FLORIDA 2-15 INSURANCE LICENSE
ACTUAL EXAM 2026 ALL QUESTIONS
AND CORRECT DETAILED ANSWERS |
RATED A + | NEW AND REVISED
In Florida, a ______________ must sign for and on behalf of a minor
purchasing life insurance. - ANSWER- parent or legal guardian
When an agent spreads a false story that damages a competing agent's
reputation, the offense is called: - ANSWER- defamation
__________ is when policy values of an insurance policy are used to
purchase another policy with the same insurer for the sole purpose of
earning additional premiums or commissions. - ANSWER- Churning
Once an organization has filed an application to conduct insurance
business, the Office of Insurance Regulation will begin its review for
issuing a(n): - ANSWER- Certificate of Authority
Florida law requires health insurance policies and HMO contracts to
provide coverage for all medically necessary equipment, supplies and
services used to treat diabetes when the patient's physician certifies that
they are medically necessary. - ANSWER- TRUE
,If an insurance company reimburses the insured for medical expenses,
can the insured deduct that amount from their federal income tax? -
ANSWER- NO
Which of the following is NOT a benefit to key person insurance? -
ANSWER- Wage control
The "currently insured" classification under Social Security limits
survivorship benefits. In order to be eligible for Social Security survivor
benefits, a person must have earned _________________ period ending
with the quarter in which the worker died. - ANSWER- six credits
during the 13-quarter
A prospectus for an individual variable insurance contract: - ANSWER-
must accompany every sales presentation.
Most group disability policies use the ___________ method to calculate
the amount of the insured's earnings prior to the accident. - ANSWER-
percentage
Group health plans that are issued on an experience-rated basis can make
both premium reductions and premium increases retroactive for 12
months. - ANSWER- FALSE
Employees may be classified for group life insurance in all of the
following categories EXCEPT which? - ANSWER- Gender
, Lauren wants to purchase an annuity that will pay her a guaranteed
income for the remainder of her life once she retires. Which type of
annuity should she purchase? - ANSWER- Straight Life Income Annuity
According to Florida's Standard Valuation Law, the
__________________ is mandatory. - ANSWER- legal reserve
Equity indexed annuities are a form of: - ANSWER- fixed rate annuity.
Of the following, who would most likely pay a lower premium amount?
- ANSWER- A preferred risk client
The Statute of Limitations states that if a lawsuit is to be filed, it must be
brought within ______ years after Proof of Loss is furnished to the
insurance company. - ANSWER- five
Which type of life insurance is sold by home service insurers? -
ANSWER- Industrial life insurance
Social Security provides welfare benefits to all citizens. - ANSWER-
FALSE
In general, the standard life insurance Incontestable Clause means that a
policy is incontestable after: - ANSWER- two years.
ACTUAL EXAM 2026 ALL QUESTIONS
AND CORRECT DETAILED ANSWERS |
RATED A + | NEW AND REVISED
In Florida, a ______________ must sign for and on behalf of a minor
purchasing life insurance. - ANSWER- parent or legal guardian
When an agent spreads a false story that damages a competing agent's
reputation, the offense is called: - ANSWER- defamation
__________ is when policy values of an insurance policy are used to
purchase another policy with the same insurer for the sole purpose of
earning additional premiums or commissions. - ANSWER- Churning
Once an organization has filed an application to conduct insurance
business, the Office of Insurance Regulation will begin its review for
issuing a(n): - ANSWER- Certificate of Authority
Florida law requires health insurance policies and HMO contracts to
provide coverage for all medically necessary equipment, supplies and
services used to treat diabetes when the patient's physician certifies that
they are medically necessary. - ANSWER- TRUE
,If an insurance company reimburses the insured for medical expenses,
can the insured deduct that amount from their federal income tax? -
ANSWER- NO
Which of the following is NOT a benefit to key person insurance? -
ANSWER- Wage control
The "currently insured" classification under Social Security limits
survivorship benefits. In order to be eligible for Social Security survivor
benefits, a person must have earned _________________ period ending
with the quarter in which the worker died. - ANSWER- six credits
during the 13-quarter
A prospectus for an individual variable insurance contract: - ANSWER-
must accompany every sales presentation.
Most group disability policies use the ___________ method to calculate
the amount of the insured's earnings prior to the accident. - ANSWER-
percentage
Group health plans that are issued on an experience-rated basis can make
both premium reductions and premium increases retroactive for 12
months. - ANSWER- FALSE
Employees may be classified for group life insurance in all of the
following categories EXCEPT which? - ANSWER- Gender
, Lauren wants to purchase an annuity that will pay her a guaranteed
income for the remainder of her life once she retires. Which type of
annuity should she purchase? - ANSWER- Straight Life Income Annuity
According to Florida's Standard Valuation Law, the
__________________ is mandatory. - ANSWER- legal reserve
Equity indexed annuities are a form of: - ANSWER- fixed rate annuity.
Of the following, who would most likely pay a lower premium amount?
- ANSWER- A preferred risk client
The Statute of Limitations states that if a lawsuit is to be filed, it must be
brought within ______ years after Proof of Loss is furnished to the
insurance company. - ANSWER- five
Which type of life insurance is sold by home service insurers? -
ANSWER- Industrial life insurance
Social Security provides welfare benefits to all citizens. - ANSWER-
FALSE
In general, the standard life insurance Incontestable Clause means that a
policy is incontestable after: - ANSWER- two years.
