FLORIDA 215 EXAM Q AND A STUDY
GUIDE SOLVED QUESTIONS GRADED
◉ Generally Noncontributory group health plans require what
percentage of participation by eligible members ? Answer: 100%
◉ Are there certain standards and procedures that must be followed in
order to make reccomendations for annuity products to consumers age
65 and older? EXCEPT some facts that must be collected from the
senior consumer are ? Answer: Personal information, including the age
and sex of the parties to the annuity and the ages and number of
dependents and the applicants annual income.
◉ Which of the following ones below whole life policies provide level
premiums limited to a certain time period ? Answer: Limited Pay Whole
Life
◉ Which of the following is an optional provision in Health Insurance ?
Answer: Misstatement of age.
◉ Any transaction in which new life insurance or an annuity is to be
purchased and it is known, or should be known to the agent, that existing
life insurance or an annuity will be amended to reduce benefits or
coverage is covered under which regulation ? Answer: Replacement
,◉ Dollar Cost Averaging is considered : Answer: An investment strategy
for reducing the impact of volatilely on large purchases of financial
assets such as equities.
◉ A life insurance company organized in Georgia with its home office in
Kentucky is licensed to conduct business in California. In California,
this company is classified as : Answer: A foreign company
◉ Florida Law requires an additional lapse notice be sent for individual
life contract that have been in force for at least one year and that covers
persons : Answer: 64 years or older
◉ A variable annuity offers a plan : Answer: ( all of the above )
Based primarily on equity investments
That could negate the effects of inflation
To provide payments that can change monthly in dollar amount.
◉ When a life insurance policy beneficiary opts to receive interest only
payments , the insurance company can pay a ___ interest rate than the
pre-established minimum rate. Answer: Higher
◉ The suicide provision typically stipulates a ___ period of time in
which the policy's death benefit will not be paid if the insured commits
suicide Answer: Two - year
, ◉ The ________ is the amount the AD&D policy will pay as a death
benefit if death is due to an accident and the ______ is the amount
payable for the accidental loss of eyesight or accidental dismemberment.
Answer: Principle Sum, Capital Sum
◉ A company that is incorporated in Florida and is conducting business
in Florida is considered ____ insurer Answer: Domestic
◉ Peter is insured under a 500,000 life insurance policy, and his wife
Jennifer are instantly killed in an accident. Under the Uniform
Simultaneous Death Act, to whose estate would the proceeds be paid ?
Answer: Divided equally between the both estates
◉ Jane age 25 has just purchased a 20-pay whole life policy. When she
turns 45, she will: Answer: Cease paying premiums
◉ Who designates the beneficiary of the life insurance policy? Answer:
Policyowner
◉ Brokers represent _____; agents represent _______. Answer: Insured,
insurers
◉ Grandparents purchase a life insurance for their grandchildren, for
whom they are the legal guardians. Both perish in an accident some time
later. Who collects the death benefits ? Answer: No one, the insured
GUIDE SOLVED QUESTIONS GRADED
◉ Generally Noncontributory group health plans require what
percentage of participation by eligible members ? Answer: 100%
◉ Are there certain standards and procedures that must be followed in
order to make reccomendations for annuity products to consumers age
65 and older? EXCEPT some facts that must be collected from the
senior consumer are ? Answer: Personal information, including the age
and sex of the parties to the annuity and the ages and number of
dependents and the applicants annual income.
◉ Which of the following ones below whole life policies provide level
premiums limited to a certain time period ? Answer: Limited Pay Whole
Life
◉ Which of the following is an optional provision in Health Insurance ?
Answer: Misstatement of age.
◉ Any transaction in which new life insurance or an annuity is to be
purchased and it is known, or should be known to the agent, that existing
life insurance or an annuity will be amended to reduce benefits or
coverage is covered under which regulation ? Answer: Replacement
,◉ Dollar Cost Averaging is considered : Answer: An investment strategy
for reducing the impact of volatilely on large purchases of financial
assets such as equities.
◉ A life insurance company organized in Georgia with its home office in
Kentucky is licensed to conduct business in California. In California,
this company is classified as : Answer: A foreign company
◉ Florida Law requires an additional lapse notice be sent for individual
life contract that have been in force for at least one year and that covers
persons : Answer: 64 years or older
◉ A variable annuity offers a plan : Answer: ( all of the above )
Based primarily on equity investments
That could negate the effects of inflation
To provide payments that can change monthly in dollar amount.
◉ When a life insurance policy beneficiary opts to receive interest only
payments , the insurance company can pay a ___ interest rate than the
pre-established minimum rate. Answer: Higher
◉ The suicide provision typically stipulates a ___ period of time in
which the policy's death benefit will not be paid if the insured commits
suicide Answer: Two - year
, ◉ The ________ is the amount the AD&D policy will pay as a death
benefit if death is due to an accident and the ______ is the amount
payable for the accidental loss of eyesight or accidental dismemberment.
Answer: Principle Sum, Capital Sum
◉ A company that is incorporated in Florida and is conducting business
in Florida is considered ____ insurer Answer: Domestic
◉ Peter is insured under a 500,000 life insurance policy, and his wife
Jennifer are instantly killed in an accident. Under the Uniform
Simultaneous Death Act, to whose estate would the proceeds be paid ?
Answer: Divided equally between the both estates
◉ Jane age 25 has just purchased a 20-pay whole life policy. When she
turns 45, she will: Answer: Cease paying premiums
◉ Who designates the beneficiary of the life insurance policy? Answer:
Policyowner
◉ Brokers represent _____; agents represent _______. Answer: Insured,
insurers
◉ Grandparents purchase a life insurance for their grandchildren, for
whom they are the legal guardians. Both perish in an accident some time
later. Who collects the death benefits ? Answer: No one, the insured
