Florida Life & Health Insurance Final
Exam
A group plan was recently terminated. In Florida, how many days are covered
individuals guaranteed coverage after a group plan's termination? - ANS-31 days
\A licensed agent must be appointed by an insurance company to solicit insurance in
Florida. The agent's license will terminate if a certain period of time elapses without
being appointed. How long is this period of time? - ANS-48 months
\A life insurance policy owner may sell their policy to a(n) _ in order to receive a
percentage of the policy's face value. - ANS-Viatical Settlement Provider
\A life policy loan in Florida cannot charge a fixed rate of interest higher than... -
ANS-10%
\A long-term care lapse notice must be delivered to both the applicant and.. -
ANS-Secondary addressee
\A Long-Term Care policy must offer a MINIMUM benefit period of how many
months? - ANS-12
\A Multiple Employer Welfare Arrangement MEWA provides what type of benefits? -
ANS-Insurance
\A stock insurance company is owned by... - ANS-Its stockholders
\A stock life insurance company that issues both participating and nonparticipating
policies is doing business on... - ANS-Mixed Plan
\A variable life insurance agent must be licensed and appointed as a life and variable
contact agent as well as... - ANS-Broker dealer
\A written agreement to provide a Life Insurance Policy holder immediate cash in
exchange for the sale and transfer of a Life Insurance Policy is... - ANS-A Viatical
Settlement
\According to Florida Law, an additional lapse notice must be issued after the
standard grace period has expired for policyowners age... - ANS-64 years or older
\According to Florida law, group life insurance conversions privileges must NOT... -
ANS-Require evidence of insurability
\According to Florida Law, in which of the following situations would a dependent
handicapped child NOT be covered under a Family Health Policy? - ANS-The
premiums for the handicapped child are not paid
\According to Florida Law, which of the following information does NOT need to be
obtained by an agent recommending an annuity purchase? - ANS-Marital status
\According to Florida Law, which of the following statements accurately describes an
admitted mail order insurance company? - ANS-It may solicit insurance business by
mail without the assistance of a licensed agent
, \According to Florida's life insurance replacement laws, a policy owner must be
provided with a written Comparison and Summary Statement when it's requested
by... - ANS-The policy owner
\According to Florida's rules on disclosure, a life insurance applicant is expected to
be provided with... - ANS-A Buyer's Guide and Policy Summary
\Agents that have been licensed for less than 6 years must complete __ hours of
continuing education every two years. - ANS-24
\All of the following entries are classified under the four principal areas of Florida
Insurance Law EXCEPT: - ANS-An agent's commission
\All of the following provisions are required in a group life policy EXCEPT... - ANS-An
Accidental Death and Dismemberment provision
\All of the following provisions must be included in life insurance policies EXCEPT... -
ANS-Extended Term
\All of the following statements about health coverage for newborns are correct
EXCEPT... - ANS-coverage during the first year is limited to congenital defects
\All of the following statements about health coverage for physically handicapped
dependents of insureds are correct EXCEPT that the dependent must... - ANS-Have
been over ten years of age when the handicap incurred
\An agent MUST give a prospective insured an Outline of Coverage when taking an
application for... - ANS-Medicare Supplement Policy
\An agent selling Medicare Supplement policies must provide every applicant with
a(n) - ANS-A Suitability form
\An individual covered under a Group Life insurance policy is considered to be... -
ANS-A certificate holder
\An insurance company can contest a life insurance contract due to application fraud
within... - ANS-2 years
\An Outline of Coverage for a Medicare Supplement policy MUST be given to the
applicant at which of the following times? - ANS-The time of application
\Association Plans that are designed to provide health benefits to their members are
regulated by the state because... - ANS-They are insured by an authorized insurer
\Disclosure standards require that which of the following be delivered with a
Medicare Supplement policy? - ANS-The Outline of Coverage
\Employers with less than __ employees are affected by Florida's Health Insurance
Coverage Continuation Act (Mini COBRA). - ANS-20
\Florida requires that an insurance agent must complete __ hours of continuing
education on the subject of law and ethics every two years. - ANS-5
\Florida requires that coverage for newborns begins "from the moment of birth" and
continues for... - ANS-18 months
\Group life policies MUST include all of the following provisions EXCEPT... -
ANS-Right to loan proceeds
\If an agent would like to sell Variable annuities which state examination must the
agent pass? - ANS-Life and Variable Contracts
\If, at the time of an insured's death, the insurance company discovers that the
insured's age was misstated on the application for life insurance, the company will
