Exam Simulator- Florida Life and Health
State Exam Simulator.
Which of the following statements about guaranteed renewable health insurance policy is correct? -
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(correct answer) - Premiums normally increase at the time of renewal.
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The issuer must provide a perspective buyer with an? - (correct answer) -
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Buyers guide and policy summary
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T would like to be assured $10,000 is available in 10 years to replace a roof on his house. What kind of $1
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0,000 policy should T purchase? - (correct answer) - Ten-year Endowment
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According to the time payment of claims provision, the insurer must pay disability income benefits no les
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s frequently then which of the following options? - (correct answer) - Monthly
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Which of the following is the most important factor when deciding how much disability income coverage
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an applicant should purchase? - (correct answer) - Applicants monthly income
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Which two entitles regulate variable annuities? - (correct answer) -
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Department of Financial Services; Securities Exchange Commission.
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The amount of coverage on a group life policy is limited to? - (correct answer) -
fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg
The insured's total loan value
fgfg fg fg fg fg
The provision that can be used to put on insurance policy back in force after it has lapsed due to nonpay
fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg
ment is called? - (correct answer) - Reinstatement
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Which product would best serve a retired individual looking to invest a lump-
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sum of money through an insurance company? - (correct answer) - Annuity
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According to Florida law, a group life insurance policy requires a minimum how many insureds? -
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(correct answer) - No minimum
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Multiple employer welfare arrangement (MEWA) provides what type of benefits? - (correct answer) -
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Insurance
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In a qualified retirement plan, the yearly contributions to an employee's account? - (correct answer) -
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Are restricted to maximum level set by the IRS
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,All of the following entries are classified under the four principal areas of Florida insurance law except? -
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(correct answer) - An agent's commission
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According to Florida's life insurance replacement law, about policyowner must be provided with the writt
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en comparison and summary statement when it's required by? - (correct answer) - The policyowner
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On delivery of policy, a signed statement of good health is typically request if? - (correct answer) -
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The application was submitted without the initial premium.
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K is the insured and P is the sole beneficiary on an accidental death and dismemberment insurance polic
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y. Both are involved in a fatal accident where K dies before P. Under the common disaster provision, whi
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ch of these statements is true? - (correct answer) - Proceeds will be paid to P's estate
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An insured is past due on his life insurance premium but is still within the grace period. What will the ben
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eficiary receive if the insured dies during the grace period.? - (correct answer) -
fg fg fg fg fg fg fg fg fg fg fg fg fg
Full face amount minus any past due premiums
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A business overhead expens policy would cover which of the following if a business owner becomes disa
fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg
bled? - (correct answer) - Utilities and office rent
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Employers with less then —— fg fg fg fg
employees are affected by Florida health insurance coverage continuation act (Mini COBRA)? -
fg fg fg fg fg fg fg fg fg fg fg fg fg
(correct answer) - 20
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S is employer by large corporation that provides group health coverage for its employees and their depe
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ndents. If S dies, The company must allow his surviving spouse and dependents to continue their group h
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ealth coverage for a maximum of how many months on the cobra regulations? - (correct answer) -
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36 months (under COBRA)
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J is an agent who recently told a claimant that his rights might be impaired if he does not complete a rele
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ase form within a specified time. What could this agent be found guilty of? - (correct answer) - Coercion
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An employer that offers a qualified retirement plan to its employees is eligible to? - (correct answer) -
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Make tax-deductible contribution to the plan
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Which of the following employees may not be excluded from the group life plan? - (correct answer) -
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Full-time employees after the probation period.
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When is the face amount of a whole life policy paid? - (correct answer) -
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When the insured dies or at the policies maturity date whichever happens first.
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Major medical policies typically? - (correct answer) - Contain deductible and coinsurance
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Which of the following provisions is not required in HMO contracts certificates? - (correct answer) -
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Seven-day grace period
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, The health insurance program which is administrated by each state and founded by both the federal and
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state government is called? - (correct answer) - Madicaid
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On insured pays premium on an annual basis for an individual health insurance policy. What is the minim
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um number of days for the grace period Provision? - (correct answer) - 31
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Upon reaching the limiting age, a handicapped child can extend their health insurance coverage as a dep
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endent? - (correct answer) - fg fg fg fg
Only if the child is incapable of employment and chiefly depend on the policy owner
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P is producer who notice five questions on the life application where not answer. What action would P ta
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ke? - (correct answer) - Set up meeting with the applicant to answer the remaining questions
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K becomes ill after traveling overseas and is unable to work for three months, what kind of policy would
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cover her loss of income? - (correct answer) - Disability income
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What are adjustable rates for life policy loan in Florida based on? - (correct answer) -
fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg
Moody's corporate bond index
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When determining the monthly benefit amount for disability income policy, the factor that limits the am
fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg
ount a prospective insured may purchased is - (correct answer) - Income
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Basic hospital and surgical policy benefits are? - (correct answer) - Lower than actual expenses incurred.
