Florida Statutes, Rules, and
Regulations Pertinent to Health
Insurance Correct Answers
Which of the following insurance products will be subject to the regulation on life
insurance solicitation? - ANSWER-Term life policy.
When a group policy terminates, every individual insured under the policy will be
entitled to have an individual policy if the insured has been insured by the group
policy for at least how many years prior to policy termination? - ANSWER-5 years
An employee will be taxed on the cost of group life insurance paid by the employer if
the amount of coverage exceeds - ANSWER-$50,000
All of the following information about a customer must be used in determining
annuity suitability EXCEPT - ANSWER-beneficiary's age
Which rule would apply if an agent knows an applicant is going to cash in an old
policy and use the funds to purchase new insurance? - ANSWER-Replacement rule
A person insured under a group life insurance policy can make an assignment of all
or any part of the incidents of ownership conferred on the insured by the policy or by
law, to any of the following EXCEPT - ANSWER-policyholder
In order for a debtor group to qualify for group life insurance, what should be the
minimum number of participants joining the plan every year? - ANSWER-100
A customer with an existing life insurance contract is considering exchanging it for a
newer contract. What Florida insurance regulation should the customer's insurance
agent consult? - ANSWER-Florida Replacement Rule
During replacement of life insurance, a replacing insurer must do which of the
following? - ANSWER-Obtain a list of all life insurance policies that will be replaced
Which of the following dates must be contained in a policy summary? - ANSWER-
The date the summary was prepared
If an employer decides to change its life insurance policy to a similar one with a
different insurer, which of the following describes the extent that the replacement
regulations will be exercised? - ANSWER-Replacement regulations will not apply in
this situation.
Which of the following entities must approve all Medicare supplement
advertisements? - ANSWER-Insurance Commissioner or Director
Regulations Pertinent to Health
Insurance Correct Answers
Which of the following insurance products will be subject to the regulation on life
insurance solicitation? - ANSWER-Term life policy.
When a group policy terminates, every individual insured under the policy will be
entitled to have an individual policy if the insured has been insured by the group
policy for at least how many years prior to policy termination? - ANSWER-5 years
An employee will be taxed on the cost of group life insurance paid by the employer if
the amount of coverage exceeds - ANSWER-$50,000
All of the following information about a customer must be used in determining
annuity suitability EXCEPT - ANSWER-beneficiary's age
Which rule would apply if an agent knows an applicant is going to cash in an old
policy and use the funds to purchase new insurance? - ANSWER-Replacement rule
A person insured under a group life insurance policy can make an assignment of all
or any part of the incidents of ownership conferred on the insured by the policy or by
law, to any of the following EXCEPT - ANSWER-policyholder
In order for a debtor group to qualify for group life insurance, what should be the
minimum number of participants joining the plan every year? - ANSWER-100
A customer with an existing life insurance contract is considering exchanging it for a
newer contract. What Florida insurance regulation should the customer's insurance
agent consult? - ANSWER-Florida Replacement Rule
During replacement of life insurance, a replacing insurer must do which of the
following? - ANSWER-Obtain a list of all life insurance policies that will be replaced
Which of the following dates must be contained in a policy summary? - ANSWER-
The date the summary was prepared
If an employer decides to change its life insurance policy to a similar one with a
different insurer, which of the following describes the extent that the replacement
regulations will be exercised? - ANSWER-Replacement regulations will not apply in
this situation.
Which of the following entities must approve all Medicare supplement
advertisements? - ANSWER-Insurance Commissioner or Director
