1
FLORIDA 2-15 INSURANCE
LICENSE EXAM QUESTIONS WITH
CORRECT SOLUTIONS
Accumulation units are converted into annuity units: - correct-answer - at the
time of annuity payout.
A group life insurance plan in which the employer pays the entire premium is
known as a ________________ plan. - correct-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. - correct-answer - FALSE
Robert had an accident and qualified for Social Security disability. Given the
waiting period, when will Robert begin to receive benefits? - correct-answer -
After 5 months
The Insuring Clause includes all of the following EXCEPT the - correct-answer -
beneficiary
, 2
Mutualization occurs when a stock company turns to a __________ company. -
correct-answer - mutual
To provide a safeguard for insureds, most major medical policies contain a
____________ feature that limits the insured's out-of-pocket expenses. - correct-
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? - correct-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. - correct-
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. - correct-answer - FALSE
Insurance is a contract of: - correct-answer - utmost good faith.
The Deficit Reduction Act gives governors more flexibility to design
_____________ benefits that efficiently and affordably meet their states' needs. -
correct-answer - Medicaid
, 3
The health policy that always renews without an increase of premium could be
identified as: - correct-answer - noncancelable
__________________ are the two most important factors in the health insurance
underwriting process. - correct-answer - Medical history and occupation
Which of the following is TRUE about a Limited Pay Whole Life policy? - correct-
answer - Provides level premiums limited to certain time period, less than life
In Florida, a child must be at least ____ years of age to sign a life insurance
application. - correct-answer - 15
The ________________ means that the life insurance policy along with the
application represents the complete contract. - correct-answer - Entire Contract
provision
A man commits suicide 30 months after purchasing a life insurance policy and his
wife is the named beneficiary. What amount will his wife receive? - correct-
answer - The face amount of the policy
Which type of insurer insures groups of individuals who are of the same class? -
correct-answer - Risk Retention Groups
FLORIDA 2-15 INSURANCE
LICENSE EXAM QUESTIONS WITH
CORRECT SOLUTIONS
Accumulation units are converted into annuity units: - correct-answer - at the
time of annuity payout.
A group life insurance plan in which the employer pays the entire premium is
known as a ________________ plan. - correct-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. - correct-answer - FALSE
Robert had an accident and qualified for Social Security disability. Given the
waiting period, when will Robert begin to receive benefits? - correct-answer -
After 5 months
The Insuring Clause includes all of the following EXCEPT the - correct-answer -
beneficiary
, 2
Mutualization occurs when a stock company turns to a __________ company. -
correct-answer - mutual
To provide a safeguard for insureds, most major medical policies contain a
____________ feature that limits the insured's out-of-pocket expenses. - correct-
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? - correct-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. - correct-
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. - correct-answer - FALSE
Insurance is a contract of: - correct-answer - utmost good faith.
The Deficit Reduction Act gives governors more flexibility to design
_____________ benefits that efficiently and affordably meet their states' needs. -
correct-answer - Medicaid
, 3
The health policy that always renews without an increase of premium could be
identified as: - correct-answer - noncancelable
__________________ are the two most important factors in the health insurance
underwriting process. - correct-answer - Medical history and occupation
Which of the following is TRUE about a Limited Pay Whole Life policy? - correct-
answer - Provides level premiums limited to certain time period, less than life
In Florida, a child must be at least ____ years of age to sign a life insurance
application. - correct-answer - 15
The ________________ means that the life insurance policy along with the
application represents the complete contract. - correct-answer - Entire Contract
provision
A man commits suicide 30 months after purchasing a life insurance policy and his
wife is the named beneficiary. What amount will his wife receive? - correct-
answer - The face amount of the policy
Which type of insurer insures groups of individuals who are of the same class? -
correct-answer - Risk Retention Groups
