FLORIDA 240 LICENSE EXAM QUESTION BANK
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| 2025 LICENSE FLORIDA 240 ACTUAL EXAM WI
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TH CORRECT VERIFIED ANSWERS | ALREADY G
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TgfilesgagclaimgonghisgAccidentgandgHealthgpolicygaftergbeinggtreatedgforga
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ualghealthgongtheginitialginsurancegapplicationgandgis,gtherefore,gdisputin
ggthegclaim'sgvalidity.gThegprovisiongthatglimitsgthegtimegperiodgduringgwh
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WhichgofgthegfollowinggisgNOTgincludedgingthegpolicygface?g-g✔✔✔gCorrect
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>
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ility
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>
Riskgretentionggroup
,Whatgtypegofgreinsurancegcontractginvolvesgtwogcompaniesgautomaticall
ygsharinggtheirgriskgexposure?g-g✔✔✔gCorrectgAnswerg>gtreaty
Whichgofgthesegisgconsideredgagstatementgthatgisgassuredgtogbegtruegingev
erygaspect?g-g✔✔✔gCorrectgAnswerg>gWarranty
Whichgofgthesegrequiregangoffer,gacceptance,gandgconsideration?g-g✔✔✔
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Ifgagcontractgofgadhesiongcontainsgcomplicatedglanguage,gtogwhomgwoul
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ieldgorganizations?g-
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ThegclausegingangAccidentgandgHealthgpolicygwhichgdefinesgthegbenefitg
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, WhatgIgthegnamegofgtheglawgthatgrequiresginsurersgtogdiscloseginformatio
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WhatgyeargwasgthegMcCarran-FergusongActgenacted?g-g✔✔✔gCorrectgAnswer
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Whichgofgthesegdescribegagparticipatingglifeginsurancegpolicy?g-g✔✔✔
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Atgwhatgpointgmustgaglifeginsurancegapplicantgbeginformedgofgtheirgrightsgtha
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| 2025 LICENSE FLORIDA 240 ACTUAL EXAM WI
g g g g g g g
TH CORRECT VERIFIED ANSWERS | ALREADY G
g g g g g g
RADED A+ | BRAND NEW g g g g
TgfilesgagclaimgonghisgAccidentgandgHealthgpolicygaftergbeinggtreatedgforga
ngillness.gTheginsurancegcompanygbelievesgthatgTgmisrepresentedghisgact
ualghealthgongtheginitialginsurancegapplicationgandgis,gtherefore,gdisputin
ggthegclaim'sgvalidity.gThegprovisiongthatglimitsgthegtimegperiodgduringgwh
ichgthegcompanygmaygdisputegagclaim'sgvaliditygisgcalledg-g✔✔✔
CorrectgAnswerg TimegLimitgongCertaingDefenses
>
WhichgofgthegfollowinggisgNOTgincludedgingthegpolicygface?g-g✔✔✔gCorrect
Answerg Exclusions
>
Aggroup-
ownedginsurancegcompanygthatgisgformedgtogassumegandgspreadgthegliab
ility
Answergricks
g gofgitsgmembersgisgknowngasga:g-g✔✔✔gCorrect
>
Riskgretentionggroup
,Whatgtypegofgreinsurancegcontractginvolvesgtwogcompaniesgautomaticall
ygsharinggtheirgriskgexposure?g-g✔✔✔gCorrectgAnswerg>gtreaty
Whichgofgthesegisgconsideredgagstatementgthatgisgassuredgtogbegtruegingev
erygaspect?g-g✔✔✔gCorrectgAnswerg>gWarranty
Whichgofgthesegrequiregangoffer,gacceptance,gandgconsideration?g-g✔✔✔
CorrectgAnswerg contract
>
Ifgagcontractgofgadhesiongcontainsgcomplicatedglanguage,gtogwhomgwoul
dgtheginterpretationgbegingfavorgof?g-g✔✔✔gCorrectgAnswerg>ginsured
WhatgdoesgMedicaregPartsgAgandgBgcover?g-
g ✔✔✔gCorrectgAnswerg>gPartgAgcoversghospitalization;gPartgBgcoversgdoctor's
services
g
Agmedicalgcaregprovidergwhichgtypicallygdeliversghealthgservicesgatgitsgow
nglocalgmedicalgfacilitygisgknowngasgag-
g ✔✔✔gCorrectgAnswerg>gHealthgmaintenancegorganizationg(HMOs)
,WhichgofgthegfollowinggstatementsgisgtruegaboutgmostgBluegCross/BluegSh
ieldgorganizations?g-
✔✔✔gCorrectgAnswerg>gTheygaregnonprofitgorganizations
g
ThegclausegingangAccidentgandgHealthgpolicygwhichgdefinesgthegbenefitg
amountsgtheginsurergwillgpaygisgcalledgtheg-
✔✔✔gCorrectgAnswerg>gInsuringgclause
g
Thegstatedgamountgorgpercentgofgliquidgassetsgthatganginsurergmustghaveg
onghandgthatgwillgsatisfygfuturegobligationsgtogitsgpolicyholdersgisgcalled:
-g✔✔✔gCorrectgAnswerg>g Reserves
AnginsurancegapplicantgMUSTgbeginformedgofganginvestigationgregardingg
his/hergreputationgandgcharactergaccordinggtogthe:g-
✔✔✔gCorrectgAnswerg>gFairgCreditgReportinggAct
g
Agnonprofitgincorporatedgsocietygthatgdoesgnotghavegcapitalgstockgandg
operatesgforgthegsolegbenefitgofgitsgmembersgisgknowngas:g-g✔✔✔gCorrect
Answerg Agfraternalgbenefitgsociety
>
, WhatgIgthegnamegofgtheglawgthatgrequiresginsurersgtogdiscloseginformatio
nggatheringgpracticesgandgwheregtheginformationgwasgobtained?g-
✔✔✔gCorrectgAnswerg>gFairgCreditgReportinggAct
g
Whogelectsgtheggoverninggbodygofgagmutualginsurancegcompany?g-g✔✔✔
CorrectgAnswerg Policyholders
>
WhatgyeargwasgthegMcCarran-FergusongActgenacted?g-g✔✔✔gCorrectgAnswer
>g1945
Whichgofgthesegdescribegagparticipatingglifeginsurancegpolicy?g-g✔✔✔
CorrectgAnswerg Policygownersgaregentitledgtogreceivegdividends
>
Atgwhatgpointgmustgaglifeginsurancegapplicantgbeginformedgofgtheirgrightsgtha
tgfallgundergthegFairgCreditgReportinggAct?g-
✔✔✔gCorrectgAnswerg>gUpongcompletiongofgthegapplication
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