214 FLORIDA INSURANCE 2026 ACTUAL EXAM
PAPER QUESTIONS WITH SOLUTIONS GRADED
A+
◉ Which of the following terms is known as the voluntary
relinquishment of a given right or privilege?
Answer: Waiver
◉ This Supreme Court case placed the regulation of insurance
within the authority of the federal government by defining insurance
as a form of interstate commerce?
Answer: United States v. Southeastern Underwriters Association
(1944)
◉ Tim was just hired today by MAB INC and wants to join the
company's group insurance policy. What period of time is he
currently in and when can he join the plan?
Answer: Probationary period, he can sign up after 90 days
◉ If Justin submitted an initial premium with his life insurance
application, was provided a conditional receipt by the insurance
company and was ultimately issued a policy as applied for, when
would his insurance policy be considered in force?
,Answer: The date of his application or the day he completed any
required medical exam
◉ When dividends are issued, the policyowner has the following
dividend options in utilizing a return EXCEPT:
Answer: Life Income Option
◉ Which two life insurance riders can Bill purchase to guarantee
that his policy will continue without further commitment from him
and that income will be paid to him if he becomes totally and
permanently disabled?
Answer: Waiver of premium and Disability Income Riders
◉ In a contributory group plan, what percentage of eligible
employees must be covered?
Answer: 75%
◉ Which statement regarding annuities is CORRECT?
Answer: Variable annuity units are fixed but the annuity payment
will vary according to the value of the annuity unit.
◉ In order to be considered currently insured and thus eligible for
limited survivor benefits from Social Security, a worker must have
,earned ___ credits during the 13-quarter period ending with the
quarter in which the worker died.
Answer: 6
◉ Social security is also known as:
Answer: Old Age Survivors and Disability Insurance (OASDI)
◉ Insurance is not intended to protect against?
Answer: Speculative Risk
◉ Under a family plan life insurance policy, coverage on the
breadwinner is often provided by which of the following insurance
types?
Answer: Whole Life
◉ Which of the following statements regarding annuity settlement
or payout options is NOT true?
Answer: If the annuitant dies before the principal sum is depleted,
the Refund Life Annuity Option will pay the entire annuity amount
to the beneficiary in a lump sum payment or over scheduled
installments.
◉ The following statements regarding 401(k) retirement plans are
correct EXCEPT:
, Answer: Plans rarely have a matching contribution component by an
employer
◉ All of the statements below pertaining to group life insurance are
correct EXCEPT:
Answer: If the insurance coverage is less than $75,000, employees
do not have to report the employer-paid premiums as income
◉ According to Florida Statues, entering into any agreement to
commit any act of intimidation resulting in the business of insurance
is known as:
Answer: Coercion
◉ William, age 67, has owned his life insurance policy for the past
15 years and has mailed his monthly premiums to his life insurance
company. Last month he failed to mail the monthly payment on his
premium due date as well as during his policy's grace period. As a
result, which of the following scenarios will MOST likely occur?
Answer: The insurer will provide notification of impending lapse in
coverage, and allow at least 21 additional days beyond the grace
period to make a payment to prevent the policy from lapse
◉ Before executing an exchange of an annuity contract resulting
from a recommendation to a senior consumer, an insurance agent
should make reasonable efforts to obtain information from the
PAPER QUESTIONS WITH SOLUTIONS GRADED
A+
◉ Which of the following terms is known as the voluntary
relinquishment of a given right or privilege?
Answer: Waiver
◉ This Supreme Court case placed the regulation of insurance
within the authority of the federal government by defining insurance
as a form of interstate commerce?
Answer: United States v. Southeastern Underwriters Association
(1944)
◉ Tim was just hired today by MAB INC and wants to join the
company's group insurance policy. What period of time is he
currently in and when can he join the plan?
Answer: Probationary period, he can sign up after 90 days
◉ If Justin submitted an initial premium with his life insurance
application, was provided a conditional receipt by the insurance
company and was ultimately issued a policy as applied for, when
would his insurance policy be considered in force?
,Answer: The date of his application or the day he completed any
required medical exam
◉ When dividends are issued, the policyowner has the following
dividend options in utilizing a return EXCEPT:
Answer: Life Income Option
◉ Which two life insurance riders can Bill purchase to guarantee
that his policy will continue without further commitment from him
and that income will be paid to him if he becomes totally and
permanently disabled?
Answer: Waiver of premium and Disability Income Riders
◉ In a contributory group plan, what percentage of eligible
employees must be covered?
Answer: 75%
◉ Which statement regarding annuities is CORRECT?
Answer: Variable annuity units are fixed but the annuity payment
will vary according to the value of the annuity unit.
◉ In order to be considered currently insured and thus eligible for
limited survivor benefits from Social Security, a worker must have
,earned ___ credits during the 13-quarter period ending with the
quarter in which the worker died.
Answer: 6
◉ Social security is also known as:
Answer: Old Age Survivors and Disability Insurance (OASDI)
◉ Insurance is not intended to protect against?
Answer: Speculative Risk
◉ Under a family plan life insurance policy, coverage on the
breadwinner is often provided by which of the following insurance
types?
Answer: Whole Life
◉ Which of the following statements regarding annuity settlement
or payout options is NOT true?
Answer: If the annuitant dies before the principal sum is depleted,
the Refund Life Annuity Option will pay the entire annuity amount
to the beneficiary in a lump sum payment or over scheduled
installments.
◉ The following statements regarding 401(k) retirement plans are
correct EXCEPT:
, Answer: Plans rarely have a matching contribution component by an
employer
◉ All of the statements below pertaining to group life insurance are
correct EXCEPT:
Answer: If the insurance coverage is less than $75,000, employees
do not have to report the employer-paid premiums as income
◉ According to Florida Statues, entering into any agreement to
commit any act of intimidation resulting in the business of insurance
is known as:
Answer: Coercion
◉ William, age 67, has owned his life insurance policy for the past
15 years and has mailed his monthly premiums to his life insurance
company. Last month he failed to mail the monthly payment on his
premium due date as well as during his policy's grace period. As a
result, which of the following scenarios will MOST likely occur?
Answer: The insurer will provide notification of impending lapse in
coverage, and allow at least 21 additional days beyond the grace
period to make a payment to prevent the policy from lapse
◉ Before executing an exchange of an annuity contract resulting
from a recommendation to a senior consumer, an insurance agent
should make reasonable efforts to obtain information from the
