Florida 2-15 Insurance License Exam Questions with Detailed Verified Answers

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Florida 2-15 Insurance License Exam
Questions with Detailed Verified
Answers

Question: Accumulation units are converted into annuity units:


Ans: 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.


Ans: 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.


Ans: FALSE


Question: Robert had an accident and qualified for Social Security disability.
Given the waiting period, when will Robert begin to receive benefits?


Ans: After 5 months


Question: The Insuring Clause includes all of the following EXCEPT the

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Ans: beneficiary


Question: Mutualization occurs when a stock company turns to a __________
company.


Ans: mutual


Question: To provide a safeguard for insureds, most major medical policies
contain a ____________ feature that limits the insured's out-of-pocket
expenses.


Ans: 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?


Ans: 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.


Ans: 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.

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Ans: FALSE


Question: Which statement is CORRECT about the Department of Financial
Services' right to examine an agent's records?


Ans: An examination can be conducted at any time to discover any unfair
trade practices.


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:


Ans: rebating


Question: ____________ term insurance provides a level amount of
protection for a specified period, after which the policy expires.


Ans: Level


Question: Business overhead expense (B.O.E.) insurance does not provide
benefits to cover the business owner's salary.


Ans: TRUE


Question: Level, decreasing, and increasing insurance are all basic forms of
____________ insurance.


Ans: term


Question: Hospice services are covered under Medicare Part A.