Florida 2-15 Exam With Verified And
Detailed Answers
In va v3 vpartner vcross-purchase vplan, vhow vmany vpolicies vneed vto vbe vpurchased vin
vorder vto vprotect veach vpartner vagainst vthe vloss vof vany vother vpartner? v-
vCORRECT✅✅6
According vto vthe vNAIC vLife vInsurance vSolicitation vModel, vwhen vsoliciting vlife
vinsurance, va vproducer vis vrequired vto vprovide va vprospect vwith va v______ vand va
v_______ vspecific vto vthe vproduct vbeing vmarketed. v- vCORRECT✅✅general
vbuyer's vguide; vpolicy vsummary
The vIncontestable vClause vstates vthat vthe vinsurer vcannot vcontest vthe vvalidity vof va
vlife vinsurance vpolicy vas vlong vas vit vremains vin vforce vafter vwhat vperiod vof vtime? v-
vCORRECT✅✅Usually v2 vyears, vbut vin vsome vstates vonly v1 vyear
Mr. vBaker vhas vnamed vhis vson vas vthe vbeneficiary vto vhis vlife vinsurance vpolicy, vbut
vhe vis vworried vabout vhis vson's vspending vhabits vand vthe vmoney vhis vson vmight
valready vowe vwhen vhe vreceives vthe vdeath vbenefit. vWhich vpolicy vprovision, vclause
vor vrider vbest vfits vhis vsituation? v- vCORRECT✅✅Spendthrift vProvision
The vfollowing vlife vpolicy vsettlement voptions vare vavailable vto vthe vpolicy's vbeneficiary
vEXCEPT: v- vCORRECT✅✅Interest-Free vOption
When vdividends vare vissued, vthe vpolicyowner vhas vthe vfollowing vdividend voptions vin
vutilizing va vreturn vEXCEPT: v- vCORRECT✅✅Life vIncome vOption
Which vtwo vlife vinsurance vriders vcan vBill vpurchase vto vguarantee vthat vhis vpolicy vwill
vcontinue vwithout vfurther vcommitment vfrom vhim vand vthat vincome vwill vbe vpaid vto
vhim vif vhe vbecomes vtotally vand vpermanently vdisabled? v- vCORRECT✅✅Waiver vof
vpremium vand vDisability vIncome vRiders
In vthe vevent vthat va vparent vdies vor vbecomes vdisabled, vwhich vrider vallows vsurviving
vchild vcoverage vto vcontinue vuntil vthe vchild vreaches va vspecified vage? v-
vCORRECT✅✅Payor vRider
According vto vthe vNAIC vModel vGroup vLife vInsurance vProvisions, vwhat vis vthe
vstandard vgrace vperiod? v- vCORRECT✅✅30-31 vdays
Which vstatement vregarding vannuities vis vCORRECT? v- vCORRECT✅✅Variable
vannuity vunits vare vfixed vbut vthe vannuity vpayment vwill vvary vaccording vto vthe vvalue
vof vthe vannuity vunit.
, For vindividuals vwho vhave vreached vtheir vnormal vretirement vage, vtheir vspouses vare
ventitled va vretirement vbenefit vthat vis vequal vto vwhat vpercentage vof vthe vretired
vworker's vprimary vinsurance vamount v(PIA)? v- vCORRECT✅✅50%
n vorder vto vbe vconsidered vcurrently vinsured vand vthus veligible vfor vlimited vsurvivor
vbenefits vfrom vSocial vSecurity, va vworker vmust vhave vearned v___ vcredits vduring vthe
v13-quarter vperiod vending vwith vthe vquarter vin vwhich vthe vworker vdied. v-
vCORRECT✅✅6
Due vto vthe vhistorical vmismanagement vof vemployee vretirement vplans, vwhich vfederal
vlaw vdid vCongress vpass vto vprotect vemployee vretirement vplans vagainst vmisuse? v-
vCORRECT✅✅Employee vRetirement vIncome vSecurity vAct v(ERISA)
In va vqualified vemployer vretirement vplan, van vemployee vis ventitled vto vwhat
vpercentage vof vthe vvested vinterest vin vbenefits vthat vaccrue vfrom vhis vor vher
vcontributions? v- vCORRECT✅✅100%
Under vthe v1035 vpolicy vexchange vprovision, vwhich vof vthe vfollowing vwill vNOT
vreceive vfavorable vtax vtreatment? v- vCORRECT✅✅An vannuity vcontract vexchanged
vfor va vlife vinsurance vpolicy
Barbara vis vcurrently vin vher vSocial vSecurity v'blackout' vperiod. vWhich vanswer vBEST
vdescribes vthis vperiod? v- vCORRECT✅✅The vperiod vafter va vsurviving vspouse's
vyoungest vchild vis vno vlonger veligible vand vbefore vthe vsurviving vspouse vturns vage
v60, vor vage v50 vif vhe vor vshe vis vdisabled.
