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FLORIDA 240 LICENSE EXAM 2025 |
QUESTIONS AND CORRECT
ANSWERS
A policy owner would like to change the beneficiary on a Life insurance policy and
make the change permanent. Which type of designation would fulfill this need? -
correct-answer-irrevocable
Which contract permits the remaining partners to buy-out the interest of a
disabled business partner? - correct-answer-Disability Buy-Sell
T and S are named co-primary beneficiaries on a $500,000 Accidental Death and
Dismemberment policy insuring their father. Their mother was named contingent
beneficiary. Five years later, S dies of natural causes and the father is killed in a
scuba accident shortly afterwards. How much of the death benefit will the mother
receive? - correct-answer-$0
Which of the following medical expenses does Cancer insurance NOT cover? -
correct-answer-arthritis
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The difference between group insurance and blanket health policies is: - correct-
answer-Blanket health policies do not issue certificates
Which type of policy would pay an employee's salary if the employer was injured
in a bicycle accident and out of work for six weeks? - correct-answer-Business
Overhead Expense
On an Accidental Death and Dismemberment (AD&D) insurance policy, who is
qualified to change the beneficiary designation? - correct-answer-Policyowner
The Consolidated Omnibus Budget Reconciliation Act (COBRA) gives workers (and
their families) whose employment has been terminated the right to: - correct-
answer-continue group health benefits
K is the insured and P is the sole beneficiary on an Accidental Death and
Dismemberment (AD&D) 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
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How would a contingent beneficiary receive the policy proceeds in an Accidental
Death and Dismemberment (AD&D) policy? - correct-answer-If the primary
beneficiary dies before the insured
Which mode of payment is NOT used by health insurance policies? - correct-
answer-Single Premium
G is an accountant who has ten employees and is concerned about how the
business would survive financially if G became disabled. The type of policy which
BEST addresses this concern is - correct-answer-Business Overhead Expense
Which of the following is the reimbursement of benefits for the treatment of a
beneficiary's injuries caused by a third party? - correct-answer-Subrogation
S is employed by a 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 under COBRA regulations? - correct-answer-36
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When an employee is required to pay a portion of the premium for an
employer/employee group health plan, the employee is covered under which of
the following plans? - correct-answer-contributory
Which of these circumstances is a Business Disability Buy-Sell policy designed to
help in the sale of a business? - correct-answer-Business owner becoming
disabled
An accident policy will most likely pay a benefit for a(n) - correct-answer-off-the-
job accident
An insurance company would MOST likely pay benefits under an Accidental Death
and Dismemberment policy for which of the following losses? - correct-answer-
Loss of eyesight due to an accidental injury
Health Insurance Portability and Accountability Act (HIPAA) gives privacy
protection for: - correct-answer-health information
Under which of the following circumstances will the benefits under COBRA
continuation coverage end? - correct-answer-All group health plans are
terminated by the employer
FLORIDA 240 LICENSE EXAM 2025 |
QUESTIONS AND CORRECT
ANSWERS
A policy owner would like to change the beneficiary on a Life insurance policy and
make the change permanent. Which type of designation would fulfill this need? -
correct-answer-irrevocable
Which contract permits the remaining partners to buy-out the interest of a
disabled business partner? - correct-answer-Disability Buy-Sell
T and S are named co-primary beneficiaries on a $500,000 Accidental Death and
Dismemberment policy insuring their father. Their mother was named contingent
beneficiary. Five years later, S dies of natural causes and the father is killed in a
scuba accident shortly afterwards. How much of the death benefit will the mother
receive? - correct-answer-$0
Which of the following medical expenses does Cancer insurance NOT cover? -
correct-answer-arthritis
, Page |2
The difference between group insurance and blanket health policies is: - correct-
answer-Blanket health policies do not issue certificates
Which type of policy would pay an employee's salary if the employer was injured
in a bicycle accident and out of work for six weeks? - correct-answer-Business
Overhead Expense
On an Accidental Death and Dismemberment (AD&D) insurance policy, who is
qualified to change the beneficiary designation? - correct-answer-Policyowner
The Consolidated Omnibus Budget Reconciliation Act (COBRA) gives workers (and
their families) whose employment has been terminated the right to: - correct-
answer-continue group health benefits
K is the insured and P is the sole beneficiary on an Accidental Death and
Dismemberment (AD&D) 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
, Page |3
How would a contingent beneficiary receive the policy proceeds in an Accidental
Death and Dismemberment (AD&D) policy? - correct-answer-If the primary
beneficiary dies before the insured
Which mode of payment is NOT used by health insurance policies? - correct-
answer-Single Premium
G is an accountant who has ten employees and is concerned about how the
business would survive financially if G became disabled. The type of policy which
BEST addresses this concern is - correct-answer-Business Overhead Expense
Which of the following is the reimbursement of benefits for the treatment of a
beneficiary's injuries caused by a third party? - correct-answer-Subrogation
S is employed by a 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 under COBRA regulations? - correct-answer-36
, Page |4
When an employee is required to pay a portion of the premium for an
employer/employee group health plan, the employee is covered under which of
the following plans? - correct-answer-contributory
Which of these circumstances is a Business Disability Buy-Sell policy designed to
help in the sale of a business? - correct-answer-Business owner becoming
disabled
An accident policy will most likely pay a benefit for a(n) - correct-answer-off-the-
job accident
An insurance company would MOST likely pay benefits under an Accidental Death
and Dismemberment policy for which of the following losses? - correct-answer-
Loss of eyesight due to an accidental injury
Health Insurance Portability and Accountability Act (HIPAA) gives privacy
protection for: - correct-answer-health information
Under which of the following circumstances will the benefits under COBRA
continuation coverage end? - correct-answer-All group health plans are
terminated by the employer
