Xcel 2-15 Florida Life & Health State Exam
Simulator Questions and Answers
1. what is considered to be a characteristic of an immediate annuity
ANS benefit payments start within one payment period of purchase
2. which of these characteristics is consistent with a straight life policy
ANS premiums are payable for as long as there is insurance coverage in force
3. an insureds inability to perform two or more activities of daily
living may trigger which type of life policy rider
ANS long term care
4. B recently died and was insured with a life insurance policy for over
five years. During the claims process, the insurer discovered that B
had understated his age by 5 years at the time of application. In this
situation, the insurer will
ANS pay the amount that the premium would have purchased at the correct age
5. what action can a policyowner take if an application for a bank
loan requires collateral
ANS assign policy ownership to the bank
6. what is required in the Florida Employee Health Care Access Act
,ANS small group benefit plans are to be issued on a guarantee issue basis
7. P is a forty year old woman and would like to purchase an annuity
that will provide a lifetime income stream beginning at age sixty.
Which of the following did she NOT buy?
ANS an immediate annuity
8. the situation in which a group of physicians are salaried
employees and conduct business in an hmo facility is called
ANS closed panel
9. T sends proof of loss to her insurer for an acceptable medical
expense claim under her individual Health Insurance policy. Upon
receipt, the insurer must pay the benefits
ANS immediately
10. an application
for medicare supplement coverage may not be denied by the
insurer if the application was submitted within month(s) after
the applicant reaches the age 65
ANS six
11. when a policyowner cash surrenders a universal life
insurance policy in its early years, this may be considered a red flag for
a(n)
,ANS anti money laundering violation
12. When is a Group Health policy required to provide coverage
for a newborn child?
ANS at the moment of birth
13. which of the following situations does not apply to the
florida replacement rule
ANS an existing policyholder purchases an additional policy from the same insurer
14. under a renewable term policy
ANS the renewal premium is calculated on the basis of the insured's attained age
15. D owns a Whole Life policy that was purchased 10 years ago.
If the premium payments suddenly stop and D takes no additional
action, which Nonforfeiture Option will the insurer likely proceed with?
ANS extended term
16. In Florida, which employee is eligible for an employer's
group term life plan?
ANS employee who works more than 40 hours per week
17. which of the following statements is correct regarding an
employer/employ- ee group health plan
, ANS the employer receives a master policy and the employees receive certificates
18. all of the following statements regarding a tax sheltered
annuity (tsa) are true except
ANS income derived from the tsa is received income tax free
19. How would a contingent beneficiary receive the policy
proceeds in an Acci- dental Death and Dismemberment (AD&D) policy?
ANS if the primary beneficiary dies before the insured
20. A student pilot can pay regular premium costs for her life
insurance policy with the addition of which of the following?
ANS aviation exclusion
21. which of these statements is incorrect regarding a preferred
provider orga- nization (ppo)?
ANS ppos are not a type of managed care systems
22. which of the following is considered an accurate statement of
an unfair trade practice?
ANS twisting involves an agent using misrepresentation to convince a policyowner to cancel their
current policy so that they can purchase a new life insurance policy with another company
23. what is floridas definition of life insurance replacement
ANS a transaction in which a new policy is bought and an old policy is terminated
24. a sole proprietor may use this plan only if the employees of
Simulator Questions and Answers
1. what is considered to be a characteristic of an immediate annuity
ANS benefit payments start within one payment period of purchase
2. which of these characteristics is consistent with a straight life policy
ANS premiums are payable for as long as there is insurance coverage in force
3. an insureds inability to perform two or more activities of daily
living may trigger which type of life policy rider
ANS long term care
4. B recently died and was insured with a life insurance policy for over
five years. During the claims process, the insurer discovered that B
had understated his age by 5 years at the time of application. In this
situation, the insurer will
ANS pay the amount that the premium would have purchased at the correct age
5. what action can a policyowner take if an application for a bank
loan requires collateral
ANS assign policy ownership to the bank
6. what is required in the Florida Employee Health Care Access Act
,ANS small group benefit plans are to be issued on a guarantee issue basis
7. P is a forty year old woman and would like to purchase an annuity
that will provide a lifetime income stream beginning at age sixty.
Which of the following did she NOT buy?
ANS an immediate annuity
8. the situation in which a group of physicians are salaried
employees and conduct business in an hmo facility is called
ANS closed panel
9. T sends proof of loss to her insurer for an acceptable medical
expense claim under her individual Health Insurance policy. Upon
receipt, the insurer must pay the benefits
ANS immediately
10. an application
for medicare supplement coverage may not be denied by the
insurer if the application was submitted within month(s) after
the applicant reaches the age 65
ANS six
11. when a policyowner cash surrenders a universal life
insurance policy in its early years, this may be considered a red flag for
a(n)
,ANS anti money laundering violation
12. When is a Group Health policy required to provide coverage
for a newborn child?
ANS at the moment of birth
13. which of the following situations does not apply to the
florida replacement rule
ANS an existing policyholder purchases an additional policy from the same insurer
14. under a renewable term policy
ANS the renewal premium is calculated on the basis of the insured's attained age
15. D owns a Whole Life policy that was purchased 10 years ago.
If the premium payments suddenly stop and D takes no additional
action, which Nonforfeiture Option will the insurer likely proceed with?
ANS extended term
16. In Florida, which employee is eligible for an employer's
group term life plan?
ANS employee who works more than 40 hours per week
17. which of the following statements is correct regarding an
employer/employ- ee group health plan
, ANS the employer receives a master policy and the employees receive certificates
18. all of the following statements regarding a tax sheltered
annuity (tsa) are true except
ANS income derived from the tsa is received income tax free
19. How would a contingent beneficiary receive the policy
proceeds in an Acci- dental Death and Dismemberment (AD&D) policy?
ANS if the primary beneficiary dies before the insured
20. A student pilot can pay regular premium costs for her life
insurance policy with the addition of which of the following?
ANS aviation exclusion
21. which of these statements is incorrect regarding a preferred
provider orga- nization (ppo)?
ANS ppos are not a type of managed care systems
22. which of the following is considered an accurate statement of
an unfair trade practice?
ANS twisting involves an agent using misrepresentation to convince a policyowner to cancel their
current policy so that they can purchase a new life insurance policy with another company
23. what is floridas definition of life insurance replacement
ANS a transaction in which a new policy is bought and an old policy is terminated
24. a sole proprietor may use this plan only if the employees of
