Florida Life & Health Practice Test Questions and Answers Already Passed

Florida Life & Health Practice Test Questions and Answers Already Passed T and S are named co-primary beneficiaries on a $500,000 Accidental Death and Dismemberment policy insuring their father. Their mother was named contingent beneficiary. Five years later, S dies of natural causes and the father is killed in a scuba accident shortly afterwards. How much of the death benefit will the mother receive? $0 Which statement regarding the Change of Beneficiary provision is true? The policyowner can change the beneficiary What is the underlying concept regarding level premiums? The early years are charged more than what is needed C is trying to determine whether to convert her convertible term life policy to whole life insurance using her original age or attained age. What factor would affect her decision the most? The cost If the insured and primary beneficiary are both killed in the same accident and it cannot be determined who died first, where are the death proceeds to be directed under the Uniform Simultaneous Death Act? Insured's contingent beneficiary On a life insurance policy, who is qualified to change the beneficiary designation? Policyowner A policyowner is allowed to pay premiums more than once a year under which provision? Mode of Premium A life insurance application must be signed by all of these EXCEPT Beneficiary Any changes made on an insurance application requires the initials of whom? Applicant Which Federal law allows an insurer to obtain an inspection report on a potential insured? Fair Credit Reporting Act All of these are considered sources of underwriting information about an applicant EXCEPT Rating Services K applies for a life insurance policy on herself and submits the initial premium with the application. She is given a receipt by the agent stating that coverage begins immediately if the application is approved. What kind of receipt was used? Conditional P is a producer who notices 5 questions on a life application were not answered. What actions should P take? Set up a meeting with the applicant to answer the remaining questions An underwriter determines that an applicant's risk should be recategorized due to a health issue. This life insurance policy may be issued with a(n) extra premium In order for coverage on a non-medical insurance application to take effect the same day, the producer must collect a signed application and the initial premium When does a life insurance contract become effective if the initial premium is not collected during the application process? When pr