Certification Exam- Florida Life and Health Pre-Licensing Review Questions and Correct Answers

Certification Exam- Florida Life and Health Pre-Licensing Review Questions and Correct Answers What percentage of eligible persons must be a policy cover in a noncontributory group? 100% In Florida, a health policy that is paid on a quarterly basis requires a grace period of 31 days T is an employee covered under a Group Life policy. If T's employment is terminated, the conversion privilege gives T the right to convert to an individual policy upon employment termination The minimum age at which a person can sign a life insurance application is 15 years What would be an accurate definition of "controlled business"? Insurance business that is written on the agents own life, property, or interests Under a life insurance policy the ___ has the authority to name the beneficiary? owner In Florida, the underwriting and issuance of a master group health policy requires that all employees are eligible to participate, regardless of their individual health history Under Florida law, a variable annuity policyowner must be notified of the accumulated value of the contract once each year In Florida, which of the following practitioners normally do NOT receive payment from health insurance policies? Naturopaths What are adjustable rates for life policy loans in Florida based on? Moody's corporate bond index What is Florida's definition of Life insurance replacement? A transaction in which a new policy is bought and an old policy is terminated S takes out a health insurance policy which contains a provision that states that the agent does not have the authority to change the policy or waive any of its provisions. Which health policy provision is this? Entire Contract An example of sliding would be charging for an additional product without the applicant's consent As a condition for a loan, a bank requires the borrower to purchase credit insurance from a specific company. What is the bank guilty of? coercion