FLA 0214 Final Exam Question &
Answers 2025
Common Disaster Clause provides that if both the insured and the sole
named beneficiary were to die in a common accident, which of the
following is true? - CORRECT ANSWERS ✔✔This clause provides the
payment of proceeds to the insured's estate
Under a life insurance policy the ___ has the authority to name the
beneficiary? - CORRECT ANSWERS ✔✔owner
B recently died and was insured with a life insurance policy for over five
years. During the claims process, the insurer discovered that B had
understated his age by 5 years at the time of application. In this
situation, the insurer will - CORRECT ANSWERS ✔✔Pay the amount
that the premium would have purchased at the correct age.
Which Unfair Trade Practice involves an agent suggesting that an
insurance policy is like a share of stock?
*Twisting
*Intimidation
*Misrepresentation
*Sliding - CORRECT ANSWERS ✔✔misrepresentation
L takes out a life insurance policy and dies 10 years later. During the
claim process, the insurer discovers that L had understated her age on
,FLA 0214 Final Exam Question &
Answers 2025
the application. Under the Misstatement of Age provision, the insurer
will - CORRECT ANSWERS ✔✔adjust the death benefit to a reduced
amount
W gave W's age as 50 when W purchased a Life policy. At the time of
W's death seven years later, the company discovered W's true age at
issue had been 59. What would the normal procedure be under the
misstatement of age provision in regard to the payment of the death
claim? - CORRECT ANSWERS ✔✔The proceeds would be reduced
based on whatever the premium would have been if purchased at age
59
The financial services commission may hold hearings - CORRECT
ANSWERS ✔✔for any reason deemed necessary
In Florida, which agency is responsible for the rehabilitation or
liquidation of insurers? - CORRECT ANSWERS ✔✔The Department of
Financial Services
All of the following entries are classified under the four principles areas
of Florida insurance law EXCEPT - CORRECT ANSWERS ✔✔An agent's
commission
All of the following are Nonforfeiture Options EXCEPT - CORRECT
ANSWERS ✔✔Automatic Premium Loan Option
, FLA 0214 Final Exam Question &
Answers 2025
Under federal tax laws, what is the tax treatment for an employer
providing $50,000 of a contributory group Term Life plan to all its
eligible employees? - CORRECT ANSWERS ✔✔Portion of the
premiums paid for by the employer may be a tax deduction
What group term life feature permits an individual to depart from the
group and continue to be covered without providing evidence of
insurability? - CORRECT ANSWERS ✔✔Conversion
A return of Premium life insurance policy is: - CORRECT ANSWERS
✔✔Whole life and Increasing term
Which of the following is the best description of 'insurer'? - CORRECT
ANSWERS ✔✔Any person, corporation, association or society that
writes insurance contracts
How are Roth IRA distributions normally taxed? - CORRECT ANSWERS
✔✔Distributions are received tax-free
What kind of policy either pays the face value upon the death of the
insured or when the insured reaches age 100? - CORRECT ANSWERS
✔✔Whole Life
Answers 2025
Common Disaster Clause provides that if both the insured and the sole
named beneficiary were to die in a common accident, which of the
following is true? - CORRECT ANSWERS ✔✔This clause provides the
payment of proceeds to the insured's estate
Under a life insurance policy the ___ has the authority to name the
beneficiary? - CORRECT ANSWERS ✔✔owner
B recently died and was insured with a life insurance policy for over five
years. During the claims process, the insurer discovered that B had
understated his age by 5 years at the time of application. In this
situation, the insurer will - CORRECT ANSWERS ✔✔Pay the amount
that the premium would have purchased at the correct age.
Which Unfair Trade Practice involves an agent suggesting that an
insurance policy is like a share of stock?
*Twisting
*Intimidation
*Misrepresentation
*Sliding - CORRECT ANSWERS ✔✔misrepresentation
L takes out a life insurance policy and dies 10 years later. During the
claim process, the insurer discovers that L had understated her age on
,FLA 0214 Final Exam Question &
Answers 2025
the application. Under the Misstatement of Age provision, the insurer
will - CORRECT ANSWERS ✔✔adjust the death benefit to a reduced
amount
W gave W's age as 50 when W purchased a Life policy. At the time of
W's death seven years later, the company discovered W's true age at
issue had been 59. What would the normal procedure be under the
misstatement of age provision in regard to the payment of the death
claim? - CORRECT ANSWERS ✔✔The proceeds would be reduced
based on whatever the premium would have been if purchased at age
59
The financial services commission may hold hearings - CORRECT
ANSWERS ✔✔for any reason deemed necessary
In Florida, which agency is responsible for the rehabilitation or
liquidation of insurers? - CORRECT ANSWERS ✔✔The Department of
Financial Services
All of the following entries are classified under the four principles areas
of Florida insurance law EXCEPT - CORRECT ANSWERS ✔✔An agent's
commission
All of the following are Nonforfeiture Options EXCEPT - CORRECT
ANSWERS ✔✔Automatic Premium Loan Option
, FLA 0214 Final Exam Question &
Answers 2025
Under federal tax laws, what is the tax treatment for an employer
providing $50,000 of a contributory group Term Life plan to all its
eligible employees? - CORRECT ANSWERS ✔✔Portion of the
premiums paid for by the employer may be a tax deduction
What group term life feature permits an individual to depart from the
group and continue to be covered without providing evidence of
insurability? - CORRECT ANSWERS ✔✔Conversion
A return of Premium life insurance policy is: - CORRECT ANSWERS
✔✔Whole life and Increasing term
Which of the following is the best description of 'insurer'? - CORRECT
ANSWERS ✔✔Any person, corporation, association or society that
writes insurance contracts
How are Roth IRA distributions normally taxed? - CORRECT ANSWERS
✔✔Distributions are received tax-free
What kind of policy either pays the face value upon the death of the
insured or when the insured reaches age 100? - CORRECT ANSWERS
✔✔Whole Life
