- Study guides, Class notes & Summaries

Florida 2-15 Life Insurance License (FL 2-15) Exams | Bundled Package | Latest 2025/2026. Actual tests, FL 2,-15 insurance exams, Life and health insurance exams

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23 items

AdelineJean

215 FL License exam | Questions and Correct Solutions | latest Update 2024/2025| Graded A+ Which of the following documents must an agent submit to the replacing insurance company during the replacement of an existing life insurance policy? - Answer -Notice to existing and replacing insurers of intention to replace Which of the following is not considered rebating? - Answer -Sharing commissions with an agent licensed in the same line of business According to Florida law which of the fol...

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22 pages

Written in 2024/2025

Grade A+

AdelineJean

FL 2-15 Practice | Questions and Correct Solutions | Latest Update 2024/2025 | Graded A+ What type of insurance contract contains unequal contingencies on the potential for profit or loss on both parties in the contract? - Answer - Aleatory of contract There is an element of chance for both parties. Dollar given by policy holder (premiums) and the insurer (benefits) may not be equal Every licensee must notify the Department of Financial Services within ____ days after changing his or he...

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50 pages

Written in 2024/2025

Grade A+

AdelineJean

FL 2-15 Insurance. Chapter 1 exam | Questions and Correct Solutions | Latest Update 2024/2025 | Graded A+ Purpose of Insurance - Answer -To replace the uncertainties of risk with guarantees. Purpose of Health Insurance - Answer -To offset financial loss upon the premature death of an individual Purpose of Health Insurance - Answer -To offset financial loss upon sickness, illness, injuries and disability. Health Insurance - Answer -Also known as Disability Insurance Purpose of Annuitie...

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5 pages

Written in 2024/2025

Grade A+

AdelineJean

Florida 2-15 Overview/ Study Guide (Fool Proof Guide): Annuities | Questions and Correct Solutions | Latest Update 2024/2025 | Graded A+ Annuity - Answer -A savings plan within an insurance company instead of a bank. - An annuity is not considered insurance, but the life insurance industry handles them Fixed Annuity - Answer -A savings plan with an insurance company with a minimum guaranteed interest rate Accumulation Period - Answer -The period in an annuity where the savings is bui...

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5 pages

Written in 2024/2025

Grade A+

AdelineJean

Exam FX Chapter 2- Types of Life Insurance Policies | Questions and Correct Solutions | Latest Update 2024/2025 | Graded A+ What is another name for interest-sensitive whole life insurance? - Answer -Current assumption life An insured purchased a Life Insurance policy. The agent told him that depending upon the company's investments and expense factors, the cash values could change from those shown in the policy at issue time. The policy is a/an - Answer -interest-sensitive whole life ...

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3 pages

Written in 2024/2025

Grade A+

AdelineJean

FL Life and Health Insurance 2-15 Study Exam (165 questions) | Questions and Correct Solutions | Latest Update 2024/2025 | Graded A+ N is covered by a Term Life policy and does not make the required premium payment which was due August 1. N dies September 15. What action will the insurer take? - Answer -Claim will be denied. A contract where one party either accepts or rejects the terms of a contract written by another party is called a contract of - Answer - adhesion All of the follo...

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20 pages

Written in 2024/2025

Grade A+

AdelineJean

FL 2-15 types of life insurance policies | Questions and Correct Solutions | latest Update 2024/2025 | Graded A+ what policy component must decrease in decreasing term insurance? - Answer -face amount can a business or a corporation be an annuitant? - Answer -no, an annuitant must always be a natural person if the annuitant dies during the accumulation period, who will receive the annuity benefits? - Answer -beneficiary a whole life policy that requires that the policyowner only pays ...

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7 pages

Written in 2024/2025

Grade A+

AdelineJean

Florida 215 exam Questions and Correct Solutions | Latest Update 2024/2025 | Graded A+ According to Florida's Standard Valuation Law, the __________________ is mandatory. 1) Certificate of Authority 2) Director of the Office of Insurance Regulation 3) legal reserve - Answer -legal reserve Group health plans that are issued by mutual companies usually: 1) provide for dividends. 2) issue experience-rated plans. 3) are noncancellable for a period of two years. 4) are renewable after a ...

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42 pages

Written in 2024/2025

Grade A+

AdelineJean

Florida 215 Test | Questions and Correct Solutions | Latest Update 2024/2025 | Graded A+ A medigap policy is a Medicare supplement insurance policy sold by private insurance companies to : - Answer -Fill the gaps in medicare part a and b Generally Noncontributory group health plans require what percentage of participation by eligible members ? - Answer -100% Are there certain standards and procedures that must be followed in order to make reccomendations for annuity products to consumer...

