Florida 2-15 Insurance License Exam/ 145+
Q&A/ 2024-2025.
Which statement is CORRECT about the Department of Financial Services' right to
examine an agent's records? - Answer: An examination can be conducted at any
time to discover any unfair trade practices.
Bill gives Jim a couple of tickets to a Florida Gators game to thank him for
purchasing a policy. This is an example of: - Answer: rebating
____________ term insurance provides a level amount of protection for a
specified period, after which the policy expires. - Answer: Level
Business overhead expense (B.O.E.) insurance does not provide benefits to cover
the business owner's salary. - Answer: TRUE
Page 1 of 22
,Level, decreasing, and increasing insurance are all basic forms of ____________
insurance. - Answer: term
Hospice services are covered under Medicare Part A. - Answer: TRUE
Under Florida law, group health insurers must offer mental and nervous disorder
insurance to policyowners. - Answer: TRUE
Deductibles under a group major medical plan usually run from $250 to $500;
whereas individual health plans usually run from: - Answer: $1,000 plus.
Every HMO subscriber must receive a benefits package that includes a copy of the
HMO contract and certificate, and: - Answer: a member's handbook.
A life insurance policy will not be reinstated if it has been: - Answer: surrendered
for its cash value.
Which of the following is NOT a type of permanent life insurance? - Answer: Term
Life
In Florida, a ______________ must sign for and on behalf of a minor purchasing
life insurance. - Answer: parent or legal guardian
When an agent spreads a false story that damages a competing agent's
reputation, the offense is called: - Answer: defamation
Page 2 of 22
, __________ 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. - Answer: Churning
Once an organization has filed an application to conduct insurance business, the
Office of Insurance Regulation will begin its review for issuing a(n): - Answer:
Certificate of Authority
Florida law requires health insurance policies and HMO contracts to provide
coverage for all medically necessary equipment, supplies and services used to
treat diabetes when the patient's physician certifies that they are medically
necessary. - Answer: TRUE
If an insurance company reimburses the insured for medical expenses, can the
insured deduct that amount from their federal income tax? - Answer: NO
Which of the following is NOT a benefit to key person insurance? - Answer: Wage
control
The "currently insured" classification under Social Security limits survivorship
benefits. In order to be eligible for Social Security survivor benefits, a person must
have earned _________________ period ending with the quarter in which the
worker died. - Answer: six credits during the 13-quarter
Page 3 of 22
Q&A/ 2024-2025.
Which statement is CORRECT about the Department of Financial Services' right to
examine an agent's records? - Answer: An examination can be conducted at any
time to discover any unfair trade practices.
Bill gives Jim a couple of tickets to a Florida Gators game to thank him for
purchasing a policy. This is an example of: - Answer: rebating
____________ term insurance provides a level amount of protection for a
specified period, after which the policy expires. - Answer: Level
Business overhead expense (B.O.E.) insurance does not provide benefits to cover
the business owner's salary. - Answer: TRUE
Page 1 of 22
,Level, decreasing, and increasing insurance are all basic forms of ____________
insurance. - Answer: term
Hospice services are covered under Medicare Part A. - Answer: TRUE
Under Florida law, group health insurers must offer mental and nervous disorder
insurance to policyowners. - Answer: TRUE
Deductibles under a group major medical plan usually run from $250 to $500;
whereas individual health plans usually run from: - Answer: $1,000 plus.
Every HMO subscriber must receive a benefits package that includes a copy of the
HMO contract and certificate, and: - Answer: a member's handbook.
A life insurance policy will not be reinstated if it has been: - Answer: surrendered
for its cash value.
Which of the following is NOT a type of permanent life insurance? - Answer: Term
Life
In Florida, a ______________ must sign for and on behalf of a minor purchasing
life insurance. - Answer: parent or legal guardian
When an agent spreads a false story that damages a competing agent's
reputation, the offense is called: - Answer: defamation
Page 2 of 22
, __________ 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. - Answer: Churning
Once an organization has filed an application to conduct insurance business, the
Office of Insurance Regulation will begin its review for issuing a(n): - Answer:
Certificate of Authority
Florida law requires health insurance policies and HMO contracts to provide
coverage for all medically necessary equipment, supplies and services used to
treat diabetes when the patient's physician certifies that they are medically
necessary. - Answer: TRUE
If an insurance company reimburses the insured for medical expenses, can the
insured deduct that amount from their federal income tax? - Answer: NO
Which of the following is NOT a benefit to key person insurance? - Answer: Wage
control
The "currently insured" classification under Social Security limits survivorship
benefits. In order to be eligible for Social Security survivor benefits, a person must
have earned _________________ period ending with the quarter in which the
worker died. - Answer: six credits during the 13-quarter
Page 3 of 22
