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FLORIDA 2-15 INSURANCE LICENSE
EXAM 2026|ACTUAL QUESTIONS
WITH ANSWERS
A medical expense policy states that it will pay a flat $200 a day for each day of
hospitalization. The policy pays benefits on what basis? - correct-answer -
Indemnity
Basic Medical Expense insurance limits coverage to specific types of medical care.
- correct-answer - TRUE
A _____________ group involves combining several parties into a group for the
purpose of obtaining insurance. - correct-answer - fictitious
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The ____________________ Act mandated once and for all that insurance would
be regulated by the states. - correct-answer - McCarran-Ferguson
The type of annuity that provides a guaranteed rate of return is called a variable
annuity. - correct-answer - FALSE
Mathew purchased an annuity naming his wife, Cher, beneficiary. Upon Mathew's
death, Cher will receive the proceeds: - correct-answer - taxed as ordinary income
above Mathew's cost basis.
Policy reserves are the intangible amounts set aside by the _____________ out of
the insurer's assets at the beginning of the policy period. - correct-answer -
insurer
SIMPLE plans can be structured as an IRA or a 401(k). - correct-answer - TRUE
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A complete examination of an HMO's affairs is conducted at least: - correct-
answer - once every five years.
A portion of a mutual insurer's premiums are paid out as policy dividends and are
considered: - correct-answer - refunds
COBRA provides health benefit extensions for ____________ after employment is
terminated. - correct-answer - 18 months
Which of the following expenses would NOT be covered under a Business
Overhead Expense policy? - correct-answer - Owner's salary
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Complete this sentence: "Typically, the shorter the premium-paying period, the
_________________." - correct-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. - correct-answer - 60
Which of the following best describes the basic principal of group insurance? -
correct-answer - It provides coverage for a number of people under a single
contract.
Under the surgical schedule method of a basic medical expense plan, every
procedure: - correct-answer - is assigned a dollar amount by the insurer.
FLORIDA 2-15 INSURANCE LICENSE
EXAM 2026|ACTUAL QUESTIONS
WITH ANSWERS
A medical expense policy states that it will pay a flat $200 a day for each day of
hospitalization. The policy pays benefits on what basis? - correct-answer -
Indemnity
Basic Medical Expense insurance limits coverage to specific types of medical care.
- correct-answer - TRUE
A _____________ group involves combining several parties into a group for the
purpose of obtaining insurance. - correct-answer - fictitious
,2|Page
The ____________________ Act mandated once and for all that insurance would
be regulated by the states. - correct-answer - McCarran-Ferguson
The type of annuity that provides a guaranteed rate of return is called a variable
annuity. - correct-answer - FALSE
Mathew purchased an annuity naming his wife, Cher, beneficiary. Upon Mathew's
death, Cher will receive the proceeds: - correct-answer - taxed as ordinary income
above Mathew's cost basis.
Policy reserves are the intangible amounts set aside by the _____________ out of
the insurer's assets at the beginning of the policy period. - correct-answer -
insurer
SIMPLE plans can be structured as an IRA or a 401(k). - correct-answer - TRUE
,3|Page
A complete examination of an HMO's affairs is conducted at least: - correct-
answer - once every five years.
A portion of a mutual insurer's premiums are paid out as policy dividends and are
considered: - correct-answer - refunds
COBRA provides health benefit extensions for ____________ after employment is
terminated. - correct-answer - 18 months
Which of the following expenses would NOT be covered under a Business
Overhead Expense policy? - correct-answer - Owner's salary
, 4|Page
Complete this sentence: "Typically, the shorter the premium-paying period, the
_________________." - correct-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. - correct-answer - 60
Which of the following best describes the basic principal of group insurance? -
correct-answer - It provides coverage for a number of people under a single
contract.
Under the surgical schedule method of a basic medical expense plan, every
procedure: - correct-answer - is assigned a dollar amount by the insurer.
