FL Life and Health Insurance 2-15 Study Exam (165 questions) Questions with Detailed Verified Answers

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FL Life and Health Insurance 2-15 Study
Exam (165 questions) Questions with
Detailed Verified Answers

Question: N is covered by a Term Life policy and does not make the required
premium payment which was due August 1. N dies September 15. What action
will the insurer take?


Ans: Claim will be denied.


Question: A contract where one party either accepts or rejects the terms of a
contract written by another party is called a contract of


Ans: adhesion


Question: All of the following statements about Major Medical benefits are
true, EXCEPT:


Ans: Benefits have no maximum limit


Question: 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?

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Ans: The proceeds would be reduced based on whatever the premium would
have been if purchased at age 59.


Question: All of these are considered sources of underwriting information
about an applicant, EXCEPT:


Ans: Inspection Report


Question: According to the Mandatory Uniform Policy Provisions, what is the
maximum amount of time after the premium due date during which the policy
remains in force even though the premium has not been paid?


Ans: 31 days


Question: Which provision allows the policy owner to change a term life
policy to a permanent one without providing proof of good health?


Ans: Conversion


Question: What do families pay that are covered by the Florida Healthy Kids
Corporation?


Ans: A portion of the premium


Question: Which statement regarding third-party ownership of a life
insurance policy is true?

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Ans: It is used extensively in estate planning as well as business
circumstances.


Question: Which of the following employees may NOT be excluded from a
group life plan?


Ans: Full-time employees after the probationary period.


Question: Which of the following statements BEST describes what the Legal
Actions provision of an Accident and Health policy requires?


Ans: An insured must wait at least 60 days after Proof of Loss has been
submitted before a lawsuit can be filed.


Question: What percentage of eligible persons must a policy cover in a
noncontributory group?


Ans: 100%


Question: What are adjustable rates for life policy loans in Florida based on?


Ans: Moody's corporate bond index.


Question: An underwriter determines that a life insurance applicant's risk
should be reclassified due to a health issue. This policy may be issued with
a(n):


Ans: exclusion for the medical condition

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Question: What is the initial requirement for an insured to become eligible for
benefits under the Waiver of Premium provision?


Ans: Insured must be under a physician's care


Question: J has a Disability Income policy that does NOT provide benefits for
losses occurring as the result of his employment. What kind of coverage is
this?


Ans: Nonoccupational coverage


Question: K is insured under a Group Life Insurance policy. K is considered to
be a(n)


Ans: certificate holder


Question: According to Florida law, which of the following information does
NOT need to be obtained by an agent recommending an annuity purchase?


Ans: Marital status


Question: Dividends paid from a life insurance policy are


Ans: taxable


Question: S takes out a health insurance policy which contains a provision
that states the agent does not have the authority to change the policy or
waive any of its provisions. Which health policy provision is this?