FL Life And Health Insurance 2-15 Latest
Upgrade Study Exam (165 Questions)
With 100% Correct And Verified Answers
N is covered by a Term Life policy and does not make the required
premium payment which was due August 1. N dies September 15.
What action will the insurer take? - Correct Answer-Claim will be
denied.
A contract where one party either accepts or rejects the terms of a
contract written by another party is called a contract of - Correct
Answer-adhesion
All of the following statements about Major Medical benefits are
true, EXCEPT: - Correct Answer-Benefits have no maximum limit
W gave W's age as 50 when W purchased a Life policy. At the time
of W's death seven years later, the company discovered W's true age
at issue had been 59. What would the normal procedure be under
the misstatement of age provision in regard to the payment of the
death claim? - Correct Answer-The proceeds would be reduced
based on whatever the premium would have been if purchased at
age 59.
All of these are considered sources of underwriting information
about an applicant, EXCEPT: - Correct Answer-Inspection Report
According to the Mandatory Uniform Policy Provisions, what is the
maximum amount of time after the premium due date during which
the policy remains in force even though the premium has not been
paid? - Correct Answer-31 days
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,Which provision allows the policy owner to change a term life policy
to a permanent one without providing proof of good health? -
Correct Answer-Conversion
What do families pay that are covered by the Florida Healthy Kids
Corporation? - Correct Answer-A portion of the premium
Which statement regarding third-party ownership of a life
insurance policy is true? - Correct Answer-It is used extensively in
estate planning as well as business circumstances.
Which of the following employees may NOT be excluded from a
group life plan? - Correct Answer-Full-time employees after the
probationary period.
Which of the following statements BEST describes what the Legal
Actions provision of an Accident and Health policy requires? -
Correct Answer-An insured must wait at least 60 days after Proof of
Loss has been submitted before a lawsuit can be filed.
What percentage of eligible persons must a policy cover in a
noncontributory group? - Correct Answer-100%
What are adjustable rates for life policy loans in Florida based on? -
Correct Answer-Moody's corporate bond index.
An underwriter determines that a life insurance applicant's risk should be
reclassified due to a health issue. This policy may be issued with a(n): -
Correct Answer-exclusion for the medical condition
What is the initial requirement for an insured to become eligible for
benefits under the Waiver of Premium provision? - Correct Answer-
Insured must be under a physician's care
J has a Disability Income policy that does NOT
provide benefits for losses occurring as the result
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, of his employment. What kind of coverage is this? -
Correct Answer-Nonoccupational coverage
K is insured under a Group Life Insurance policy. K
is considered to be a(n) - Correct Answer-certificate
holder
According to Florida law, which of the following
information does NOT need to be obtained by an
agent recommending an annuity purchase? -
Correct Answer-Marital status
Dividends paid from a life insurance policy are -
Correct Answer-taxable
S takes out a health insurance policy which
contains a provision that states the agent does not
have the authority to change the policy or waive
any of its provisions. Which health policy provision
is this? - Correct Answer-Entire Contract
Which policy requires an agent to register with the
National Association of Securities Dealers (NASD)
before selling? - Correct Answer-Variable Life
Defamation occurs when an agent makes a false
statement intended to - Correct Answer-malign
another insurer
J owns a business and has a Group Life policy
covering her employees. J decides to cancel the
policy by letting it lapse on the renewal date. What
action must be taken? - Correct Answer-All of the
iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii Vendarsol
Upgrade Study Exam (165 Questions)
With 100% Correct And Verified Answers
N is covered by a Term Life policy and does not make the required
premium payment which was due August 1. N dies September 15.
What action will the insurer take? - Correct Answer-Claim will be
denied.
A contract where one party either accepts or rejects the terms of a
contract written by another party is called a contract of - Correct
Answer-adhesion
All of the following statements about Major Medical benefits are
true, EXCEPT: - Correct Answer-Benefits have no maximum limit
W gave W's age as 50 when W purchased a Life policy. At the time
of W's death seven years later, the company discovered W's true age
at issue had been 59. What would the normal procedure be under
the misstatement of age provision in regard to the payment of the
death claim? - Correct Answer-The proceeds would be reduced
based on whatever the premium would have been if purchased at
age 59.
All of these are considered sources of underwriting information
about an applicant, EXCEPT: - Correct Answer-Inspection Report
According to the Mandatory Uniform Policy Provisions, what is the
maximum amount of time after the premium due date during which
the policy remains in force even though the premium has not been
paid? - Correct Answer-31 days
iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii Vendarsol
,Which provision allows the policy owner to change a term life policy
to a permanent one without providing proof of good health? -
Correct Answer-Conversion
What do families pay that are covered by the Florida Healthy Kids
Corporation? - Correct Answer-A portion of the premium
Which statement regarding third-party ownership of a life
insurance policy is true? - Correct Answer-It is used extensively in
estate planning as well as business circumstances.
Which of the following employees may NOT be excluded from a
group life plan? - Correct Answer-Full-time employees after the
probationary period.
Which of the following statements BEST describes what the Legal
Actions provision of an Accident and Health policy requires? -
Correct Answer-An insured must wait at least 60 days after Proof of
Loss has been submitted before a lawsuit can be filed.
What percentage of eligible persons must a policy cover in a
noncontributory group? - Correct Answer-100%
What are adjustable rates for life policy loans in Florida based on? -
Correct Answer-Moody's corporate bond index.
An underwriter determines that a life insurance applicant's risk should be
reclassified due to a health issue. This policy may be issued with a(n): -
Correct Answer-exclusion for the medical condition
What is the initial requirement for an insured to become eligible for
benefits under the Waiver of Premium provision? - Correct Answer-
Insured must be under a physician's care
J has a Disability Income policy that does NOT
provide benefits for losses occurring as the result
iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii Vendarsol
, of his employment. What kind of coverage is this? -
Correct Answer-Nonoccupational coverage
K is insured under a Group Life Insurance policy. K
is considered to be a(n) - Correct Answer-certificate
holder
According to Florida law, which of the following
information does NOT need to be obtained by an
agent recommending an annuity purchase? -
Correct Answer-Marital status
Dividends paid from a life insurance policy are -
Correct Answer-taxable
S takes out a health insurance policy which
contains a provision that states the agent does not
have the authority to change the policy or waive
any of its provisions. Which health policy provision
is this? - Correct Answer-Entire Contract
Which policy requires an agent to register with the
National Association of Securities Dealers (NASD)
before selling? - Correct Answer-Variable Life
Defamation occurs when an agent makes a false
statement intended to - Correct Answer-malign
another insurer
J owns a business and has a Group Life policy
covering her employees. J decides to cancel the
policy by letting it lapse on the renewal date. What
action must be taken? - Correct Answer-All of the
iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii Vendarsol
