©FYNDLAY 2025 ALL RIGHTS RESERVED
Simulator FL-LH - FL Health and Life and
Annuity Exam Questions and Answers 100%
Pass
A non-contributory plan requires _________ participation of all eligible employees -
ANS 100%
A characteristic of preferred provider organizations (PPOS) would be: - ANS Discounted fees
for the patient
Which of the following areas of state regulation is NOT protected by the saving clause in ERISA?
- ANS Commerce
Additional coverage can be added to a whole Life policy by adding a(n): - ANS decreasing
term rider
What benefit does the payor clause on a Juvenile Life policy provide? - ANS Premiums are
waived if the payor becomes disabled
According to Florida law, when must an agent deliver the outline of Coverage to a Medicare
Supplement applicant? - ANS At the time of application
N is a student pilot with a large life insurance policy. Which of these features would limit the
insurer's obligation in the event N was killed while flying as a student pilot? - ANS Exclusion
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, ©FYNDLAY 2025 ALL RIGHTS RESERVED
Which statement is true regarding a minor beneficiary ? - ANS Normally, a guarding is
required to be appointed in the Beneficiary clause of the contract
A sole proprietor may use this plan ONLY if the employees of this business are included. -
ANS Individual Retirement Account (IRA)
Which of the following provisions is NOT required in HMO contracts/certificated? -
ANS Seven-day grace period
The Bureau of Unclaimed Property is overseen by the - ANS Chief Financial Officer
A life policy that contains a monthly mortality charge as well as self-directed investment choices
is called a(n) - ANS Variable Universal Life policy
An insurance company normally has 2 years to contest information provided on an accident and
health application. This 2 year period begins on the date that the: - ANS insurer dated the
policy
P is a new employee and will be obtaining non- contributory group Major Medical insurance
from her employer. Which of the following actions must she take during the open enrollment
period? - ANS Sign an enrollment card
Which of the following statements is true about most Blue Cross/Blue Shield organizations? -
ANS They are nonprofit organizations
A "reimbursement policy" pays what amount of covered Long-Term care expenses? -
ANS Actual covered expenses up to the daily maximum
An individual covered under a group life insurance policy is considered to be a (n) -
ANS certificate holder
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, ©FYNDLAY 2025 ALL RIGHTS RESERVED
The __________ has the right to change a life insurance policy's beneficiary. -
ANS policyowner
Which of the following documents must an agent submit to the replacing insurance company
during the replacement of an existing life insurance policy? - ANS Notice to existing and
replacing insurers of intention to replace
Which of these statements concerning an individual Disability income policy is TRUE? -
ANS Normally includes an Elimination period
A statement made by an insured in an insurance application that must be true to the best of
one's knowledge and which becomes a part of the contract is known as - ANS a
representation
A foreign insurance company doing business in Florida - ANS is a company that was formed
under the laws of another state
An insurer must provide an insured with claim forms within __ days after receiving notice of a
loss. - ANS 15
When an insurer issues a policy that refuses to cover certain risks, this is referred to as a(n)
: - ANS exclusion
What is the initial source of underwriting for an insurance policy? - ANS Application
containing statements from the insured
T, age 70, withdraws cash from a profit-sharing plan and purchases a Straight life Annuity. What
will this transaction provide? - ANS Income that cannot be outlived by the owner
Tom has a qualified retirement plan with his employer that is currently considered to be 80%
"vested". How can this be interpreted? - ANS If Tom's employment is terminated, 20% of the
funds would be forfeited
©FYNDLAY 3
, ©FYNDLAY 2025 ALL RIGHTS RESERVED
Which settlement option pays a stated amount to an annuitant, but no residual value to a
beneficiary? - ANS Life Income
K buys a policy where the premium stays fixed for the first 5 years. The premium then increases
in year 6 and stays level thereafter, all the while the death benefit remains the same. What kind
of policy is this? - ANS Modified Whole Life
An Insured's inability to perform two or more activities of daily living may trigger which type of
life policy rider? - ANS Long term care
Which of these is an element of a Variable Life policy? - ANS A fixed, level premium
F needs life insurance that provides coverage for only a limited amount of time with a death
benefit that changes regularly to a schedule. What kind of policy is needed? -
ANS Decreasing term policy
Which parts of a life insurance policy are guaranteed to be true? - ANS Warranty
In Major Medical Expense policies, what is the objective of a Stop Loss provision? -
ANS Limits an insured's out-of-pocket medical expenses.
T has an annuity that guarantees an income payment for the rest of his life. The contract also
guaranteed that if T dies before receiving payments for 20 years, the remaining payments will
be paid to his son for the balance of the 20 years. What type of annuity is this? - ANS Life
Annuity with Period Certain
Florida's 14-day free-look period for life insurance policies begins at the - ANS date of
delivery
J would like to maintain the right to change beneficiaries. Which beneficiary designation should
be used? - ANS Revocable
©FYNDLAY 4
Simulator FL-LH - FL Health and Life and
Annuity Exam Questions and Answers 100%
Pass
A non-contributory plan requires _________ participation of all eligible employees -
ANS 100%
A characteristic of preferred provider organizations (PPOS) would be: - ANS Discounted fees
for the patient
Which of the following areas of state regulation is NOT protected by the saving clause in ERISA?
