1 || |P |a |g |e
FLORIDA 2-15 INSURANCE LICENSE EXAM
COMPREHENSIVE STUDY GUIDE QUESTIONS
AND VERIFIED ANSWERS
Mathew purchased an annuity naming his wife, Cher, beneficiary. Upon Mathew's
| | | | | | | | | |
death, Cher will receive the proceeds: - correct-answer-taxed as ordinary income
| | | | | | | | | | |
above Mathew's cost basis.
| | | |
Policy reserves are the intangible amounts set aside by the
| | | out of
| | | | | | | |
|the insurer's assets at the beginning of the policy period. - correct-answer-
| | | | | | | | | | |
insurer
SIMPLE plans can be structured as an IRA or a 401(k). - correct-answer-TRUE
| | | | | | | | | | | |
A complete examination of an HMO's affairs is conducted at least: - correct-
| | | | | | | | | | | |
answer-once every five years.
| | | |
A portion of a mutual insurer's premiums are paid out as policy dividends and are
| | | | | | | | | | | | | |
considered: - correct-answer-refunds
| | |
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COBRA provides health benefit extensions for
| | | | | | after employment is | |
terminated. - correct-answer-18 months
| | | |
Which of the following expenses would NOT be covered under a Business
| | | | | | | | | | |
Overhead Expense policy? - correct-answer-Owner's salary
| | | | | |
Complete this sentence: "Typically, the shorter the premium-paying period, the
| | | | | | | | |
." - correct-answer-higher the premium. | | | |
Florida statutes require licensees to notify the Department in writing within
| | | | | | | | | | |
days after a change of name, residence address, principal business street address,
| | | | | | | | | | | |
or mailing address. - correct-answer-60
| | | | |
Which of the following best describes the basic principal of group insurance? -
| | | | | | | | | | | |
correct-answer-It provides coverage for a number of people under a single
| | | | | | | | | | |
contract.
|
Under the surgical schedule method of a basic medical expense plan, every
| | | | | | | | | | |
procedure: - correct-answer-is assigned a dollar amount by the insurer.
| | | | | | | | | |
, 3 || |P |a |g |e
Which of the following is an example of "churning?" - correct-answer-Replacing a
| | | | | | | | | | |
policy within the same company in a deceptive or misleading manner
| | | | | | | | | | |
What is the Free Look Period for annuity contracts? - correct-answer-14 days
| | | | | | | | | | |
Using preprinted material in a sales presentation is recommended because: -
| | | | | | | | | |
correct-answer-such material generally has been reviewed for compliance.
| | | | | | | |
The Social Security payroll tax is known as
| | | | | | | | tax. - correct-answer-
| |
FICA
|
What is the operating objective of a stock insurance company? - correct-answer-
| | | | | | | | | | |
To make a profit for its owners, the stockholders
| | | | | | | | |
Most adjustable life policies are more expensive than conventional term policies
| | | | | | | | | |
or whole life policies. - correct-answer-TRUE
| | | | | |
FLORIDA 2-15 INSURANCE LICENSE EXAM
COMPREHENSIVE STUDY GUIDE QUESTIONS
AND VERIFIED ANSWERS
Mathew purchased an annuity naming his wife, Cher, beneficiary. Upon Mathew's
| | | | | | | | | |
death, Cher will receive the proceeds: - correct-answer-taxed as ordinary income
| | | | | | | | | | |
above Mathew's cost basis.
| | | |
Policy reserves are the intangible amounts set aside by the
| | | out of
| | | | | | | |
|the insurer's assets at the beginning of the policy period. - correct-answer-
| | | | | | | | | | |
insurer
SIMPLE plans can be structured as an IRA or a 401(k). - correct-answer-TRUE
| | | | | | | | | | | |
A complete examination of an HMO's affairs is conducted at least: - correct-
| | | | | | | | | | | |
answer-once every five years.
| | | |
A portion of a mutual insurer's premiums are paid out as policy dividends and are
| | | | | | | | | | | | | |
considered: - correct-answer-refunds
| | |
,2 || |P |a |g |e
COBRA provides health benefit extensions for
| | | | | | after employment is | |
terminated. - correct-answer-18 months
| | | |
Which of the following expenses would NOT be covered under a Business
| | | | | | | | | | |
Overhead Expense policy? - correct-answer-Owner's salary
| | | | | |
Complete this sentence: "Typically, the shorter the premium-paying period, the
| | | | | | | | |
." - correct-answer-higher the premium. | | | |
Florida statutes require licensees to notify the Department in writing within
| | | | | | | | | | |
days after a change of name, residence address, principal business street address,
| | | | | | | | | | | |
or mailing address. - correct-answer-60
| | | | |
Which of the following best describes the basic principal of group insurance? -
| | | | | | | | | | | |
correct-answer-It provides coverage for a number of people under a single
| | | | | | | | | | |
contract.
|
Under the surgical schedule method of a basic medical expense plan, every
| | | | | | | | | | |
procedure: - correct-answer-is assigned a dollar amount by the insurer.
| | | | | | | | | |
, 3 || |P |a |g |e
Which of the following is an example of "churning?" - correct-answer-Replacing a
| | | | | | | | | | |
policy within the same company in a deceptive or misleading manner
| | | | | | | | | | |
What is the Free Look Period for annuity contracts? - correct-answer-14 days
| | | | | | | | | | |
Using preprinted material in a sales presentation is recommended because: -
| | | | | | | | | |
correct-answer-such material generally has been reviewed for compliance.
| | | | | | | |
The Social Security payroll tax is known as
| | | | | | | | tax. - correct-answer-
| |
FICA
|
What is the operating objective of a stock insurance company? - correct-answer-
| | | | | | | | | | |
To make a profit for its owners, the stockholders
| | | | | | | | |
Most adjustable life policies are more expensive than conventional term policies
| | | | | | | | | |
or whole life policies. - correct-answer-TRUE
| | | | | |
