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Florida 2-15 Insurance License Exam
Questions with Detailed Verified
Answers
Question: Accumulation units are converted into annuity units:
Answer: at the time of annuity payout.
Question:A group life insurance plan in which the employer pays the entire
premium is known as a ________________ plan.
Answer: noncontributory
Question: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.
Answer: FALSE
Question:Robert had an accident and qualified for Social Security disability.
Given the waiting period, when will Robert begin to receive benefits?
Answer: After 5 months
Question:The Insuring Clause includes all of the following EXCEPT the
Answer: beneficiary
Question:Mutualization occurs when a stock company turns to a __________
company.
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Answer: mutual
Question:To provide a safeguard for insureds, most major medical policies
contain a ____________ feature that limits the insured's out-of-pocket
expenses.
Answer: stop-loss
Question: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?
Answer: Acme Insurance Agency
Question:An insurance clause is a distinct article in a formal document that
establishes the rules in the contract that _____________________ must
adhere to.
Answer: both the insurer and the insured
Question:"ACC" refers to the type of disability that prevents someone from
performing the job he was performing prior to the disability.
Answer: FALSE
Question:Which statement is CORRECT about the Department of Financial
Services' right to examine an agent's records?
Answer: An examination can be conducted at any time to discover any unfair
trade practices.
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Question:Bill gives Jim a couple of tickets to a Florida Gators game to thank
him for purchasing a policy. This is an example of:
Answer: rebating
Question:____________ term insurance provides a level amount of protection
for a specified period, after which the policy expires.
Answer: Level
Question:Business overhead expense (B.O.E.) insurance does not provide
benefits to cover the business owner's salary.
Answer: TRUE
Question:Level, decreasing, and increasing insurance are all basic forms of
____________ insurance.
Answer: term
Question:Hospice services are covered under Medicare Part A.
Answer: TRUE
Question:Under Florida law, group health insurers must offer mental and
nervous disorder insurance to policyowners.
Answer: TRUE
Question:Deductibles under a group major medical plan usually run from
$250 to $500; whereas individual health plans usually run from:
Answer: $1,000 plus.
Florida 2-15 Insurance License Exam
Questions with Detailed Verified
Answers
Question: Accumulation units are converted into annuity units:
Answer: at the time of annuity payout.
Question:A group life insurance plan in which the employer pays the entire
premium is known as a ________________ plan.
Answer: noncontributory
Question: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.
Answer: FALSE
Question:Robert had an accident and qualified for Social Security disability.
Given the waiting period, when will Robert begin to receive benefits?
Answer: After 5 months
Question:The Insuring Clause includes all of the following EXCEPT the
Answer: beneficiary
Question:Mutualization occurs when a stock company turns to a __________
company.
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Answer: mutual
Question:To provide a safeguard for insureds, most major medical policies
contain a ____________ feature that limits the insured's out-of-pocket
expenses.
Answer: stop-loss
Question: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?
Answer: Acme Insurance Agency
Question:An insurance clause is a distinct article in a formal document that
establishes the rules in the contract that _____________________ must
adhere to.
Answer: both the insurer and the insured
Question:"ACC" refers to the type of disability that prevents someone from
performing the job he was performing prior to the disability.
Answer: FALSE
Question:Which statement is CORRECT about the Department of Financial
Services' right to examine an agent's records?
Answer: An examination can be conducted at any time to discover any unfair
trade practices.
, Page | 3
Question:Bill gives Jim a couple of tickets to a Florida Gators game to thank
him for purchasing a policy. This is an example of:
Answer: rebating
Question:____________ term insurance provides a level amount of protection
for a specified period, after which the policy expires.
Answer: Level
Question:Business overhead expense (B.O.E.) insurance does not provide
benefits to cover the business owner's salary.
Answer: TRUE
Question:Level, decreasing, and increasing insurance are all basic forms of
____________ insurance.
Answer: term
Question:Hospice services are covered under Medicare Part A.
Answer: TRUE
Question:Under Florida law, group health insurers must offer mental and
nervous disorder insurance to policyowners.
Answer: TRUE
Question:Deductibles under a group major medical plan usually run from
$250 to $500; whereas individual health plans usually run from:
Answer: $1,000 plus.
