Florida Insurance Exam
The clause identifying which losses resulting from an accident or
sickness are insured by the policy is called the: - ANSWER-Insuring
clause
K applies for a life insurance policy on herself and submits the initial
premium with the application. She is given a receipt by the agent
stating that coverage begins immediately if the application is approved.
What kind of receipt was used? - ANSWER-Conditional
A life insurance arrangement which circumvents insurable interest
statutes is called: - ANSWER-Investor-Originated Life Insurance
Which of the following health policy provisions states that the producer
does NOT have the authority to change the policy or waive any of its
provisions? - ANSWER-Entire Contract
Within how many days after policy delivery can a Medicare Supplement
policy be returned for a 100% premium refund? - ANSWER-30
Which of the following is NOT an unfair claim settlement practice? -
ANSWER-Needing written documentation of claim details
,Who is NOT required to sign a life insurance application? - ANSWER-
Beneficiary
To be eligible for Social Security disability benefits, an employee must
be unable to perform: - ANSWER-any occupation
The type of annuity that can be purchased with one monetary deposit is
called a(n): - ANSWER-Immediate annuity
A life insurance application must be signed by all of these, EXCEPT: -
ANSWER-beneficiary
Which of the following is considered an accurate statement of an unfair
trade practice? - ANSWER-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
The Accelerated Death Benefit provision in a life insurance policy is also
known as a(n): - ANSWER-Living Benefit
, Which of the following policy features allows an insured to defer
current health charges to the following year's deductible instead of the
current year's deducitble? - ANSWER-Carryover provision
Insurance policies are considered aleatory contracts because - ANSWER-
performance is conditioned upon a future occurrence
Within how many days must a licensee notify the Department of
Financial Services of a change in address? - ANSWER-30
Which organization was established to provide funds to protect an
insured in the event of an insurer's insolvency? - ANSWER-Florida Life
and Health Insurance Guaranty Association
The clause in an Accident and Health policy which defines the benefit
amounts the insurer will pay is called the: - ANSWER-Insuring clause
When a policyowner cash surrenders a Universal Life insurance policy in
it's early years, this may be considered a red flag for a(n): - ANSWER-
Anti-Money Laundering violation
According to the Time Payment of Claims provision, the insurer must
pay Disability Income benefits no less frequently than which of the
following options? - ANSWER-Monthly
The clause identifying which losses resulting from an accident or
sickness are insured by the policy is called the: - ANSWER-Insuring
clause
K applies for a life insurance policy on herself and submits the initial
premium with the application. She is given a receipt by the agent
stating that coverage begins immediately if the application is approved.
What kind of receipt was used? - ANSWER-Conditional
A life insurance arrangement which circumvents insurable interest
statutes is called: - ANSWER-Investor-Originated Life Insurance
Which of the following health policy provisions states that the producer
does NOT have the authority to change the policy or waive any of its
provisions? - ANSWER-Entire Contract
Within how many days after policy delivery can a Medicare Supplement
policy be returned for a 100% premium refund? - ANSWER-30
Which of the following is NOT an unfair claim settlement practice? -
ANSWER-Needing written documentation of claim details
,Who is NOT required to sign a life insurance application? - ANSWER-
Beneficiary
To be eligible for Social Security disability benefits, an employee must
be unable to perform: - ANSWER-any occupation
The type of annuity that can be purchased with one monetary deposit is
called a(n): - ANSWER-Immediate annuity
A life insurance application must be signed by all of these, EXCEPT: -
ANSWER-beneficiary
Which of the following is considered an accurate statement of an unfair
trade practice? - ANSWER-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
The Accelerated Death Benefit provision in a life insurance policy is also
known as a(n): - ANSWER-Living Benefit
, Which of the following policy features allows an insured to defer
current health charges to the following year's deductible instead of the
current year's deducitble? - ANSWER-Carryover provision
Insurance policies are considered aleatory contracts because - ANSWER-
performance is conditioned upon a future occurrence
Within how many days must a licensee notify the Department of
Financial Services of a change in address? - ANSWER-30
Which organization was established to provide funds to protect an
insured in the event of an insurer's insolvency? - ANSWER-Florida Life
and Health Insurance Guaranty Association
The clause in an Accident and Health policy which defines the benefit
amounts the insurer will pay is called the: - ANSWER-Insuring clause
When a policyowner cash surrenders a Universal Life insurance policy in
it's early years, this may be considered a red flag for a(n): - ANSWER-
Anti-Money Laundering violation
According to the Time Payment of Claims provision, the insurer must
pay Disability Income benefits no less frequently than which of the
following options? - ANSWER-Monthly
