Exam Simulator- Florida Life and Health
State Exam Simulator
A business overhead expens policy would cover which of the following if a business
owner becomes disabled? -- correct ans--Utilities and office rent
A disability income policy owner suffers a disability which was due to the same cause as
the previous disability. Both disabilities occured with the five months. The insurer may
cover the second disability without the new elimination period Under the? -- correct ans-
-Recurrent disability provision
Arygroupryplanrywasryrecentlyryterminated.ryInryFlorida,ryhowrymanyrydaysryarerycoveredryindividu
alsryguaranteedrycoverageryafterryarygroupryplan'srytermination?ry--rycorrectryans--31rydays
Arylevelrypremiumryindicatesry--rycorrectryans--
therypremiumryisryfixedryforrytheryentirerydurationryofrytherycontract
AryliferypolicyryloanryinryFloridarycannotrychargeryaryfixedryrateryofryinterestryhigherrythenry--
rycorrectryans--10%
Arymajorrymedicalrypolicyrytypicallyry--rycorrectryans--
providesrybenefitsryforryreasonableryandrynecessaryrymedicalryexpenses,rysubjectrytorypolicyryli
mits.
Arypersonrywhoryisryinsuredrywithinryarygrouprycontractrywillryberygivenryary?ry--rycorrectryans--
Cartificate
Aryphysicianryopenryupryarynewrypracticeryandryqualifiesryforry$7000rymonthrydisabilityryincomeryp
olicy.ryWhatryriderrywouldrytheryphysicianryaddryifryherywantsrytheryabilityrytoryincreaseryhisrypolicyry
benefitsryasryhisrypracticeryandryincomerygrow?ry--rycorrectryans--
Guaranteeryinsurabilityryoptionryrider
Arypolicyryownerryisryablerytorychooserytheryfrequencyryofrypremiumrypaymentrythroughrywhatrypoli
cyryfeature?ry--rycorrectryans--Premiumrymode
ArypolicyryownerrywouldrylikerytorychangerytherybeneficiaryryonryanryaccidentalrydeathryandryDisme
mbermentry(AD&D)ryinsurancerypolicyryandrymakerytherychangerypermanently.rywhichrytyperyofry
designationrywouldryfulfillrythisryneed?ry--rycorrectryans--Irrevocable
,Arypotentialryclientryagery40rywouldrylikerytorypurchaseryarywholeryliferypolicyrythatrywillryaccumulat
erycashryvalueryatryfasterryrateryinrytheryearlyryyearsryofrytherypolicy.ryWhichryofrytheseryStatemantsry
maderybyrytheryproducerrywouldryberycorrect?ry--rycorrectryans--20-
PayryLiferyaccumulatesrycashryvalueryfasterrythanryStraightryLife
Aryprepaidryapplicationryforryindividualrydisabilityryincomeryinsurancerywasryrecentlyrysubmittedry
toryinsurer.ryWhenrytheryinsurerryreceivedrytherymedicalryinformationrybureauryreport,ryTheryrepo
rtryshowedrythatrytheryapplicantryhasrysufferedryarystrokery18rymonthsryago,rysomethingrythatrywas
rynotrydisclosedryonrytheryapplication.ryWhichryofrytheryfollowingryactionsrywouldrytheryinsuranceryc
ompanyrynotrytake?ry--rycorrectryans--
SendryarynoticerytorytheryMIBrythatrytheryapplicantrywasrydeclined
Aryreturnryofrypremiumryliferyinsurancerypolicyryis?ry--rycorrectryans--
Wholeryliferyandryincreasingryterm
Arytermryliferyinsurancerypolicyrymatures?ry--rycorrectryans--
Uprytheryinsured'srydeathryduringrytherytermryofrytherypolicy
AryVariableryinsurancerypolicy?ry--rycorrectryans--
Itrydoesrynotryguaranteeryaryreturnryonryinvestmentryaccounts
AryVariableryliferyinsuranceryagentrymustryberylicensedryandryappointedryasryaryliferyandryVariablery
contractryagent,ryasrywellryasryanry--rycorrectryans--Brokerrydealer
Arywarrantyry--rycorrectryans--Isryarystatementryguaranteedrytoryberytrue
Arywholeryliferyinsurancerypolicyownerrydoesrynotrywishrytorycontinuerymakingrypremiumrypayme
nts.rywhichryofrytheryfollowingryenablesrytherypolicyryownerrytorysellrytherypolicyryforrymorerythanryit's
rycashryvalue?ry--rycorrectryans--Liferysettlementrycontract
Accidentalrydeathrycoverageryisryprovidedrytorycommercialryairlinerypassengersryinrywhichryofryth
eryfollowingrytypesryofrypolicies?ry--rycorrectryans--Blanketryaccidentrypolicy.
