Florida Insurance License Exam Newest Questions With Verified Answers

Which action will the insurance company most likely NOT take if the applicant has Diabetes and applies for a Disabiility Income policy? - ANSWER-Issue the policy with an altered Time of Payment of Claims Which is NOT a legal entity for selling life insurance in Florida? - ANSWER-Risk Management Advisors do not qualify Percentage of an individual's Primary Insurance Amount (PIA) determines the benefits are paid in which program? - ANSWER-Social Security Disability Income The Insured and Insurance Company share the cost of covered losses under which health policy feature? - ANSWER-Payment of Claims T applied for a Disability Income policy and has a history of back injuries. The insurer issued the policy with a statement that excludes coverage for back injuries. This statement is called a(n) - ANSWER-Impairment Rider During the application process, the agent's primary responsibility is - ANSWER-The Insurance Company An accident policy will most likely pay a benefit for a(n) - ANSWER-Off the job accident Which renewability best describes a Disability Income policy that covers an individual until age 65, but the insurer has the right to change the premium rate for the overall risk class? - ANSWER-Guaranteed renewable specifies policy must be renewed (if premiums paid) until 65, with increasing premiums A CEOs personal assistant suffered injuries at home and is unable to work for 4 months, which policy will pay monthly benefits? - ANSWER-Disability Income Which statement about HRA is correct? - ANSWER-If the employee paid for Qualified Medical Expenses, reimbursements may be tax free Which coverage is short term? - ANSWER-Interim What rider is added to an Accident & Health policy if policyowner wants to ensure policy will continue if he becomes totally disabled? - ANSWER-Waiver of Premium Rider Group/voluntary long-term care policy premiums are typically deducted from the employee's income and - ANSWER-Less costly compared to individual long term care coverage T owns an Accident & Health policy and notifies her insurance company that she has chosen a less hazardous occupation. Under the Change of Occupation provision, which of the following actions may her insurance company take? - ANSWER-Increase the policy coverage amount Which mode of payment is NOT used by health insurance policies? - ANSWER-Single premium T has Disability Income policy that pays a monthly benefit of $5000. If T becomes partially disabled, what can he likely expect? - ANSWER-Less than $5000 a month S is employed by a large corporation that provides group health coverage for its employees and their dependents. If S dies, the company must allow his surviving spouse and dependents to continue their group health coverage for a minimum of how many months under COBRA regulations? - ANSWER-36 months T was treated for an ailment 2 months prior to applying for a health insurance policy. This condition was noted on the application and the policy was issued shortly afterwards. How will the insurer likely consider this condition? - ANSWER-Insurer will likely treat as a pre-existing condition which may not be covered for 1 year Which his NOT a limited benefit plan? - ANSWER-Life Insurance Policy With a medical discount plan, how often would a person generally pay a fee to get discounts on specific services? - ANSWER-Monthly Under which circumstances will the benefits under COBRA continuation coverage end? - ANSWER-One disqualifying event is when employer terminates all group health plans Z owns a Disability Income policy with a 30-day Elimination period. Z contracts pneumonia that leaves him unable to work from January 1 until January 15. Z then becomes disabled from an accident on February 1 and the disability lasts until July 1 the same year. Z will become eligible to receive benefits starting on - ANSWER-March 1 Elimination period is the time between onset of disability and the time eligible for benefits