FLORIDA INSURANCE ACTUAL EXAM
2026 ALL QUESTIONS AND VERIFIED
ANSWERS | ALREADY A GRADED|
NEW AND REVISED
What would the Medical Information Bureau (MIB) identify? -
ANSWER- Testing positive for marijuana use from a previous screening
How would a contingent beneficiary receive the policy proceeds in an
Accidental Death and Dismemberment (AD&D) policy? - ANSWER- If
the primary beneficiary dies before the insured
Under a Renewable Term policy, - ANSWER- the renewal premium is
calculated on the basis of the insured's attained age
Which of the following statements is true about most Blue Cross/Blue
Shield organizations? - ANSWER- They are nonprofit organizations
If a policyowner does not pay the premium by the due date, the -
ANSWER- policyowner can make the premium payment during the
grace period
According to Florida law, which of the following information does NOT
need to be obtained by an agent recommending an annuity purchase? -
ANSWER- Marital status
,Which of these characteristics is consistent with a Straight Life policy? -
ANSWER- Premiums are payable for as long as there is insurance
coverage in force
P completes an application for a $10,000 life policy, but does not give
the producer the initial premium. P's coverage becomes effective when: -
ANSWER- P receives the policy and pays the premium
On August 6, D submitted an application for a $50,000 Life Insurance
policy and did not pay the initial premium. On August 18, D went to his
doctor complaining of chest pains and some tests were given by the
doctor. The life policy was delivered by the producer on August 20 and
D explains what had recently taken place with the doctor. What action
should the producer then take? - ANSWER- Collect initial premium
along with a signed health statement
A life insurance policyowner may sell their policy to a(n) _____ in order
to receive a percentage of the policy's face value. - ANSWER- viatical
settlement provider
According to Florida law, when must an agent deliver the Outline of
Coverage to a Medicare Supplement applicant? - ANSWER- At the time
of application
Which of the following statements about accumulated interest earned on
dividends from an insurance policy is TRUE? - ANSWER- It is taxed as
ordinary income
, The automatic premium loan provision is designed to: - ANSWER-
avoid a policy lapse
A term life insurance policy matures: - ANSWER- upon the insured's
death during the term of the policy
What kind of insurance policy supplies an income stream over a set
period of time that starts when the insured dies? - ANSWER- Family
Maintenance Policy
The guarantee of insurability option provides a long-term care
policyowner the ability to: - ANSWER- buy additional coverage at a
later date
When determining the monthly benefit amount for a Disability Income
policy, the factor that limits the amount a prospective insured may
purchase is: - ANSWER- income
Periodic health claim payments MUST be made at least: - ANSWER-
monthly
Which type of plan allows an employer to give money to an employee
for buying a life insurance policy and also permits the employee to
select the beneficiary? - ANSWER- Split-dollar plan
2026 ALL QUESTIONS AND VERIFIED
ANSWERS | ALREADY A GRADED|
NEW AND REVISED
What would the Medical Information Bureau (MIB) identify? -
ANSWER- Testing positive for marijuana use from a previous screening
How would a contingent beneficiary receive the policy proceeds in an
Accidental Death and Dismemberment (AD&D) policy? - ANSWER- If
the primary beneficiary dies before the insured
Under a Renewable Term policy, - ANSWER- the renewal premium is
calculated on the basis of the insured's attained age
Which of the following statements is true about most Blue Cross/Blue
Shield organizations? - ANSWER- They are nonprofit organizations
If a policyowner does not pay the premium by the due date, the -
ANSWER- policyowner can make the premium payment during the
grace period
According to Florida law, which of the following information does NOT
need to be obtained by an agent recommending an annuity purchase? -
ANSWER- Marital status
,Which of these characteristics is consistent with a Straight Life policy? -
ANSWER- Premiums are payable for as long as there is insurance
coverage in force
P completes an application for a $10,000 life policy, but does not give
the producer the initial premium. P's coverage becomes effective when: -
ANSWER- P receives the policy and pays the premium
On August 6, D submitted an application for a $50,000 Life Insurance
policy and did not pay the initial premium. On August 18, D went to his
doctor complaining of chest pains and some tests were given by the
doctor. The life policy was delivered by the producer on August 20 and
D explains what had recently taken place with the doctor. What action
should the producer then take? - ANSWER- Collect initial premium
along with a signed health statement
A life insurance policyowner may sell their policy to a(n) _____ in order
to receive a percentage of the policy's face value. - ANSWER- viatical
settlement provider
According to Florida law, when must an agent deliver the Outline of
Coverage to a Medicare Supplement applicant? - ANSWER- At the time
of application
Which of the following statements about accumulated interest earned on
dividends from an insurance policy is TRUE? - ANSWER- It is taxed as
ordinary income
, The automatic premium loan provision is designed to: - ANSWER-
avoid a policy lapse
A term life insurance policy matures: - ANSWER- upon the insured's
death during the term of the policy
What kind of insurance policy supplies an income stream over a set
period of time that starts when the insured dies? - ANSWER- Family
Maintenance Policy
The guarantee of insurability option provides a long-term care
policyowner the ability to: - ANSWER- buy additional coverage at a
later date
When determining the monthly benefit amount for a Disability Income
policy, the factor that limits the amount a prospective insured may
purchase is: - ANSWER- income
Periodic health claim payments MUST be made at least: - ANSWER-
monthly
Which type of plan allows an employer to give money to an employee
for buying a life insurance policy and also permits the employee to
select the beneficiary? - ANSWER- Split-dollar plan
