Exam Simulator- Florida Life and Health State Exam Simulator Questions with Detailed Verified Answers

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Exam Simulator- Florida Life and
Health State Exam Simulator
Questions with Detailed Verified
Answers

Question: Which of the following statements about guaranteed renewable
health insurance policy is correct?


Ans: Premiums normally increase at the time of renewal.


Question: The issuer must provide a perspective buyer with an?


Ans: Buyers guide and policy summary


Question: T would like to be assured $10,000 is available in 10 years to
replace a roof on his house. What kind of $10,000 policy should T purchase?


Ans: Ten-year Endowment


Question: According to the time payment of claims provision, the insurer
must pay disability income benefits no less frequently then which of the
following options?


Ans: Monthly

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Question: Which of the following is the most important factor when deciding
how much disability income coverage an applicant should purchase?


Ans: Applicants monthly income


Question: Which two entitles regulate variable annuities?


Ans: Department of Financial Services; Securities Exchange Commission.


Question: The amount of coverage on a group life policy is limited to?


Ans: The insured's total loan value


Question: The provision that can be used to put on insurance policy back in
force after it has lapsed due to nonpayment is called?


Ans: Reinstatement


Question: Which product would best serve a retired individual looking to
invest a lump-sum of money through an insurance company?


Ans: Annuity


Question: According to Florida law, a group life insurance policy requires a
minimum how many insureds?


Ans: No minimum

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Question: Multiple employer welfare arrangement (MEWA) provides what
type of benefits?


Ans: Insurance


Question: In a qualified retirement plan, the yearly contributions to an
employee's account?


Ans: Are restricted to maximum level set by the IRS


Question: All of the following entries are classified under the four principal
areas of Florida insurance law except?


Ans: An agent's commission


Question: According to Florida's life insurance replacement law, about
policyowner must be provided with the written comparison and summary
statement when it's required by?


Ans: The policyowner


Question: On delivery of policy, a signed statement of good health is typically
request if?


Ans: The application was submitted without the initial premium.


Question: K is the insured and P is the sole beneficiary on an accidental death
and dismemberment insurance policy. Both are involved in a fatal accident

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where K dies before P. Under the common disaster provision, which of these
statements is true?


Ans: Proceeds will be paid to P's estate


Question: An insured is past due on his life insurance premium but is still
within the grace period. What will the beneficiary receive if the insured dies
during the grace period.?


Ans: Full face amount minus any past due premiums


Question: A business overhead expens policy would cover which of the
following if a business owner becomes disabled?


Ans: Utilities and office rent


Question: Employers with less then —— employees are affected by Florida
health insurance coverage continuation act (Mini COBRA)?


Ans: 20


Question: S is employer by large corporation that provides group health
coverage for its employees and their dependents. If S dies, The company must
allow his surviving spouse and dependents to continue their group health
coverage for a maximum of how many months on the cobra regulations?


Ans: 36 months (under COBRA)