FLORIDA 2-15 INSURANCE LICENSE EXAM
WITH ANSWERS
Accumulation units are converted into annuity units: -
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. - 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
WITH ANSWERS
Accumulation units are converted into annuity units: -
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. - 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
