FLORIDA 215 EXAM
The ________________ means that the life insurance policy along with the
application represents the complete contract.
1) Rights of Ownership provision
2) Change of Beneficiary clause
3) Consideration clause
4) Entire Contract provision - ANSWERS-Entire Contract provision
Florida statutes require licensees to notify the Department in writing within
_____ days after a change of name, residence address, principal business street
address, or mailing address.
1) 15
2) 30
3) 45
4) 60 - ANSWERS-60
The Florida Employee Health Care Access Act identifies a full-time employee as
one who works at least ___ hours per week.
1) 25
2) 15
3) 10
,4) 5 - ANSWERS-25
The disadvantage of naming an estate as beneficiary is that proceeds will be
included in the insured's:
1) inheritance taxes.
2) estate.
3) income.
4) liabilities. - ANSWERS-estate
Equity indexed annuities are a form of:
1) mutual fund.
2) single premium annuity.
3) variable annuity.
4) fixed rate annuity. - ANSWERS-fixed rate annuity
Which organization regulates the separate account in variable insurance
products?
1) The SEC
2) The NASD
3) The SEC in conjunction with the NASD
4) Individual states - ANSWERS-The SEC
,TRUE or FALSE
In a Salary Continuation Plan, premiums are tax-deductible. - ANSWERS-FALSE
Agents should check with _________________ to determine if the insurer they
are representing is a properly authorized insurer.
1) the State Legislature
2) the Department of Financial Services
3) the State Court System
4) their employer - ANSWERS-the Department of Financial Services
Carl purchased a tax deferred annuity when he was 40 years old. At what age
must distributions begin?
1) 59 1/2
2) 65
3) 70 1/2
4) No distribution age limit applies to annuities. - ANSWERS-No distribution age
limit applied to annuities
Using preprinted material in a sales presentation is recommended because:
1) the agent doesn't have to know exactly how a product works.
2) it saves a lot of time and explanation.
3) such material generally has been reviewed for compliance.
, 4) the agent can give it to the client instead of answering the client's questions. -
ANSWERS-such material generally has been reviewed for compliance
FAIFA defines appropriate and inappropriate business behavior for:
1) life insurance agents.
2) all insurance agents.
3) life insurance companies. - ANSWERS-life insurance agents
The most commonly used method of rating substandard risk is through the:
1) extra percentage tables.
2) permanent flat extra premium tables.
3) temporary flat extra premium tables.
4) rating up in age method. - ANSWERS-extra percentage table
Qualified plans under ERISA cannot sell health insurance to:
1) the general public.
2) individuals 65+ years of age.
3) individuals under 65 years of age.
4) union members. - ANSWERS-the general public
The disability income insurance cost of living rider (COLA) is relatively:
1) difficult to get.
The ________________ means that the life insurance policy along with the
application represents the complete contract.
1) Rights of Ownership provision
2) Change of Beneficiary clause
3) Consideration clause
4) Entire Contract provision - ANSWERS-Entire Contract provision
Florida statutes require licensees to notify the Department in writing within
_____ days after a change of name, residence address, principal business street
address, or mailing address.
1) 15
2) 30
3) 45
4) 60 - ANSWERS-60
The Florida Employee Health Care Access Act identifies a full-time employee as
one who works at least ___ hours per week.
1) 25
2) 15
3) 10
,4) 5 - ANSWERS-25
The disadvantage of naming an estate as beneficiary is that proceeds will be
included in the insured's:
1) inheritance taxes.
2) estate.
3) income.
4) liabilities. - ANSWERS-estate
Equity indexed annuities are a form of:
1) mutual fund.
2) single premium annuity.
3) variable annuity.
4) fixed rate annuity. - ANSWERS-fixed rate annuity
Which organization regulates the separate account in variable insurance
products?
1) The SEC
2) The NASD
3) The SEC in conjunction with the NASD
4) Individual states - ANSWERS-The SEC
,TRUE or FALSE
In a Salary Continuation Plan, premiums are tax-deductible. - ANSWERS-FALSE
Agents should check with _________________ to determine if the insurer they
are representing is a properly authorized insurer.
1) the State Legislature
2) the Department of Financial Services
3) the State Court System
4) their employer - ANSWERS-the Department of Financial Services
Carl purchased a tax deferred annuity when he was 40 years old. At what age
must distributions begin?
1) 59 1/2
2) 65
3) 70 1/2
4) No distribution age limit applies to annuities. - ANSWERS-No distribution age
limit applied to annuities
Using preprinted material in a sales presentation is recommended because:
1) the agent doesn't have to know exactly how a product works.
2) it saves a lot of time and explanation.
3) such material generally has been reviewed for compliance.
, 4) the agent can give it to the client instead of answering the client's questions. -
ANSWERS-such material generally has been reviewed for compliance
FAIFA defines appropriate and inappropriate business behavior for:
1) life insurance agents.
2) all insurance agents.
3) life insurance companies. - ANSWERS-life insurance agents
The most commonly used method of rating substandard risk is through the:
1) extra percentage tables.
2) permanent flat extra premium tables.
3) temporary flat extra premium tables.
4) rating up in age method. - ANSWERS-extra percentage table
Qualified plans under ERISA cannot sell health insurance to:
1) the general public.
2) individuals 65+ years of age.
3) individuals under 65 years of age.
4) union members. - ANSWERS-the general public
The disability income insurance cost of living rider (COLA) is relatively:
1) difficult to get.
