2025 Final Exam Florida Life and
Health Insurance Questions With 100%
Correct Answers 2026 Updated.
Insured - Answer The person covered by the insurance policy.
Rider - Answer A written modification attached to a policy that increases or decreases
coverage and/or premiums.
What is a unilateral contract? - Answer A contract in which only one of the parties is legally
bound to fulfill its obligations.
What law protects consumers from the circulation of inaccurate or obsolete information? -
Answer The Fair Credit Reporting Act.
What are the three types of agent authority? - Answer Implied, Express, and Apparent.
Agent - Answer An individual who is licensed to sell, negotiate, or effect insurance contracts
on behalf of the insurer.
What is name of the process that insurance companies use to determine whether or not an
applicant is insurable? - Answer Underwriting
The requirement that agents must account for and promptly remit all insurance funds collected
is known as what type of agent responsibility? - Answer Fiduciary
What is a third-party ownership? - Answer An insurance arrangement in which the policy
owner and the insured are not the same person.
Suitability - Answer Factors that determine if an insurance product is appropriate for a
particular customer.
Premium - Answer A payment by the policy owner to the insurance company to keep the
policy in force.
,An agent offer a client free tickets to a sporting event in exchange for the purchase of an
insurance policy. What is the agent guilty of? - Answer Rebating
If an insurer meets the states financial requirements and is approved to transact business in the
state, it is considered what type of insurer? - Answer Authorized
What information are the members of the medical information bureau required to report? -
Answer Adverse medical information about the applicants or insureds.
What type of beneficiary can be changed at any point by the policy owner? - Answer
Revocable
What document describes the specific information about a policy? - Answer Policy Summary
What is the term for the causes of loss insured against in an insurance policy? - Answer Peril
Whom does an insurance agent represent? - Answer Insurance Company
What is an unfair trade practice? - Answer Any fraudulent, deceptive, or dishonest business
practice that is prohibited by statutes and regulations.
Insurer - Answer The company that issues an insurance policy.
Peril - Answer Cause of loss
Contract of Adhesion - Answer A contract prepared by one party that must be accepted as
written or be rejected by the other party.
What are the four elements of an insurance contract? - Answer Agreement (Offer and
Acceptance), consideration, competent parties, and legal purpose.
Policy Provision - Answer A clause that stipulates the rights and obligations under an
insurance contract.
, What is underwriting? - Answer The risk selection and classification process.
What is the best way to handle incomplete insurance applications? - Answer Return the
application to the applicant for completion.
What are the five characteristics of an ideally insurable risk? - Answer Loss must be:
1. Due to Change
2. Definite and measurable
3. Statistically predictable
4. Not catastrophic
5. Coverage cannot be mandatory.
What type of policy issues certificates of insurance to the insurance? - Answer Group Policy
What is the purpose of a free-look period? - Answer To allow the insured to return the policy
and get a full refund (if done during the free-look period)
Whose responsibility is it to determine that all of the questions on an insurance application are
answered? - Answer The Agent's
What types of licensee represents the insurance company? - Answer Agent
Who must be notified of the producers change of address? - Answer The department of
Insurance
Certificate of Insurance - Answer A document issued to insureds under a group plan that
states the coverage being issued, and indicates the coverage type and amounts.
Nonrenewal - Answer Termination of a policy by an insurer on the anniversary or renewal
date.
Representation - Answer A statement made by the applicant on the insurance application
Health Insurance Questions With 100%
Correct Answers 2026 Updated.
Insured - Answer The person covered by the insurance policy.
Rider - Answer A written modification attached to a policy that increases or decreases
coverage and/or premiums.
What is a unilateral contract? - Answer A contract in which only one of the parties is legally
bound to fulfill its obligations.
What law protects consumers from the circulation of inaccurate or obsolete information? -
Answer The Fair Credit Reporting Act.
What are the three types of agent authority? - Answer Implied, Express, and Apparent.
Agent - Answer An individual who is licensed to sell, negotiate, or effect insurance contracts
on behalf of the insurer.
What is name of the process that insurance companies use to determine whether or not an
applicant is insurable? - Answer Underwriting
The requirement that agents must account for and promptly remit all insurance funds collected
is known as what type of agent responsibility? - Answer Fiduciary
What is a third-party ownership? - Answer An insurance arrangement in which the policy
owner and the insured are not the same person.
Suitability - Answer Factors that determine if an insurance product is appropriate for a
particular customer.
Premium - Answer A payment by the policy owner to the insurance company to keep the
policy in force.
,An agent offer a client free tickets to a sporting event in exchange for the purchase of an
insurance policy. What is the agent guilty of? - Answer Rebating
If an insurer meets the states financial requirements and is approved to transact business in the
state, it is considered what type of insurer? - Answer Authorized
What information are the members of the medical information bureau required to report? -
Answer Adverse medical information about the applicants or insureds.
What type of beneficiary can be changed at any point by the policy owner? - Answer
Revocable
What document describes the specific information about a policy? - Answer Policy Summary
What is the term for the causes of loss insured against in an insurance policy? - Answer Peril
Whom does an insurance agent represent? - Answer Insurance Company
What is an unfair trade practice? - Answer Any fraudulent, deceptive, or dishonest business
practice that is prohibited by statutes and regulations.
Insurer - Answer The company that issues an insurance policy.
Peril - Answer Cause of loss
Contract of Adhesion - Answer A contract prepared by one party that must be accepted as
written or be rejected by the other party.
What are the four elements of an insurance contract? - Answer Agreement (Offer and
Acceptance), consideration, competent parties, and legal purpose.
Policy Provision - Answer A clause that stipulates the rights and obligations under an
insurance contract.
, What is underwriting? - Answer The risk selection and classification process.
What is the best way to handle incomplete insurance applications? - Answer Return the
application to the applicant for completion.
What are the five characteristics of an ideally insurable risk? - Answer Loss must be:
1. Due to Change
2. Definite and measurable
3. Statistically predictable
4. Not catastrophic
5. Coverage cannot be mandatory.
What type of policy issues certificates of insurance to the insurance? - Answer Group Policy
What is the purpose of a free-look period? - Answer To allow the insured to return the policy
and get a full refund (if done during the free-look period)
Whose responsibility is it to determine that all of the questions on an insurance application are
answered? - Answer The Agent's
What types of licensee represents the insurance company? - Answer Agent
Who must be notified of the producers change of address? - Answer The department of
Insurance
Certificate of Insurance - Answer A document issued to insureds under a group plan that
states the coverage being issued, and indicates the coverage type and amounts.
Nonrenewal - Answer Termination of a policy by an insurer on the anniversary or renewal
date.
Representation - Answer A statement made by the applicant on the insurance application