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In Florida which the following practitioners normally do not receive payment from health insurance polic
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ies? - (correct answer) - Naturopath
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J purchase a disability income policy that only Jay can terminate and on which the rate will never increas
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e above those illustrated in the policy. Which of the following types of policies did J purchase? -
fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg
(correct answer) - Noncancelable
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The provision in a group health policy that allows the insurer to postpone coverage for a covered illness 3
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0 days after the policy's effective date is a reference to as the? - (correct answer) - Waiting period
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Nonprofit life insurance providers that are covered by special section in Florida insurance code are called
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? - (correct answer) - Fraternal Life insurance organizations
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Which of the following is true if the owner of IRA names their spouse as beneficiary, but then dies before
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any distributions are made? - (correct answer) - The account can be rolled into a surviving spouse's IRA
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According to Florida law group life insurance conversion privilege must not? - (correct answer) -
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Require evidence of insurability
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L takes out a life insurance policy and dies 10 years later. During the claim process, the insurer discovers t
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hat L had understated her age on the application. Under the Misstatement of age provision, the insurer
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will? - (correct answer) - Adjust the death benefit to reduced amount.
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State Exam Simulator.
Which of the following statements about guaranteed renewable health insurance policy is correct? -
fg fg fg fg fg fg fg fg fg fg fg fg fg
(correct answer) - Premiums normally increase at the time of renewal.
fg fg fg fgfg fg fg fg fg fg fg fg
The issuer must provide a perspective buyer with an? - (correct answer) -
fg fg fg fg fg fg fg fg fg fg fg fg
Buyers guide and policy summary
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T would like to be assured $10,000 is available in 10 years to replace a roof on his house. What kind of $1
fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg
0,000 policy should T purchase? - (correct answer) - Ten-year Endowment
fg fg fg fg fg fg fg fg fgfg fg
According to the time payment of claims provision, the insurer must pay disability income benefits no les
fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg
s frequently then which of the following options? - (correct answer) - Monthly
fg fg fg fg fg fg fg fg fg fg fg fgfg
Which of the following is the most important factor when deciding how much disability income coverage
fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg f
an applicant should purchase? - (correct answer) - Applicants monthly income
g fg fg fg fg fg fg fg fgfg fg fg
Which two entitles regulate variable annuities? - (correct answer) -
fg fg fg fg fg fg fg fg fg
Department of Financial Services; Securities Exchange Commission.
fgfg fg fg fg fg fg fg
The amount of coverage on a group life policy is limited to? - (correct answer) -
fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg
The insured's total loan value
fgfg fg fg fg fg
The provision that can be used to put on insurance policy back in force after it has lapsed due to nonpay
fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg
ment is called? - (correct answer) - Reinstatement
fg fg fg fg fg fg fgfg
Which product would best serve a retired individual looking to invest a lump-
fg fg fg fg fg fg fg fg fg fg fg fg
sum of money through an insurance company? - (correct answer) - Annuity
fg fg fg fg fg fg fg fg fg fg fgfg
According to Florida law, a group life insurance policy requires a minimum how many insureds? -
fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg
(correct answer) - No minimum
fg fg fg fgfg fg
Multiple employer welfare arrangement (MEWA) provides what type of benefits? - (correct answer) -
fg fg fg fg fg fg fg fg fg fg fg fg fg
Insurance
fgfg
In a qualified retirement plan, the yearly contributions to an employee's account? - (correct answer) -
fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg
Are restricted to maximum level set by the IRS
fgfg fg fg fg fg fg fg fg fg
,All of the following entries are classified under the four principal areas of Florida insurance law except? -
fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg
(correct answer) - An agent's commission
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According to Florida's life insurance replacement law, about policyowner must be provided with the writt
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en comparison and summary statement when it's required by? - (correct answer) - The policyowner
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On delivery of policy, a signed statement of good health is typically request if? - (correct answer) -
fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg
The application was submitted without the initial premium.
