1 Exampromax - Stuvia US
FL Life and Health Insurance 2-15 Study Exam
(16 Questions and Answers 100% Correct
Answers Already Graded A+
Q: N is covered by a Term Life policy and does not make the required
premium payment which was due August 1. N dies September 15. What
action will the insurer take?
Ans: Claim will be denied.
Q: A contract where one party either accepts or rejects the terms of a
Exampromax - Stuvia US
contract written by another party is called a contract of
Ans: adhesion
Q: All of the following statements about Major Medical benefits are true,
EXCEPT:
Ans: Benefits have no maximum limit
Q: W gave W's age as 50 when W purchased a Life policy. At the time of
W's death seven years later, the company discovered W's true age at issue
had been 59. What would the normal procedure be under the misstatement
of age provision in regard to the payment of the death claim?
Ans: The proceeds would be reduced based on whatever the premium would
have been if purchased at age 59.
Q: All of these are considered sources of underwriting information about
an applicant, EXCEPT:
Ans: Inspection Report
Q: According to the Mandatory Uniform Policy Provisions, what is the
maximum amount of time after the premium due date during which the
policy remains in force even though the premium has not been paid?
, 2 Exampromax - Stuvia US
Ans: 31 days
Q: Which provision allows the policy owner to change a term life policy to
a permanent one without providing proof of good health?
Ans: Conversion
Q: What do families pay that are covered by the Florida Healthy Kids
Corporation?
Ans: A portion of the premium
Q: Which statement regarding third-party ownership of a life insurance
policy is true?
Ans: It is used extensively in estate planning as well as business circumstances.
Exampromax - Stuvia US
Q: Which of the following employees may NOT be excluded from a group
life plan?
Ans: Full-time employees after the probationary period.
Q: Which of the following statements BEST describes what the Legal
Actions provision of an Accident and Health policy requires?
Ans: An insured must wait at least 60 days after Proof of Loss has been
submitted before a lawsuit can be filed.
Q: What percentage of eligible persons must a policy cover in a
noncontributory group?
Ans: 100%
Q: What are adjustable rates for life policy loans in Florida based on?
Ans: Moody's corporate bond index.
Q: An underwriter determines that a life insurance applicant's risk should
be reclassified due to a health issue. This policy may be issued with a(n):
Ans: exclusion for the medical condition
, 3 Exampromax - Stuvia US
Q: What is the initial requirement for an insured to become eligible for
benefits under the Waiver of Premium provision?
Ans: Insured must be under a physician's care
Q: J has a Disability Income policy that does NOT provide benefits for
losses occurring as the result of his employment. What kind of coverage is
this?
Ans: Nonoccupational coverage
Q: K is insured under a Group Life Insurance policy. K is considered to be
a(n)
Ans: certificate holder
Exampromax - Stuvia US
Q: According to Florida law, which of the following information does
NOT need to be obtained by an agent recommending an annuity purchase?
Ans: Marital status
Q: Dividends paid from a life insurance policy are
Ans: taxable
Q: S takes out a health insurance policy which contains a provision that
states the agent does not have the authority to change the policy or waive
any of its provisions. Which health policy provision is this?
Ans: Entire Contract
Q: Which policy requires an agent to register with the National Association
of Securities Dealers (NASD) before selling?
Ans: Variable Life
Q: Defamation occurs when an agent makes a false statement intended to
Ans: malign another insurer
FL Life and Health Insurance 2-15 Study Exam
(16 Questions and Answers 100% Correct
Answers Already Graded A+
Q: N is covered by a Term Life policy and does not make the required
premium payment which was due August 1. N dies September 15. What
action will the insurer take?
Ans: Claim will be denied.
Q: A contract where one party either accepts or rejects the terms of a
Exampromax - Stuvia US
contract written by another party is called a contract of
Ans: adhesion
Q: All of the following statements about Major Medical benefits are true,
EXCEPT:
Ans: Benefits have no maximum limit
Q: W gave W's age as 50 when W purchased a Life policy. At the time of
W's death seven years later, the company discovered W's true age at issue
had been 59. What would the normal procedure be under the misstatement
of age provision in regard to the payment of the death claim?
Ans: The proceeds would be reduced based on whatever the premium would
have been if purchased at age 59.
Q: All of these are considered sources of underwriting information about
an applicant, EXCEPT:
Ans: Inspection Report
Q: According to the Mandatory Uniform Policy Provisions, what is the
maximum amount of time after the premium due date during which the
policy remains in force even though the premium has not been paid?
, 2 Exampromax - Stuvia US
Ans: 31 days
Q: Which provision allows the policy owner to change a term life policy to
a permanent one without providing proof of good health?
Ans: Conversion
Q: What do families pay that are covered by the Florida Healthy Kids
Corporation?
Ans: A portion of the premium
Q: Which statement regarding third-party ownership of a life insurance
policy is true?
Ans: It is used extensively in estate planning as well as business circumstances.
Exampromax - Stuvia US
Q: Which of the following employees may NOT be excluded from a group
life plan?
Ans: Full-time employees after the probationary period.
Q: Which of the following statements BEST describes what the Legal
Actions provision of an Accident and Health policy requires?
Ans: An insured must wait at least 60 days after Proof of Loss has been
submitted before a lawsuit can be filed.
Q: What percentage of eligible persons must a policy cover in a
noncontributory group?
Ans: 100%
Q: What are adjustable rates for life policy loans in Florida based on?
Ans: Moody's corporate bond index.
Q: An underwriter determines that a life insurance applicant's risk should
be reclassified due to a health issue. This policy may be issued with a(n):
Ans: exclusion for the medical condition
, 3 Exampromax - Stuvia US
Q: What is the initial requirement for an insured to become eligible for
benefits under the Waiver of Premium provision?
Ans: Insured must be under a physician's care
Q: J has a Disability Income policy that does NOT provide benefits for
losses occurring as the result of his employment. What kind of coverage is
this?
Ans: Nonoccupational coverage
Q: K is insured under a Group Life Insurance policy. K is considered to be
a(n)
Ans: certificate holder
Exampromax - Stuvia US
Q: According to Florida law, which of the following information does
NOT need to be obtained by an agent recommending an annuity purchase?
Ans: Marital status
Q: Dividends paid from a life insurance policy are
Ans: taxable
Q: S takes out a health insurance policy which contains a provision that
states the agent does not have the authority to change the policy or waive
any of its provisions. Which health policy provision is this?
Ans: Entire Contract
Q: Which policy requires an agent to register with the National Association
of Securities Dealers (NASD) before selling?
Ans: Variable Life
Q: Defamation occurs when an agent makes a false statement intended to
Ans: malign another insurer
