215 FL LICENSE EXAM
A person insured under a health policy is required to give the insurance company
a Notice of Claim within how many days after a covered loss? - ANSWERS-twenty
All of these insurance products require an agent to have proper FINRA securities
registration in order to sell them EXCEPT for - ANSWERS-Modified Whole Life
The first portion of a covered major medical insurance expense that the insured is
required to pay is called the - ANSWERS-initial deductible
A long term care lapse notice must be delivered to both the applicant and -
ANSWERS-Secondary addressee
What provision in a life insurance policy states that the application is considered
part of the contract? - ANSWERS-Entire Contract provision
In order for a domestic, foreign, or alien insurance company to conduct business,
it must be authorized by whom? - ANSWERS-The state where they are conducting
business
What are adjustable rates for life policy loans in Florida based on - ANSWERS-
Moody's corporate bond index
,When does a Probationary Period provision become effective in a health
insurance contract? - ANSWERS-At the policy's inception
What is being delivered during a policy delivery? - ANSWERS-Insurance contract
to the proposed insured
Group Life policies in Florida are required to contain a conversion privilege that
allows for conversion - ANSWERS-to an individual policy for a stated period of
time
Insurance policies are considered aleatory contracts because - ANSWERS-
performance is conditioned upon a future occurrence
Which type of renewability best describes a Disability Income policy that covers
an individual until the age of 65, but the insurer has the right to change the
premium rate? - ANSWERS-Guaranteed renewable
An underwriter determines that an applicant's risk should be recategorized due to
a health issue. This policy may be issued with a(n) - ANSWERS-exclusion for the
medical condition
Additional coverage can be added to a Whole Life policy by adding a(n) -
ANSWERS-decreasing term rider
Variable life products require a producer to - ANSWERS-Life and securities license
, A policy loan is made possible by which of these life insurance policy features? -
ANSWERS-Cash value provision
All of the following are considered to be typical characteristics describing the
nature of an insurance contract, except - ANSWERS-bilateral
Which of the following dividend options results in taxable income to the policy
owner - ANSWERS-Accumulation at interest
K buys a policy where the premium stays fixed for the first 5 years. The premium
then increases in year 6 and stays level thereafter, all the while the death benefit
remains the same. What kind of policy is this? - ANSWERS-Modified Whole Life
A(n) ___ life policy offers the owner investment in products such as money-
market funds, long-term Bonds and equities - ANSWERS-variable
Which of these circumstances is a Business Disability Buy-Sell policy designed to
help in the sale of a business? - ANSWERS-Business owner becoming disabled
Which of these do NOT constitute policy delivery? - ANSWERS-Policy issued with a
rating
A person insured under a health policy is required to give the insurance company
a Notice of Claim within how many days after a covered loss? - ANSWERS-twenty
All of these insurance products require an agent to have proper FINRA securities
registration in order to sell them EXCEPT for - ANSWERS-Modified Whole Life
The first portion of a covered major medical insurance expense that the insured is
required to pay is called the - ANSWERS-initial deductible
A long term care lapse notice must be delivered to both the applicant and -
ANSWERS-Secondary addressee
What provision in a life insurance policy states that the application is considered
part of the contract? - ANSWERS-Entire Contract provision
In order for a domestic, foreign, or alien insurance company to conduct business,
it must be authorized by whom? - ANSWERS-The state where they are conducting
business
What are adjustable rates for life policy loans in Florida based on - ANSWERS-
Moody's corporate bond index
,When does a Probationary Period provision become effective in a health
insurance contract? - ANSWERS-At the policy's inception
What is being delivered during a policy delivery? - ANSWERS-Insurance contract
to the proposed insured
Group Life policies in Florida are required to contain a conversion privilege that
allows for conversion - ANSWERS-to an individual policy for a stated period of
time
Insurance policies are considered aleatory contracts because - ANSWERS-
performance is conditioned upon a future occurrence
Which type of renewability best describes a Disability Income policy that covers
an individual until the age of 65, but the insurer has the right to change the
premium rate? - ANSWERS-Guaranteed renewable
An underwriter determines that an applicant's risk should be recategorized due to
a health issue. This policy may be issued with a(n) - ANSWERS-exclusion for the
medical condition
Additional coverage can be added to a Whole Life policy by adding a(n) -
ANSWERS-decreasing term rider
Variable life products require a producer to - ANSWERS-Life and securities license
, A policy loan is made possible by which of these life insurance policy features? -
ANSWERS-Cash value provision
All of the following are considered to be typical characteristics describing the
nature of an insurance contract, except - ANSWERS-bilateral
Which of the following dividend options results in taxable income to the policy
owner - ANSWERS-Accumulation at interest
K buys a policy where the premium stays fixed for the first 5 years. The premium
then increases in year 6 and stays level thereafter, all the while the death benefit
remains the same. What kind of policy is this? - ANSWERS-Modified Whole Life
A(n) ___ life policy offers the owner investment in products such as money-
market funds, long-term Bonds and equities - ANSWERS-variable
Which of these circumstances is a Business Disability Buy-Sell policy designed to
help in the sale of a business? - ANSWERS-Business owner becoming disabled
Which of these do NOT constitute policy delivery? - ANSWERS-Policy issued with a
rating
