Florida Insurance Exam
What is one condition to re-instate a lapsed life insurance policy? correct
answersThe policy has been expired no more than 3 years
What are three common classifications underwriters use for
risk? correct answersStandard, substandard, and preferred
What is intended to be covered by health insurance? correct
answersAccidental injury, illness, and medical costs
If the total of a taxpayer's medical expense exceeds 10% of their adjusted
gross income, what can be deducted? correct answersAccident insurance
premiums, health insurance premiums, and long-term care premiums
What is the minimum grace period for group life insurance in
Florida? correct answers31 days
In what type of health insurance contract are the premiums guaranteed not
to increase and the insurance company may not cancel the policy? correct
answersNon-cancellable
A binding arrangement under which an insured their health plan be made
directly to a person or facility that they dictate (such as a doctor or
hospital) correct answersAssignment of benefits
What is the minimum number of employers that must be insured
contributory employer- sponsored group health insurance plans? correct
answersThere is no minimum
What will an HMO stress? correct answersLow or no co-pay for doctor visits,
screenings for potential health conditions, and wellness as a lifestyle
The Insurance Department may place on probation, suspend, revoke or
refuse to issue or renew an insurance producer license for: correct
answersFailing to pay child support
Florida's Long-term Care Partnership Program is a partnership between
Medicaid and... correct answersPrivate long-term care insurers
What features may a short-term disability plan be designed with?
correct answersBenefits may be paid as a flat indemnity amount,
both accidents and sicknesses will be covered, and benefit may be
paid a percent of income
, Who sells the Small Business Health Plan insurance? correct
answersOnly Florida insurers chosen by the Office of Insurance
Regulation
A medicare supplement insurer cannot deny an application for Medicare
supplement policy if the applicant is both 65 and enrolled in: correct
answersMedicare Part B
What are the elements of insurable risks? correct answersLoss must occur
by chance or accident, large number of homogeneous units, and the loss
must be predictable
When recommending a replacement policy, a producer should remember
that: correct answersHe/she has liabilities because of errors or omissions
What defines proper business practices expected of agents? correct
answersThe Florida Code of Ethics
Irving has a policy that states that his coverage is renewable to age 65 and
beyond that age in the event certain circumstance are present. This type of
renewability is known as: correct answersConditionally renewable
What type of insurer is formed under the laws of Florida? correct
answersDomestic
To fall under the common disaster provision, most policies specify that the
death of the primary beneficiary must occur: correct answersWithin 30-90
days of the accident
What are the required provisions for health policies? correct
answersGrace period, Reinstatement, and Proof of loss
What is the minimum grace period for individual life insurance policies
in Florida? correct answers30 days
Upon the death of an insured, life insurance policy proceeds are designed
for: correct answersThe beneficiary only
In what provision does this statement appear: "Benefits are subject to all the
provisions, conditions and exclusions of the policy?" correct answersInsuring
clause
What are the advantages of a survivorship policy? correct answersIt is less
expensive, it helps to build your estate, and it can help pay estate taxes
James has agreed to purchase insurance. When will the coverage be in
force? correct answersWhen the agent delivers the policy to the insured
In a group life policy, an insured's dependent spouse may be covered
up to hat percentage of the amount of insurance for which the
employee is insured? correct answers100%
What is one condition to re-instate a lapsed life insurance policy? correct
answersThe policy has been expired no more than 3 years
What are three common classifications underwriters use for
risk? correct answersStandard, substandard, and preferred
What is intended to be covered by health insurance? correct
answersAccidental injury, illness, and medical costs
If the total of a taxpayer's medical expense exceeds 10% of their adjusted
gross income, what can be deducted? correct answersAccident insurance
premiums, health insurance premiums, and long-term care premiums
What is the minimum grace period for group life insurance in
Florida? correct answers31 days
In what type of health insurance contract are the premiums guaranteed not
to increase and the insurance company may not cancel the policy? correct
answersNon-cancellable
A binding arrangement under which an insured their health plan be made
directly to a person or facility that they dictate (such as a doctor or
hospital) correct answersAssignment of benefits
What is the minimum number of employers that must be insured
contributory employer- sponsored group health insurance plans? correct
answersThere is no minimum
What will an HMO stress? correct answersLow or no co-pay for doctor visits,
screenings for potential health conditions, and wellness as a lifestyle
The Insurance Department may place on probation, suspend, revoke or
refuse to issue or renew an insurance producer license for: correct
answersFailing to pay child support
Florida's Long-term Care Partnership Program is a partnership between
Medicaid and... correct answersPrivate long-term care insurers
What features may a short-term disability plan be designed with?
correct answersBenefits may be paid as a flat indemnity amount,
both accidents and sicknesses will be covered, and benefit may be
paid a percent of income
, Who sells the Small Business Health Plan insurance? correct
answersOnly Florida insurers chosen by the Office of Insurance
Regulation
A medicare supplement insurer cannot deny an application for Medicare
supplement policy if the applicant is both 65 and enrolled in: correct
answersMedicare Part B
What are the elements of insurable risks? correct answersLoss must occur
by chance or accident, large number of homogeneous units, and the loss
must be predictable
When recommending a replacement policy, a producer should remember
that: correct answersHe/she has liabilities because of errors or omissions
What defines proper business practices expected of agents? correct
answersThe Florida Code of Ethics
Irving has a policy that states that his coverage is renewable to age 65 and
beyond that age in the event certain circumstance are present. This type of
renewability is known as: correct answersConditionally renewable
What type of insurer is formed under the laws of Florida? correct
answersDomestic
To fall under the common disaster provision, most policies specify that the
death of the primary beneficiary must occur: correct answersWithin 30-90
days of the accident
What are the required provisions for health policies? correct
answersGrace period, Reinstatement, and Proof of loss
What is the minimum grace period for individual life insurance policies
in Florida? correct answers30 days
Upon the death of an insured, life insurance policy proceeds are designed
for: correct answersThe beneficiary only
In what provision does this statement appear: "Benefits are subject to all the
provisions, conditions and exclusions of the policy?" correct answersInsuring
clause
What are the advantages of a survivorship policy? correct answersIt is less
expensive, it helps to build your estate, and it can help pay estate taxes
James has agreed to purchase insurance. When will the coverage be in
force? correct answersWhen the agent delivers the policy to the insured
In a group life policy, an insured's dependent spouse may be covered
up to hat percentage of the amount of insurance for which the
employee is insured? correct answers100%
