Florida State Health Insurance Test Questions and Correct Answers

Florida Life Insurance State Exam Simulator Questions and Correct Answers Post-tax dollar contributions are found in Roth IRA investments N purchases an annuity by making payments in an amount no less than $100 quarterly. This describes which of the following annuities? Flexible installment deferred Q applied for life insurance and submitted the initial premium on January 1. The policy was issued February 1, but it was not delivered by the agent until February 7. Q is dissatisfied and returns the policy February 13. How will the insurer handle this situation? Policy was returned within the free look period, premium will be fully refunded Traditional individual retirement annuity distributions must start by April 1st of the year following the year the participant attains age 70 1/2 What is the underlying concept regarding level premiums? The early years are charged more than what is needed The fundamental reason for regulation of insurance is to protect consumers A policy of Adhesion can only be modified by the insurance company What kind of insurance policy supplies an income stream over a set period of time that starts when the insured dies? Family Maintenance policy A potential client, age 40, would like to purchase a Whole Life policy that will accumulate cash value at a faster rate in the early years of the policy. Which of these statements made by the producer would be correct? 20 pay life accumulates cash value faster than Straight Life What type of life policy has a death benefit that adjusts periodically and is written for a specific period of time? Decreasing term On delivery of a policy, a signed statement of good health is typically requested if: The application was submitted without the initial premium A potential client, age 40, would like to purchase a Whole Life policy that will accumulate cash value at a faster rate in the early years of the policy. Which of these statements made by the producer would be correct? 20 pay life accumulates cash value faster K purchased a $10,000 Life Policy that will pay the face amount to her if she lives to age 65, or to her beneficiary if she dies before age 65. K purchased which of the following types of policies? Endowment at age 65 Which department oversees 'Market Conduct Examinations' in Florida? Office of Insurance Regulation An insured's inability to perform two or more activities of daily living may trigger which type of policy rider? Long term care K is looking to purchase Renewable Term insurance. Which of these types of Term insurance may be renewable? Level