Florida Health and Life Insurance State Exam Practice Part 1 Questions with Detailed Verified Answers

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Florida Health and Life Insurance State
Exam Practice Part 1 Questions with
Detailed Verified Answers

Question: Which Accident and Health policy provision addresses preexisting
conditions?


Ans: Time Limit on Certain Defenses


Question: Which of the following individual health insurance policies will
provide the broadest protection?


Ans: Major Medical


Question: Which of the following situations does NOT apply to the Florida
Replacement Rule?


Ans: An existing policyholder purchases an additional policy from the same
insurer


Question: Agent J takes an application and initial premium from an applicant
and sends the application and premium check to the insurance company. The
insurance company returns the check back to J because the check is made out
to J instead of the insurance company. What action should J take?

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Ans: Return to the customer, collect a new check made out to the insurance
company, and send the new check out to the insurance company


Question: Under which of the following circumstances will the benefits under
COBRA continuation coverage end?


Ans: All group health plans are terminated by the employer


Question: Which type of renewability best describes a Disability Income
policy that covers an individual until the age of 65, but the insurer has the right
to change the premium rate for the overall risk class?


Ans: Garunteed Renewable


Question: An incomplete life insurance application submitted to an insurer
will result in which of these actions?


Ans: Application will be returned to the writting agent


Question: The waiting period for a pre-existing condition under a Medicare
Supplement policy may NOT go beyond


Ans: 6 Months


Question: Which of these statements is INCORRECT regarding the federal
income tax treatment of life insurance?


Ans: Entire cash surrender value is taxable

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Question: Which of these is considered a mandatory provision?


Ans: Payment of Claims


Question: Which of the following actions will an insurance company most
likely NOT take if an applicant, who has diabetes, applies for a Disability
Income policy?


Ans: Issue the policy with an altered Time of Payment of Claims provision


Question: Which of the following phrases refers to the fees charged by a
healthcare professional?


Ans: Usual, customary, and reasonable expenses


Question: D was actively serving in the Marines when he was killed in an
automobile accident while on leave. His $100,000 Whole life policy contains a
War Exclusion clause. How much will D's beneficiary's receive?


Ans: The full face amount


Question: N is covered under an individual Disability policy with a 30-day
Elimination period and a monthly benefit of $500. N is totally disabled for 3 1/2
months. N's total benefit received on this claim is: