Florida 2-15 Insurance License Exam Questions And Answers

Florida 2-15 Insurance License Exam
Questions And Answers
__________visvwhenvpolicyvvaluesvofvanvinsurancevpolicyvarevusedvtovpurchasevanothervpo
licyvwithvthevsamevinsurervforvthevsolevpurposevofvearningvadditionalvpremiumsvorvcommissi
ons.v-vCORRECTvvANSWER-Churning

___________vrefersvtovthevmoniesvsetvasidevbyvinsurersvforvfuturevclaimsvcosts.v-
vCORRECTvvANSWER-Reservevfunds




____________vtermvinsurancevprovidesvavlevelvamountvofvprotectionvforvavspecifiedvperiod
,vaftervwhichvthevpolicyvexpires.v-vCORRECTvvANSWER-Level

_____________vhealthvinsurancevisvissuedvtovcovervavgroupvwhovmayvbevexposedvtovthevs
amevrisks,vbutvthevcompositionvofvthevgroupvisvconstantlyvchanging.v-
vCORRECTvvANSWER-Blanket




_______________vpoliciesvarevcommonlyvusedvasvavhedgevagainstvinflationvtovwardvoffvde
creasedvpurchasingvpower.v-vCORRECTvvANSWER-Increasingvterm

__________________varevthevtwovmostvimportantvfactorsvinvthevhealthvinsurancevunderwr
itingvprocess.v-vCORRECTvvANSWER-Medicalvhistoryvandvoccupation

"ACC"vrefersvtovthevtypevofvdisabilityvthatvpreventsvsomeonevfromvperformingvthevjobvhevwa
svperformingvpriorvtovthevdisability.v-vCORRECTvvANSWER-FALSE

Av_____________vgroupvinvolvesvcombiningvseveralvpartiesvintovavgroupvforvthevpurposev
ofvobtainingvinsurance.v-vCORRECTvvANSWER-fictitious

AvcompletevexaminationvofvanvHMO'svaffairsvisvconductedvatvleast:v-
vCORRECTvvANSWER-onceveveryvfivevyears.




Avgroupvlifevinsurancevplanvinvwhichvthevemployervpaysvtheventirevpremiumvisvknownvasvav_
_______________vplan.v-vCORRECTvvANSWER-noncontributory

Avhealthvplanvwithvav$5-per-pointvconversionvfactorvwouldvpayv_______vforvav200-
pointvprocedure.v-vCORRECTvvANSWER-$1,000

, Avlifevinsurancevpolicyvwillvnotvbevreinstatedvifvitvhasvbeen:v-vCORRECTvvANSWER-
surrenderedvforvitsvcashvvalue.

Avlifevinsurancevpolicy'svcashvvaluevbelongsvtovthevinsured.v-vCORRECTvvANSWER-
FALSE

Avmanvcommitsvsuicidev30vmonthsvaftervpurchasingvavlifevinsurancevpolicyvandvhisvwifevisvt
hevnamedvbeneficiary.vWhatvamountvwillvhisvwifevreceive?v-vCORRECTvvANSWER-
Thevfacevamountvofvthevpolicy

Avmedicalvexpensevpolicyvstatesvthatvitvwillvpayvavflatv$200vavdayvforveachvdayvofvhospitaliza
tion.vThevpolicyvpaysvbenefitsvonvwhatvbasis?v-vCORRECTvvANSWER-Indemnity

Avportionvofvavmutualvinsurer'svpremiumsvarevpaidvoutvasvpolicyvdividendsvandvarevconsider
ed:v-vCORRECTvvANSWER-refunds

Avprospectusvforvanvindividualvvariablevinsurancevcontract:v-vCORRECTvvANSWER-
mustvaccompanyveveryvsalesvpresentation.

Avtermvlifevinsurancevpolicy'svcashvvaluevbuildsvduringvavspecificallyvlimitedvperiodvofvtime.v-
vCORRECTvvANSWER-FALSE




AvVariablevannuityvseparatevaccountvwillvbevinvestedvin:v-vCORRECTvvANSWER-
commonvstocksvandvothervsecurities.

AccordingvtovFlorida'svStandardvValuationvLaw,vthev__________________visvmandatory.v-
vCORRECTvvANSWER-legalvreserve




Accumulationvunitsvarevconvertedvintovannuityvunits:v-vCORRECTvvANSWER-
atvthevtimevofvannuityvpayout.

AD&Dvpoliciesvmakevbenefitsvpayablevinvthevformvofvprincipalvsumvandvcapitalvsum.v-
vCORRECTvvANSWER-TRUE




Agentsvshouldvcheckvwithv_________________vtovdeterminevifvthevinsurervtheyvarevrepres
entingvisvavproperlyvauthorizedvinsurer.v-vCORRECTvvANSWER-
thevDepartmentvofvFinancialvServices

Allvstatementsvmadevonvanvapplicationvarevconsideredv________________vbecausevthere
vcanvbevnovguaranteevthatvtheyvarevtrue.v-vCORRECTvvANSWER-representations




Anvagentvengagedvinvchurningvasvavresultvofvfraudulentvconductvisvsubjectvtovavfinevofv____
____vforveachvwillfulvviolation.v(2012)v-vCORRECTvvANSWER-$50,000