Florida Insurance Exam/ 150 Quizzes with
Verified Ans/ 2024-2025.
The clause identifying which losses resulting from an accident or sickness are insured by the
policy is called the: - Answer: 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? - Answer: Conditional
A life insurance arrangement which circumvents insurable interest statutes is called: - Answer:
Investor-Originated 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? - Answer: Entire Contract
Page 1 of 18
,Within how many days after policy delivery can a Medicare Supplement policy be returned for a
100% premium refund? - Answer: 30
Which of the following is NOT an unfair claim settlement practice? - Answer: Needing written
documentation of claim details
Who is NOT required to sign a life insurance application? - Answer: Beneficiary
To be eligible for Social Security disability benefits, an employee must be unable to perform: -
Answer: any occupation
The type of annuity that can be purchased with one monetary deposit is called a(n): - Answer:
Immediate annuity
A life insurance application must be signed by all of these, EXCEPT: - Answer: beneficiary
Which of the following is considered an accurate statement of an unfair trade practice? -
Answer: 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): -
Answer: 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? - Answer: Carryover
provision
Insurance policies are considered aleatory contracts because - Answer: performance is
conditioned upon a future occurrence
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, Within how many days must a licensee notify the Department of Financial Services of a change
in address? - Answer: 30
Which organization was established to provide funds to protect an insured in the event of an
insurer's insolvency? - Answer: Florida Life and Health Insurance Guaranty Association
The clause in an Accident and Health policy which defines the benefit amounts the insurer will
pay is called the: - Answer: Insuring clause
When a policyowner cash surrenders a Universal Life insurance policy in it's early years, this may
be considered a red flag for a(n): - Answer: Anti-Money Laundering violation
According to the Time Payment of Claims provision, the insurer must pay Disability Income
benefits no less frequently than which of the following options? - Answer: Monthly
What would the Medical Information Bureau (MIB) identify? - Answer: Testing positive for
marijuana use from a previous screening
How would a contingent beneficiary receive the policy proceeds in an Accidental Death and
Dismemberment (AD&D) policy? - Answer: If the primary beneficiary dies before the insured
Under a Renewable Term policy, - Answer: the renewal premium is calculated on the basis of
the insured's attained age
Which of the following statements is true about most Blue Cross/Blue Shield organizations? -
Answer: They are nonprofit organizations
Page 3 of 18
Verified Ans/ 2024-2025.
The clause identifying which losses resulting from an accident or sickness are insured by the
policy is called the: - Answer: 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? - Answer: Conditional
A life insurance arrangement which circumvents insurable interest statutes is called: - Answer:
Investor-Originated 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? - Answer: Entire Contract
Page 1 of 18
,Within how many days after policy delivery can a Medicare Supplement policy be returned for a
100% premium refund? - Answer: 30
Which of the following is NOT an unfair claim settlement practice? - Answer: Needing written
documentation of claim details
Who is NOT required to sign a life insurance application? - Answer: Beneficiary
To be eligible for Social Security disability benefits, an employee must be unable to perform: -
Answer: any occupation
The type of annuity that can be purchased with one monetary deposit is called a(n): - Answer:
Immediate annuity
A life insurance application must be signed by all of these, EXCEPT: - Answer: beneficiary
Which of the following is considered an accurate statement of an unfair trade practice? -
Answer: 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): -
Answer: 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? - Answer: Carryover
provision
Insurance policies are considered aleatory contracts because - Answer: performance is
conditioned upon a future occurrence
Page 2 of 18
, Within how many days must a licensee notify the Department of Financial Services of a change
in address? - Answer: 30
Which organization was established to provide funds to protect an insured in the event of an
insurer's insolvency? - Answer: Florida Life and Health Insurance Guaranty Association
The clause in an Accident and Health policy which defines the benefit amounts the insurer will
pay is called the: - Answer: Insuring clause
When a policyowner cash surrenders a Universal Life insurance policy in it's early years, this may
be considered a red flag for a(n): - Answer: Anti-Money Laundering violation
According to the Time Payment of Claims provision, the insurer must pay Disability Income
benefits no less frequently than which of the following options? - Answer: Monthly
What would the Medical Information Bureau (MIB) identify? - Answer: Testing positive for
marijuana use from a previous screening
How would a contingent beneficiary receive the policy proceeds in an Accidental Death and
Dismemberment (AD&D) policy? - Answer: If the primary beneficiary dies before the insured
Under a Renewable Term policy, - Answer: the renewal premium is calculated on the basis of
the insured's attained age
Which of the following statements is true about most Blue Cross/Blue Shield organizations? -
Answer: They are nonprofit organizations
Page 3 of 18
