Florida 2-15 Insurance License Exam-Actual Exam Questions and Answers, 100% Verified-Updated 2023/2024

Florida 2 -15 Insurance License Exam -Actual Exam Questions and Answers, 100% Verified -Updated 2023/2024 Accumulation units are converted into annuity units: at the time of annuity payout. A group life insurance plan in which the employer pays the entire premium is known as a ________________ plan. noncontributory If a disabled worker covered under Social Security disability benefits recovers and then is disabled again within five years, a n ew waiting period is required before benefits begin again. FALSE Robert had an accident and qualified for Social Security disability. Given the waiting period, when will Robert begin to receive benefits? After 5 months The Insuring Clause includes all of t he following EXCEPT the beneficiary Mutualization occurs when a stock company turns to a __________ company. mutual To provide a safeguard for insureds, most major medical policies contain a ____________ feature that limits the insured's out -of-pocket expe nses. 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? 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. 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. FALSE Which statement is CORRECT about the Department of Financial Services' right to examine an agent's records? An examination can be conducted at any time to discover any unfair trade practices. Bill g ives Jim a couple of tickets to a Florida Gators game to thank him for purchasing a policy. This is an example of: rebating ____________ term insurance provides a level amount of protection for a specified period, after which the policy expires. Level Business overhead expense (B.O.E.) insurance does not provide benefits to cover the business owner's salary. TRUE Level, decreasing, and increasing insurance are all basic forms of ____________ insurance. term Hospice services are covered under Medicare Pa rt A. TRUE Under Florida law, group health insurers must offer mental and nervous disorder insurance to policyowners. TRUE Deductibles under a group major medical plan usually run from $250 to $500; whereas individual health plans usually run from: $1,000 plus. Every HMO subscriber must receive a benefits package that includes a copy of the HMO contract and certificate, and: a member's handbook. A life insurance policy will not be reinstated if it has been: surrendered for its cash value. Which of the follo wing is NOT a type of permanent life insurance? Term Life In Florida, a ______________ must sign for and on behalf of a minor purchasing life insurance. parent or legal guardian When an agent spreads a false story that damages a competing agent's reputatio n, the offense is called: defamation __________ is when policy values of an insurance policy are used to purchase another policy with the same insurer for the sole purpose of earning additional premiums or commissions. Churning Once an organization has fil ed an application to conduct insurance business, the Office of Insurance Regulation will begin its review for issuing a(n): Certificate of Authority Florida law requires health insurance policies and HMO contracts to provide coverage for all medically nece ssary equipment, supplies and services used to treat diabetes when the patient's physician certifies that they are medically necessary. TRUE