- ANS Commerce
Additional coverage can be added to a whole Life policy by adding a(n): - ANS decreasing
term rider
What benefit does the payor clause on a Juvenile Life policy provide? - ANS Premiums are
waived if the payor becomes disabled
According to Florida law, when must an agent deliver the outline of Coverage to a Medicare
Supplement applicant? - ANS At the time of application
N is a student pilot with a large life insurance policy. Which of these features would limit the
insurer's obligation in the event N was killed while flying as a student pilot? - ANS Exclusion
©FYNDLAY 1
, ©FYNDLAY 2025 ALL RIGHTS RESERVED
Which statement is true regarding a minor beneficiary ? - ANS Normally, a guarding is
required to be appointed in the Beneficiary clause of the contract
A sole proprietor may use this plan ONLY if the employees of this business are included. -
ANS Individual Retirement Account (IRA)
Which of the following provisions is NOT required in HMO contracts/certificated? -
ANS Seven-day grace period
The Bureau of Unclaimed Property is overseen by the - ANS Chief Financial Officer
A life policy that contains a monthly mortality charge as well as self-directed investment choices
is called a(n) - ANS Variable Universal Life policy
An insurance company normally has 2 years to contest information provided on an accident and
health application. This 2 year period begins on the date that the: - ANS insurer dated the
policy
P is a new employee and will be obtaining non- contributory group Major Medical insurance
from her employer. Which of the following actions must she take during the open enrollment
period? - ANS Sign an enrollment card
Which of the following statements is true about most Blue Cross/Blue Shield organizations? -
ANS They are nonprofit organizations
A "reimbursement policy" pays what amount of covered Long-Term care expenses? -
ANS Actual covered expenses up to the daily maximum
An individual covered under a group life insurance policy is considered to be a (n) -
ANS certificate holder
©FYNDLAY 2
, ©FYNDLAY 2025 ALL RIGHTS RESERVED
The __________ has the right to change a life insurance policy's beneficiary. -
ANS policyowner
Which of the following documents must an agent submit to the replacing insurance company
during the replacement of an existing life insurance policy? - ANS Notice to existing and
replacing insurers of intention to replace
Which of these statements concerning an individual Disability income policy is TRUE? -
ANS Normally includes an Elimination period
A statement made by an insured in an insurance application that must be true to the best of
one's knowledge and which becomes a part of the contract is known as - ANS a
representation
A foreign insurance company doing business in Florida - ANS is a company that was formed
under the laws of another state
An insurer must provide an insured with claim forms within __ days after receiving notice of a
loss. - ANS 15
When an insurer issues a policy that refuses to cover certain risks, this is referred to as a(n)
: - ANS exclusion
What is the initial source of underwriting for an insurance policy? - ANS Application
containing statements from the insured
T, age 70, withdraws cash from a profit-sharing plan and purchases a Straight life Annuity. What
will this transaction provide? - ANS Income that cannot be outlived by the owner
Tom has a qualified retirement plan with his employer that is currently considered to be 80%
"vested". How can this be interpreted? - ANS If Tom's employment is terminated, 20% of the
funds would be forfeited
©FYNDLAY 3
, ©FYNDLAY 2025 ALL RIGHTS RESERVED
Which settlement option pays a stated amount to an annuitant, but no residual value to a
beneficiary? - ANS Life Income
K buys a policy where the premium stays fixed for the first 5 years. The premium then increases
in year 6 and stays level thereafter, all the while the death benefit remains the same. What kind
of policy is this? - ANS Modified Whole Life
An Insured's inability to perform two or more activities of daily living may trigger which type of
life policy rider? - ANS Long term care
Which of these is an element of a Variable Life policy? - ANS A fixed, level premium
F needs life insurance that provides coverage for only a limited amount of time with a death
benefit that changes regularly to a schedule. What kind of policy is needed? -
ANS Decreasing term policy
Which parts of a life insurance policy are guaranteed to be true? - ANS Warranty
In Major Medical Expense policies, what is the objective of a Stop Loss provision? -
ANS Limits an insured's out-of-pocket medical expenses.
T has an annuity that guarantees an income payment for the rest of his life. The contract also
guaranteed that if T dies before receiving payments for 20 years, the remaining payments will
be paid to his son for the balance of the 20 years. What type of annuity is this? - ANS Life
Annuity with Period Certain
Florida's 14-day free-look period for life insurance policies begins at the - ANS date of
delivery
J would like to maintain the right to change beneficiaries. Which beneficiary designation should
be used? - ANS Revocable
©FYNDLAY 4
