Florida 2-15 Insurance License Exam
Complete Questions and Guide Answers
100% Verified Graded A+
1. Accumulation units are converted into annuity units
Answer: at the time of annuity payout.
2. A group life insurance plan in which the employer pays the entire premium is
known as a plan.
Answer: noncontributory
3. 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.
Answer: FALSE
4. Robert had an accident and qualified for Social Security disability. Given the
waiting period, when will Robert begin to receive benefits?
,Answer: After 5 months
5. The Insuring Clause includes all of the following EXCEPT the
Answer: beneficiary
6. Mutualization occurs when a stock company turns to a company.-
Answer: mutual
7. To provide a safeguard for insureds, most major medical policies contain a
feature that limits the insured's out-of-pocket expenses.
Answer: stop-loss
8. 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?
Answer: Acme Insurance Agency
9. An insurance clause is a distinct article in a formal document that establishes the
rules in the contract that must adhere to.
Answer: both the insurer and the insured
10. "ACC" refers to the type of disability that prevents someone from performing
the job he was performing prior to the disability.
, Answer: FALSE
11. Which statement is CORRECT about the Department of Financial Services' right
to examine an agent's records?
Answer: An examination can be conducted at any time to discover any unfair trade practices.
12. Bill gives Jim a couple of tickets to a Florida Gators game to thank him for
purchasing a policy. This is an example of
Answer: rebating
13. term insurance provides a level amount of protection for a spec-
ified period, after which the policy expires.
Answer: Level
14. Business overhead expense (B.O.E.) insurance does not provide benefits to
cover the business owner's salary.
Answer: TRUE
15. Level, decreasing, and increasing insurance are all basic forms of
insurance.
Answer: term
Complete Questions and Guide Answers
100% Verified Graded A+
1. Accumulation units are converted into annuity units
Answer: at the time of annuity payout.
2. A group life insurance plan in which the employer pays the entire premium is
known as a plan.
Answer: noncontributory
3. 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.
Answer: FALSE
4. Robert had an accident and qualified for Social Security disability. Given the
waiting period, when will Robert begin to receive benefits?
,Answer: After 5 months
5. The Insuring Clause includes all of the following EXCEPT the
Answer: beneficiary
6. Mutualization occurs when a stock company turns to a company.-
Answer: mutual
7. To provide a safeguard for insureds, most major medical policies contain a
feature that limits the insured's out-of-pocket expenses.
Answer: stop-loss
8. 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?
Answer: Acme Insurance Agency
9. An insurance clause is a distinct article in a formal document that establishes the
rules in the contract that must adhere to.
Answer: both the insurer and the insured
10. "ACC" refers to the type of disability that prevents someone from performing
the job he was performing prior to the disability.
, Answer: FALSE
11. Which statement is CORRECT about the Department of Financial Services' right
to examine an agent's records?
Answer: An examination can be conducted at any time to discover any unfair trade practices.
12. Bill gives Jim a couple of tickets to a Florida Gators game to thank him for
purchasing a policy. This is an example of
Answer: rebating
13. term insurance provides a level amount of protection for a spec-
ified period, after which the policy expires.
Answer: Level
14. Business overhead expense (B.O.E.) insurance does not provide benefits to
cover the business owner's salary.
Answer: TRUE
15. Level, decreasing, and increasing insurance are all basic forms of
insurance.
Answer: term
