Florida 2-15 Insurance License Exam
completely solved
Accumulation units are converted into annuity units: - Answer at the time of annuity payout.
A group life insurance plan in which the employer pays the entire premium is known as a
________________ plan. - Answer noncontributory
If a disabled worker covered under Social Security disability benefits recovers and then is disabled again
within five years, a new waiting period is required before benefits begin again. - Answer FALSE
Robert had an accident and qualified for Social Security disability. Given the waiting period, when will
Robert begin to receive benefits? - Answer After 5 months
The Insuring Clause includes all of the following EXCEPT the - Answer beneficiary
Mutualization occurs when a stock company turns to a __________ company. - Answer mutual
To provide a safeguard for insureds, most major medical policies contain a ____________ feature that
limits the insured's out-of-pocket expenses. - Answer stop-loss
Tom is a newly appointed life, health and variable annuity agent with Acme Insurance Agency. He is
writing his first insurance policy on his brother-in-law's life. Who does Tom legally represent in this
transaction? - Answer Acme Insurance Agency
An insurance clause is a distinct article in a formal document that establishes the rules in the contract
that _____________________ must adhere to. - Answer both the insurer and the insured
"ACC" refers to the type of disability that prevents someone from performing the job he was performing
prior to the disability. - Answer FALSE
, Which statement is CORRECT about the Department of Financial Services' right to examine an agent's
records? - Answer An examination can be conducted at any time to discover any unfair trade practices.
Bill gives Jim a couple of tickets to a Florida Gators game to thank him for purchasing a policy. This is an
example of: - Answer rebating
____________ term insurance provides a level amount of protection for a specified period, after which
the policy expires. - Answer Level
Business overhead expense (B.O.E.) insurance does not provide benefits to cover the business owner's
salary. - Answer TRUE
Level, decreasing, and increasing insurance are all basic forms of ____________ insurance. - Answer
term
Hospice services are covered under Medicare Part A. - Answer TRUE
Under Florida law, group health insurers must offer mental and nervous disorder insurance to
policyowners. - Answer TRUE
Deductibles under a group major medical plan usually run from $250 to $500; whereas individual health
plans usually run from: - Answer $1,000 plus.
Every HMO subscriber must receive a benefits package that includes a copy of the HMO contract and
certificate, and: - Answer a member's handbook.
A life insurance policy will not be reinstated if it has been: - Answer surrendered for its cash value.
Which of the following is NOT a type of permanent life insurance? - Answer Term Life
In Florida, a ______________ must sign for and on behalf of a minor purchasing life insurance. - Answer
parent or legal guardian
completely solved
Accumulation units are converted into annuity units: - Answer at the time of annuity payout.
A group life insurance plan in which the employer pays the entire premium is known as a
________________ plan. - Answer noncontributory
If a disabled worker covered under Social Security disability benefits recovers and then is disabled again
within five years, a new waiting period is required before benefits begin again. - Answer FALSE
Robert had an accident and qualified for Social Security disability. Given the waiting period, when will
Robert begin to receive benefits? - Answer After 5 months
The Insuring Clause includes all of the following EXCEPT the - Answer beneficiary
Mutualization occurs when a stock company turns to a __________ company. - Answer mutual
To provide a safeguard for insureds, most major medical policies contain a ____________ feature that
limits the insured's out-of-pocket expenses. - Answer stop-loss
Tom is a newly appointed life, health and variable annuity agent with Acme Insurance Agency. He is
writing his first insurance policy on his brother-in-law's life. Who does Tom legally represent in this
transaction? - Answer Acme Insurance Agency
An insurance clause is a distinct article in a formal document that establishes the rules in the contract
that _____________________ must adhere to. - Answer both the insurer and the insured
"ACC" refers to the type of disability that prevents someone from performing the job he was performing
prior to the disability. - Answer FALSE
, Which statement is CORRECT about the Department of Financial Services' right to examine an agent's
records? - Answer An examination can be conducted at any time to discover any unfair trade practices.
Bill gives Jim a couple of tickets to a Florida Gators game to thank him for purchasing a policy. This is an
example of: - Answer rebating
____________ term insurance provides a level amount of protection for a specified period, after which
the policy expires. - Answer Level
Business overhead expense (B.O.E.) insurance does not provide benefits to cover the business owner's
salary. - Answer TRUE
Level, decreasing, and increasing insurance are all basic forms of ____________ insurance. - Answer
term
Hospice services are covered under Medicare Part A. - Answer TRUE
Under Florida law, group health insurers must offer mental and nervous disorder insurance to
policyowners. - Answer TRUE
Deductibles under a group major medical plan usually run from $250 to $500; whereas individual health
plans usually run from: - Answer $1,000 plus.
Every HMO subscriber must receive a benefits package that includes a copy of the HMO contract and
certificate, and: - Answer a member's handbook.
A life insurance policy will not be reinstated if it has been: - Answer surrendered for its cash value.
Which of the following is NOT a type of permanent life insurance? - Answer Term Life
In Florida, a ______________ must sign for and on behalf of a minor purchasing life insurance. - Answer
parent or legal guardian
