Chapter 11: Florida Statutes, Rules, and Regulations Pertinent to Life Insurance Exam Questions & Answers | 100% Correct

Chapter 11: Florida Statutes, Rules, and Regulations Pertinent to Life Insurance Exam Questions & Answers | 100% Correct Which of the following dates must be contained in a policy summary - Answer ️️ -The date the summary was prepared When replacing life insurance, the duties of the replacing insurance company include all of the following EXCEPT - Answer ️️ -Maintaining a copy of the Notice Regarding Replacement and all sales proposals used for at least 5 years Who does the secondary addressee provision protect - Answer ️️ -The insured over the age of 64. All advertisements are the responsibility of the - Answer ️️ -insurer What is the maximum allowed value of promotional gifts that an agent may give to a prospective insured - Answer ️️ -$100 Can a group that is formed for the sole purpose of obtaining group insurance qualify for group coverage - Answer ️️ -No, the group must be formed for a purpose other than obtaining group insurance Which of the following documents must be provided to the policyowner or applicant during policy replacement - Answer ️️ -Notice Regarding Replacement In order for a debtor group to qualify for group life insurance, what should be the minimum number of participants joining the plan every year - Answer ️️ -100 Which of the following insurance products will be subjected to the regulation on life insurance solicitaiton - Answer ️️ -A term life policy A person insured under a group life insurance policy can make an assignment of all or any part of the incidents of ownership conferred on the insured by the policy or by law, to any of the following except - Answer ️️ -The policyholder Certificates of coveraged are issued to - Answer ️️ -Participants in a group plan What is the purpose of a disclosure statement in life insurance policies - Answer ️️ -To explain features and benefits of a proposed policy to the consumer