Exam Simulator: Florida Life and Health State Exam Latest Update Graded A

Exam Simulator: Florida Life and Health State Exam Latest Update Graded A A nonforfeiture clause gives the policy owner guaranteed values even if the policy has lapsed P loses an arm is a farm accident and is paid $10k from his Accidental Death and Dismemberment policy. This benefit is known as the Capital Sum P, age 50, purchased an annuity that P will fund with $500/ month for 15 years. The annuity will then pay P retirement payments after the 15 years. Which type of annuity did P purchase? Deferred A potential client, age 40, would like to purchase a Whole Life policy that will accumulate cash value at a faster rate in the early years of the policy. Which of these statements made by the producer would be correct? 20-Pay Life accumulates cash value faster than Straight Life Which of these is NOT a source of funding for Social Security benefits? a. Self employed individuals b. employees c. Federal government d. Employers c. Federal government A disability income policy owner recently submitted a claim for a chronic neck problem that has now resulted in total liability. The original neck injury occurred before the application was taken 5 years prior. The neck injury was never disclosed to the insurer at the time of application. How will the insurer handle this claim? The claim will be paid and covered will remain in force (after a policy has been in force for 2 years, it enter the incontestable period) What does Medicare Part A and B cover? Part A covers hospitalization; Part B covers doctor's services According in Florida law, a Group Life insurance policy requires a minimum of how many insureds? no minimum which of the following considered an accurate statement of unfair trade practice ? Twisting involves an agent using misrepresentation to convince a policy owner to cancel their current policy so that they can purchase a new life insurance policy with another company Accidental Death coverage is provided to commercial airline passengers in which of the following types of policies Blanket Accident policy insurers/agent must, in Florida, offer and issue all small employer health plans on a __________ basis: guaranteed-issue K purchased a Life insurance policy in 1986 which paid 10% interest in the early years of the policy. Twenty years after the purchase, she received a notice from the insurer stating that the policy will soon terminate unless a much-higher premium is paid because of falling interest rates. This type of policy is known as a(n) ______life policy Universal Florida's 14-day free-look period for life insurance policies begins a the date of delivery Which of the following features of a group Term Life policy enables an individual to leave the group and continue his or her insurance without providing evidence of insurability? Conversion privilege Q is hospitalized for 3 days and receives a bill for $10,100. Q has a Major Medical Policy with a $100 deductible and 80/20 coinsurance. How much will Q be responsible for paying on this claim? $2,100 ($10,000 x 20% coinsurance + $100 deductible) Stranger-Owned Life Insurance (STOLI) is when a person purchases life insurance only to sell to a(n): third-party with no insurable interest Which Federal law allows an insurer