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Florida 2-15 Insurance License Exam |
Actual Exam With Verified Solutions
Under the Unfair Trade Practices Act, claim forms must be sent to the insured
within _______ from the date a claim is reported. - correct-answer -15 DAYS
A life insurance policy's cash value belongs to the insured. - correct-answer -FALSE
Agents should check with _________________ to determine if the insurer they
are representing is a properly authorized insurer. - correct-answer -the
Department of Financial Services
Supplemental Medical Insurance, Medicaid, and U.S. Armed Services and Veterans
Insurance are all examples of what type of insurer? - correct-answer -Government
Insurers
Section 1035 Exchanges are a way to move annuity funds: - correct-answer -
income tax free.
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Which of the following titles can a life insurance agent use when conducting
business - correct-answer -Neither financial planner, consultant, or investment
advisor
Group health insurers must either provide or offer chiropractic coverage. - correct-
answer -TRUE
A term life insurance policy's cash value builds during a specifically limited period
of time. - correct-answer -FALSE
Insurable interest must exist at: - correct-answer -the time of application.
Who regulates retirement plans in Florida? - correct-answer -ERISA
Employee Retirement Income Security Act
What type of insurance is most frequently used in group life plans? - correct-
answer -Annual Renewable Term
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What is a Medicare supplement (Medigap) policies? - correct-answer -Medigap
policies pay for some healthcare services not covered by Medicare, pay most, if
not all, Medicare deductibles and copayments, and supplement Medicare
benefits.
Anyone under the age of _____ who has earned income may open a traditional
IRA. - correct-answer -70 1/2
Which of the following types of insurance contracts are NOT considered valued
contracts? - correct-answer -Medical expense plans
Disability insurance provides an income stream for an individual who is unable to
continue working due to accident or illness. However, if a person is under ______
disabled, he/she does not qualify for benefits. - correct-answer -20%
Under the Law of Agency, an agent is the lawful representative of the: - correct-
answer -principal
Group health plans that are issued by mutual companies usually provide
dividends, which are most likely to be paid if __________________ are less than
anticipated. - correct-answer -expenses and claims costs
Florida 2-15 Insurance License Exam |
Actual Exam With Verified Solutions
Under the Unfair Trade Practices Act, claim forms must be sent to the insured
within _______ from the date a claim is reported. - correct-answer -15 DAYS
A life insurance policy's cash value belongs to the insured. - correct-answer -FALSE
Agents should check with _________________ to determine if the insurer they
are representing is a properly authorized insurer. - correct-answer -the
Department of Financial Services
Supplemental Medical Insurance, Medicaid, and U.S. Armed Services and Veterans
Insurance are all examples of what type of insurer? - correct-answer -Government
Insurers
Section 1035 Exchanges are a way to move annuity funds: - correct-answer -
income tax free.
,2|Page
Which of the following titles can a life insurance agent use when conducting
business - correct-answer -Neither financial planner, consultant, or investment
advisor
Group health insurers must either provide or offer chiropractic coverage. - correct-
answer -TRUE
A term life insurance policy's cash value builds during a specifically limited period
of time. - correct-answer -FALSE
Insurable interest must exist at: - correct-answer -the time of application.
Who regulates retirement plans in Florida? - correct-answer -ERISA
Employee Retirement Income Security Act
What type of insurance is most frequently used in group life plans? - correct-
answer -Annual Renewable Term
, 3|Page
What is a Medicare supplement (Medigap) policies? - correct-answer -Medigap
policies pay for some healthcare services not covered by Medicare, pay most, if
not all, Medicare deductibles and copayments, and supplement Medicare
benefits.
Anyone under the age of _____ who has earned income may open a traditional
IRA. - correct-answer -70 1/2
Which of the following types of insurance contracts are NOT considered valued
contracts? - correct-answer -Medical expense plans
Disability insurance provides an income stream for an individual who is unable to
continue working due to accident or illness. However, if a person is under ______
disabled, he/she does not qualify for benefits. - correct-answer -20%
Under the Law of Agency, an agent is the lawful representative of the: - correct-
answer -principal
Group health plans that are issued by mutual companies usually provide
dividends, which are most likely to be paid if __________________ are less than
anticipated. - correct-answer -expenses and claims costs
