FL Life and Health Insurance 2-15 Study
Exam (165 questions) verified solutions
2025\2026 A+ Grade
N is covered by a Term Life policy and does not make the required premium payment which was due
August 1. N dies September 15. What action will the insurer take?
- correct answer Claim will be denied.
A contract where one party either accepts or rejects the terms of a contract written by another party is
called a contract of
- correct answer adhesion
All of the following statements about Major Medical benefits are true, EXCEPT:
- correct answer Benefits have no maximum limit
W gave W's age as 50 when W purchased a Life policy. At the time of W's death seven years later, the
company discovered W's true age at issue had been 59. What would the normal procedure be under the
misstatement of age provision in regard to the payment of the death claim?
- correct answer The proceeds would be reduced based on whatever the premium would have been if
purchased at age 59.
All of these are considered sources of underwriting information about an applicant, EXCEPT:
- correct answer Inspection Report
According to the Mandatory Uniform Policy Provisions, what is the maximum amount of time after the
premium due date during which the policy remains in force even though the premium has not been
paid?
- correct answer 31 days
,Which provision allows the policy owner to change a term life policy to a permanent one without
providing proof of good health?
- correct answer Conversion
What do families pay that are covered by the Florida Healthy Kids Corporation?
- correct answer A portion of the premium
Which statement regarding third-party ownership of a life insurance policy is true?
- correct answer It is used extensively in estate planning as well as business circumstances.
Which of the following employees may NOT be excluded from a group life plan?
- correct answer Full-time employees after the probationary period.
Which of the following statements BEST describes what the Legal Actions provision of an Accident and
Health policy requires?
- correct answer An insured must wait at least 60 days after Proof of Loss has been submitted before a
lawsuit can be filed.
What percentage of eligible persons must a policy cover in a noncontributory group?
- correct answer 100%
What are adjustable rates for life policy loans in Florida based on?
- correct answer Moody's corporate bond index.
An underwriter determines that a life insurance applicant's risk should be reclassified due to a health
issue. This policy may be issued with a(n):
- correct answer exclusion for the medical condition
What is the initial requirement for an insured to become eligible for benefits under the Waiver of
Premium provision?
- correct answer Insured must be under a physician's care
, J has a Disability Income policy that does NOT provide benefits for losses occurring as the result of his
employment. What kind of coverage is this?
- correct answer Nonoccupational coverage
K is insured under a Group Life Insurance policy. K is considered to be a(n)
- correct answer certificate holder
According to Florida law, which of the following information does NOT need to be obtained by an agent
recommending an annuity purchase?
- correct answer Marital status
Dividends paid from a life insurance policy are
- correct answer taxable
S takes out a health insurance policy which contains a provision that states the agent does not have the
authority to change the policy or waive any of its provisions. Which health policy provision is this?
- correct answer Entire Contract
Which policy requires an agent to register with the National Association of Securities Dealers (NASD)
before selling?
- correct answer Variable Life
Defamation occurs when an agent makes a false statement intended to
- correct answer malign another insurer
J owns a business and has a Group Life policy covering her employees. J decides to cancel the policy by
letting it lapse on the renewal date. What action must be taken?
- correct answer All of the employees must be notified of the cancellation either by the insurance
company or through J.
Which of the following is NOT required in the Outline of Coverage for a health insurance policy?
- correct answer Projection of the policy's future costs.
Exam (165 questions) verified solutions
2025\2026 A+ Grade
N is covered by a Term Life policy and does not make the required premium payment which was due
August 1. N dies September 15. What action will the insurer take?
- correct answer Claim will be denied.
A contract where one party either accepts or rejects the terms of a contract written by another party is
called a contract of
- correct answer adhesion
All of the following statements about Major Medical benefits are true, EXCEPT:
- correct answer Benefits have no maximum limit
W gave W's age as 50 when W purchased a Life policy. At the time of W's death seven years later, the
company discovered W's true age at issue had been 59. What would the normal procedure be under the
misstatement of age provision in regard to the payment of the death claim?
- correct answer The proceeds would be reduced based on whatever the premium would have been if
purchased at age 59.
All of these are considered sources of underwriting information about an applicant, EXCEPT:
- correct answer Inspection Report
According to the Mandatory Uniform Policy Provisions, what is the maximum amount of time after the
premium due date during which the policy remains in force even though the premium has not been
paid?
- correct answer 31 days
,Which provision allows the policy owner to change a term life policy to a permanent one without
providing proof of good health?
- correct answer Conversion
What do families pay that are covered by the Florida Healthy Kids Corporation?
- correct answer A portion of the premium
Which statement regarding third-party ownership of a life insurance policy is true?
- correct answer It is used extensively in estate planning as well as business circumstances.
Which of the following employees may NOT be excluded from a group life plan?
- correct answer Full-time employees after the probationary period.
Which of the following statements BEST describes what the Legal Actions provision of an Accident and
Health policy requires?
- correct answer An insured must wait at least 60 days after Proof of Loss has been submitted before a
lawsuit can be filed.
What percentage of eligible persons must a policy cover in a noncontributory group?
- correct answer 100%
What are adjustable rates for life policy loans in Florida based on?
- correct answer Moody's corporate bond index.
An underwriter determines that a life insurance applicant's risk should be reclassified due to a health
issue. This policy may be issued with a(n):
- correct answer exclusion for the medical condition
What is the initial requirement for an insured to become eligible for benefits under the Waiver of
Premium provision?
- correct answer Insured must be under a physician's care
, J has a Disability Income policy that does NOT provide benefits for losses occurring as the result of his
employment. What kind of coverage is this?
- correct answer Nonoccupational coverage
K is insured under a Group Life Insurance policy. K is considered to be a(n)
- correct answer certificate holder
According to Florida law, which of the following information does NOT need to be obtained by an agent
recommending an annuity purchase?
- correct answer Marital status
Dividends paid from a life insurance policy are
- correct answer taxable
S takes out a health insurance policy which contains a provision that states the agent does not have the
authority to change the policy or waive any of its provisions. Which health policy provision is this?
- correct answer Entire Contract
Which policy requires an agent to register with the National Association of Securities Dealers (NASD)
before selling?
- correct answer Variable Life
Defamation occurs when an agent makes a false statement intended to
- correct answer malign another insurer
J owns a business and has a Group Life policy covering her employees. J decides to cancel the policy by
letting it lapse on the renewal date. What action must be taken?
- correct answer All of the employees must be notified of the cancellation either by the insurance
company or through J.
Which of the following is NOT required in the Outline of Coverage for a health insurance policy?
- correct answer Projection of the policy's future costs.
