Florida Life and Health Insurance
newest exam 228 questions with
answers
Insured - correct answer ✔The person covered by the insurance policy.
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Rider - correct answer ✔A written modification attached to a policy that
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increases or decreases coverage and/or premiums.
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What is a unilateral contract? - correct answer ✔A contract in which only
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one of the parties is legally bound to fulfill its obligations.
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What law protects consumers from the circulation of inaccurate or obsolete
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information? - correct answer ✔The Fair Credit Reporting Act.
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What are the three types of agent authority? - correct answer ✔Implied,
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Express, and Apparent.|| ||
Agent - correct answer ✔An individual who is licensed to sell, negotiate, or
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effect insurance contracts on behalf of the insurer.
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What is name of the process that insurance companies use to determine
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whether or not an applicant is insurable? - correct answer ✔Underwriting
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,The requirement that agents must account for and promptly remit all
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insurance funds collected is known as what type of agent responsibility? -
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correct answer ✔Fiduciary || ||
What is a third-party ownership? - correct answer ✔An insurance
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arrangement in which the policy owner and the insured are not the same
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person.
Suitability - correct answer ✔Factors that determine if an insurance product
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is appropriate for a particular customer.
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Premium - correct answer ✔A payment by the policy owner to the
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insurance company to keep the policy in force.
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Disclosure - correct answer ✔Providing sufficient information to help
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someone make informed decision. || || ||
An agent offer a client free tickets to a sporting event in exchange for the
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purchase of an insurance policy. What is the agent guilty of? - correct
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answer ✔Rebating ||
If an insurer meets the states financial requirements and is approved to
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transact business in the state, it is considered what type of insurer? -
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correct answer ✔Authorized || ||
What information are the members of the medical information bureau
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required to report? - correct answer ✔Adverse medical information about
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the applicants or insureds.
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, What type of beneficiary can be changed at any point by the policy owner?
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- correct answer ✔Revocable
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What document describes the specific information about a policy? - correct
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answer ✔Policy Summary || ||
What is the term for the causes of loss insured against in an insurance
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policy? - correct answer ✔Peril
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Whom does an insurance agent represent? - correct answer ✔Insurance
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Company
What is an unfair trade practice? - correct answer ✔Any fraudulent,
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deceptive, or dishonest business practice that is prohibited by statutes and
|| || || || || || || || || || ||
regulations.
Insurer - correct answer ✔The company that issues an insurance policy.
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Peril - correct answer ✔Cause of loss
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Contract of Adhesion - correct answer ✔A contract prepared by one party
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that must be accepted as written or be rejected by the other party.
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What are the four elements of an insurance contract? - correct answer
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✔Agreement (Offer and Acceptance), consideration, competent parties, and
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legal purpose.
||
newest exam 228 questions with
answers
Insured - correct answer ✔The person covered by the insurance policy.
|| || || || || || || || || ||
Rider - correct answer ✔A written modification attached to a policy that
|| || || || || || || || || || || ||
increases or decreases coverage and/or premiums.
|| || || || ||
What is a unilateral contract? - correct answer ✔A contract in which only
|| || || || || || || || || || || || ||
one of the parties is legally bound to fulfill its obligations.
|| || || || || || || || || ||
What law protects consumers from the circulation of inaccurate or obsolete
|| || || || || || || || || ||
information? - correct answer ✔The Fair Credit Reporting Act.
|| || || || || || || || ||
What are the three types of agent authority? - correct answer ✔Implied,
|| || || || || || || || || || || ||
Express, and Apparent.|| ||
Agent - correct answer ✔An individual who is licensed to sell, negotiate, or
|| || || || || || || || || || || ||
effect insurance contracts on behalf of the insurer.
|| || || || || || || ||
What is name of the process that insurance companies use to determine
|| || || || || || || || || || || ||
whether or not an applicant is insurable? - correct answer ✔Underwriting
|| || || || || || || || || ||
,The requirement that agents must account for and promptly remit all
|| || || || || || || || || || ||
insurance funds collected is known as what type of agent responsibility? -
|| || || || || || || || || || || ||
correct answer ✔Fiduciary || ||
What is a third-party ownership? - correct answer ✔An insurance
|| || || || || || || || || ||
arrangement in which the policy owner and the insured are not the same
|| || || || || || || || || || || || ||
person.
Suitability - correct answer ✔Factors that determine if an insurance product
|| || || || || || || || || ||
is appropriate for a particular customer.
|| || || || || ||
Premium - correct answer ✔A payment by the policy owner to the
|| || || || || || || || || || || ||
insurance company to keep the policy in force.
|| || || || || || ||
Disclosure - correct answer ✔Providing sufficient information to help
|| || || || || || || || ||
someone make informed decision. || || ||
An agent offer a client free tickets to a sporting event in exchange for the
|| || || || || || || || || || || || || || ||
purchase of an insurance policy. What is the agent guilty of? - correct
|| || || || || || || || || || || || ||
answer ✔Rebating ||
If an insurer meets the states financial requirements and is approved to
|| || || || || || || || || || || ||
transact business in the state, it is considered what type of insurer? -
|| || || || || || || || || || || || ||
correct answer ✔Authorized || ||
What information are the members of the medical information bureau
|| || || || || || || || || ||
required to report? - correct answer ✔Adverse medical information about
|| || || || || || || || || ||
the applicants or insureds.
|| || ||
, What type of beneficiary can be changed at any point by the policy owner?
|| || || || || || || || || || || || ||
- correct answer ✔Revocable
|| || || ||
What document describes the specific information about a policy? - correct
|| || || || || || || || || || ||
answer ✔Policy Summary || ||
What is the term for the causes of loss insured against in an insurance
|| || || || || || || || || || || || || ||
policy? - correct answer ✔Peril
|| || || ||
Whom does an insurance agent represent? - correct answer ✔Insurance
|| || || || || || || || || ||
Company
What is an unfair trade practice? - correct answer ✔Any fraudulent,
|| || || || || || || || || || ||
deceptive, or dishonest business practice that is prohibited by statutes and
|| || || || || || || || || || ||
regulations.
Insurer - correct answer ✔The company that issues an insurance policy.
|| || || || || || || || || ||
Peril - correct answer ✔Cause of loss
|| || || || || ||
Contract of Adhesion - correct answer ✔A contract prepared by one party
|| || || || || || || || || || || ||
that must be accepted as written or be rejected by the other party.
|| || || || || || || || || || || ||
What are the four elements of an insurance contract? - correct answer
|| || || || || || || || || || || ||
✔Agreement (Offer and Acceptance), consideration, competent parties, and
|| || || || || || || ||
legal purpose.
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