XCEL 2-15 FLORIDA LIFE & HEALTH STATE
EXAM 1&2 SIMULATOR QUESTIONS WITH
CORRECT ANSWERS 2024-2025
EXAM 1
what is considered to be a characteristic of an immediate annuity
benefit payments start within one payment period of purchase
which of these characteristics is consistent with a straight life policy
premiums are payable for as long as there is insurance coverage in force
an insureds inability to perform two or more activities of daily living may
trigger which type of life policy rider
long term care
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
pay the amount that the premium would have purchased at the correct age
what action can a policyowner take if an application for a bank loan requires
collateral
assign policy ownership to the bank
what is required in the Florida Employee Health Care Access Act
small group benefit plans are to be issued on a guarantee issue basis
,P is a forty year old woman and would like to purchase an annuity that will
provide a lifetime income stream beginning at age sixty. Which of the
following did she NOT buy?
an immediate annuity
the situation in which a group of physicians are salaried employees and
conduct business in an hmo facility is called
closed panel
T sends proof of loss to her insurer for an acceptable medical expense claim
under her individual Health Insurance policy. Upon receipt, the insurer must
pay the benefits
immediately
an application for medicare supplement coverage may not be denied by the
insurer if the application was submitted within ______ month(s) after the
applicant reaches the age 65
six
when a policyowner cash surrenders a universal life insurance policy in its
early years, this may be considered a red flag for a(n)
anti money laundering violation
When is a Group Health policy required to provide coverage for a newborn
child?
at the moment of birth
which of the following situations does not apply to the florida replacement
rule
an existing policyholder purchases an additional policy from the same insurer
under a renewable term policy
the renewal premium is calculated on the basis of the insured's attained age
,D owns a Whole Life policy that was purchased 10 years ago. If the premium
payments suddenly stop and D takes no additional action, which
Nonforfeiture Option will the insurer likely proceed with?
extended term
In Florida, which employee is eligible for an employer's group term life plan?
employee who works more than 40 hours per week
which of the following statements is correct regarding an employer/employee
group health plan
the employer receives a master policy and the employees receive certificates
all of the following statements regarding a tax sheltered annuity (tsa) are true
except
income derived from the tsa is received income tax free
How would a contingent beneficiary receive the policy proceeds in an
Accidental Death and Dismemberment (AD&D) policy?
if the primary beneficiary dies before the insured
A student pilot can pay regular premium costs for her life insurance policy
with the addition of which of the following?
aviation exclusion
which of these statements is incorrect regarding a preferred provider
organization (ppo)?
ppos are not a type of managed care systems
which of the following is considered an accurate statement of an unfair trade
practice?
twisting involves an agent using misrepresentation to convince a policyowner to
cancel their current policy so that they can purchase a new life insurance policy
with another company
what is floridas definition of life insurance replacement
, a transaction in which a new policy is bought and an old policy is terminated
a sole proprietor may use this plan only if the employees of this business are
included
keogh pension plan
a primary beneficiary has died before the insured in a life insurance policy. a
contingent beneficiary is also named in the policy. which of the following will
occur when the insured dies
proceeds will go to the contingent beneficiary
Upon delivery of a rated life insurance policy, the Producer must obtain each
of the following EXCEPT
signed hipaa disclosure
which of these is not relevant when the determining the amount of personal
life insurance needed
local unemployment rates
Before a life insurance policy is issued, which of these components of the
contract is required?
applicants signature on application
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?
the proceeds would be reduced based on whatever the premium would have been if
purchased at age 59
a business overhead expense policy would cover which of the following if a
business owner becomes disabled
utilities and office rent
EXAM 1&2 SIMULATOR QUESTIONS WITH
CORRECT ANSWERS 2024-2025
EXAM 1
what is considered to be a characteristic of an immediate annuity
benefit payments start within one payment period of purchase
which of these characteristics is consistent with a straight life policy
premiums are payable for as long as there is insurance coverage in force
an insureds inability to perform two or more activities of daily living may
trigger which type of life policy rider
long term care
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
pay the amount that the premium would have purchased at the correct age
what action can a policyowner take if an application for a bank loan requires
collateral
assign policy ownership to the bank
what is required in the Florida Employee Health Care Access Act
small group benefit plans are to be issued on a guarantee issue basis
,P is a forty year old woman and would like to purchase an annuity that will
provide a lifetime income stream beginning at age sixty. Which of the
following did she NOT buy?
an immediate annuity
the situation in which a group of physicians are salaried employees and
conduct business in an hmo facility is called
closed panel
T sends proof of loss to her insurer for an acceptable medical expense claim
under her individual Health Insurance policy. Upon receipt, the insurer must
pay the benefits
immediately
an application for medicare supplement coverage may not be denied by the
insurer if the application was submitted within ______ month(s) after the
applicant reaches the age 65
six
when a policyowner cash surrenders a universal life insurance policy in its
early years, this may be considered a red flag for a(n)
anti money laundering violation
When is a Group Health policy required to provide coverage for a newborn
child?
at the moment of birth
which of the following situations does not apply to the florida replacement
rule
an existing policyholder purchases an additional policy from the same insurer
under a renewable term policy
the renewal premium is calculated on the basis of the insured's attained age
,D owns a Whole Life policy that was purchased 10 years ago. If the premium
payments suddenly stop and D takes no additional action, which
Nonforfeiture Option will the insurer likely proceed with?
extended term
In Florida, which employee is eligible for an employer's group term life plan?
employee who works more than 40 hours per week
which of the following statements is correct regarding an employer/employee
group health plan
the employer receives a master policy and the employees receive certificates
all of the following statements regarding a tax sheltered annuity (tsa) are true
except
income derived from the tsa is received income tax free
How would a contingent beneficiary receive the policy proceeds in an
Accidental Death and Dismemberment (AD&D) policy?
if the primary beneficiary dies before the insured
A student pilot can pay regular premium costs for her life insurance policy
with the addition of which of the following?
aviation exclusion
which of these statements is incorrect regarding a preferred provider
organization (ppo)?
ppos are not a type of managed care systems
which of the following is considered an accurate statement of an unfair trade
practice?
twisting involves an agent using misrepresentation to convince a policyowner to
cancel their current policy so that they can purchase a new life insurance policy
with another company
what is floridas definition of life insurance replacement
, a transaction in which a new policy is bought and an old policy is terminated
a sole proprietor may use this plan only if the employees of this business are
included
keogh pension plan
a primary beneficiary has died before the insured in a life insurance policy. a
contingent beneficiary is also named in the policy. which of the following will
occur when the insured dies
proceeds will go to the contingent beneficiary
Upon delivery of a rated life insurance policy, the Producer must obtain each
of the following EXCEPT
signed hipaa disclosure
which of these is not relevant when the determining the amount of personal
life insurance needed
local unemployment rates
Before a life insurance policy is issued, which of these components of the
contract is required?
applicants signature on application
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?
the proceeds would be reduced based on whatever the premium would have been if
purchased at age 59
a business overhead expense policy would cover which of the following if a
business owner becomes disabled
utilities and office rent