Exam
A group plan was recently terminated. In Florida, how many days are covered
individuals guaranteed coverage after a group plan's termination? - ANS-31 days
\A licensed agent must be appointed by an insurance company to solicit insurance in
Florida. The agent's license will terminate if a certain period of time elapses without
being appointed. How long is this period of time? - ANS-48 months
\A life insurance policy owner may sell their policy to a(n) _ in order to receive a
percentage of the policy's face value. - ANS-Viatical Settlement Provider
\A life policy loan in Florida cannot charge a fixed rate of interest higher than... -
ANS-10%
\A long-term care lapse notice must be delivered to both the applicant and.. -
ANS-Secondary addressee
\A Long-Term Care policy must offer a MINIMUM benefit period of how many
months? - ANS-12
\A Multiple Employer Welfare Arrangement MEWA provides what type of benefits? -
ANS-Insurance
\A stock insurance company is owned by... - ANS-Its stockholders
\A stock life insurance company that issues both participating and nonparticipating
policies is doing business on... - ANS-Mixed Plan
\A variable life insurance agent must be licensed and appointed as a life and variable
contact agent as well as... - ANS-Broker dealer
\A written agreement to provide a Life Insurance Policy holder immediate cash in
exchange for the sale and transfer of a Life Insurance Policy is... - ANS-A Viatical
Settlement
\According to Florida Law, an additional lapse notice must be issued after the
standard grace period has expired for policyowners age... - ANS-64 years or older
\According to Florida law, group life insurance conversions privileges must NOT... -
ANS-Require evidence of insurability
\According to Florida Law, in which of the following situations would a dependent
handicapped child NOT be covered under a Family Health Policy? - ANS-The
premiums for the handicapped child are not paid
\According to Florida Law, which of the following information does NOT need to be
obtained by an agent recommending an annuity purchase? - ANS-Marital status
\According to Florida Law, which of the following statements accurately describes an
admitted mail order insurance company? - ANS-It may solicit insurance business by
mail without the assistance of a licensed agent
, \According to Florida's life insurance replacement laws, a policy owner must be
provided with a written Comparison and Summary Statement when it's requested
by... - ANS-The policy owner
\According to Florida's rules on disclosure, a life insurance applicant is expected to
be provided with... - ANS-A Buyer's Guide and Policy Summary
\Agents that have been licensed for less than 6 years must complete __ hours of
continuing education every two years. - ANS-24
\All of the following entries are classified under the four principal areas of Florida
Insurance Law EXCEPT: - ANS-An agent's commission
\All of the following provisions are required in a group life policy EXCEPT... - ANS-An
Accidental Death and Dismemberment provision
\All of the following provisions must be included in life insurance policies EXCEPT... -
ANS-Extended Term
\All of the following statements about health coverage for newborns are correct
EXCEPT... - ANS-coverage during the first year is limited to congenital defects
\All of the following statements about health coverage for physically handicapped
dependents of insureds are correct EXCEPT that the dependent must... - ANS-Have
been over ten years of age when the handicap incurred
\An agent MUST give a prospective insured an Outline of Coverage when taking an
application for... - ANS-Medicare Supplement Policy
\An agent selling Medicare Supplement policies must provide every applicant with
a(n) - ANS-A Suitability form
\An individual covered under a Group Life insurance policy is considered to be... -
ANS-A certificate holder
\An insurance company can contest a life insurance contract due to application fraud
within... - ANS-2 years
\An Outline of Coverage for a Medicare Supplement policy MUST be given to the
applicant at which of the following times? - ANS-The time of application
\Association Plans that are designed to provide health benefits to their members are
regulated by the state because... - ANS-They are insured by an authorized insurer
\Disclosure standards require that which of the following be delivered with a
Medicare Supplement policy? - ANS-The Outline of Coverage
\Employers with less than __ employees are affected by Florida's Health Insurance
Coverage Continuation Act (Mini COBRA). - ANS-20
\Florida requires that an insurance agent must complete __ hours of continuing
education on the subject of law and ethics every two years. - ANS-5
\Florida requires that coverage for newborns begins "from the moment of birth" and
continues for... - ANS-18 months
\Group life policies MUST include all of the following provisions EXCEPT... -
ANS-Right to loan proceeds
\If an agent would like to sell Variable annuities which state examination must the
agent pass? - ANS-Life and Variable Contracts
\If, at the time of an insured's death, the insurance company discovers that the
insured's age was misstated on the application for life insurance, the company will
