Exam Simulator- Florida Life and Health State
Exam Simulator 150 Questions
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 The
insurance company must replace the existing policy with one to J's liking
An example of unfair claims practice would be - correct answer Failing to effectuate prompt, fair,
and equitable settlements of a claim
Which of these is NOT a legal entity for selling life insurance in Florida? - correct answer Risk
management advisers
T applies for a life insurance policy and is told by the producer that the insurer is bound to the
coverage as of the date of the application or medical examination, whichever is later, provided
that T is an acceptable risk. What item is given to T? - correct answer Conditional Receipt
What kind of life insurance product covers children under their parent's policy? - correct answer
A Term rider
Which action could result in a hearing being ordered by the Department of Financial Services? -
correct answer Performing insurance transactions without a license
S is close to retiring and would like to purchase a policy that will yield greater gains than bonds,
but will still protect the principal with a minimum level or risk. Which product would S be
advised to purchase? - correct answer Equity index insurance
Which of the following actions is NOT possible with a Universal Life policy? - correct answer
Premiums may be applied as a credit against income tax
Which Unfair Trade Practice involves an agent suggesting that an insurance policy is like a share
of stock? - correct answer Misrepresentation
, Exam Simulator- Florida Life and Health State
Exam Simulator 150 Questions
In order to establish a Health Reimbursement Arrangement (HRA), it MUST - correct answer Be
established by the employer
In Florida, a health policy that is paid on a quarterly basis requires a grace period of - correct
answer 31 days
All of these are a prerequisite for becoming a licensed agent EXCEPT - correct answer Graduate
from high school
A policy of adhesion can only be modified by whom? - correct answer The insurance company
The fundamental reason for regulation of insurance is to - correct answer Protect consumers
Which of the following types of policies pays a benefit if the insured goes blind? - correct
answer AD&D
P is a Major Medical policyowner who is hospitalized as a result of injuries sustained from
participating in a carjacking. How will the insurer most likely handle this claim? - correct answer
Claims will be denied
Which Unfair Trade Practice involves an agent telling a prospective client that a policy's
dividends are guaranteed? - correct answer Misrepresentation
An agent takes an individual Disability Income application, collects the appropriate premium,
and issues the prospective insured a conditional receipt. The next step the insurance company
will take is to - correct answer Determine if the applicant is an acceptable risk by completing
standard underwriting procedures
Exam Simulator 150 Questions
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 The
insurance company must replace the existing policy with one to J's liking
An example of unfair claims practice would be - correct answer Failing to effectuate prompt, fair,
and equitable settlements of a claim
Which of these is NOT a legal entity for selling life insurance in Florida? - correct answer Risk
management advisers
T applies for a life insurance policy and is told by the producer that the insurer is bound to the
coverage as of the date of the application or medical examination, whichever is later, provided
that T is an acceptable risk. What item is given to T? - correct answer Conditional Receipt
What kind of life insurance product covers children under their parent's policy? - correct answer
A Term rider
Which action could result in a hearing being ordered by the Department of Financial Services? -
correct answer Performing insurance transactions without a license
S is close to retiring and would like to purchase a policy that will yield greater gains than bonds,
but will still protect the principal with a minimum level or risk. Which product would S be
advised to purchase? - correct answer Equity index insurance
Which of the following actions is NOT possible with a Universal Life policy? - correct answer
Premiums may be applied as a credit against income tax
Which Unfair Trade Practice involves an agent suggesting that an insurance policy is like a share
of stock? - correct answer Misrepresentation
, Exam Simulator- Florida Life and Health State
Exam Simulator 150 Questions
In order to establish a Health Reimbursement Arrangement (HRA), it MUST - correct answer Be
established by the employer
In Florida, a health policy that is paid on a quarterly basis requires a grace period of - correct
answer 31 days
All of these are a prerequisite for becoming a licensed agent EXCEPT - correct answer Graduate
from high school
A policy of adhesion can only be modified by whom? - correct answer The insurance company
The fundamental reason for regulation of insurance is to - correct answer Protect consumers
Which of the following types of policies pays a benefit if the insured goes blind? - correct
answer AD&D
P is a Major Medical policyowner who is hospitalized as a result of injuries sustained from
participating in a carjacking. How will the insurer most likely handle this claim? - correct answer
Claims will be denied
Which Unfair Trade Practice involves an agent telling a prospective client that a policy's
dividends are guaranteed? - correct answer Misrepresentation
An agent takes an individual Disability Income application, collects the appropriate premium,
and issues the prospective insured a conditional receipt. The next step the insurance company
will take is to - correct answer Determine if the applicant is an acceptable risk by completing
standard underwriting procedures