Which vtype vof vwhole vlife vinsurance vpolicy vis vcharacterized vby vaffordable vpremiums
vin vits vinitial vyears, vthen vgradually vincreasing vover vthe vnext vfew vyears vuntil vfinally
vleveling voff vat va vslightly vhigher vrate vthan va vstandard vwhole vlife vpolicy? v-
vCORRECT✅✅Graded vPremium vWhole vLife
Theodore, vwho vhas vpurchased van vimmediate vannuity vwith v20-year vperiod vcertain
vcoverage vand vreceives v$1000 vmonthly, vdies vafter vreceiving vpayments vfor v15
vyears. vWhat vis vthe vamount vhis vbeneficiary vwill vreceive? v- vCORRECT✅✅$60,000
Variable vannuities vare vcharacterized vby: v- vCORRECT✅✅A vvariable vrate vof
vgrowth vand va vvariable vbenefit vpayable vto vthe vannuitant
When vpertaining vto va vdefined vcontribution vplan, vall vof vthe vfollowing vare vincorrect
vEXCEPT: v- vCORRECT✅✅The vfinal vfund vavailable vto vany vone vparticipant
vdepends von vtotal vamounts vcontributed, vplus vinterest vand vdividends vearned
All vof vthe vstatements vbelow vpertaining vto vgroup vlife vinsurance vare vcorrect
vEXCEPT: v- vCORRECT✅✅If vthe vinsurance vcoverage vis vless vthan v$75,000,
vemployees vdo vnot vhave vto vreport vthe vemployer-paid vpremiums vas vincome
Detailed Answers
In va v3 vpartner vcross-purchase vplan, vhow vmany vpolicies vneed vto vbe vpurchased vin
vorder vto vprotect veach vpartner vagainst vthe vloss vof vany vother vpartner? v-
vCORRECT✅✅6
According vto vthe vNAIC vLife vInsurance vSolicitation vModel, vwhen vsoliciting vlife
vinsurance, va vproducer vis vrequired vto vprovide va vprospect vwith va v______ vand va
v_______ vspecific vto vthe vproduct vbeing vmarketed. v- vCORRECT✅✅general
vbuyer's vguide; vpolicy vsummary
The vIncontestable vClause vstates vthat vthe vinsurer vcannot vcontest vthe vvalidity vof va
vlife vinsurance vpolicy vas vlong vas vit vremains vin vforce vafter vwhat vperiod vof vtime? v-
vCORRECT✅✅Usually v2 vyears, vbut vin vsome vstates vonly v1 vyear
Mr. vBaker vhas vnamed vhis vson vas vthe vbeneficiary vto vhis vlife vinsurance vpolicy, vbut
vhe vis vworried vabout vhis vson's vspending vhabits vand vthe vmoney vhis vson vmight
valready vowe vwhen vhe vreceives vthe vdeath vbenefit. vWhich vpolicy vprovision, vclause
vor vrider vbest vfits vhis vsituation? v- vCORRECT✅✅Spendthrift vProvision
The vfollowing vlife vpolicy vsettlement voptions vare vavailable vto vthe vpolicy's vbeneficiary
vEXCEPT: v- vCORRECT✅✅Interest-Free vOption
When vdividends vare vissued, vthe vpolicyowner vhas vthe vfollowing vdividend voptions vin
vutilizing va vreturn vEXCEPT: v- vCORRECT✅✅Life vIncome vOption
Which vtwo vlife vinsurance vriders vcan vBill vpurchase vto vguarantee vthat vhis vpolicy vwill
vcontinue vwithout vfurther vcommitment vfrom vhim vand vthat vincome vwill vbe vpaid vto
vhim vif vhe vbecomes vtotally vand vpermanently vdisabled? v- vCORRECT✅✅Waiver vof
vpremium vand vDisability vIncome vRiders
In vthe vevent vthat va vparent vdies vor vbecomes vdisabled, vwhich vrider vallows vsurviving
vchild vcoverage vto vcontinue vuntil vthe vchild vreaches va vspecified vage? v-
vCORRECT✅✅Payor vRider
According vto vthe vNAIC vModel vGroup vLife vInsurance vProvisions, vwhat vis vthe
vstandard vgrace vperiod? v- vCORRECT✅✅30-31 vdays
Which vstatement vregarding vannuities vis vCORRECT? v- vCORRECT✅✅Variable
vannuity vunits vare vfixed vbut vthe vannuity vpayment vwill vvary vaccording vto vthe vvalue
vof vthe vannuity vunit.