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K is the insured and P is the sole beneficiary on an accidental death and dismemberment insurance polic
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y. Both are involved in a fatal accident where K dies before P. Under the common disaster provision, whi
fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg
ch of these statements is true? - (correct answer) - Proceeds will be paid to P's estate
fg fg fg fg fg fg fg fg fg fgfg fg fg fg fg fg fg
An insured is past due on his life insurance premium but is still within the grace period. What will the ben
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eficiary receive if the insured dies during the grace period.? - (correct answer) -
fg fg fg fg fg fg fg fg fg fg fg fg fg
Full face amount minus any past due premiums
fgfg fg fg fg fg fg fg fg
A business overhead expens policy would cover which of the following if a business owner becomes disa
fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg
bled? - (correct answer) - Utilities and office rent
fg fg fg fg fgfg fg fg fg
Employers with less then —— fg fg fg fg
employees are affected by Florida health insurance coverage continuation act (Mini COBRA)? -
fg fg fg fg fg fg fg fg fg fg fg fg fg
(correct answer) - 20
fg fg fg fgfg
S is employer by large corporation that provides group health coverage for its employees and their depe
fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg
ndents. If S dies, The company must allow his surviving spouse and dependents to continue their group h
fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg
ealth coverage for a maximum of how many months on the cobra regulations? - (correct answer) -
fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg
36 months (under COBRA)
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J is an agent who recently told a claimant that his rights might be impaired if he does not complete a rele
fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg
ase form within a specified time. What could this agent be found guilty of? - (correct answer) - Coercion
fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fgfg
An employer that offers a qualified retirement plan to its employees is eligible to? - (correct answer) -
fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg
Make tax-deductible contribution to the plan
fgfg fg fg fg fg fg
Which of the following employees may not be excluded from the group life plan? - (correct answer) -
fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg
Full-time employees after the probation period.
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When is the face amount of a whole life policy paid? - (correct answer) -
fg fg fg fg fg fg fg fg fg fg fg fg fg fg
When the insured dies or at the policies maturity date whichever happens first.
fgfg fg fg fg fg fg fg fg fg fg fg fg fg
Major medical policies typically? - (correct answer) - Contain deductible and coinsurance
fg fg fg fg fg fg fg fgfg fg fg fg
Which of the following provisions is not required in HMO contracts certificates? - (correct answer) -
fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg
Seven-day grace period
fgfg fg fg
, The health insurance program which is administrated by each state and founded by both the federal and
fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg
state government is called? - (correct answer) - Madicaid
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On insured pays premium on an annual basis for an individual health insurance policy. What is the minim
fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg
um number of days for the grace period Provision? - (correct answer) - 31
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Upon reaching the limiting age, a handicapped child can extend their health insurance coverage as a dep
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endent? - (correct answer) - fg fg fg fg
Only if the child is incapable of employment and chiefly depend on the policy owner
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P is producer who notice five questions on the life application where not answer. What action would P ta
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ke? - (correct answer) - Set up meeting with the applicant to answer the remaining questions
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K becomes ill after traveling overseas and is unable to work for three months, what kind of policy would
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cover her loss of income? - (correct answer) - Disability income
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What are adjustable rates for life policy loan in Florida based on? - (correct answer) -
fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg
Moody's corporate bond index
fgfg fg fg fg
When determining the monthly benefit amount for disability income policy, the factor that limits the am
fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg
ount a prospective insured may purchased is - (correct answer) - Income
fg fg fg fg fg fg fg fg fg fg fgfg
Basic hospital and surgical policy benefits are? - (correct answer) - Lower than actual expenses incurred.
fg fg fg fg fg fg fg fg fg fg fgfg fg fg fg fg
In Florida which the following practitioners normally do not receive payment from health insurance polic
fg fg fg fg fg fg fg fg fg fg fg fg fg fg
ies? - (correct answer) - Naturopath
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J purchase a disability income policy that only Jay can terminate and on which the rate will never increas
fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg
e above those illustrated in the policy. Which of the following types of policies did J purchase? -
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(correct answer) - Noncancelable
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The provision in a group health policy that allows the insurer to postpone coverage for a covered illness 3
fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg
0 days after the policy's effective date is a reference to as the? - (correct answer) - Waiting period
fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fgfg fg
Nonprofit life insurance providers that are covered by special section in Florida insurance code are called
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? - (correct answer) - Fraternal Life insurance organizations
fg fg fg fg fgfg fg fg fg
Which of the following is true if the owner of IRA names their spouse as beneficiary, but then dies before
fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg f
any distributions are made? - (correct answer) - The account can be rolled into a surviving spouse's IRA
g fg fg fg fg fg fg fg fgfg fg fg fg fg fg fg fg fg fg
According to Florida law group life insurance conversion privilege must not? - (correct answer) -
fg fg fg fg fg fg fg fg fg fg fg fg fg fg
Require evidence of insurability
fgfg fg fg fg
L takes out a life insurance policy and dies 10 years later. During the claim process, the insurer discovers t
fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg
hat L had understated her age on the application. Under the Misstatement of age provision, the insurer
fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg fg
will? - (correct answer) - Adjust the death benefit to reduced amount.
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