Florida 2 – 15 Insurance License Exam Questions and Answers 100% Solved

Florida 2 – 15 Insurance License Exam Questions and
Answers 100% Solved

Accumulation units are converted into annuity units: - ANSWER: at the time of
annuity payout.

A group life insurance plan in which the employer pays the entire premium is known
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as a ________________ plan. - ANSWER: noncontributory
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If a disabled worker covered under Social Security disability benefits recovers and th
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en is disabled again within five years, a new waiting period is required before benefit
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s begin again. - ANSWER: FALSE
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Robert had an accident and qualified for Social Security disability. Given the waiting p
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eriod, when will Robert begin to receive benefits? - ANSWER: After 5 months
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The Insuring Clause includes all of the following EXCEPT the - ANSWER: beneficiary
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Mutualization occurs when a stock company turns to a __________ company. - 1 1 1 1 1 1 1 1 1 1 1


ANSWER: mutual
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To provide a safeguard for insureds, most major medical policies contain a ____________
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feature that limits the insured's out-of-pocket expenses. - ANSWER: stop-loss
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Tom is a newly appointed life, health and variable annuity agent with Acme Insurance
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1Agency. He is writing his first insurance policy on his brother-in-
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law's life. Who does Tom legally represent in this transaction? -
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1ANSWER: Acme Insurance Agency 1 1 1




An insurance clause is a distinct article in a formal document that establishes the rule
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s in the contract that _____________________ must adhere to. -
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ANSWER: both the insurer and the insured
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"ACC" refers to the type of disability that prevents someone from performing the job
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he was performing prior to the disability. - ANSWER: FALSE
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Which statement is CORRECT about the Department of Financial Services' right to exa
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mine an agent's records? - 1 1 1 1


ANSWER: An examination can be conducted at any time to discover any unfair trade p
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ractices.

Bill gives Jim a couple of tickets to a Florida Gators game to thank him for purchasing
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a policy. This is an example of: - ANSWER: rebating
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, ____________ term insurance provides a level amount of protection for a specified period
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, after which the policy expires. - ANSWER: Level
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Business overhead expense (B.O.E.) insurance does not provide benefits to cover the
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business owner's salary. - ANSWER: TRUE 1 1 1 1 1




Level, decreasing, and increasing insurance are all basic forms of ____________ insurance
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. - ANSWER: term
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Hospice services are covered under Medicare Part A. - ANSWER: TRUE
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Under Florida law, group health insurers must offer mental and nervous disorder ins
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urance to policyowners. - TRUE 1 1 1 1




Deductibles under a group major medical plan usually run from $250 to $500; where
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as individual health plans usually run from: - ANSWER: $1,000 plus.
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Every HMO subscriber must receive a benefits package that includes a copy of the HM
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O contract and certificate, and: - ANSWER: a member's handbook.
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A life insurance policy will not be reinstated if it has been: -
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ANSWER: surrendered for its cash value.
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Which of the following is NOT a type of permanent life insurance? -
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ANSWER: Term Life
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In Florida, a ______________ must sign for and on behalf of a minor purchasing life insura
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nce. - ANSWER: parent or legal guardian
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When an agent spreads a false story that damages a competing agent's reputation, the
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offense is called: - defamation
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__________ is when policy values of an insurance policy are used to purchase another pol
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icy with the same insurer for the sole purpose of earning additional premiums or com
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missions. - ANSWER: Churning 1 1 11




Once an organization has filed an application to conduct insurance business, the Offic
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e of Insurance Regulation will begin its review for issuing a(n): -
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ANSWER: Certificate of Authority
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Florida law requires health insurance policies and HMO contracts to provide coverag
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e for all medically necessary equipment, supplies and services used to treat diabetes
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when the patient's physician certifies that they are medically necessary. -
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ANSWER: TRUE
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