Florida 2-15 Insurance License Exam Questions
and Answers
1.Accumulation units are converted into annuity units
Answer at the time of annuity payout.
2.A group life insurance plan in which the employer pays the entire
premium is known as a plan.
Answer noncontributory
3.If a disabled worker covered under Social Security disability benefits re-
covers and then is disabled again within five years, a new waiting period
is required before benefits begin again.
Answer FALSE
4.Robert had an accident and qualified for Social Security disability. Given
the waiting period, when will Robert begin to receive benefits?
Answer After 5 months
5.The Insuring Clause includes all of the following EXCEPT the
Answer beneficiary
6.Mutualization occurs when a stock company turns to a compa-
ny.
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,Answer mutual
7.To provide a safeguard for insureds, most major medical policies
contain a feature that limits the insured's out-of-pocket expenses.
Answer - stop-loss
8.Tom is a newly appointed life, health and variable annuity agent with
Acme Insurance Agency. He is writing his first insurance policy on his
broth- er-in-law's life. Who does Tom legally represent in this transaction?
Answer Acme Insurance Agency
9.An insurance clause is a distinct article in a formal document that
establish- es the rules in the contract that must adhere to.
Answer both the insurer and the insured
10."ACC" refers to the type of disability that prevents someone from
perform- ing the job he was performing prior to the disability.
Answer FALSE
11.Which statement is CORRECT about the Department of Financial
Services' right to examine an agent's records?
Answer An examination can be conducted at any time to discover any
unfair trade practices.
12.Bill gives Jim a couple of tickets to a Florida Gators game to thank him
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, for purchasing a policy. This is an example of
Answer rebating
13. term insurance provides a level amount of protection for
a specified period, after which the policy expires.
Answer Level
14.Business overhead expense (B.O.E.) insurance does not provide
benefits to cover the business owner's salary.
Answer TRUE
15.Level, decreasing, and increasing insurance are all basic forms of
insurance.
Answer term
16.Hospice services are covered under Medicare Part A.
Answer TRUE
17.Under Florida law, group health insurers must offer mental and
nervous disorder insurance to policyowners.
Answer TRUE
18.Deductibles under a group major medical plan usually run from $250 to
$500; whereas individual health plans usually run from
Answer $1,000 plus.
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and Answers
1.Accumulation units are converted into annuity units
Answer at the time of annuity payout.
2.A group life insurance plan in which the employer pays the entire
premium is known as a plan.
Answer noncontributory
3.If a disabled worker covered under Social Security disability benefits re-
covers and then is disabled again within five years, a new waiting period
is required before benefits begin again.
Answer FALSE
4.Robert had an accident and qualified for Social Security disability. Given
the waiting period, when will Robert begin to receive benefits?
Answer After 5 months
5.The Insuring Clause includes all of the following EXCEPT the
Answer beneficiary
6.Mutualization occurs when a stock company turns to a compa-
ny.
1/
25
,Answer mutual
7.To provide a safeguard for insureds, most major medical policies
contain a feature that limits the insured's out-of-pocket expenses.
Answer - stop-loss
8.Tom is a newly appointed life, health and variable annuity agent with
Acme Insurance Agency. He is writing his first insurance policy on his
broth- er-in-law's life. Who does Tom legally represent in this transaction?
Answer Acme Insurance Agency
9.An insurance clause is a distinct article in a formal document that
establish- es the rules in the contract that must adhere to.
Answer both the insurer and the insured
10."ACC" refers to the type of disability that prevents someone from
perform- ing the job he was performing prior to the disability.
Answer FALSE
11.Which statement is CORRECT about the Department of Financial
Services' right to examine an agent's records?
Answer An examination can be conducted at any time to discover any
unfair trade practices.
12.Bill gives Jim a couple of tickets to a Florida Gators game to thank him
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25
, for purchasing a policy. This is an example of
Answer rebating
13. term insurance provides a level amount of protection for
a specified period, after which the policy expires.
Answer Level
14.Business overhead expense (B.O.E.) insurance does not provide
benefits to cover the business owner's salary.
Answer TRUE
15.Level, decreasing, and increasing insurance are all basic forms of
insurance.
Answer term
16.Hospice services are covered under Medicare Part A.
Answer TRUE
17.Under Florida law, group health insurers must offer mental and
nervous disorder insurance to policyowners.
Answer TRUE
18.Deductibles under a group major medical plan usually run from $250 to
$500; whereas individual health plans usually run from
Answer $1,000 plus.
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25
