XCEL FL TEST STUDY GUIDE
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? - answer30
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
An IRA owner can start making withdrawals and NOT be subjected to a tax penalty
beginning at what age? - answer59 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? - answer31 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? - answer48 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. - answerVariable
Which of these provisions require proof of insurability after a policy has lapsed? -
answerReinstatement
, What is the purpose of the Insurance Guaranty Fund Association? - answerProtects
policyowners against insolvent insurance companies
Which of the following is considered an accurate statement of an unfair trade practice? -
answerTwisting involves an agent using misrepresentation to convince a policyowner to
cancel their current policy 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? - answerLong-Term Care
According to Florida law, a Group Life insurance policy requires a minimum of how
many insureds? - answerNo minimum
Life and health insurance policies are: - answerUnilateral contracts
An agent that sells ______ Life insurance MUST be registered with the Financial
Industry Regulatory Authority (FINRA). - answerVariable
With a medical discount plan, how often would a person generally pay a fee to get
discounts on specific services? - answermonthly
Insurance companies that are organized in countries outside the United States are
referred to as - answeralien
A long-term care lapse notice must be delivered to both the applicant and -
answersecondary addressee
The Department may request all of these during the licensing application process
EXCEPT - answerdrug test
A "reimbursement policy" pays what amount of coverage Long-Term Care expenses? -
answerActual covered expenses up to the daily maximum
In Florida, agents are allowed to engage in rebating if - answeroffered to all insureds in
the same actuarial class
The individual who provides general medical care for a patient as well as the referral for
specialized care is known as a: - answerPrimary Care Physician
Which of the following statements is correct regarding an employer/employee group
health plan? - answerThe employer receives a master policy and the employees receive
certificates.
In order to sell a(n) _______Life policy, a producer is required to register with the
Financial Industry Regulatory Authority (FINRA). - answerVariable
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? - answer30
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
An IRA owner can start making withdrawals and NOT be subjected to a tax penalty
beginning at what age? - answer59 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? - answer31 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? - answer48 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. - answerVariable
Which of these provisions require proof of insurability after a policy has lapsed? -
answerReinstatement
, What is the purpose of the Insurance Guaranty Fund Association? - answerProtects
policyowners against insolvent insurance companies
Which of the following is considered an accurate statement of an unfair trade practice? -
answerTwisting involves an agent using misrepresentation to convince a policyowner to
cancel their current policy 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? - answerLong-Term Care
According to Florida law, a Group Life insurance policy requires a minimum of how
many insureds? - answerNo minimum
Life and health insurance policies are: - answerUnilateral contracts
An agent that sells ______ Life insurance MUST be registered with the Financial
Industry Regulatory Authority (FINRA). - answerVariable
With a medical discount plan, how often would a person generally pay a fee to get
discounts on specific services? - answermonthly
Insurance companies that are organized in countries outside the United States are
referred to as - answeralien
A long-term care lapse notice must be delivered to both the applicant and -
answersecondary addressee
The Department may request all of these during the licensing application process
EXCEPT - answerdrug test
A "reimbursement policy" pays what amount of coverage Long-Term Care expenses? -
answerActual covered expenses up to the daily maximum
In Florida, agents are allowed to engage in rebating if - answeroffered to all insureds in
the same actuarial class
The individual who provides general medical care for a patient as well as the referral for
specialized care is known as a: - answerPrimary Care Physician
Which of the following statements is correct regarding an employer/employee group
health plan? - answerThe employer receives a master policy and the employees receive
certificates.
In order to sell a(n) _______Life policy, a producer is required to register with the
Financial Industry Regulatory Authority (FINRA). - answerVariable
