1
FLORIDA 240 LICENSE EXAM AND PRACTICE EXAM
NEWEST 2025 ACTUAL EXAM COMPLETE
可以！可以！请告诉我您需要写什么主题的中文作文，是写故事
QUESTIONS AND CORRECT DETAILED ANSWERS
、议论文、记叙文，还是其他类型？另外，作文的字数要求是多
少呢？请告诉我您需要写什么主题的中文作文，是写故事、议论
The stated amount or percent of liquid assets that an insurer must have on
文、记叙文，还是其他类型？另外，作文的字数要求是多少呢？
hand that will satisfy future obligations to its policyholders is called: -
(answer)Reserves
An insurance applicant MUST be informed of an investigation regarding his/her
reputation and character according to the: - (answer)Fair Credit Reporting Act
A nonprofit incorporated society that does not have capital stock and operates
for the sole benefit of its members is known as: - (answer)A fraternal benefit
society
What I the name of the law that requires insurers to disclose information
gathering practices and where the information was obtained? - (answer)Fair
Credit Reporting Act
Who elects the governing body of a mutual insurance company? -
(answer)Policyholders
A group-owned insurance company that is formed to assume and spread the
liability ricks of its members is known as a: - (answer)Risk retention group
What type of reinsurance contract involves two companies automatically
sharing their risk exposure? - (answer)treaty
What year was the McCarran-Ferguson Act enacted? - (answer)1945
, 2
Which of these describe a participating life insurance policy? - (answer)Policy
owners are entitled to receive dividends
可以！可以！请告诉我您需要写什么主题的中文作文，是写故事
、议论文、记叙文，还是其他类型？另外，作文的字数要求是多
At what少呢？请告诉我您需要写什么主题的中文作文，是写故事、议论
point must a life insurance applicant be informed of their rights that
文、记叙文，还是其他类型？另外，作文的字数要求是多少呢？
fall under the Fair Credit Reporting Act? - (answer)Upon completion of the
application
Which of the following requires insurers to disclose when an applicant's
consumer or credit history is being investigated: - (answer)1970 - Fair Credit
Reporting Act
What type of reinsurance contract involves two companies automatically
sharing their risk exposure? - (answer)Treaty
A group-owned insurance company that is formed to assume and spread the
liability risks of its members is known as a: - (answer)risk retention group
All of the following are considered to be typical characteristics describing the
nature of an insurance contract, EXCEPT: - (answer)Bilateral
The part of a life insurance policy guaranteed to be true is called a(n) -
(answer)warranty
Statements made on an insurance application that are believed to be true to
the best of the applicant's knowledge are called - (answer)representations
Q purchases a $500,000 life insurance policy and pays $900 in premiums over
the first six months. Q dies suddenly and the beneficiary is paid $500,000. This
exchange of unequal values reflects which of the following insurance contract
features? - (answer)Aleatory
, 3
When可以！可以！请告诉我您需要写什么主题的中文作文，是写故事
must insurable interest be present in order for a life insurance policy to
be valid? - (answer)When the application is made
、议论文、记叙文，还是其他类型？另外，作文的字数要求是多
少呢？请告诉我您需要写什么主题的中文作文，是写故事、议论
文、记叙文，还是其他类型？另外，作文的字数要求是多少呢？
A life insurance arrangement which circumvents insurable interest statutes is
called: - (answer)Investor-Originated Life Insurance
Stranger Originated Life Insurance (STOLI) has been found to be in violation of
which of the following contractual elements? - (answer)Legal Purpose
(Insurable Interest)
Who makes the legally enforceable promises in a unilateral contract? -
(answer)Insurance company
A policy of adhesion can only be modified by whom? - (answer)insurance
company
When third-party ownership is involved, applicants who also happen to be the
stated primary beneficiary are required to have: - (answer)insurable interest in
the proposed insured
Which of these is considered a statement that is assured to be true in every
aspect? - (answer)Warranty
Which of these require an offer, acceptance, and consideration? -
(answer)contract
If a contract of adhesion contains complicated language, to whom would the
interpretation be in favor of? - (answer)insured
, 4
Insurance contracts are known as _____ because certain future conditions or
acts must occur before any claims can be paid. - (answer)conditional
可以！可以！请告诉我您需要写什么主题的中文作文，是写故事
、议论文、记叙文，还是其他类型？另外，作文的字数要求是多
少呢？请告诉我您需要写什么主题的中文作文，是写故事、议论
Insurance policies are offered on a "take it or leave it" basis, which make them:
文、记叙文，还是其他类型？另外，作文的字数要求是多少呢？
- (answer)Contracts of Adhesion
In regards to representations or warranties, which of these statements is TRUE?
- (answer)If material to the risk, false representations will void a policy
Which of these arrangements allows one to bypass insurable interest laws? -
(answer)Investor-Originated Life Insurance
In an insurance contract, the insurer is the only party who makes a legally
enforceable promise. What kind of contract is this? - (answer)unilateral
Which of these is NOT a type of agent authority? - (answer)principal
E and F are business partners. Each takes out a $500,000 life insurance policy
on the other, naming himself as primary beneficiary. E and F eventually
terminate their business, and four months later E dies. Although E was married
with three children at the time of death, the primary beneficiary is still F.
However, an insurable interest no longer exists. Where will the proceeds from
E's life insurance policy be directed to? - (answer)In this situation, the
proceeds from E's life insurance policy will go to F.
