FLORIDA 2 20 STATE EXAM STUDY
GUIDE QUESTIONS WITH COMPLETE
SOLUTIONS
◉ The issuer must provide a perspective buyer with an? Answer:
Buyers guide and policy summary
◉ T would like to be assured $10,000 is available in 10 years to
replace a roof on his house. What kind of $10,000 policy should T
purchase? Answer: Ten-year Endowment
◉ According to the time payment of claims provision, the insurer
must pay disability income benefits no less frequently then which of
the following options? Answer: Monthly
◉ Which of the following is the most important factor when
deciding how much disability income coverage an applicant should
purchase? Answer: Applicants monthly income
◉ Which two entitles regulate variable annuities? Answer:
Department of Financial Services; Securities Exchange Commission.
◉ The amount of coverage on a group life policy is limited to?
Answer: The insured's total loan value
,◉ The provision that can be used to put on insurance policy back in
force after it has lapsed due to nonpayment is called? Answer:
Reinstatement
◉ Which product would best serve a retired individual looking to
invest a lump-sum of money through an insurance company?
Answer: Annuity
◉ According to Florida law, a group life insurance policy requires a
minimum how many insureds? Answer: No minimum
◉ Multiple employer welfare arrangement (MEWA) provides what
type of benefits? Answer: Insurance
◉ In a qualified retirement plan, the yearly contributions to an
employee's account? Answer: Are restricted to maximum level set by
the IRS
◉ All of the following entries are classified under the four principal
areas of Florida insurance law except? Answer: An agent's
commission
◉ According to Florida's life insurance replacement law, about
policyowner must be provided with the written comparison and
,summary statement when it's required by? Answer: The
policyowner
◉ On delivery of policy, a signed statement of good health is typically
request if? Answer: The application was submitted without the
initial premium.
◉ K is the insured and P is the sole beneficiary on an accidental
death and dismemberment insurance policy. Both are involved in a
fatal accident where K dies before P. Under the common disaster
provision, which of these statements is true? Answer: Proceeds will
be paid to P's estate
◉ An insured is past due on his life insurance premium but is still
within the grace period. What will the beneficiary receive if the
insured dies during the grace period.? Answer: Full face amount
minus any past due premiums
◉ A business overhead expens policy would cover which of the
following if a business owner becomes disabled? Answer: Utilities
and office rent
◉ Employers with less then —— employees are affected by Florida
health insurance coverage continuation act (Mini COBRA)? Answer:
20
, ◉ S is employer by large corporation that provides group health
coverage for its employees and their dependents. If S dies, The
company must allow his surviving spouse and dependents to
continue their group health coverage for a maximum of how many
months on the cobra regulations? Answer: 36 months (under
COBRA)
◉ J is an agent who recently told a claimant that his rights might be
impaired if he does not complete a release form within a specified
time. What could this agent be found guilty of? Answer: Coercion
◉ An employer that offers a qualified retirement plan to its
employees is eligible to? Answer: Make tax-deductible contribution
to the plan
◉ Which of the following employees may not be excluded from the
group life plan? Answer: Full-time employees after the probation
period.
◉ When is the face amount of a whole life policy paid? Answer:
When the insured dies or at the policies maturity date whichever
happens first.
GUIDE QUESTIONS WITH COMPLETE
SOLUTIONS
◉ The issuer must provide a perspective buyer with an? Answer:
Buyers guide and policy summary
◉ T would like to be assured $10,000 is available in 10 years to
replace a roof on his house. What kind of $10,000 policy should T
purchase? Answer: Ten-year Endowment
◉ According to the time payment of claims provision, the insurer
must pay disability income benefits no less frequently then which of
the following options? Answer: Monthly
◉ Which of the following is the most important factor when
deciding how much disability income coverage an applicant should
purchase? Answer: Applicants monthly income
◉ Which two entitles regulate variable annuities? Answer:
Department of Financial Services; Securities Exchange Commission.
◉ The amount of coverage on a group life policy is limited to?
Answer: The insured's total loan value
,◉ The provision that can be used to put on insurance policy back in
force after it has lapsed due to nonpayment is called? Answer:
Reinstatement
◉ Which product would best serve a retired individual looking to
invest a lump-sum of money through an insurance company?
Answer: Annuity
◉ According to Florida law, a group life insurance policy requires a
minimum how many insureds? Answer: No minimum
◉ Multiple employer welfare arrangement (MEWA) provides what
type of benefits? Answer: Insurance
◉ In a qualified retirement plan, the yearly contributions to an
employee's account? Answer: Are restricted to maximum level set by
the IRS
◉ All of the following entries are classified under the four principal
areas of Florida insurance law except? Answer: An agent's
commission
◉ According to Florida's life insurance replacement law, about
policyowner must be provided with the written comparison and
,summary statement when it's required by? Answer: The
policyowner
◉ On delivery of policy, a signed statement of good health is typically
request if? Answer: The application was submitted without the
initial premium.
◉ K is the insured and P is the sole beneficiary on an accidental
death and dismemberment insurance policy. Both are involved in a
fatal accident where K dies before P. Under the common disaster
provision, which of these statements is true? Answer: Proceeds will
be paid to P's estate
◉ An insured is past due on his life insurance premium but is still
within the grace period. What will the beneficiary receive if the
insured dies during the grace period.? Answer: Full face amount
minus any past due premiums
◉ A business overhead expens policy would cover which of the
following if a business owner becomes disabled? Answer: Utilities
and office rent
◉ Employers with less then —— employees are affected by Florida
health insurance coverage continuation act (Mini COBRA)? Answer:
20
, ◉ S is employer by large corporation that provides group health
coverage for its employees and their dependents. If S dies, The
company must allow his surviving spouse and dependents to
continue their group health coverage for a maximum of how many
months on the cobra regulations? Answer: 36 months (under
COBRA)
◉ J is an agent who recently told a claimant that his rights might be
impaired if he does not complete a release form within a specified
time. What could this agent be found guilty of? Answer: Coercion
◉ An employer that offers a qualified retirement plan to its
employees is eligible to? Answer: Make tax-deductible contribution
to the plan
◉ Which of the following employees may not be excluded from the
group life plan? Answer: Full-time employees after the probation
period.
◉ When is the face amount of a whole life policy paid? Answer:
When the insured dies or at the policies maturity date whichever
happens first.
