Florida Insurance Exam Questions with Detailed Verified Answers

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Florida Insurance Exam Questions with
Detailed Verified Answers

Question: The clause identifying which losses resulting from an accident or
sickness are insured by the policy is called the:


Ans: Insuring clause


Question: K applies for a life insurance policy on herself and submits the
initial premium with the application. She is given a receipt by the agent stating
that coverage begins immediately if the application is approved. What kind of
receipt was used?


Ans: Conditional


Question: A life insurance arrangement which circumvents insurable interest
statutes is called:


Ans: Investor-Originated Life Insurance


Question: Which of the following health policy provisions states that the
producer does NOT have the authority to change the policy or waive any of its
provisions?


Ans: Entire Contract

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Question: Within how many days after policy delivery can a Medicare
Supplement policy be returned for a 100% premium refund?


Ans: 30


Question: Which of the following is NOT an unfair claim settlement practice?


Ans: Needing written documentation of claim details


Question: Who is NOT required to sign a life insurance application?


Ans: Beneficiary


Question: To be eligible for Social Security disability benefits, an employee
must be unable to perform:


Ans: any occupation


Question: The type of annuity that can be purchased with one monetary
deposit is called a(n):


Ans: Immediate annuity


Question: A life insurance application must be signed by all of these, EXCEPT:


Ans: beneficiary


Question: Which of the following is considered an accurate statement of an
unfair trade practice?

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Ans: Twisting involves an agent using misrepresentation to convince a
policyowner to cancel their current policy so that they can purchase a new life
insurance policy with another company


Question: The Accelerated Death Benefit provision in a life insurance policy is
also known as a(n):


Ans: Living Benefit


Question: Which of the following policy features allows an insured to defer
current health charges to the following year's deductible instead of the current
year's deducitble?


Ans: Carryover provision


Question: Insurance policies are considered aleatory contracts because


Ans: performance is conditioned upon a future occurrence


Question: Within how many days must a licensee notify the Department of
Financial Services of a change in address?


Ans: 30


Question: Which organization was established to provide funds to protect an
insured in the event of an insurer's insolvency?


Ans: Florida Life and Health Insurance Guaranty Association