AccordingrytoryFloridarylawrygroupryliferyinsuranceryconversionryprivilegerymustrynot?ry--
rycorrectryans--Requireryevidenceryofryinsurability
AccordingrytoryFloridarylaw,ryarygroupryliferyinsurancerypolicyryrequiresryaryminimumryhowrymanyryi
nsureds?ry--rycorrectryans--Noryminimum
AccordingrytoryFloridarylaw,ryinrywhichryofrytheryfollowingrysituationsrywouldryarydependentryhandi
cappedrychildryNOTryberycoveredryunderryfamilyryhealthrypolicy?ry--rycorrectryans--
Therypremiumsryforrytheryhandicappedrychildryarerynotrypaid
AccordingrytoryFloridarylaw,rywhenrymustryanryagentrydeliverrytheryoutlineryofrycoveragerytoryaryMe
dicarerysupplementryapplicant?ry--rycorrectryans--Atrytherytimeryofryapplication
, AccordingrytoryFloridarylaw,rywhichryofrytheryfollowingrystatementsryaccuratelyrydescribesryanryad
mittedrymailryorderryinsurancerycompany?ry--rycorrectryans--
Itrymayrysolicitryinsurancerybusinessrybyrymailrywithoutrytheryassistanceryofryarylicenseryagent
AccordingrytoryFloridaryrulesryonrydisclosure,ryaryliferyinsuranceryapplicantryisryexceptedrytoryberyp
rovidedrywith?ry--rycorrectryans--AryBuyersryguideryandryarypolicyrysummary.
AccordingrytoryFlorida'sryliferyinsuranceryreplacementrylaw,ryaboutrypolicyownerrymustryberyprovi
dedrywithrytherywrittenrycomparisonryandrysummaryrystatementrywhenryit'sryrequiredryby?ry--
rycorrectryans--Therypolicyowner
Accordingrytorytherytimerypaymentryofryclaimsryprovision,rytheryinsurerrymustrypayrydisabilityryinco
merybenefitsrynorylessryfrequentlyrythenrywhichryofrytheryfollowingryoptions?ry--rycorrectryans--
Monthly
AgentryJrytakesryanryapplicationryandryinitialrypremiumryfromryanryapplicantryandrysendsrytheryappl
icationryinrypremiumrycheckrytorytheryinsurancerycompany.ryTheryinsurancerycompanyryreturnsryt
herycheckrybackrytoryJrybecauserytherycheckryisrymaderyoutrytoryJryinsteadryofrytheryinsurancerycom
pany.ryWhatryactionryshouldryJrytake?ry--rycorrectryans--
Returnrytorytherycustomer,rycollectryarynewrycheckrymaderyoutrytorytheryinsurancerycompany,ryandr
ysendrytherynewrycheckryoutrytorytheryinsurancerycompany
AllryofrytheryfollowingryarerynonforfeitureryoptionsryExceptry--rycorrectryans--
Automaticrypremiumryloanryoption.(ryisrynotryconsideredryNonforfeitureryoption)
AllryofrytheryfollowingryentriesryareryclassifiedryunderrytheryfourryprincipalryareasryofryFloridaryinsur
ancerylawryexcept?ry--rycorrectryans--Anryagent'srycommission
Allryofrytheserystatementsryconcerningrysettlementryoptionsryarerytrueryexcept?ry--rycorrectryans--
Onlyrytherybeneficiaryrymyryselect
Anryemployerrythatryoffersryaryqualifiedryretirementryplanrytoryitsryemployeesryisryeligibleryto?ry--
rycorrectryans--Makerytax-deductiblerycontributionrytorytheryplan
Anryexampleryofryrebatingrywouldrybe?ry--rycorrectryans--
Offeringryaryclientrysomethingryofryvaluerynotrystatedryinrytherycontractryinryexchangeryforrytheirrybu
sinesses
Anryexampleryofryunfairrytraderypracticeryis?ry--rycorrectryans--
Anryagentrymakingrymaterialryarymisrepresentationrytorytheryinsured
Anryimportantryunderwritingryprincipleryofryarygroupryliferyisrythatryallryorryarylargerypercentageryofryp
ersonryinrytherygrouprymustryberycoveredrybyrytheryinsurance.ry--rycorrectryans--
"Toryanryindividualrypolicyryforryarystarterryperiodryofrytime".ryInryFlorida,ryGroupryLiferypolicyrymustry
containryaryconversionryprivilegerythatryallowsryforryconversionrytoryanryindividualrypolicyryforryarys
pecifiedryperiodryofrytime.
State Exam Simulator
A business overhead expens policy would cover which of the following if a business
owner becomes disabled? -- correct ans--Utilities and office rent
A disability income policy owner suffers a disability which was due to the same cause as
the previous disability. Both disabilities occured with the five months. The insurer may
cover the second disability without the new elimination period Under the? -- correct ans-
-Recurrent disability provision
Arygroupryplanrywasryrecentlyryterminated.ryInryFlorida,ryhowrymanyrydaysryarerycoveredryindividu
alsryguaranteedrycoverageryafterryarygroupryplan'srytermination?ry--rycorrectryans--31rydays
Arylevelrypremiumryindicatesry--rycorrectryans--
therypremiumryisryfixedryforrytheryentirerydurationryofrytherycontract
AryliferypolicyryloanryinryFloridarycannotrychargeryaryfixedryrateryofryinterestryhigherrythenry--
rycorrectryans--10%
Arymajorrymedicalrypolicyrytypicallyry--rycorrectryans--
providesrybenefitsryforryreasonableryandrynecessaryrymedicalryexpenses,rysubjectrytorypolicyryli
mits.
Arypersonrywhoryisryinsuredrywithinryarygrouprycontractrywillryberygivenryary?ry--rycorrectryans--
Cartificate
Aryphysicianryopenryupryarynewrypracticeryandryqualifiesryforry$7000rymonthrydisabilityryincomeryp
olicy.ryWhatryriderrywouldrytheryphysicianryaddryifryherywantsrytheryabilityrytoryincreaseryhisrypolicyry
benefitsryasryhisrypracticeryandryincomerygrow?ry--rycorrectryans--
Guaranteeryinsurabilityryoptionryrider
Arypolicyryownerryisryablerytorychooserytheryfrequencyryofrypremiumrypaymentrythroughrywhatrypoli
cyryfeature?ry--rycorrectryans--Premiumrymode
ArypolicyryownerrywouldrylikerytorychangerytherybeneficiaryryonryanryaccidentalrydeathryandryDisme
mbermentry(AD&D)ryinsurancerypolicyryandrymakerytherychangerypermanently.rywhichrytyperyofry
designationrywouldryfulfillrythisryneed?ry--rycorrectryans--Irrevocable
,Arypotentialryclientryagery40rywouldrylikerytorypurchaseryarywholeryliferypolicyrythatrywillryaccumulat
erycashryvalueryatryfasterryrateryinrytheryearlyryyearsryofrytherypolicy.ryWhichryofrytheseryStatemantsry
maderybyrytheryproducerrywouldryberycorrect?ry--rycorrectryans--20-
PayryLiferyaccumulatesrycashryvalueryfasterrythanryStraightryLife
Aryprepaidryapplicationryforryindividualrydisabilityryincomeryinsurancerywasryrecentlyrysubmittedry
toryinsurer.ryWhenrytheryinsurerryreceivedrytherymedicalryinformationrybureauryreport,ryTheryrepo
rtryshowedrythatrytheryapplicantryhasrysufferedryarystrokery18rymonthsryago,rysomethingrythatrywas
rynotrydisclosedryonrytheryapplication.ryWhichryofrytheryfollowingryactionsrywouldrytheryinsuranceryc
ompanyrynotrytake?ry--rycorrectryans--
SendryarynoticerytorytheryMIBrythatrytheryapplicantrywasrydeclined
Aryreturnryofrypremiumryliferyinsurancerypolicyryis?ry--rycorrectryans--
Wholeryliferyandryincreasingryterm
Arytermryliferyinsurancerypolicyrymatures?ry--rycorrectryans--
Uprytheryinsured'srydeathryduringrytherytermryofrytherypolicy
AryVariableryinsurancerypolicy?ry--rycorrectryans--
Itrydoesrynotryguaranteeryaryreturnryonryinvestmentryaccounts
AryVariableryliferyinsuranceryagentrymustryberylicensedryandryappointedryasryaryliferyandryVariablery
contractryagent,ryasrywellryasryanry--rycorrectryans--Brokerrydealer
Arywarrantyry--rycorrectryans--Isryarystatementryguaranteedrytoryberytrue
Arywholeryliferyinsurancerypolicyownerrydoesrynotrywishrytorycontinuerymakingrypremiumrypayme
nts.rywhichryofrytheryfollowingryenablesrytherypolicyryownerrytorysellrytherypolicyryforrymorerythanryit's
rycashryvalue?ry--rycorrectryans--Liferysettlementrycontract
Accidentalrydeathrycoverageryisryprovidedrytorycommercialryairlinerypassengersryinrywhichryofryth
eryfollowingrytypesryofrypolicies?ry--rycorrectryans--Blanketryaccidentrypolicy.