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14 pages

Written in 2024/2025

Grade A+

AdelineJean

Florida 215 Exam | Questions and Correct Solutions | Latest Update 2024/2025 | Graded A+ Nondisabling Injury Provision - Answer -A person who has a disability income policy and suffers from a disability that is not serious enough to qualify them for disability income benefits may receive the actual cost of medical treatment for accident-related injuries under the: The following statement(s) about HMOs is/are CORRECT? - Answer - HMOs stress preventive care, rarely assess deductibles, and ...

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14 pages

Written in 2024/2025

Grade A+

AdelineJean

2-15 Final Exam | Questions and Correct Answers | latest Update 2024/2025 | Graded A+ 1. An employer pays $90 of a $100 group disability premium, and the employee pays the other $10. The disability benefit under the plan is $1,000/month. If the employee becomes disabled and receives the full benefit, how much, if any, of the monthly benefit would be taxable income? - Answer -900 2. Basic surgical expense policies generally provide coverage for all of the following EXCEPT - Answer -misce...

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12 pages

Written in 2024/2025

Grade A+

AdelineJean

Fl Life, Health and Annuities Licensing 2-15 exam | Questions and Correct Solutions | Latest Update 2024/2025 | Graded A+ 3 ways insurance contracts are different than other legally binding documents - Answer -Number one. They are aleatory. Meaning the insured pays a premium but may not receive anything back. Number 2. They are contracts of adhesion meaning the contract was prepared by one party. number 3. They are unilateral meaning only the insurance company promises anything in the ...

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21 pages

Written in 2024/2025

Grade A+

AdelineJean

Florida Insurance Exam | Questions and Correct Solutions | Latest Update 2024/2025 | Graded A+ The clause identifying which losses resulting from an accident or sickness are insured by the policy is called the: - Answer -Insuring clause K applies for a life insurance policy on herself and submits the initial premium with the application. She is given a receipt by the agent stating that coverage begins immediately if the application is approved. What kind of receipt was used? - Answer -Co...

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18 pages

Written in 2024/2025

Grade A+

AdelineJean

Florida 2 15 Social insurance exam | Questions and Correct Solutions | Latest Update 2024/2025 | Graded A+ What Medicare part provides a prescription drugs benefit? - Answer - Part D An insured with Medicare Part D has reached the initial benefit limit and must now pay a portion of prescription drugs cost. What is the term for this gap in coverage? - Answer -The donut hole What is another name for Medicare Advantage plans? - Answer -Part C Who qualifies for Medicare? - Answer -People 6...

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2 pages

Written in 2024/2025

Grade A+

AdelineJean

Florida 2-15 exam | Questions and Correct Solutions |Latest Update 2024/2025 | Graded A+ In a 3 partner cross-purchase plan, how many policies need to be purchased in order to protect each partner against the loss of any other partner? - Answer -6 According to the NAIC Life Insurance Solicitation Model, when soliciting life insurance, a producer is required to provide a prospect with a ______ and a _______ specific to the product being marketed. - Answer -general buyer's guide; policy ...

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8 pages

Written in 2024/2025

Grade A+

AdelineJean

Florida 2-15 Insurance | Questions and Correct Solutions | Latest Update 2024/2025 | Graded A+ In the insurance business, risk can best be defined as: A. sharing the possibility of a loss B. uncertainty regarding the future C. uncertainty regarding financial loss D. uncertainty regarding when death will occur - Answer -C. The concept of insurance developed from the need to minimize the adverse effects of risk associated with the probability of financial loss. Which of the following ris...

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49 pages

Written in 2024/2025

Grade A+

AdelineJean

Life, Health, & Annuity 2-15 Exam | Questions and Correct Solutions | Latest Update 2024/2025 | Graded A+ Replacing a life insurance policy - Answer -When replacing a life insurance policy an insurance producer must submit a notice to both the applicant and the insurance producers own company regarding the replacement All must appear on all applications - Answer -Agents name & signature, the name of the company and the agents license number disability benefits - Answer -Can be delayed ...

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13 pages

Written in 2024/2025

Grade A+

AdelineJean

215 Insurance License Exam | Questions and Correct Solutions | Latest Update 2025/2025 | Graded A+ risk pooling - Answer -spreading risk over a large group of people law of large numbers - Answer -larger the group, the more certain the predictions speculative risk - Answer -not insurable - involves both chance of loss or gain pure risk - Answer -insurable - involves chance of loss, never gain or profit peril - Answer -event causing loss Ex: fire, death, accident, windstorm, disease ...

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10 pages

Written in 2024/2025

Grade A+

AdelineJean

2-15 Insurance License Florida exam | Questions and Correct Solutions | Latest Update 2024/2025 | Graded A+ Speculative Risk - Answer -Risk that involves chance of both loss and gain; not insurable Pure Risk - Answer -Risk that involves the chance of loss only, there is no opportunity for gain; insurable Law of Large Numbers - Answer -Basic principle of insurance that the larger the number of individual risks combined into a group, the more certainty there is in predicting the amount o...

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93 pages

Written in 2024/2025

Grade A+

AdelineJean