Florida 2-15 Insurance License Exam / Comprehensive Study Guide Com
plete Questions and Correct Detailed Answers
Study online at https://quizlet.com/_hea9ua
1. Accumulation units are converted into annuity units: at the time of annuity pay-
out.
2. A group life insurance plan in which the employer pays noncontributory
the entire premium is known as a ________________ plan.
3. If a disabled worker covered under Social Security FALSE
disability benefits recovers and then is disabled again
within five years, a new waiting period is required
before benefits begin again.
4. Robert had an accident and qualified for Social Se- After 5 months
curity disability. Given the waiting period, when will
Robert begin to receive benefits?
5. The Insuring Clause includes all of the following EX- beneficiary
CEPT the
6. Mutualization occurs when a stock company turns to mutual
a __________ company.
7. To provide a safeguard for insureds, most major med- stop-loss
ical policies contain a ____________ feature that limits
the insured's out-of-pocket expenses.
8. Tom is a newly appointed life, health and variable an- Acme Insurance Agency
nuity agent with Acme Insurance Agency. He is writing
his first insurance policy on his brother-in-law's life.
Who does Tom legally represent in this transaction?
9. An insurance clause is a distinct article in a formal both the insurer and the
document that establishes the rules in the contract insured
that _____________________ must adhere to.
, Florida 2-15 Insurance License Exam / Comprehensive Study Guide Com
plete Questions and Correct Detailed Answers
Study online at https://quizlet.com/_hea9ua
10. "ACC" refers to the type of disability that prevents FALSE
someone from performing the job he was performing
prior to the disability.
11. Which statement is CORRECT about the Department An examination can be
of Financial Services' right to examine an agent's conducted at any time to
records? discover any unfair trade
practices.
12. Bill gives Jim a couple of tickets to a Florida Gators rebating
game to thank him for purchasing a policy. This is an
example of:
13. ____________ term insurance provides a level amount Level
of protection for a specified period, after which the
policy expires.
14. Business overhead expense (B.O.E.) insurance does TRUE
not provide benefits to cover the business owner's
salary.
15. Level, decreasing, and increasing insurance are all ba- term
sic forms of ____________ insurance.
16. Hospice services are covered under Medicare Part A. TRUE
17. Under Florida law, group health insurers must offer TRUE
mental and nervous disorder insurance to policyown-
ers.
18. $1,000 plus.
, Florida 2-15 Insurance License Exam / Comprehensive Study Guide Com
plete Questions and Correct Detailed Answers
Study online at https://quizlet.com/_hea9ua
Deductibles under a group major medical plan usual-
ly run from $250 to $500; whereas individual health
plans usually run from:
19. Every HMO subscriber must receive a benefits pack- a member's handbook.
age that includes a copy of the HMO contract and
certificate, and:
20. A life insurance policy will not be reinstated if it has surrendered for its cash
been: value.
21. Which of the following is NOT a type of permanent life Term Life
insurance?
22. In Florida, a ______________ must sign for and on behalf parent or legal guardian
of a minor purchasing life insurance.
23. When an agent spreads a false story that damages a defamation
competing agent's reputation, the offense is called:
24. __________ is when policy values of an insurance policy Churning
are used to purchase another policy with the same
insurer for the sole purpose of earning additional pre-
miums or commissions.
25. Once an organization has filed an application to con- Certificate of Authority
duct insurance business, the Office of Insurance Reg-
ulation will begin its review for issuing a(n):
26. Florida law requires health insurance policies and TRUE
HMO contracts to provide coverage for all medically
necessary equipment, supplies and services used to
plete Questions and Correct Detailed Answers
Study online at https://quizlet.com/_hea9ua
1. Accumulation units are converted into annuity units: at the time of annuity pay-
out.
2. A group life insurance plan in which the employer pays noncontributory
the entire premium is known as a ________________ plan.
3. If a disabled worker covered under Social Security FALSE
disability benefits recovers and then is disabled again
within five years, a new waiting period is required
before benefits begin again.
4. Robert had an accident and qualified for Social Se- After 5 months
curity disability. Given the waiting period, when will
Robert begin to receive benefits?
5. The Insuring Clause includes all of the following EX- beneficiary
CEPT the
6. Mutualization occurs when a stock company turns to mutual
a __________ company.
7. To provide a safeguard for insureds, most major med- stop-loss
ical policies contain a ____________ feature that limits
the insured's out-of-pocket expenses.
8. Tom is a newly appointed life, health and variable an- Acme Insurance Agency
nuity agent with Acme Insurance Agency. He is writing
his first insurance policy on his brother-in-law's life.
Who does Tom legally represent in this transaction?
9. An insurance clause is a distinct article in a formal both the insurer and the
document that establishes the rules in the contract insured
that _____________________ must adhere to.
, Florida 2-15 Insurance License Exam / Comprehensive Study Guide Com
plete Questions and Correct Detailed Answers
Study online at https://quizlet.com/_hea9ua
10. "ACC" refers to the type of disability that prevents FALSE
someone from performing the job he was performing
prior to the disability.
11. Which statement is CORRECT about the Department An examination can be
of Financial Services' right to examine an agent's conducted at any time to
records? discover any unfair trade
practices.
12. Bill gives Jim a couple of tickets to a Florida Gators rebating
game to thank him for purchasing a policy. This is an
example of:
13. ____________ term insurance provides a level amount Level
of protection for a specified period, after which the
policy expires.
14. Business overhead expense (B.O.E.) insurance does TRUE
not provide benefits to cover the business owner's
salary.
15. Level, decreasing, and increasing insurance are all ba- term
sic forms of ____________ insurance.
16. Hospice services are covered under Medicare Part A. TRUE
17. Under Florida law, group health insurers must offer TRUE
mental and nervous disorder insurance to policyown-
ers.
18. $1,000 plus.
, Florida 2-15 Insurance License Exam / Comprehensive Study Guide Com
plete Questions and Correct Detailed Answers
Study online at https://quizlet.com/_hea9ua
Deductibles under a group major medical plan usual-
ly run from $250 to $500; whereas individual health
plans usually run from:
19. Every HMO subscriber must receive a benefits pack- a member's handbook.
age that includes a copy of the HMO contract and
certificate, and:
20. A life insurance policy will not be reinstated if it has surrendered for its cash
been: value.
21. Which of the following is NOT a type of permanent life Term Life
insurance?
22. In Florida, a ______________ must sign for and on behalf parent or legal guardian
of a minor purchasing life insurance.
23. When an agent spreads a false story that damages a defamation
competing agent's reputation, the offense is called:
24. __________ is when policy values of an insurance policy Churning
are used to purchase another policy with the same
insurer for the sole purpose of earning additional pre-
miums or commissions.
25. Once an organization has filed an application to con- Certificate of Authority
duct insurance business, the Office of Insurance Reg-
ulation will begin its review for issuing a(n):
26. Florida law requires health insurance policies and TRUE
HMO contracts to provide coverage for all medically
necessary equipment, supplies and services used to
