows the insurer to postpone coverage for a
covered illness 30 days after the policy's effective date is a reference to as the? - ANSWaiting
period
Nonprofit life insurance providers that are covered by special section in Florida insurance code
are called? - ANSFraternal Life insurance organizations
Which of the following is true if the owner of IRA names their spouse as beneficiary, but then
dies before any distributions are made? - ANSThe account can be rolled into a surviving
spouse's IRA
According to Florida law group life insurance conversion privilege must not? - ANSRequire
evidence of insurability
State Exam Simulator
Which of the following statements about guaranteed renewable health insurance policy is
correct? - ANSPremiums normally increase at the time of renewal.
The issuer must provide a perspective buyer with an? - ANSBuyers guide and policy summary
T would like to be assured $10,000 is available in 10 years to replace a roof on his house. What
kind of $10,000 policy should T purchase? - ANSTen-year Endowment
According to the time payment of claims provision, the insurer must pay disability income
benefits no less frequently then which of the following options? - ANSMonthly
Which of the following is the most important factor when deciding how much disability income
coverage an applicant should purchase? - ANSApplicants monthly income
Which two entitles regulate variable annuities? - ANSDepartment of Financial Services;
Securities Exchange Commission.
The amount of coverage on a group life policy is limited to? - ANSThe insured's total loan value
The provision that can be used to put on insurance policy back in force after it has lapsed due to
nonpayment is called? - ANSReinstatement
Which product would best serve a retired individual looking to invest a lump-sum of money
through an insurance company? - ANSAnnuity
According to Florida law, a group life insurance policy requires a minimum how many insureds?
- ANSNo minimum
Multiple employer welfare arrangement (MEWA) provides what type of benefits? -
ANSInsurance
In a qualified retirement plan, the yearly contributions to an employee's account? - ANSAre
restricted to maximum level set by the IRS
All of the following entries are classified under the four principal areas of Florida insurance law
except? - ANSAn agent's commission
,According to Florida's life insurance replacement law, about policyowner must be provided with
the written comparison and summary statement when it's required by? - ANSThe policyowner
On delivery of policy, a signed statement of good health is typically request if? - ANSThe
application was submitted without the initial premium.
K is the insured and P is the sole beneficiary on an accidental death and dismemberment
insurance policy. Both are involved in a fatal accident where K dies before P. Under the common
disaster provision, which of these statements is true? - ANSProceeds will be paid to P's estate
An insured is past due on his life insurance premium but is still within the grace period. What will
the beneficiary receive if the insured dies during the grace period.? - ANSFull face amount
minus any past due premiums
A business overhead expens policy would cover which of the following if a business owner
becomes disabled? - ANSUtilities and office rent
Employers with less then —— employees are affected by Florida health insurance coverage
continuation act (Mini COBRA)? - ANS20
S is employer by large corporation that provides group health coverage for its employees and
their dependents. If S dies, The company must allow his surviving spouse and dependents to
continue their group health coverage for a maximum of how many months on the cobra
regulations? - ANS36 months (under COBRA)
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? -
ANSCoercion
An employer that offers a qualified retirement plan to its employees is eligible to? - ANSMake
tax-deductible contribution to the plan
Which of the following employees may not be excluded from the group life plan? - ANSFull-time
employees after the probation period.
When is the face amount of a whole life policy paid? - ANSWhen the insured dies or at the
policies maturity date whichever happens first.
Major medical policies typically? - ANSContain deductible and coinsurance
Which of the following provisions is not required in HMO contracts certificates? - ANSSeven-day
grace period
, The health insurance program which is administrated by each state and founded by both the
federal and state government is called? - ANSMadicaid
On insured pays premium on an annual basis for an individual health insurance policy. What is
the minimum number of days for the grace period Provision? - ANS31
Upon reaching the limiting age, a handicapped child can extend their health insurance coverage
as a dependent? - ANSOnly if the child is incapable of employment and chiefly depend on the
policy owner
P is producer who notice five questions on the life application where not answer. What action
would P take? - ANSSet up meeting with the applicant to answer the remaining questions
K becomes ill after traveling overseas and is unable to work for three months, what kind of
policy would cover her loss of income? - ANSDisability income
What are adjustable rates for life policy loan in Florida based on? - ANSMoody's corporate bond
index
When determining the monthly benefit amount for disability income policy, the factor that limits
the amount a prospective insured may purchased is - ANSIncome
Basic hospital and surgical policy benefits are? - ANSLower than actual expenses incurred.
In Florida which the following practitioners normally do not receive payment from health
insurance policies? - ANSNaturopath
J purchase a disability income policy that only Jay can terminate and on which the rate will
never increase above those illustrated in the policy. Which of the following types of policies did J
purchase? - ANSNoncancelable
The provision in a group health policy that allows the insurer to postpone coverage for a
covered illness 30 days after the policy's effective date is a reference to as the? - ANSWaiting
period
Nonprofit life insurance providers that are covered by special section in Florida insurance code
are called? - ANSFraternal Life insurance organizations
Which of the following is true if the owner of IRA names their spouse as beneficiary, but then
dies before any distributions are made? - ANSThe account can be rolled into a surviving
spouse's IRA
According to Florida law group life insurance conversion privilege must not? - ANSRequire
evidence of insurability
