FLA 0214 FINAL EXAM COMPREHENSIVE EXAM QUESTIONS WITH
DETAILED VERIFIED AND 100% ACCURATE ANSWERS BRAND NEW
EXAM ALREADY GRADED A+
Common Disaster Clause provides that if both the insured and the sole named beneficiary were to die in
a common accident, which of the following is true? - (ANSWER)This clause provides the payment of
proceeds to the insured's estate
Under a life insurance policy the ___ has the authority to name the beneficiary? - (ANSWER)owner
B recently died and was insured with a life insurance policy for over five years. During the claims process,
the insurer discovered that B had understated his age by 5 years at the time of application. In this
situation, the insurer will - (ANSWER)Pay the amount that the premium would have purchased at the
correct age.
Which Unfair Trade Practice involves an agent suggesting that an insurance policy is like a share of stock?
*Twisting
*Intimidation
*Misrepresentation
*Sliding - (ANSWER)misrepresentation
L takes out a life insurance policy and dies 10 years later. During the claim process, the insurer discovers
that L had understated her age on the application. Under the Misstatement of Age provision, the insurer
will - (ANSWER)adjust the death benefit to a reduced amount
W gave W's age as 50 when W purchased a Life policy. At the time of W's death seven years later, the
company discovered W's true age at issue had been 59. What would the normal procedure be under the
misstatement of age provision in regard to the payment of the death claim? - (ANSWER)The proceeds
would be reduced based on whatever the premium would have been if purchased at age 59
The financial services commission may hold hearings - (ANSWER)for any reason deemed necessary
, FLA 0214 FINAL EXAM COMPREHENSIVE EXAM QUESTIONS WITH
DETAILED VERIFIED AND 100% ACCURATE ANSWERS BRAND NEW
EXAM ALREADY GRADED A+
In Florida, which agency is responsible for the rehabilitation or liquidation of insurers? - (ANSWER)The
Department of Financial Services
All of the following entries are classified under the four principles areas of Florida insurance law EXCEPT -
(ANSWER)An agent's commission
All of the following are Nonforfeiture Options EXCEPT - (ANSWER)Automatic Premium Loan Option
Under federal tax laws, what is the tax treatment for an employer providing $50,000 of a contributory
group Term Life plan to all its eligible employees? - (ANSWER)Portion of the premiums paid for by the
employer may be a tax deduction
What group term life feature permits an individual to depart from the group and continue to be covered
without providing evidence of insurability? - (ANSWER)Conversion
A return of Premium life insurance policy is: - (ANSWER)Whole life and Increasing term
Which of the following is the best description of 'insurer'? - (ANSWER)Any person, corporation,
association or society that writes insurance contracts
How are Roth IRA distributions normally taxed? - (ANSWER)Distributions are received tax-free
What kind of policy either pays the face value upon the death of the insured or when the insured
reaches age 100? - (ANSWER)Whole Life
According to Florida's life insurance replacement laws, a policyowner must be proved with a written
Comparison and Summary statement when it's requested by: - (ANSWER)the policyowner
DETAILED VERIFIED AND 100% ACCURATE ANSWERS BRAND NEW
EXAM ALREADY GRADED A+
Common Disaster Clause provides that if both the insured and the sole named beneficiary were to die in
a common accident, which of the following is true? - (ANSWER)This clause provides the payment of
proceeds to the insured's estate
Under a life insurance policy the ___ has the authority to name the beneficiary? - (ANSWER)owner
B recently died and was insured with a life insurance policy for over five years. During the claims process,
the insurer discovered that B had understated his age by 5 years at the time of application. In this
situation, the insurer will - (ANSWER)Pay the amount that the premium would have purchased at the
correct age.
Which Unfair Trade Practice involves an agent suggesting that an insurance policy is like a share of stock?
*Twisting
*Intimidation
*Misrepresentation
*Sliding - (ANSWER)misrepresentation
L takes out a life insurance policy and dies 10 years later. During the claim process, the insurer discovers
that L had understated her age on the application. Under the Misstatement of Age provision, the insurer
will - (ANSWER)adjust the death benefit to a reduced amount
W gave W's age as 50 when W purchased a Life policy. At the time of W's death seven years later, the
company discovered W's true age at issue had been 59. What would the normal procedure be under the
misstatement of age provision in regard to the payment of the death claim? - (ANSWER)The proceeds
would be reduced based on whatever the premium would have been if purchased at age 59
The financial services commission may hold hearings - (ANSWER)for any reason deemed necessary
, FLA 0214 FINAL EXAM COMPREHENSIVE EXAM QUESTIONS WITH
DETAILED VERIFIED AND 100% ACCURATE ANSWERS BRAND NEW
EXAM ALREADY GRADED A+
In Florida, which agency is responsible for the rehabilitation or liquidation of insurers? - (ANSWER)The
Department of Financial Services
All of the following entries are classified under the four principles areas of Florida insurance law EXCEPT -
(ANSWER)An agent's commission
All of the following are Nonforfeiture Options EXCEPT - (ANSWER)Automatic Premium Loan Option
Under federal tax laws, what is the tax treatment for an employer providing $50,000 of a contributory
group Term Life plan to all its eligible employees? - (ANSWER)Portion of the premiums paid for by the
employer may be a tax deduction
What group term life feature permits an individual to depart from the group and continue to be covered
without providing evidence of insurability? - (ANSWER)Conversion
A return of Premium life insurance policy is: - (ANSWER)Whole life and Increasing term
Which of the following is the best description of 'insurer'? - (ANSWER)Any person, corporation,
association or society that writes insurance contracts
How are Roth IRA distributions normally taxed? - (ANSWER)Distributions are received tax-free
What kind of policy either pays the face value upon the death of the insured or when the insured
reaches age 100? - (ANSWER)Whole Life
According to Florida's life insurance replacement laws, a policyowner must be proved with a written
Comparison and Summary statement when it's requested by: - (ANSWER)the policyowner
