Florida Health, Life & Annuity End of Course EXA
Exam 4 M
QUESTIONS WITH VERIFIED ANSWERS.
A gift for the purposes of advertising is allowed if the value is not more than:
Select :
a.
one0
b.
$2 5
c.
$2
d.
$50$100 - R - A gift for the purposes of advertising is allowed if the value
more
ANSWE than .
is not
$25.00
The correct answer is: $25
A husband names his current wife as the primary beneficiary of his life
insurance policy.
His children from a prior marriage are contingent beneficiaries. Under the
Uniform Simultaneous Death Act, who will receive the death benefit if the
husband and wife are in a car accident and there is no evidence of who died
first?
Select one:
a. The husband's children from his prior marriage
b. The husband's estate
c. The wife's children from her prior marriage
d. The wife's estate - ANSWER - Under the Uniform Simultaneous Death
Act, the death benefit is paid as if the primary beneficiary died first. If the
husband's children predeceased him, then his estate would receive the
death benefit.
The correct answer is: The husband's children from his prior marriage
A Medicare supplement insurer cannot deny an application for a Medicare
supplement policy nor charge a higher premium if the applicant is under 65
and eligible for Medicare due to disability or:
Florida Health, Life & Annuity End of Course Exam 4 EXAM QUESTIONS WITH
VERIFIED ANSWERS.
,Select one:
a. Cancer
b. Diabetes
c. HIV/AIDS
d. ESRD - ANSWER - A Medicare supplement insurer cannot deny an
application for
a Medicare supplement policy nor charge a higher premium if the applicant
is under 65
and eligible for Medicare due to disability or end-stage renal
disease (ESRD).
The correct answer is: ESRD
A person insured under a group life insurance policy may make an
assignment of which
of the
following?
Select one:
a. The right to name a beneficiary.
b. Conversion
c. All of the above.
d. Policy proceeds - ANSWER - Any person insured under a group life
insurance policy may make an assignment of all or any part of their
incidents of ownership under such policy including: conversion, the right to
name a beneficiary, assign policy proceeds. All incidents of ownership may
be assigned, without prejudice to the insurer on account of any payment it
may make or individual policy it may issue.
The correct answer is: All of the above.
A policyowner can change a beneficiary unless the beneficiary is:
Select one:
a. A relative
b. Indeterminate
c. Estopped
d. Irrevocable - ANSWER - Policyowner's have the right at all times to
change the beneficiary or beneficiaries unless the policyowner waives this
right in writing by stating that the beneficiary is irrevocable.
The correct answer is: Irrevocable
A rebate is allowed for people based on which of the following?
Select one:
Florida Health, Life & Annuity End of Course Exam 4 EXAM QUESTIONS WITH
VERIFIED ANSWERS.
,a. Marital status
b. Actuarial class
c. Place of residence
d. Age - ANSWER - No insurance agency agent shall rebate any portion of a
commission unless the rebate is available to all insureds in the same
actuarial class and the age, sex, place of residence, race, nationality,
ethnic origin, marital status, or occupation of the insured or location of the
risk is not utilized in determining the percentage of the rebate or whether
a rebate is available.
The correct answer is: Actuarial class
Agents are paid by which of the following?
Select one:
a. Salaries only
b. Commissions only
c. Counseling service fees only
d. Commissions and counseling service fees - ANSWER - Only licensed and
appointed insurance agents may transact life and health insurance policies
in Florida. Agents are paid by commissions, which are apportioned from
policy premiums. Agents are permitted to charge additional amounts if
they provide counseling services for insurance, and a written contract is
signed between the agent and client before the additional fee is charged.
The correct answer is: Commissions and counseling service fees
All of the following are duties of insurers when selling annuities,
EXCEPT:
Select one:
a. Informing the consumer of the cost comparison to competitors
b. Informing the consumer of various features
c. Informing the consumer that the particular annuity as a whole is suitable
d. Informing the consumer of the benefit to the consumer of certain features
- ANSWER - Insurers must determine the suitability of annuity products
for applicants by reasonably informing the applicants of various features
and the benefit of those features, that the particular annuity as a whole is
Florida Health, Life & Annuity End of Course Exam 4 EXAM QUESTIONS WITH
VERIFIED ANSWERS.
, suitable and considerations if the annuity is a replacement. Insurers are
under no obligation to discuss their competitors.
The correct answer is: Informing the consumer of the cost comparison to
competitors
All of the following are elements of insurable risks, EXCEPT:
Select one:
a. Loss must occur by chance or accident
b. Large number of homogenous units
c. Loss must be predictable
d. Loss must be catastrophic - ANSWER - Losses must not be
catastrophic risking
insurer
insolvency.
The correct answer is: Loss must be catastrophic
All of the following are false regarding representations, EXCEPT:
Select one:
a. They are made to the best of the applicant 's knowledge.
b. They are held to the standard of warranties.
c. They are statements which are guaranteed to be true in every respect.
d. They will void a policy. - ANSWER - The applicant's statements made in
an insurance application are held to be representations, statements made
to the best of their knowledge.
The correct answer is: They are made to the best of the applicant 's
knowledge.
All of the following are nonforfeiture options, EXCEPT:
Select one:
a. One-year term option.
b. Extended term option.
c. Cash surrender value option.
Florida Health, Life & Annuity End of Course Exam 4 EXAM QUESTIONS WITH
VERIFIED ANSWERS.
