Florida Life and Health State Exam Simulator -
Questions With Insightful Solutions
Which of the following statements about guaranteed renewable
health insurance policy is correct? Correct Answer - Premiums
normally increase at the time of renewal.
The issuer must provide a perspective buyer with an? Correct
Answer - Buyers guide and policy summary
T would like to be assured $10,000 is available in 10 years to
replace a roof on his house. What kind of $10,000 policy should T
purchase? Correct Answer - Ten-year Endowment
According to the time payment of claims provision, the insurer must
pay disability income benefits no less frequently then which of the
following options? Correct Answer - Monthly
Which of the following is the most important factor when deciding
how much disability income coverage an applicant should purchase?
Correct Answer - Applicants monthly income
Which two entitles regulate variable annuities? Correct Answer -
Department of Financial Services; Securities Exchange Commission.
The amount of coverage on a group life policy is limited to?
Correct Answer - The insured's total loan value
The provision that can be used to put on insurance policy back in
force after it has lapsed due to nonpayment is called? Correct
Answer - Reinstatement
,Which product would best serve a retired individual looking to
invest a lump-sum of money through an insurance company?
Correct Answer - Annuity
According to Florida law, a group life insurance policy requires a
minimum how many insureds? Correct Answer - No minimum
Multiple employer welfare arrangement (MEWA) provides what
type of benefits? Correct Answer - Insurance
In a qualified retirement plan, the yearly contributions to an
employee's account? Correct Answer - Are restricted to
maximum level set by the IRS
All of the following entries are classified under the four principal
areas of Florida insurance law except? Correct Answer - An
agent's commission
According to Florida's life insurance replacement law, about
policyowner must be provided with the written comparison and
summary statement when it's required by? Correct Answer -
The policyowner
On delivery of policy, a signed statement of good health is typically
request if? Correct Answer - The application was submitted
without the initial premium.
K is the insured and P is the sole beneficiary on an accidental death
and dismemberment insurance policy. Both are involved in a fatal
accident where K dies before P. Under the common disaster
provision, which of these statements is true? Correct Answer -
Proceeds will be paid to P's estate
, An insured is past due on his life insurance premium but is still
within the grace period. What will the beneficiary receive if the
insured dies during the grace period.? Correct Answer - Full
face amount minus any past due premiums
A business overhead expens policy would cover which of the
following if a business owner becomes disabled? Correct Answer -
Utilities and office rent
Employers with less then —— employees are affected by Florida
health insurance coverage continuation act (Mini COBRA)?
Correct Answer - 20
S is employer by large corporation that provides group health
coverage for its employees and their dependents. If S dies, The
company must allow his surviving spouse and dependents to
continue their group health coverage for a maximum of how many
months on the cobra regulations? Correct Answer - 36 months
(under COBRA)
J is an agent who recently told a claimant that his rights might be
impaired if he does not complete a release form within a specified
time. What could this agent be found guilty of? Correct Answer -
Coercion
An employer that offers a qualified retirement plan to its employees
is eligible to? Correct Answer - Make tax-deductible
contribution to the plan
Which of the following employees may not be excluded from the
group life plan? Correct Answer - Full-time employees after
the probation period.
Questions With Insightful Solutions
Which of the following statements about guaranteed renewable
health insurance policy is correct? Correct Answer - Premiums
normally increase at the time of renewal.
The issuer must provide a perspective buyer with an? Correct
Answer - Buyers guide and policy summary
T would like to be assured $10,000 is available in 10 years to
replace a roof on his house. What kind of $10,000 policy should T
purchase? Correct Answer - Ten-year Endowment
According to the time payment of claims provision, the insurer must
pay disability income benefits no less frequently then which of the
following options? Correct Answer - Monthly
Which of the following is the most important factor when deciding
how much disability income coverage an applicant should purchase?
Correct Answer - Applicants monthly income
Which two entitles regulate variable annuities? Correct Answer -
Department of Financial Services; Securities Exchange Commission.
The amount of coverage on a group life policy is limited to?
Correct Answer - The insured's total loan value
The provision that can be used to put on insurance policy back in
force after it has lapsed due to nonpayment is called? Correct
Answer - Reinstatement
,Which product would best serve a retired individual looking to
invest a lump-sum of money through an insurance company?
Correct Answer - Annuity
According to Florida law, a group life insurance policy requires a
minimum how many insureds? Correct Answer - No minimum
Multiple employer welfare arrangement (MEWA) provides what
type of benefits? Correct Answer - Insurance
In a qualified retirement plan, the yearly contributions to an
employee's account? Correct Answer - Are restricted to
maximum level set by the IRS
All of the following entries are classified under the four principal
areas of Florida insurance law except? Correct Answer - An
agent's commission
According to Florida's life insurance replacement law, about
policyowner must be provided with the written comparison and
summary statement when it's required by? Correct Answer -
The policyowner
On delivery of policy, a signed statement of good health is typically
request if? Correct Answer - The application was submitted
without the initial premium.
K is the insured and P is the sole beneficiary on an accidental death
and dismemberment insurance policy. Both are involved in a fatal
accident where K dies before P. Under the common disaster
provision, which of these statements is true? Correct Answer -
Proceeds will be paid to P's estate
, An insured is past due on his life insurance premium but is still
within the grace period. What will the beneficiary receive if the
insured dies during the grace period.? Correct Answer - Full
face amount minus any past due premiums
A business overhead expens policy would cover which of the
following if a business owner becomes disabled? Correct Answer -
Utilities and office rent
Employers with less then —— employees are affected by Florida
health insurance coverage continuation act (Mini COBRA)?
Correct Answer - 20
S is employer by large corporation that provides group health
coverage for its employees and their dependents. If S dies, The
company must allow his surviving spouse and dependents to
continue their group health coverage for a maximum of how many
months on the cobra regulations? Correct Answer - 36 months
(under COBRA)
J is an agent who recently told a claimant that his rights might be
impaired if he does not complete a release form within a specified
time. What could this agent be found guilty of? Correct Answer -
Coercion
An employer that offers a qualified retirement plan to its employees
is eligible to? Correct Answer - Make tax-deductible
contribution to the plan
Which of the following employees may not be excluded from the
group life plan? Correct Answer - Full-time employees after
the probation period.
