FLORIDA 2 15 INSURANCE FINAL 2026 LIFE AND
HEALTH COVERAGE EXAM PAPER AND
SOLUTIONS
◉ 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
HEALTH COVERAGE EXAM PAPER AND
SOLUTIONS
◉ 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
