Florida 2-15 Insurance License ACTUAL EXAM (2025)
QUESTIONS AND (elaborated) WITH COMPLETE SOLUTIONS
__________ 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.
- ✔✔Churning
___________ refers to the monies set aside by insurers for
future claims costs. - ✔✔Reserve funds
____________ term insurance provides a level amount of
protection for a specified period, after which the policy
expires. - ✔✔Level
_____________ health insurance is issued to cover a group
who may be exposed to the same risks, but the composition
of the group is constantly changing. - ✔✔Blanket
_______________ policies are commonly used as a hedge
against inflation to ward off decreased purchasing power. -
✔✔Increasing term
,__________________ are the two most important factors in
the health insurance underwriting process. - ✔✔Medical
history and occupation
"ACC" refers to the type of disability that prevents someone
from performing the job he was performing prior to the
disability. - ✔✔FALSE
A _____________ group involves combining several parties
into a group for the purpose of obtaining insurance. -
✔✔fictitious
A complete examination of an HMO's affairs is conducted at
least: - ✔✔once every five years.
A group life insurance plan in which the employer pays the
entire premium is known as a ________________ plan. -
✔✔noncontributory
A health plan with a $5-per-point conversion factor would pay
_______ for a 200-point procedure. - ✔✔$1,000
, A life insurance policy will not be reinstated if it has been: -
✔✔surrendered for its cash value.
A life insurance policy's cash value belongs to the insured. -
✔✔FALSE
A man commits suicide 30 months after purchasing a life
insurance policy and his wife is the named beneficiary. What
amount will his wife receive? - ✔✔The face amount of the
policy
A medical expense policy states that it will pay a flat $200 a
day for each day of hospitalization. The policy pays benefits
on what basis? - ✔✔Indemnity
A portion of a mutual insurer's premiums are paid out as
policy dividends and are considered: - ✔✔refunds
A prospectus for an individual variable insurance contract: -
✔✔must accompany every sales presentation.
QUESTIONS AND (elaborated) WITH COMPLETE SOLUTIONS
__________ 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.
- ✔✔Churning
___________ refers to the monies set aside by insurers for
future claims costs. - ✔✔Reserve funds
____________ term insurance provides a level amount of
protection for a specified period, after which the policy
expires. - ✔✔Level
_____________ health insurance is issued to cover a group
who may be exposed to the same risks, but the composition
of the group is constantly changing. - ✔✔Blanket
_______________ policies are commonly used as a hedge
against inflation to ward off decreased purchasing power. -
✔✔Increasing term
,__________________ are the two most important factors in
the health insurance underwriting process. - ✔✔Medical
history and occupation
"ACC" refers to the type of disability that prevents someone
from performing the job he was performing prior to the
disability. - ✔✔FALSE
A _____________ group involves combining several parties
into a group for the purpose of obtaining insurance. -
✔✔fictitious
A complete examination of an HMO's affairs is conducted at
least: - ✔✔once every five years.
A group life insurance plan in which the employer pays the
entire premium is known as a ________________ plan. -
✔✔noncontributory
A health plan with a $5-per-point conversion factor would pay
_______ for a 200-point procedure. - ✔✔$1,000
, A life insurance policy will not be reinstated if it has been: -
✔✔surrendered for its cash value.
A life insurance policy's cash value belongs to the insured. -
✔✔FALSE
A man commits suicide 30 months after purchasing a life
insurance policy and his wife is the named beneficiary. What
amount will his wife receive? - ✔✔The face amount of the
policy
A medical expense policy states that it will pay a flat $200 a
day for each day of hospitalization. The policy pays benefits
on what basis? - ✔✔Indemnity
A portion of a mutual insurer's premiums are paid out as
policy dividends and are considered: - ✔✔refunds
A prospectus for an individual variable insurance contract: -
✔✔must accompany every sales presentation.
