Florida 2-15 Insurance License Exam
Accumulation units are converted into annuity units: correct answersat
the time of annuity payout.
A group life insurance plan in which the employer pays the entire premium
is known as a plan. correct answersnoncontributory
If a disabled worker covered under Social Security disability benefits
recovers and then is disabled again within five years, a new waiting period
is required before benefits begin again. correct answersFALSE
Robert had an accident and qualified for Social Security disability. Given
the waiting period, when will Robert begin to receive benefits? correct
answersAfter 5 months
The Insuring Clause includes all of the following EXCEPT the
correct answersbeneficiary
Mutualization occurs when a stock company turns to a company.
correct answersmutual
To provide a safeguard for insureds, most major medical policies contain a
feature that limits the insured's out-of-pocket
expenses. correct answersstop-loss
Tom is a newly appointed life, health and variable annuity agent with Acme
Insurance Agency. He is writing his first insurance policy on his brother-in-
law's life. Who does Tom legally represent in this transaction? correct
answersAcme Insurance Agency
An insurance clause is a distinct article in a formal document that
establishes the rules in the contract that must adhere to. correct
answersboth the insurer and the insured
"ACC" refers to the type of disability that prevents someone from
performing the job he was performing prior to the disability. correct
answersFALSE
Which statement is CORRECT about the Department of Financial Services'
right to examine an agent's records? correct answersAn examination can be
conducted at any time to discover any unfair trade practices.
Bill gives Jim a couple of tickets to a Florida Gators game to thank him for
purchasing a policy. This is an example of: correct answersrebating
, term insurance provides a level amount of protection for a
specified period, after which the policy expires. correct answersLevel
Business overhead expense (B.O.E.) insurance does not provide benefits to
cover the business owner's salary. correct answersTRUE
Level, decreasing, and increasing insurance are all basic forms of
insurance. correct answersterm
Hospice services are covered under Medicare Part A. correct
answersTRUE
Under Florida law, group health insurers must offer mental and
nervous disorder insurance to policyowners. correct answersTRUE
Deductibles under a group major medical plan usually run from $250 to
$500; whereas individual health plans usually run from: correct
answers$1,000 plus.
Every HMO subscriber must receive a benefits package that includes a
copy of the HMO contract and certificate, and: correct answersa
member's handbook.
A life insurance policy will not be reinstated if it has been: correct
answerssurrendered for its cash value.
Which of the following is NOT a type of permanent life insurance? correct
answersTerm Life
In Florida, a must sign for and on behalf of a minor
purchasing life insurance. correct answersparent or legal guardian
When an agent spreads a false story that damages a competing agent's
reputation, the offense is called: correct answersdefamation
is when policy values of an insurance policy are used to
purchase another policy with the same insurer for the sole purpose of
earning additional premiums or commissions. correct answersChurning
Once an organization has filed an application to conduct insurance business,
the Office of Insurance Regulation will begin its review for issuing a(n):
correct answersCertificate of Authority
Florida law requires health insurance policies and HMO contracts to provide
coverage for all medically necessary equipment, supplies and services
used to treat diabetes when the patient's physician certifies that they are
medically necessary. correct answersTRUE
Accumulation units are converted into annuity units: correct answersat
the time of annuity payout.
A group life insurance plan in which the employer pays the entire premium
is known as a plan. correct answersnoncontributory
If a disabled worker covered under Social Security disability benefits
recovers and then is disabled again within five years, a new waiting period
is required before benefits begin again. correct answersFALSE
Robert had an accident and qualified for Social Security disability. Given
the waiting period, when will Robert begin to receive benefits? correct
answersAfter 5 months
The Insuring Clause includes all of the following EXCEPT the
correct answersbeneficiary
Mutualization occurs when a stock company turns to a company.
correct answersmutual
To provide a safeguard for insureds, most major medical policies contain a
feature that limits the insured's out-of-pocket
expenses. correct answersstop-loss
Tom is a newly appointed life, health and variable annuity agent with Acme
Insurance Agency. He is writing his first insurance policy on his brother-in-
law's life. Who does Tom legally represent in this transaction? correct
answersAcme Insurance Agency
An insurance clause is a distinct article in a formal document that
establishes the rules in the contract that must adhere to. correct
answersboth the insurer and the insured
"ACC" refers to the type of disability that prevents someone from
performing the job he was performing prior to the disability. correct
answersFALSE
Which statement is CORRECT about the Department of Financial Services'
right to examine an agent's records? correct answersAn examination can be
conducted at any time to discover any unfair trade practices.
Bill gives Jim a couple of tickets to a Florida Gators game to thank him for
purchasing a policy. This is an example of: correct answersrebating
, term insurance provides a level amount of protection for a
specified period, after which the policy expires. correct answersLevel
Business overhead expense (B.O.E.) insurance does not provide benefits to
cover the business owner's salary. correct answersTRUE
Level, decreasing, and increasing insurance are all basic forms of
insurance. correct answersterm
Hospice services are covered under Medicare Part A. correct
answersTRUE
Under Florida law, group health insurers must offer mental and
nervous disorder insurance to policyowners. correct answersTRUE
Deductibles under a group major medical plan usually run from $250 to
$500; whereas individual health plans usually run from: correct
answers$1,000 plus.
Every HMO subscriber must receive a benefits package that includes a
copy of the HMO contract and certificate, and: correct answersa
member's handbook.
A life insurance policy will not be reinstated if it has been: correct
answerssurrendered for its cash value.
Which of the following is NOT a type of permanent life insurance? correct
answersTerm Life
In Florida, a must sign for and on behalf of a minor
purchasing life insurance. correct answersparent or legal guardian
When an agent spreads a false story that damages a competing agent's
reputation, the offense is called: correct answersdefamation
is when policy values of an insurance policy are used to
purchase another policy with the same insurer for the sole purpose of
earning additional premiums or commissions. correct answersChurning
Once an organization has filed an application to conduct insurance business,
the Office of Insurance Regulation will begin its review for issuing a(n):
correct answersCertificate of Authority
Florida law requires health insurance policies and HMO contracts to provide
coverage for all medically necessary equipment, supplies and services
used to treat diabetes when the patient's physician certifies that they are
medically necessary. correct answersTRUE
