FLORIDA 2-15 INSURANCE LICENSE EXAM 2026 LATEST
UPDATE QUESTIONS AND CORRECT VERIFIED ANSWES
ALREADY GRADED A+
If a life insurance applicant is given a conditional receipt, what is the effective date of coverage?
- ANS-The time the insurer accepts the application and issues the policy
Service providers contract for and sell medical and hospital: - ANS-care services.
_______________ policies are commonly used as a hedge against inflation to ward off
decreased purchasing power. - ANS-Increasing term
Toni decides to take a special vacation on her 40th birthday and withdraws $4,000 from her IRA.
What penalty will she be subject to on the amount withdrawn? - ANS-$400
An immediate annuity is designed to provide income: - ANS-Immediately.
Henry has a Life with Period Certain annuity (life or ten years) in which is wife, Harriet, is
beneficiary. If Henry dies after 5 years, what will Harriet receive? - ANS-Payments for the
remaining five years
Buy-sell agreements can only be drafted by: - ANS-an attorney.
HMOs and PPOs are required under Florida law to provide members direct access to which of
the following? - ANS-All - Dermatologists and chiropractors, optometrists and OB
gynecologists, and podiatrists
,Insurance is a contract of: - ANS-utmost good faith.
The Deficit Reduction Act gives governors more flexibility to design _____________ benefits
that efficiently and affordably meet their states' needs. - ANS-Medicaid
The health policy that always renews without an increase of premium could be identified as: -
ANS-noncancelable
__________________ are the two most important factors in the health insurance underwriting
process. - ANS-Medical history and occupation
Which of the following is TRUE about a Limited Pay Whole Life policy? - ANS-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. - ANS-15
The ________________ means that the life insurance policy along with the application
represents the complete contract. - ANS-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? - ANS-The face amount of the policy
Which type of insurer insures groups of individuals who are of the same class? - ANS-Risk
Retention Groups
Rachel owns a major medical health policy which requires her to pay the first $300 of covered
expenses each year before the policy pays its benefits. The $300 is the policy's: - ANS-
deductible
, Self-insuring is an example of what type of risk? - ANS-Risk Retention
When might a Statement of Continued Good Health be required regarding a life insurance
policy? - ANS-When there is no premium accompanying the application
Changing one's lifestyle to minimize a known risk is an example of: - ANS-Risk Reduction.
A health plan with a $5-per-point conversion factor would pay _______ for a 200-point
procedure. - ANS-$1,000
The disadvantage of naming an estate as beneficiary is that proceeds will be included in the
insured's: - ANS-estate
All statements made on an application are considered ________________ because there can be
no guarantee that they are true. - ANS-representations
Which of the following is NOT a typical permanent exclusion in life insurance policies? - ANS-
Suicide
___________ refers to the monies set aside by insurers for future claims costs. - ANS-Reserve
funds
Does Florida law specify what an insurer must do if an applicant indicates that a variable
annuity would be the sole source of retirement income for the applicant? - ANS-NO
Medicare patients have a lifetime reserve of ________ days of hospital coverage. - ANS-60
UPDATE QUESTIONS AND CORRECT VERIFIED ANSWES
ALREADY GRADED A+
If a life insurance applicant is given a conditional receipt, what is the effective date of coverage?
- ANS-The time the insurer accepts the application and issues the policy
Service providers contract for and sell medical and hospital: - ANS-care services.
_______________ policies are commonly used as a hedge against inflation to ward off
decreased purchasing power. - ANS-Increasing term
Toni decides to take a special vacation on her 40th birthday and withdraws $4,000 from her IRA.
What penalty will she be subject to on the amount withdrawn? - ANS-$400
An immediate annuity is designed to provide income: - ANS-Immediately.
Henry has a Life with Period Certain annuity (life or ten years) in which is wife, Harriet, is
beneficiary. If Henry dies after 5 years, what will Harriet receive? - ANS-Payments for the
remaining five years
Buy-sell agreements can only be drafted by: - ANS-an attorney.
HMOs and PPOs are required under Florida law to provide members direct access to which of
the following? - ANS-All - Dermatologists and chiropractors, optometrists and OB
gynecologists, and podiatrists
,Insurance is a contract of: - ANS-utmost good faith.
The Deficit Reduction Act gives governors more flexibility to design _____________ benefits
that efficiently and affordably meet their states' needs. - ANS-Medicaid
The health policy that always renews without an increase of premium could be identified as: -
ANS-noncancelable
__________________ are the two most important factors in the health insurance underwriting
process. - ANS-Medical history and occupation
Which of the following is TRUE about a Limited Pay Whole Life policy? - ANS-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. - ANS-15
The ________________ means that the life insurance policy along with the application
represents the complete contract. - ANS-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? - ANS-The face amount of the policy
Which type of insurer insures groups of individuals who are of the same class? - ANS-Risk
Retention Groups
Rachel owns a major medical health policy which requires her to pay the first $300 of covered
expenses each year before the policy pays its benefits. The $300 is the policy's: - ANS-
deductible
, Self-insuring is an example of what type of risk? - ANS-Risk Retention
When might a Statement of Continued Good Health be required regarding a life insurance
policy? - ANS-When there is no premium accompanying the application
Changing one's lifestyle to minimize a known risk is an example of: - ANS-Risk Reduction.
A health plan with a $5-per-point conversion factor would pay _______ for a 200-point
procedure. - ANS-$1,000
The disadvantage of naming an estate as beneficiary is that proceeds will be included in the
insured's: - ANS-estate
All statements made on an application are considered ________________ because there can be
no guarantee that they are true. - ANS-representations
Which of the following is NOT a typical permanent exclusion in life insurance policies? - ANS-
Suicide
___________ refers to the monies set aside by insurers for future claims costs. - ANS-Reserve
funds
Does Florida law specify what an insurer must do if an applicant indicates that a variable
annuity would be the sole source of retirement income for the applicant? - ANS-NO
Medicare patients have a lifetime reserve of ________ days of hospital coverage. - ANS-60