When must insurable interest exist for a life insurance contract to be valid? -
(answer)Inception of the contract
Life and health insurance policies are: - (answer)unilateral contracts
FLORIDA 240 LICENSE EXAM AND PRACTICE EXAM
NEWEST 2025 ACTUAL EXAM COMPLETE
可以！可以！请告诉我您需要写什么主题的中文作文，是写故事
QUESTIONS AND CORRECT DETAILED ANSWERS
、议论文、记叙文，还是其他类型？另外，作文的字数要求是多
少呢？请告诉我您需要写什么主题的中文作文，是写故事、议论
The stated amount or percent of liquid assets that an insurer must have on
文、记叙文，还是其他类型？另外，作文的字数要求是多少呢？
hand that will satisfy future obligations to its policyholders is called: -
(answer)Reserves
An insurance applicant MUST be informed of an investigation regarding his/her
reputation and character according to the: - (answer)Fair Credit Reporting Act
A nonprofit incorporated society that does not have capital stock and operates
for the sole benefit of its members is known as: - (answer)A fraternal benefit
society
What I the name of the law that requires insurers to disclose information
gathering practices and where the information was obtained? - (answer)Fair
Credit Reporting Act
Who elects the governing body of a mutual insurance company? -
(answer)Policyholders
A group-owned insurance company that is formed to assume and spread the
liability ricks of its members is known as a: - (answer)Risk retention group
What type of reinsurance contract involves two companies automatically
sharing their risk exposure? - (answer)treaty
What year was the McCarran-Ferguson Act enacted? - (answer)1945
, 2
Which of these describe a participating life insurance policy? - (answer)Policy
owners are entitled to receive dividends
可以！可以！请告诉我您需要写什么主题的中文作文，是写故事
、议论文、记叙文，还是其他类型？另外，作文的字数要求是多
At what少呢？请告诉我您需要写什么主题的中文作文，是写故事、议论
point must a life insurance applicant be informed of their rights that
文、记叙文，还是其他类型？另外，作文的字数要求是多少呢？
fall under the Fair Credit Reporting Act? - (answer)Upon completion of the
application
Which of the following requires insurers to disclose when an applicant's
consumer or credit history is being investigated: - (answer)1970 - Fair Credit
Reporting Act
What type of reinsurance contract involves two companies automatically
sharing their risk exposure? - (answer)Treaty
A group-owned insurance company that is formed to assume and spread the
liability risks of its members is known as a: - (answer)risk retention group
All of the following are considered to be typical characteristics describing the
nature of an insurance contract, EXCEPT: - (answer)Bilateral
The part of a life insurance policy guaranteed to be true is called a(n) -
(answer)warranty
Statements made on an insurance application that are believed to be true to
the best of the applicant's knowledge are called - (answer)representations
Q purchases a $500,000 life insurance policy and pays $900 in premiums over
the first six months. Q dies suddenly and the beneficiary is paid $500,000. This
exchange of unequal values reflects which of the following insurance contract
features? - (answer)Aleatory
, 3
When可以！可以！请告诉我您需要写什么主题的中文作文，是写故事
must insurable interest be present in order for a life insurance policy to
be valid? - (answer)When the application is made
、议论文、记叙文，还是其他类型？另外，作文的字数要求是多
少呢？请告诉我您需要写什么主题的中文作文，是写故事、议论
文、记叙文，还是其他类型？另外，作文的字数要求是多少呢？
A life insurance arrangement which circumvents insurable interest statutes is
called: - (answer)Investor-Originated Life Insurance
Stranger Originated Life Insurance (STOLI) has been found to be in violation of
which of the following contractual elements? - (answer)Legal Purpose
(Insurable Interest)
Who makes the legally enforceable promises in a unilateral contract? -
(answer)Insurance company
A policy of adhesion can only be modified by whom? - (answer)insurance
company
When third-party ownership is involved, applicants who also happen to be the
stated primary beneficiary are required to have: - (answer)insurable interest in
the proposed insured
Which of these is considered a statement that is assured to be true in every
aspect? - (answer)Warranty
Which of these require an offer, acceptance, and consideration? -
(answer)contract
If a contract of adhesion contains complicated language, to whom would the
interpretation be in favor of? - (answer)insured
, 4
Insurance contracts are known as _____ because certain future conditions or
acts must occur before any claims can be paid. - (answer)conditional
可以！可以！请告诉我您需要写什么主题的中文作文，是写故事
、议论文、记叙文，还是其他类型？另外，作文的字数要求是多
少呢？请告诉我您需要写什么主题的中文作文，是写故事、议论
Insurance policies are offered on a "take it or leave it" basis, which make them:
文、记叙文，还是其他类型？另外，作文的字数要求是多少呢？
- (answer)Contracts of Adhesion
In regards to representations or warranties, which of these statements is TRUE?
- (answer)If material to the risk, false representations will void a policy
Which of these arrangements allows one to bypass insurable interest laws? -
(answer)Investor-Originated Life Insurance
In an insurance contract, the insurer is the only party who makes a legally
enforceable promise. What kind of contract is this? - (answer)unilateral
Which of these is NOT a type of agent authority? - (answer)principal
E and F are business partners. Each takes out a $500,000 life insurance policy
on the other, naming himself as primary beneficiary. E and F eventually
terminate their business, and four months later E dies. Although E was married
with three children at the time of death, the primary beneficiary is still F.
However, an insurable interest no longer exists. Where will the proceeds from
E's life insurance policy be directed to? - (answer)In this situation, the
proceeds from E's life insurance policy will go to F.
When must insurable interest exist for a life insurance contract to be valid? -
(answer)Inception of the contract
Life and health insurance policies are: - (answer)unilateral contracts