AccordingrytoryFloridarylawrygroupryliferyinsuranceryconversionryprivilegerymustrynot?ry--
rycorrectryans--Requireryevidenceryofryinsurability
AccordingrytoryFloridarylaw,ryarygroupryliferyinsurancerypolicyryrequiresryaryminimumryhowrymanyryi
nsureds?ry--rycorrectryans--Noryminimum
AccordingrytoryFloridarylaw,ryinrywhichryofrytheryfollowingrysituationsrywouldryarydependentryhandi
cappedrychildryNOTryberycoveredryunderryfamilyryhealthrypolicy?ry--rycorrectryans--
Therypremiumsryforrytheryhandicappedrychildryarerynotrypaid
AccordingrytoryFloridarylaw,rywhenrymustryanryagentrydeliverrytheryoutlineryofrycoveragerytoryaryMe
dicarerysupplementryapplicant?ry--rycorrectryans--Atrytherytimeryofryapplication
, AccordingrytoryFloridarylaw,rywhichryofrytheryfollowingrystatementsryaccuratelyrydescribesryanryad
mittedrymailryorderryinsurancerycompany?ry--rycorrectryans--
Itrymayrysolicitryinsurancerybusinessrybyrymailrywithoutrytheryassistanceryofryarylicenseryagent
AccordingrytoryFloridaryrulesryonrydisclosure,ryaryliferyinsuranceryapplicantryisryexceptedrytoryberyp
rovidedrywith?ry--rycorrectryans--AryBuyersryguideryandryarypolicyrysummary.
AccordingrytoryFlorida'sryliferyinsuranceryreplacementrylaw,ryaboutrypolicyownerrymustryberyprovi
dedrywithrytherywrittenrycomparisonryandrysummaryrystatementrywhenryit'sryrequiredryby?ry--
rycorrectryans--Therypolicyowner
Accordingrytorytherytimerypaymentryofryclaimsryprovision,rytheryinsurerrymustrypayrydisabilityryinco
merybenefitsrynorylessryfrequentlyrythenrywhichryofrytheryfollowingryoptions?ry--rycorrectryans--
Monthly
AgentryJrytakesryanryapplicationryandryinitialrypremiumryfromryanryapplicantryandrysendsrytheryappl
icationryinrypremiumrycheckrytorytheryinsurancerycompany.ryTheryinsurancerycompanyryreturnsryt
herycheckrybackrytoryJrybecauserytherycheckryisrymaderyoutrytoryJryinsteadryofrytheryinsurancerycom
pany.ryWhatryactionryshouldryJrytake?ry--rycorrectryans--
Returnrytorytherycustomer,rycollectryarynewrycheckrymaderyoutrytorytheryinsurancerycompany,ryandr
ysendrytherynewrycheckryoutrytorytheryinsurancerycompany
AllryofrytheryfollowingryarerynonforfeitureryoptionsryExceptry--rycorrectryans--
Automaticrypremiumryloanryoption.(ryisrynotryconsideredryNonforfeitureryoption)
AllryofrytheryfollowingryentriesryareryclassifiedryunderrytheryfourryprincipalryareasryofryFloridaryinsur
ancerylawryexcept?ry--rycorrectryans--Anryagent'srycommission
Allryofrytheserystatementsryconcerningrysettlementryoptionsryarerytrueryexcept?ry--rycorrectryans--
Onlyrytherybeneficiaryrymyryselect
Anryemployerrythatryoffersryaryqualifiedryretirementryplanrytoryitsryemployeesryisryeligibleryto?ry--
rycorrectryans--Makerytax-deductiblerycontributionrytorytheryplan
Anryexampleryofryrebatingrywouldrybe?ry--rycorrectryans--
Offeringryaryclientrysomethingryofryvaluerynotrystatedryinrytherycontractryinryexchangeryforrytheirrybu
sinesses
Anryexampleryofryunfairrytraderypracticeryis?ry--rycorrectryans--
Anryagentrymakingrymaterialryarymisrepresentationrytorytheryinsured
Anryimportantryunderwritingryprincipleryofryarygroupryliferyisrythatryallryorryarylargerypercentageryofryp
ersonryinrytherygrouprymustryberycoveredrybyrytheryinsurance.ry--rycorrectryans--
"Toryanryindividualrypolicyryforryarystarterryperiodryofrytime".ryInryFlorida,ryGroupryLiferypolicyrymustry
containryaryconversionryprivilegerythatryallowsryforryconversionrytoryanryindividualrypolicyryforryarys
pecifiedryperiodryofrytime.
