214 Florida Insurance Exam Final Study
Guide Questions and Answers Verified
Solutions Latest Update 2026/2027
Answer:
noncontributory
■ If a disabled worker covered under Social Security disability benefits recovers and then is
disabled again within five years, a new waiting period is required before benefits begin again.
Answer:
FALSE
■ 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
■ The Insuring Clause includes all of the following EXCEPT the
Answer:
beneficiary
■ Mutualization occurs when a stock company turns to a __________ company.
Answer:
mutual
■ 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
■ Tom is a newly appointed life, health and variable annuity agent with Acme Insurance Agency.
He is writing his first insurance policy on his brother-in-law's life. Who does Tom legally represent
,in this transaction?
Answer:
Acme Insurance Agency
■ An insurance clause is a distinct article in a formal document that establishes the rules in the
contract that _____________________ must adhere to.
Answer:
both the insurer and the insured
■ "ACC" refers to the type of disability that prevents someone from performing the job he was
performing prior to the disability.
Answer:
FALSE
■ 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.
■ Bill gives Jim a couple of tickets to a Florida Gators game to thank him for purchasing a policy.
This is an example of:
Answer:
rebating
■ ____________ term insurance provides a level amount of protection for a specified period, after
which the policy expires.
Answer:
Level
■ Business overhead expense (B.O.E.) insurance does not provide benefits to cover the business
owner's salary.
Answer:
, TRUE
■ Level, decreasing, and increasing insurance are all basic forms of ____________ insurance.
Answer:
term
■ Hospice services are covered under Medicare Part A.
Answer:
TRUE
■ Under Florida law, group health insurers must offer mental and nervous disorder insurance to
policyowners.
Answer:
TRUE
■ Deductibles under a group major medical plan usually run from $250 to $500; whereas
individual health plans usually run from:
Answer:
$1,000 plus.
■ Every HMO subscriber must receive a benefits package that includes a copy of the HMO
contract and certificate, and:
Answer:
a member's handbook.
■ A life insurance policy will not be reinstated if it has been:
Answer:
surrendered for its cash value.
■ Which of the following is NOT a type of permanent life insurance?
Answer:
Term Life
■ In Florida, a ______________ must sign for and on behalf of a minor purchasing life insurance.
Guide Questions and Answers Verified
Solutions Latest Update 2026/2027
Answer:
noncontributory
■ If a disabled worker covered under Social Security disability benefits recovers and then is
disabled again within five years, a new waiting period is required before benefits begin again.
Answer:
FALSE
■ 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
■ The Insuring Clause includes all of the following EXCEPT the
Answer:
beneficiary
■ Mutualization occurs when a stock company turns to a __________ company.
Answer:
mutual
■ 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
■ Tom is a newly appointed life, health and variable annuity agent with Acme Insurance Agency.
He is writing his first insurance policy on his brother-in-law's life. Who does Tom legally represent
,in this transaction?
Answer:
Acme Insurance Agency
■ An insurance clause is a distinct article in a formal document that establishes the rules in the
contract that _____________________ must adhere to.
Answer:
both the insurer and the insured
■ "ACC" refers to the type of disability that prevents someone from performing the job he was
performing prior to the disability.
Answer:
FALSE
■ 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.
■ Bill gives Jim a couple of tickets to a Florida Gators game to thank him for purchasing a policy.
This is an example of:
Answer:
rebating
■ ____________ term insurance provides a level amount of protection for a specified period, after
which the policy expires.
Answer:
Level
■ Business overhead expense (B.O.E.) insurance does not provide benefits to cover the business
owner's salary.
Answer:
, TRUE
■ Level, decreasing, and increasing insurance are all basic forms of ____________ insurance.
Answer:
term
■ Hospice services are covered under Medicare Part A.
Answer:
TRUE
■ Under Florida law, group health insurers must offer mental and nervous disorder insurance to
policyowners.
Answer:
TRUE
■ Deductibles under a group major medical plan usually run from $250 to $500; whereas
individual health plans usually run from:
Answer:
$1,000 plus.
■ Every HMO subscriber must receive a benefits package that includes a copy of the HMO
contract and certificate, and:
Answer:
a member's handbook.
■ A life insurance policy will not be reinstated if it has been:
Answer:
surrendered for its cash value.
■ Which of the following is NOT a type of permanent life insurance?
Answer:
Term Life
■ In Florida, a ______________ must sign for and on behalf of a minor purchasing life insurance.