, For vindividuals vwho vhave vreached vtheir vnormal vretirement vage, vtheir vspouses vare
ventitled va vretirement vbenefit vthat vis vequal vto vwhat vpercentage vof vthe vretired
vworker's vprimary vinsurance vamount v(PIA)? v- vCORRECT✅✅50%
n vorder vto vbe vconsidered vcurrently vinsured vand vthus veligible vfor vlimited vsurvivor
vbenefits vfrom vSocial vSecurity, va vworker vmust vhave vearned v___ vcredits vduring vthe
v13-quarter vperiod vending vwith vthe vquarter vin vwhich vthe vworker vdied. v-
vCORRECT✅✅6
Due vto vthe vhistorical vmismanagement vof vemployee vretirement vplans, vwhich vfederal
vlaw vdid vCongress vpass vto vprotect vemployee vretirement vplans vagainst vmisuse? v-
vCORRECT✅✅Employee vRetirement vIncome vSecurity vAct v(ERISA)
In va vqualified vemployer vretirement vplan, van vemployee vis ventitled vto vwhat
vpercentage vof vthe vvested vinterest vin vbenefits vthat vaccrue vfrom vhis vor vher
vcontributions? v- vCORRECT✅✅100%
Under vthe v1035 vpolicy vexchange vprovision, vwhich vof vthe vfollowing vwill vNOT
vreceive vfavorable vtax vtreatment? v- vCORRECT✅✅An vannuity vcontract vexchanged
vfor va vlife vinsurance vpolicy
Barbara vis vcurrently vin vher vSocial vSecurity v'blackout' vperiod. vWhich vanswer vBEST
vdescribes vthis vperiod? v- vCORRECT✅✅The vperiod vafter va vsurviving vspouse's
vyoungest vchild vis vno vlonger veligible vand vbefore vthe vsurviving vspouse vturns vage
v60, vor vage v50 vif vhe vor vshe vis vdisabled.
Which vtype vof vwhole vlife vinsurance vpolicy vis vcharacterized vby vaffordable vpremiums
vin vits vinitial vyears, vthen vgradually vincreasing vover vthe vnext vfew vyears vuntil vfinally
vleveling voff vat va vslightly vhigher vrate vthan va vstandard vwhole vlife vpolicy? v-
vCORRECT✅✅Graded vPremium vWhole vLife
Theodore, vwho vhas vpurchased van vimmediate vannuity vwith v20-year vperiod vcertain
vcoverage vand vreceives v$1000 vmonthly, vdies vafter vreceiving vpayments vfor v15
vyears. vWhat vis vthe vamount vhis vbeneficiary vwill vreceive? v- vCORRECT✅✅$60,000
Variable vannuities vare vcharacterized vby: v- vCORRECT✅✅A vvariable vrate vof
vgrowth vand va vvariable vbenefit vpayable vto vthe vannuitant
When vpertaining vto va vdefined vcontribution vplan, vall vof vthe vfollowing vare vincorrect
vEXCEPT: v- vCORRECT✅✅The vfinal vfund vavailable vto vany vone vparticipant
vdepends von vtotal vamounts vcontributed, vplus vinterest vand vdividends vearned
All vof vthe vstatements vbelow vpertaining vto vgroup vlife vinsurance vare vcorrect
vEXCEPT: v- vCORRECT✅✅If vthe vinsurance vcoverage vis vless vthan v$75,000,
vemployees vdo vnot vhave vto vreport vthe vemployer-paid vpremiums vas vincome
