Florida 2-15 Final Exam 2025
Study online at https://quizlet.com/_hlzep4
When life insurance proceeds are used
to pay inheritance taxes and federal es- Estate conservation
tate taxes, it is known as
In group insurance, the primary purpose
of the Coordination of Benefits provision Prevent overinsurance
is to
Which of the following statements is NOT All additional provisions written by in-
true regarding health insurance policy surers are cataloged by their respective
provisions? states.
The policyowner has an option to pledge
the life insurance policy as collateral for A collateral assignment
a bank loan. This is called
A whole life policy is surrendered for a
reduced-paid up policy. The cash value Continue to increase
in the new policy will
When filling out an application for insur-
ance, the applicant makes a mistake. If Cross the incorrect answer out, write the
a fresh application were not available, correct one beside it, and initial the an-
what could the applicant do to properly swer.
correct the mistake?
Which of the following riders pays a ben-
eficiary a death benefit that is double
or triple the face amount if the insured's An Accidental Death Rider
death was caused by an accident as de-
fined in the policy?
All of the following are consideration in
The cash value in the policy.
an insurance policy EXCEPT
An individual has a $200,000 convertible Convert to a whole life policy for the
term life insurance policy. If he chooses, same face amount without proof of insur-
he can ability.
Which of the following is NOT true re- Income payments begin within 1 year
garding a deferred annuity? from the date of purchase.
A retail shop owner is insured under a
business overhead expense policy that
pays a maximum monthly benefit of
, Florida 2-15 Final Exam 2025
Study online at https://quizlet.com/_hlzep4
$2,500. His actual monthly expenses are
$3,000. If the owner becomes disabled,
$2,500
the monthly benefit payable under his
policy will be
Which federal act defines rules pertain-
HIPAA
ing to protected health information?
Establish a maximum amount of
The "stop-loss" feature on a major med- out-of-pocket expense that an insured
ical policy is intended to will have to pay for medical expense in a
calendar year.
If a business wants to make sure it will be
able to cover losses due to the disability
Key person disability income
of its top employee, the business should
get which type of insurance?
Life insurance creates an immediate es- The face value of the policy is payable
tate. Which of the following best explains to the beneficiary upon the death of the
this statement? insured.
What is the maximum age that a disabled
insured worker may receive Social Secu- 65
rity disability benefits?
Whose responsibility is it to ensure that
the application for health insurance is The agent's
complete and accurate?
Which of the following policies would
Term Life
NOT offer a policy loan option?
Regarding the consideration clause, Consideration of the insurer and insured
which of the following is NOT correct? must be equal.
The guaranteed purchase option is also
Future increase option.
referred to as the
When an insured terminates member-
ship in the insured group, the insured can Whole life without proof of insurability.
convert to
Which dividend option will increase the
Paid-up additions
death benefit?
Study online at https://quizlet.com/_hlzep4
When life insurance proceeds are used
to pay inheritance taxes and federal es- Estate conservation
tate taxes, it is known as
In group insurance, the primary purpose
of the Coordination of Benefits provision Prevent overinsurance
is to
Which of the following statements is NOT All additional provisions written by in-
true regarding health insurance policy surers are cataloged by their respective
provisions? states.
The policyowner has an option to pledge
the life insurance policy as collateral for A collateral assignment
a bank loan. This is called
A whole life policy is surrendered for a
reduced-paid up policy. The cash value Continue to increase
in the new policy will
When filling out an application for insur-
ance, the applicant makes a mistake. If Cross the incorrect answer out, write the
a fresh application were not available, correct one beside it, and initial the an-
what could the applicant do to properly swer.
correct the mistake?
Which of the following riders pays a ben-
eficiary a death benefit that is double
or triple the face amount if the insured's An Accidental Death Rider
death was caused by an accident as de-
fined in the policy?
All of the following are consideration in
The cash value in the policy.
an insurance policy EXCEPT
An individual has a $200,000 convertible Convert to a whole life policy for the
term life insurance policy. If he chooses, same face amount without proof of insur-
he can ability.
Which of the following is NOT true re- Income payments begin within 1 year
garding a deferred annuity? from the date of purchase.
A retail shop owner is insured under a
business overhead expense policy that
pays a maximum monthly benefit of
, Florida 2-15 Final Exam 2025
Study online at https://quizlet.com/_hlzep4
$2,500. His actual monthly expenses are
$3,000. If the owner becomes disabled,
$2,500
the monthly benefit payable under his
policy will be
Which federal act defines rules pertain-
HIPAA
ing to protected health information?
Establish a maximum amount of
The "stop-loss" feature on a major med- out-of-pocket expense that an insured
ical policy is intended to will have to pay for medical expense in a
calendar year.
If a business wants to make sure it will be
able to cover losses due to the disability
Key person disability income
of its top employee, the business should
get which type of insurance?
Life insurance creates an immediate es- The face value of the policy is payable
tate. Which of the following best explains to the beneficiary upon the death of the
this statement? insured.
What is the maximum age that a disabled
insured worker may receive Social Secu- 65
rity disability benefits?
Whose responsibility is it to ensure that
the application for health insurance is The agent's
complete and accurate?
Which of the following policies would
Term Life
NOT offer a policy loan option?
Regarding the consideration clause, Consideration of the insurer and insured
which of the following is NOT correct? must be equal.
The guaranteed purchase option is also
Future increase option.
referred to as the
When an insured terminates member-
ship in the insured group, the insured can Whole life without proof of insurability.
convert to
Which dividend option will increase the
Paid-up additions
death benefit?
