214 Florida Insurance Exam/ 164 Quizzes &
Correct Ans/ 2024-2025.
Which statement regarding annuities is CORRECT? - Answer: Variable annuity
units are fixed but the annuity payment will vary according to the value of the
annuity unit.
In order to be considered currently insured and thus eligible for limited survivor
benefits from Social Security, a worker must have earned ___ credits during the
13-quarter period ending with the quarter in which the worker died. - Answer: 6
Social security is also known as: - Answer: Old Age Survivors and Disability
Insurance (OASDI)
Page 1 of 27
,Insurance is not intended to protect against? - Answer: Speculative Risk
Under a family plan life insurance policy, coverage on the breadwinner is often
provided by which of the following insurance types? - Answer: Whole Life
Which of the following statements regarding annuity settlement or payout options
is NOT true? - Answer: If the annuitant dies before the principal sum is depleted,
the Refund Life Annuity Option will pay the entire annuity amount to the
beneficiary in a lump sum payment or over scheduled installments.
The following statements regarding 401(k) retirement plans are correct EXCEPT: -
Answer: Plans rarely have a matching contribution component by an employer
All of the statements below pertaining to group life insurance are correct EXCEPT:
- Answer: If the insurance coverage is less than $75,000, employees do not have
to report the employer-paid premiums as income
According to Florida Statues, entering into any agreement to commit any act of
intimidation resulting in the business of insurance is known as: - Answer: Coercion
William, age 67, has owned his life insurance policy for the past 15 years and has
mailed his monthly premiums to his life insurance company. Last month he failed
to mail the monthly payment on his premium due date as well as during his
policy's grace period. As a result, which of the following scenarios will MOST likely
occur? - Answer: The insurer will provide notification of impending lapse in
Page 2 of 27
, coverage, and allow at least 21 additional days beyond the grace period to make a
payment to prevent the policy from lapse
Before executing an exchange of an annuity contract resulting from a
recommendation to a senior consumer, an insurance agent should make
reasonable efforts to obtain information from the applicant concerning the
suitability of the recommendation on an approved form, which upon completion,
must be signed by the applicant and agent. Within what period of time must an
agent submit this form to the insurer once it is complete? - Answer: Within 10
days
Shelly is considered to be terminally ill and has decided to sell her life insurance
policy in exchange for living benefits to fulfill some final comforts and expenses
before her death. In selling her life insurance policy, Shelly is referred to as
a(n)_________and she will receive a percentage of her life policy's face amount in
exchange for ownership of her policy. - Answer: Viator
Which of the following is NOT a type of speculative risk? - Answer:
Unemployment
Which agency collects and provides reliable medical information regarding an
applicant's health history? - Answer: The MIB
Tonya failed to pay her life policy's premium on the date in which it is normally
due and is currently 23 days late. As a result of her policy's grace period provision,
Page 3 of 27
Correct Ans/ 2024-2025.
Which statement regarding annuities is CORRECT? - Answer: Variable annuity
units are fixed but the annuity payment will vary according to the value of the
annuity unit.
In order to be considered currently insured and thus eligible for limited survivor
benefits from Social Security, a worker must have earned ___ credits during the
13-quarter period ending with the quarter in which the worker died. - Answer: 6
Social security is also known as: - Answer: Old Age Survivors and Disability
Insurance (OASDI)
Page 1 of 27
,Insurance is not intended to protect against? - Answer: Speculative Risk
Under a family plan life insurance policy, coverage on the breadwinner is often
provided by which of the following insurance types? - Answer: Whole Life
Which of the following statements regarding annuity settlement or payout options
is NOT true? - Answer: If the annuitant dies before the principal sum is depleted,
the Refund Life Annuity Option will pay the entire annuity amount to the
beneficiary in a lump sum payment or over scheduled installments.
The following statements regarding 401(k) retirement plans are correct EXCEPT: -
Answer: Plans rarely have a matching contribution component by an employer
All of the statements below pertaining to group life insurance are correct EXCEPT:
- Answer: If the insurance coverage is less than $75,000, employees do not have
to report the employer-paid premiums as income
According to Florida Statues, entering into any agreement to commit any act of
intimidation resulting in the business of insurance is known as: - Answer: Coercion
William, age 67, has owned his life insurance policy for the past 15 years and has
mailed his monthly premiums to his life insurance company. Last month he failed
to mail the monthly payment on his premium due date as well as during his
policy's grace period. As a result, which of the following scenarios will MOST likely
occur? - Answer: The insurer will provide notification of impending lapse in
Page 2 of 27
, coverage, and allow at least 21 additional days beyond the grace period to make a
payment to prevent the policy from lapse
Before executing an exchange of an annuity contract resulting from a
recommendation to a senior consumer, an insurance agent should make
reasonable efforts to obtain information from the applicant concerning the
suitability of the recommendation on an approved form, which upon completion,
must be signed by the applicant and agent. Within what period of time must an
agent submit this form to the insurer once it is complete? - Answer: Within 10
days
Shelly is considered to be terminally ill and has decided to sell her life insurance
policy in exchange for living benefits to fulfill some final comforts and expenses
before her death. In selling her life insurance policy, Shelly is referred to as
a(n)_________and she will receive a percentage of her life policy's face amount in
exchange for ownership of her policy. - Answer: Viator
Which of the following is NOT a type of speculative risk? - Answer:
Unemployment
Which agency collects and provides reliable medical information regarding an
applicant's health history? - Answer: The MIB
Tonya failed to pay her life policy's premium on the date in which it is normally
due and is currently 23 days late. As a result of her policy's grace period provision,
Page 3 of 27
