FLORIDA 2 15 INSURANCE LICENSE EXAM 2 FINAL COMPREHENSIVE ASSESSMENT TEST PAPER QUESTIONS AND SOLUTIONS

FLORIDA 2 15 INSURANCE LICENSE EXAM 2
FINAL COMPREHENSIVE ASSESSMENT TEST
PAPER QUESTIONS AND SOLUTIONS

⩥ Which policy replaces lost income due to disability?
Answer: Disability income


⩥ Elimination period is best described as.
Answer: Waiting period before benefits


⩥ Which Medicare part covers hospital services.
Answer: Part A


⩥ Which is NOT a required provision in health policies.
Answer: Arbitration clause


⩥ Pre-existing condition provisions limit coverage for:.
Answer: Conditions before policy issue


⩥ A deductible is:.
Answer: Paid by insured

,⩥ Which plan allows the greatest freedom of provider choice?.
Answer: Indemnity


⩥ What is the primary purpose of annuities?.
Answer: Retirement income


⩥ During the accumulation phase, annuities grow:.
Answer: Tax-deferred


⩥ Which annuity guarantees a fixed return?.
Answer: Fixed


⩥ Annuitization means:.
Answer: Converting to income


⩥ Who bears investment risk in a variable annuity?.
Answer: Annuitant


⩥ How long is the Florida life insurance free-look period?.
Answer: 10 days

, ⩥ Twisting refers to:.
Answer: Policy replacement with misrepresentation


⩥ Rebating is:.
Answer: Illegal


⩥ An agent's license may be suspended for:.
Answer: Misrepresentation


⩥ Replacement regulations exist to:.
Answer: Protect consumers


⩥ Beneficiary designation that can't be changed without consent:.
Answer: Irrevocable


⩥ Which rider guarantees future purchase without proof of insurability?.
Answer: Guaranteed insurability


⩥ Group life insurance is typically:.
Answer: Convertible


⩥ Which policy pays benefits regardless of other coverage?.