FLORIDA 2 15 INSURANCE LICENSE EXAM 2
END OF COURSE STUDY GUIDE LATEST
UPDATED ACTUAL TESTED QUESTIONS
AND CORRECT ANSWERS
⩥ Social Security Welfare Benefits for All Citizens
Answer: False
⩥ Incontestable Clause
Answer: Policy is incontestable after two years
⩥ Medical Expense Policy
Answer: Pays flat $200 a day for hospitalization - Indemnity
⩥ Basic Medical Expense Insurance
Answer: Limits coverage to specific medical care - TRUE
⩥ Fictitious Group
Answer: Combining parties for insurance purposes
⩥ McCarran-Ferguson Act
,Answer: Regulated insurance by states
⩥ Variable Annuity
Answer: Does not provide guaranteed rate of return - FALSE
⩥ Annuity Beneficiary
Answer: Proceeds taxed as ordinary income above cost basis
⩥ Policy Reserves
Answer: Set aside by insurer at beginning of policy period
⩥ SIMPLE Plans
Answer: Can be structured as IRA or 401(k) - TRUE
⩥ HMO Examination
Answer: Conducted at least once every five years
⩥ A Portion of a Mutual Insurer's Premiums Are Paid Out as Policy
Dividends and Are Considered:
Answer: Refunds
, ⩥ COBRA Provides Health Benefit Extensions for ____________ After
Employment Is Terminated.
Answer: 18 Months
⩥ Which of the Following Expenses Would NOT Be Covered Under a
Business Overhead Expense Policy?
Answer: Owner's Salary
⩥ Complete This Sentence: 'Typically, the Shorter the Premium-Paying
Period, the ________________.'
Answer: Higher the Premium.
⩥ Florida Statutes Require Licensees to Notify the Department in
Writing Within _____ Days After a Change of Name, Residence
Address, Principal Business Street Address, or Mailing Address.
Answer: 60
⩥ Which of the Following Best Describes the Basic Principal of Group
Insurance?
Answer: It Provides Coverage for a Number of People Under a Single
Contract.
END OF COURSE STUDY GUIDE LATEST
UPDATED ACTUAL TESTED QUESTIONS
AND CORRECT ANSWERS
⩥ Social Security Welfare Benefits for All Citizens
Answer: False
⩥ Incontestable Clause
Answer: Policy is incontestable after two years
⩥ Medical Expense Policy
Answer: Pays flat $200 a day for hospitalization - Indemnity
⩥ Basic Medical Expense Insurance
Answer: Limits coverage to specific medical care - TRUE
⩥ Fictitious Group
Answer: Combining parties for insurance purposes
⩥ McCarran-Ferguson Act
,Answer: Regulated insurance by states
⩥ Variable Annuity
Answer: Does not provide guaranteed rate of return - FALSE
⩥ Annuity Beneficiary
Answer: Proceeds taxed as ordinary income above cost basis
⩥ Policy Reserves
Answer: Set aside by insurer at beginning of policy period
⩥ SIMPLE Plans
Answer: Can be structured as IRA or 401(k) - TRUE
⩥ HMO Examination
Answer: Conducted at least once every five years
⩥ A Portion of a Mutual Insurer's Premiums Are Paid Out as Policy
Dividends and Are Considered:
Answer: Refunds
, ⩥ COBRA Provides Health Benefit Extensions for ____________ After
Employment Is Terminated.
Answer: 18 Months
⩥ Which of the Following Expenses Would NOT Be Covered Under a
Business Overhead Expense Policy?
Answer: Owner's Salary
⩥ Complete This Sentence: 'Typically, the Shorter the Premium-Paying
Period, the ________________.'
Answer: Higher the Premium.
⩥ Florida Statutes Require Licensees to Notify the Department in
Writing Within _____ Days After a Change of Name, Residence
Address, Principal Business Street Address, or Mailing Address.
Answer: 60
⩥ Which of the Following Best Describes the Basic Principal of Group
Insurance?
Answer: It Provides Coverage for a Number of People Under a Single
Contract.
