Florida 2-15 Insurance License Exam
questions and answers 2024\2025 A+
Grade
Accumulation units are converted into annuity units:
- correct 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.
- correct 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.
- correct answer FALSE
Robert had an accident and qualified for Social Security disability. Given the waiting period, when will
Robert begin to receive benefits?
- correct answer After 5 months
The Insuring Clause includes all of the following EXCEPT the
- correct answer beneficiary
Mutualization occurs when a stock company turns to a __________ company.
- correct answer mutual
To provide a safeguard for insureds, most major medical policies contain a ____________ feature that
limits the insured's out-of-pocket expenses.
- correct 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?
- correct 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.
- correct 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.
- correct answer FALSE
Which statement is CORRECT about the Department of Financial Services' right to examine an agent's
records?
- correct 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:
- correct answer rebating
____________ term insurance provides a level amount of protection for a specified period, after which
the policy expires.
- correct answer Level
Business overhead expense (B.O.E.) insurance does not provide benefits to cover the business owner's
salary.
- correct answer TRUE
Level, decreasing, and increasing insurance are all basic forms of ____________ insurance.
- correct answer term
Hospice services are covered under Medicare Part A.
- correct answer TRUE
, Under Florida law, group health insurers must offer mental and nervous disorder insurance to
policyowners.
- correct answer TRUE
Deductibles under a group major medical plan usually run from $250 to $500; whereas individual health
plans usually run from:
- correct answer $1,000 plus.
Every HMO subscriber must receive a benefits package that includes a copy of the HMO contract and
certificate, and:
- correct answer a member's handbook.
A life insurance policy will not be reinstated if it has been:
- correct answer surrendered for its cash value.
Which of the following is NOT a type of permanent life insurance?
- correct answer Term Life
In Florida, a ______________ must sign for and on behalf of a minor purchasing life insurance.
- correct answer parent or legal guardian
When an agent spreads a false story that damages a competing agent's reputation, the offense is called:
- correct answer defamation
__________ is when policy values of an insurance policy are used to purchase another policy with the
same insurer for the sole purpose of earning additional premiums or commissions.
- correct answer Churning
Once an organization has filed an application to conduct insurance business, the Office of Insurance
Regulation will begin its review for issuing a(n):
- correct answer Certificate of Authority
Florida law requires health insurance policies and HMO contracts to provide coverage for all medically
necessary equipment, supplies and services used to treat diabetes when the patient's physician certifies
questions and answers 2024\2025 A+
Grade
Accumulation units are converted into annuity units:
- correct 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.
- correct 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.
- correct answer FALSE
Robert had an accident and qualified for Social Security disability. Given the waiting period, when will
Robert begin to receive benefits?
- correct answer After 5 months
The Insuring Clause includes all of the following EXCEPT the
- correct answer beneficiary
Mutualization occurs when a stock company turns to a __________ company.
- correct answer mutual
To provide a safeguard for insureds, most major medical policies contain a ____________ feature that
limits the insured's out-of-pocket expenses.
- correct 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?
- correct 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.
- correct 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.
- correct answer FALSE
Which statement is CORRECT about the Department of Financial Services' right to examine an agent's
records?
- correct 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:
- correct answer rebating
____________ term insurance provides a level amount of protection for a specified period, after which
the policy expires.
- correct answer Level
Business overhead expense (B.O.E.) insurance does not provide benefits to cover the business owner's
salary.
- correct answer TRUE
Level, decreasing, and increasing insurance are all basic forms of ____________ insurance.
- correct answer term
Hospice services are covered under Medicare Part A.
- correct answer TRUE
, Under Florida law, group health insurers must offer mental and nervous disorder insurance to
policyowners.
- correct answer TRUE
Deductibles under a group major medical plan usually run from $250 to $500; whereas individual health
plans usually run from:
- correct answer $1,000 plus.
Every HMO subscriber must receive a benefits package that includes a copy of the HMO contract and
certificate, and:
- correct answer a member's handbook.
A life insurance policy will not be reinstated if it has been:
- correct answer surrendered for its cash value.
Which of the following is NOT a type of permanent life insurance?
- correct answer Term Life
In Florida, a ______________ must sign for and on behalf of a minor purchasing life insurance.
- correct answer parent or legal guardian
When an agent spreads a false story that damages a competing agent's reputation, the offense is called:
- correct answer defamation
__________ is when policy values of an insurance policy are used to purchase another policy with the
same insurer for the sole purpose of earning additional premiums or commissions.
- correct answer Churning
Once an organization has filed an application to conduct insurance business, the Office of Insurance
Regulation will begin its review for issuing a(n):
- correct answer Certificate of Authority
Florida law requires health insurance policies and HMO contracts to provide coverage for all medically
necessary equipment, supplies and services used to treat diabetes when the patient's physician certifies
