FLORIDA 2-15 INSURANCE LICENSE EXAM QUESTIONS
WITH ACCURATE ANSWERS
Accumulation units are converted into annuity units: Accurate
Answer - at the time of annuity payout.
A group life insurance plan in which the employer pays the entire premium
is known as a ________________ plan. Accurate Answer -
noncontributory
If a disabled worker covered under Social Security disability benefits
recovers and then is disabled again within five years, a new waiting period
is required before benefits begin again. Accurate Answer - FALSE
Robert had an accident and qualified for Social Security disability. Given the
waiting period, when will Robert begin to receive benefits?
Accurate Answer - After 5 months
The Insuring Clause includes all of the following EXCEPT the
Accurate Answer - beneficiary
Mutualization occurs when a stock company turns to a __________ company.
Accurate Answer - mutual
To provide a safeguard for insureds, most major medical policies contain a
____________ feature that limits the insured's out-of-pocket expenses.
Accurate Answer - stop-loss
Tom is a newly appointed life, health and variable annuity agent with Acme
Insurance Agency. He is writing his first insurance policy on his brother-in-
law's life. Who does Tom legally represent in this transaction?
Accurate Answer - Acme Insurance Agency
An insurance clause is a distinct article in a formal document that
establishes the rules in the contract that _____________________ must adhere to.
Accurate Answer - both the insurer and the insured
, "ACC" refers to the type of disability that prevents someone from
performing the job he was performing prior to the disability.
Accurate Answer - FALSE
Which statement is CORRECT about the Department of Financial Services'
right to examine an agent's records? Accurate 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: Accurate Answer -
rebating
____________ term insurance provides a level amount of protection for a
specified period, after which the policy expires. Accurate Answer -
Level
Business overhead expense (B.O.E.) insurance does not provide benefits to
cover the business owner's salary. Accurate Answer - TRUE
Level, decreasing, and increasing insurance are all basic forms of
____________ insurance. Accurate Answer - term
Hospice services are covered under Medicare Part A. Accurate
Answer - TRUE
Under Florida law, group health insurers must offer mental and nervous
disorder insurance to policyowners. Accurate Answer - TRUE
Deductibles under a group major medical plan usually run from $250 to
$500; whereas individual health plans usually run from: Accurate
Answer - $1,000 plus.
Every HMO subscriber must receive a benefits package that includes a copy
of the HMO contract and certificate, and: Accurate Answer - a
member's handbook.
A life insurance policy will not be reinstated if it has been: Accurate
Answer - surrendered for its cash value.
WITH ACCURATE ANSWERS
Accumulation units are converted into annuity units: Accurate
Answer - at the time of annuity payout.
A group life insurance plan in which the employer pays the entire premium
is known as a ________________ plan. Accurate Answer -
noncontributory
If a disabled worker covered under Social Security disability benefits
recovers and then is disabled again within five years, a new waiting period
is required before benefits begin again. Accurate Answer - FALSE
Robert had an accident and qualified for Social Security disability. Given the
waiting period, when will Robert begin to receive benefits?
Accurate Answer - After 5 months
The Insuring Clause includes all of the following EXCEPT the
Accurate Answer - beneficiary
Mutualization occurs when a stock company turns to a __________ company.
Accurate Answer - mutual
To provide a safeguard for insureds, most major medical policies contain a
____________ feature that limits the insured's out-of-pocket expenses.
Accurate Answer - stop-loss
Tom is a newly appointed life, health and variable annuity agent with Acme
Insurance Agency. He is writing his first insurance policy on his brother-in-
law's life. Who does Tom legally represent in this transaction?
Accurate Answer - Acme Insurance Agency
An insurance clause is a distinct article in a formal document that
establishes the rules in the contract that _____________________ must adhere to.
Accurate Answer - both the insurer and the insured
, "ACC" refers to the type of disability that prevents someone from
performing the job he was performing prior to the disability.
Accurate Answer - FALSE
Which statement is CORRECT about the Department of Financial Services'
right to examine an agent's records? Accurate 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: Accurate Answer -
rebating
____________ term insurance provides a level amount of protection for a
specified period, after which the policy expires. Accurate Answer -
Level
Business overhead expense (B.O.E.) insurance does not provide benefits to
cover the business owner's salary. Accurate Answer - TRUE
Level, decreasing, and increasing insurance are all basic forms of
____________ insurance. Accurate Answer - term
Hospice services are covered under Medicare Part A. Accurate
Answer - TRUE
Under Florida law, group health insurers must offer mental and nervous
disorder insurance to policyowners. Accurate Answer - TRUE
Deductibles under a group major medical plan usually run from $250 to
$500; whereas individual health plans usually run from: Accurate
Answer - $1,000 plus.
Every HMO subscriber must receive a benefits package that includes a copy
of the HMO contract and certificate, and: Accurate Answer - a
member's handbook.
A life insurance policy will not be reinstated if it has been: Accurate
Answer - surrendered for its cash value.