Exam 4 M
QUESTIONS WITH VERIFIED ANSWERS.
A gift for the purposes of advertising is allowed if the value is not more than:
Select :
a.
one0
b.
$2 5
c.
$2
d.
$50$100 - R - A gift for the purposes of advertising is allowed if the value
more
ANSWE than .
is not
$25.00
The correct answer is: $25
A husband names his current wife as the primary beneficiary of his life
insurance policy.
His children from a prior marriage are contingent beneficiaries. Under the
Uniform Simultaneous Death Act, who will receive the death benefit if the
husband and wife are in a car accident and there is no evidence of who died
first?
Select one:
a. The husband's children from his prior marriage
b. The husband's estate
c. The wife's children from her prior marriage
d. The wife's estate - ANSWER - Under the Uniform Simultaneous Death
Act, the death benefit is paid as if the primary beneficiary died first. If the
husband's children predeceased him, then his estate would receive the
death benefit.
The correct answer is: The husband's children from his prior marriage
A Medicare supplement insurer cannot deny an application for a Medicare
supplement policy nor charge a higher premium if the applicant is under 65
and eligible for Medicare due to disability or:
Florida Health, Life & Annuity End of Course Exam 4 EXAM QUESTIONS WITH
VERIFIED ANSWERS.
,Select one:
a. Cancer
b. Diabetes
c. HIV/AIDS
d. ESRD - ANSWER - A Medicare supplement insurer cannot deny an
application for
a Medicare supplement policy nor charge a higher premium if the applicant
is under 65
and eligible for Medicare due to disability or end-stage renal
disease (ESRD).
The correct answer is: ESRD
A person insured under a group life insurance policy may make an
assignment of which
of the
following?
Select one:
a. The right to name a beneficiary.
b. Conversion
c. All of the above.
d. Policy proceeds - ANSWER - Any person insured under a group life
insurance policy may make an assignment of all or any part of their
incidents of ownership under such policy including: conversion, the right to
name a beneficiary, assign policy proceeds. All incidents of ownership may
be assigned, without prejudice to the insurer on account of any payment it
may make or individual policy it may issue.
The correct answer is: All of the above.
A policyowner can change a beneficiary unless the beneficiary is:
Select one:
a. A relative
b. Indeterminate
c. Estopped
d. Irrevocable - ANSWER - Policyowner's have the right at all times to
change the beneficiary or beneficiaries unless the policyowner waives this
right in writing by stating that the beneficiary is irrevocable.
The correct answer is: Irrevocable
A rebate is allowed for people based on which of the following?
Select one:
Florida Health, Life & Annuity End of Course Exam 4 EXAM QUESTIONS WITH
VERIFIED ANSWERS.
,a. Marital status
b. Actuarial class
c. Place of residence
d. Age - ANSWER - No insurance agency agent shall rebate any portion of a
commission unless the rebate is available to all insureds in the same
actuarial class and the age, sex, place of residence, race, nationality,
ethnic origin, marital status, or occupation of the insured or location of the
risk is not utilized in determining the percentage of the rebate or whether
a rebate is available.
The correct answer is: Actuarial class
Agents are paid by which of the following?
Select one:
a. Salaries only
b. Commissions only
c. Counseling service fees only
d. Commissions and counseling service fees - ANSWER - Only licensed and
appointed insurance agents may transact life and health insurance policies
in Florida. Agents are paid by commissions, which are apportioned from
policy premiums. Agents are permitted to charge additional amounts if
they provide counseling services for insurance, and a written contract is
signed between the agent and client before the additional fee is charged.
The correct answer is: Commissions and counseling service fees
All of the following are duties of insurers when selling annuities,
EXCEPT:
Select one:
a. Informing the consumer of the cost comparison to competitors
b. Informing the consumer of various features
c. Informing the consumer that the particular annuity as a whole is suitable
d. Informing the consumer of the benefit to the consumer of certain features
- ANSWER - Insurers must determine the suitability of annuity products
for applicants by reasonably informing the applicants of various features
and the benefit of those features, that the particular annuity as a whole is
Florida Health, Life & Annuity End of Course Exam 4 EXAM QUESTIONS WITH
VERIFIED ANSWERS.
, suitable and considerations if the annuity is a replacement. Insurers are
under no obligation to discuss their competitors.
The correct answer is: Informing the consumer of the cost comparison to
competitors
All of the following are elements of insurable risks, EXCEPT:
Select one:
a. Loss must occur by chance or accident
b. Large number of homogenous units
c. Loss must be predictable
d. Loss must be catastrophic - ANSWER - Losses must not be
catastrophic risking
insurer
insolvency.
The correct answer is: Loss must be catastrophic
All of the following are false regarding representations, EXCEPT:
Select one:
a. They are made to the best of the applicant 's knowledge.
b. They are held to the standard of warranties.
c. They are statements which are guaranteed to be true in every respect.
d. They will void a policy. - ANSWER - The applicant's statements made in
an insurance application are held to be representations, statements made
to the best of their knowledge.
The correct answer is: They are made to the best of the applicant 's
knowledge.
All of the following are nonforfeiture options, EXCEPT:
Select one:
a. One-year term option.
b. Extended term option.
c. Cash surrender value option.
Florida Health, Life & Annuity End of Course Exam 4 EXAM QUESTIONS WITH
VERIFIED ANSWERS.
