Florida Health Insurance Exam 2025–2026
Accurate Real Exam 250 Questions and Verified
Correct Answers JUST RELEASED
What health policy provision allows the insured a period of time to examine the policy and
determine whether to keep it? - answer>>>Free-look period
What section of a health insurance policy lists the services for which the insurer will not provide
coverage? - answer>>>Exclusions
Who decides which optional provisions would be included in a health policy? - answer>>>The
insurance company
Which health insurance provision describes the insured's right to cancel coverage? -
answer>>>Renewal provision
An individual participant personally received eligible rollover funds from a profit-sharing plan.
What is the income tax withholding requirements for this transaction? - answer>>>20% is
withheld for income taxes
Which product would best serve a retired individual looking to invest a lump-sum of money
through an insurance company? - answer>>>Annuity
An IRA owner can start making withdrawals and NOT be subjected to a tax penalty beginning at
what age? - answer>>>59 1/2
Traditional individual retirement annuity (IRA) distributions must start by -
answer>>>Distributions from a traditional IRA must be made by April 1 following the year the
participant turns age 70 1/2 or an excise tax will be assessed.
When funds are shifted straight from one IRA to another IRA, what percentage of the tax is
withheld? - answer>>>None
,A qualified profit-sharing plan is designed to - answer>>>allow employees to participate in the
profits of the company
An employee requested that the balance of her 401(k) account be sent directly to her in one lump
sum. Upon receipt of the distribution, she immediately has the funds rolled over into an IRA.
What is the tax consequence of the distribution sent to this employee? - answer>>>Distribution is
subject to federal income tax withholding
How long does an individual have to "rollover" funds from an IRA or qualified plan? -
answer>>>60 days
All of the following statements about traditional individual retirement accounts are false EXCEPT -
answer>>>10% penalty is applied to withdrawals before age 59 1/2
Which of these retirement plans can be started by an employee, even if another plan is in
existence? - answer>>>Individual Retirement Account (IRA)
What is the excise tax rate the IRS imposes on individuals aged 70 1/2 or older who do not take
the required minimum distributions from their qualified retirement plan? - answer>>>50%
Who is normally considered to be the owner of a 403(b) tax-sheltered annuity? - answer>>>The
employee
Tom has a qualified retirement plan with his employer that is currently considered to be 80%
"vested". How can this be interpreted? - answer>>>If Tom's employment is terminated, 20% of
the funds would be forfeited
A retirement plan that sets aside part of the company's net income for distributions to qualified
employees is called a - answer>>>profit-sharing plan
Rick recently died and left behind an individual IRA account in his name. His widow was forwarded
the balance of the IRA. The widow qualifies for the - answer>>>marital deduction
, What does a 401(k) plan generally provide its participants? - answer>>>Salary-deferral
contributions
What is the maximum number of employees (earning at least $5,000) that an employer can have
in order to start a SIMPLE retirement plan? - answer>>>100
Which plan is intended to be used by a sole proprietor and the employees of that business? -
answer>>>Keogh Plan
Post-tax dollar contributions are found in - answer>>>Roth IRA investments
Premature IRA distributions are assessed a penalty tax of - answer>>>10%
An employer that offers a qualified retirement plan to its employees is eligible to -
answer>>>make tax-deductible contributions to the plan
What type of employee welfare plans are not subject to ERISA regulations? - answer>>>Church
plans
Which tax would an IRA participant be subjected to on distributions received prior to age 59 1/2?
- answer>>>Ordinary income tax and a 10% tax penalty for early withdrawal
An individual working part-time has an annual income of $25,000. If this individual has an IRA,
what is the maximum deductible IRA contribution allowable? - answer>>>$25,000
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: -
answer>>>Business Overhead Expense
Which mode of payment is NOT used by health insurance policies? - answer>>>Single Premium
Accurate Real Exam 250 Questions and Verified
Correct Answers JUST RELEASED
What health policy provision allows the insured a period of time to examine the policy and
determine whether to keep it? - answer>>>Free-look period
What section of a health insurance policy lists the services for which the insurer will not provide
coverage? - answer>>>Exclusions
Who decides which optional provisions would be included in a health policy? - answer>>>The
insurance company
Which health insurance provision describes the insured's right to cancel coverage? -
answer>>>Renewal provision
An individual participant personally received eligible rollover funds from a profit-sharing plan.
What is the income tax withholding requirements for this transaction? - answer>>>20% is
withheld for income taxes
Which product would best serve a retired individual looking to invest a lump-sum of money
through an insurance company? - answer>>>Annuity
An IRA owner can start making withdrawals and NOT be subjected to a tax penalty beginning at
what age? - answer>>>59 1/2
Traditional individual retirement annuity (IRA) distributions must start by -
answer>>>Distributions from a traditional IRA must be made by April 1 following the year the
participant turns age 70 1/2 or an excise tax will be assessed.
When funds are shifted straight from one IRA to another IRA, what percentage of the tax is
withheld? - answer>>>None
,A qualified profit-sharing plan is designed to - answer>>>allow employees to participate in the
profits of the company
An employee requested that the balance of her 401(k) account be sent directly to her in one lump
sum. Upon receipt of the distribution, she immediately has the funds rolled over into an IRA.
What is the tax consequence of the distribution sent to this employee? - answer>>>Distribution is
subject to federal income tax withholding
How long does an individual have to "rollover" funds from an IRA or qualified plan? -
answer>>>60 days
All of the following statements about traditional individual retirement accounts are false EXCEPT -
answer>>>10% penalty is applied to withdrawals before age 59 1/2
Which of these retirement plans can be started by an employee, even if another plan is in
existence? - answer>>>Individual Retirement Account (IRA)
What is the excise tax rate the IRS imposes on individuals aged 70 1/2 or older who do not take
the required minimum distributions from their qualified retirement plan? - answer>>>50%
Who is normally considered to be the owner of a 403(b) tax-sheltered annuity? - answer>>>The
employee
Tom has a qualified retirement plan with his employer that is currently considered to be 80%
"vested". How can this be interpreted? - answer>>>If Tom's employment is terminated, 20% of
the funds would be forfeited
A retirement plan that sets aside part of the company's net income for distributions to qualified
employees is called a - answer>>>profit-sharing plan
Rick recently died and left behind an individual IRA account in his name. His widow was forwarded
the balance of the IRA. The widow qualifies for the - answer>>>marital deduction
, What does a 401(k) plan generally provide its participants? - answer>>>Salary-deferral
contributions
What is the maximum number of employees (earning at least $5,000) that an employer can have
in order to start a SIMPLE retirement plan? - answer>>>100
Which plan is intended to be used by a sole proprietor and the employees of that business? -
answer>>>Keogh Plan
Post-tax dollar contributions are found in - answer>>>Roth IRA investments
Premature IRA distributions are assessed a penalty tax of - answer>>>10%
An employer that offers a qualified retirement plan to its employees is eligible to -
answer>>>make tax-deductible contributions to the plan
What type of employee welfare plans are not subject to ERISA regulations? - answer>>>Church
plans
Which tax would an IRA participant be subjected to on distributions received prior to age 59 1/2?
- answer>>>Ordinary income tax and a 10% tax penalty for early withdrawal
An individual working part-time has an annual income of $25,000. If this individual has an IRA,
what is the maximum deductible IRA contribution allowable? - answer>>>$25,000
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: -
answer>>>Business Overhead Expense
Which mode of payment is NOT used by health insurance policies? - answer>>>Single Premium
