©SOPHIABENNETT@2024-2025 Monday, August 26, 2024 6:09 AM
XCEL FL TEST STUDY GUIDE WITH
COMPLETE SOLUTIONS
Which of the following types of health coverage frequently uses a
deductible? - Answer✔️✔️-Major Medical policy
What kind of Accidental Death and Dismemberment (AD&D) insurance
beneficiary requires his/her consent when a change of beneficiary is made?
- Answer✔️✔️-Irrevocable beneficiary
If a 10-Year Term Life policy contains a Renewability provision, the policy
will renew - Answer✔️✔️-without evidence of insurability
Under Florida law, a variable annuity policyowner must be notified of
accumulated value of the contract - Answer✔️✔️-once a year
Within how many days after policy delivery can a Medicare Supplement
policy be returned for a 100% premium refund? - Answer✔️✔️-30
During the course of an insurance transaction, if an agent makes a false or
incomplete statement, he/she could be found guilty of - Answer✔️✔️-
misrepresentation
Accidental Death coverage is provided to commercial airline passengers in
which of the following types of policies? - Answer✔️✔️-Blanket Accident
policy
1
, ©SOPHIABENNETT@2024-2025 Monday, August 26, 2024 6:09 AM
An IRA owner can start making withdrawals and NOT be subjected to a
tax penalty beginning at what age? - Answer✔️✔️-59 1/2
According to the Mandatory Uniform Policy Provisions, what is the
maximum amount of time after the premium due date during which the
policy remains in force even though the premium has not been paid? -
Answer✔️✔️-31 days
A licensed agent must be appointed by an insurance company to solicit
insurance in Florida. The agent's license will terminate if a certain period of
time elapses without being appointed. How long is this period of time? -
Answer✔️✔️-48 months
A Life insurance policyowner would like to take out a policy loan against
the cash value in his Whole Life policy. The interest rate applied to this
loan may vary over time. This is referred to as a(n) _______ rate loan. -
Answer✔️✔️-Variable
Which of these provisions require proof of insurability after a policy has
lapsed? - Answer✔️✔️-Reinstatement
What is the purpose of the Insurance Guaranty Fund Association? -
Answer✔️✔️-Protects policyowners against insolvent insurance companies
Which of the following is considered an accurate statement of an unfair
trade practice? - Answer✔️✔️-Twisting involves an agent using
misrepresentation to convince a policyowner to cancel their current policy
2
, ©SOPHIABENNETT@2024-2025 Monday, August 26, 2024 6:09 AM
so that they can purchases a new life insurance policy with another
company
Nursing home benefits must be provided for at least 12 consecutive months
in which of the following types of policies? - Answer✔️✔️-Long-Term Care
According to Florida law, a Group Life insurance policy requires a
minimum of how many insureds? - Answer✔️✔️-No minimum
Life and health insurance policies are: - Answer✔️✔️-Unilateral contracts
An agent that sells ______ Life insurance MUST be registered with the
Financial Industry Regulatory Authority (FINRA). - Answer✔️✔️-Variable
With a medical discount plan, how often would a person generally pay a
fee to get discounts on specific services? - Answer✔️✔️-monthly
Insurance companies that are organized in countries outside the United
States are referred to as - Answer✔️✔️-alien
A long-term care lapse notice must be delivered to both the applicant and -
Answer✔️✔️-secondary addressee
The Department may request all of these during the licensing application
process EXCEPT - Answer✔️✔️-drug test
A "reimbursement policy" pays what amount of coverage Long-Term Care
expenses? - Answer✔️✔️-Actual covered expenses up to the daily maximum
3
XCEL FL TEST STUDY GUIDE WITH
COMPLETE SOLUTIONS
Which of the following types of health coverage frequently uses a
deductible? - Answer✔️✔️-Major Medical policy
What kind of Accidental Death and Dismemberment (AD&D) insurance
beneficiary requires his/her consent when a change of beneficiary is made?
- Answer✔️✔️-Irrevocable beneficiary
If a 10-Year Term Life policy contains a Renewability provision, the policy
will renew - Answer✔️✔️-without evidence of insurability
Under Florida law, a variable annuity policyowner must be notified of
accumulated value of the contract - Answer✔️✔️-once a year
Within how many days after policy delivery can a Medicare Supplement
policy be returned for a 100% premium refund? - Answer✔️✔️-30
During the course of an insurance transaction, if an agent makes a false or
incomplete statement, he/she could be found guilty of - Answer✔️✔️-
misrepresentation
Accidental Death coverage is provided to commercial airline passengers in
which of the following types of policies? - Answer✔️✔️-Blanket Accident
policy
1
, ©SOPHIABENNETT@2024-2025 Monday, August 26, 2024 6:09 AM
An IRA owner can start making withdrawals and NOT be subjected to a
tax penalty beginning at what age? - Answer✔️✔️-59 1/2
According to the Mandatory Uniform Policy Provisions, what is the
maximum amount of time after the premium due date during which the
policy remains in force even though the premium has not been paid? -
Answer✔️✔️-31 days
A licensed agent must be appointed by an insurance company to solicit
insurance in Florida. The agent's license will terminate if a certain period of
time elapses without being appointed. How long is this period of time? -
Answer✔️✔️-48 months
A Life insurance policyowner would like to take out a policy loan against
the cash value in his Whole Life policy. The interest rate applied to this
loan may vary over time. This is referred to as a(n) _______ rate loan. -
Answer✔️✔️-Variable
Which of these provisions require proof of insurability after a policy has
lapsed? - Answer✔️✔️-Reinstatement
What is the purpose of the Insurance Guaranty Fund Association? -
Answer✔️✔️-Protects policyowners against insolvent insurance companies
Which of the following is considered an accurate statement of an unfair
trade practice? - Answer✔️✔️-Twisting involves an agent using
misrepresentation to convince a policyowner to cancel their current policy
2
, ©SOPHIABENNETT@2024-2025 Monday, August 26, 2024 6:09 AM
so that they can purchases a new life insurance policy with another
company
Nursing home benefits must be provided for at least 12 consecutive months
in which of the following types of policies? - Answer✔️✔️-Long-Term Care
According to Florida law, a Group Life insurance policy requires a
minimum of how many insureds? - Answer✔️✔️-No minimum
Life and health insurance policies are: - Answer✔️✔️-Unilateral contracts
An agent that sells ______ Life insurance MUST be registered with the
Financial Industry Regulatory Authority (FINRA). - Answer✔️✔️-Variable
With a medical discount plan, how often would a person generally pay a
fee to get discounts on specific services? - Answer✔️✔️-monthly
Insurance companies that are organized in countries outside the United
States are referred to as - Answer✔️✔️-alien
A long-term care lapse notice must be delivered to both the applicant and -
Answer✔️✔️-secondary addressee
The Department may request all of these during the licensing application
process EXCEPT - Answer✔️✔️-drug test
A "reimbursement policy" pays what amount of coverage Long-Term Care
expenses? - Answer✔️✔️-Actual covered expenses up to the daily maximum
3
