XCel 2-15 florida life & health state exam
simulator
what is considered to be a characteristic of an immediate annuity ANS: benefit payments start within
one payment period of purchase
which of these characteristics is consistent with a straight life policy ANS: premiums are payable for as
long as there is insurance coverage in force
an insureds inability to perform two or more activities of daily living may trigger which type of life policy
rider ANS: long term care
B recently died and was insured with a life insurance policy for over five years. During the claims
process, the insurer discovered that B had understated his age by 5 years at the time of application. In
this situation, the insurer will ANS: pay the amount that the premium would have purchased at the
correct age
what action can a policyowner take if an application for a bank loan requires collateral ANS: assign policy
ownership to the bank
what is required in the Florida Employee Health Care Access Act ANS: small group benefit plans are to be
issued on a guarantee issue basis
P is a forty year old woman and would like to purchase an annuity that will provide a lifetime income
stream beginning at age sixty. Which of the following did she NOT buy? ANS: an immediate annuity
the situation in which a group of physicians are salaried employees and conduct business in an hmo
facility is called ANS: closed panel
T sends proof of loss to her insurer for an acceptable medical expense claim under her individual Health
Insurance policy. Upon receipt, the insurer must pay the benefits ANS: immediately
,an application for medicare supplement coverage may not be denied by the insurer if the application
was submitted within ______ month(s) after the applicant reaches the age 65 ANS: six
when a policyowner cash surrenders a universal life insurance policy in its early years, this may be
considered a red flag for a(n) ANS: anti money laundering violation
When is a Group Health policy required to provide coverage for a newborn child? ANS: at the moment
of birth
which of the following situations does not apply to the florida replacement rule ANS: an existing
policyholder purchases an additional policy from the same insurer
under a renewable term policy ANS: the renewal premium is calculated on the basis of the insured's
attained age
D owns a Whole Life policy that was purchased 10 years ago. If the premium payments suddenly stop
and D takes no additional action, which Nonforfeiture Option will the insurer likely proceed with? ANS:
extended term
In Florida, which employee is eligible for an employer's group term life plan? ANS: employee who works
more than 40 hours per week
which of the following statements is correct regarding an employer/employee group health plan ANS:
the employer receives a master policy and the employees receive certificates
all of the following statements regarding a tax sheltered annuity (tsa) are true except ANS: income
derived from the tsa is received income tax free
, How would a contingent beneficiary receive the policy proceeds in an Accidental Death and
Dismemberment (AD&D) policy? ANS: if the primary beneficiary dies before the insured
A student pilot can pay regular premium costs for her life insurance policy with the addition of which of
the following? ANS: aviation exclusion
which of these statements is incorrect regarding a preferred provider organization (ppo)? ANS: ppos are
not a type of managed care systems
which of the following is considered an accurate statement of an unfair trade practice? ANS: twisting
involves an agent using misrepresentation to convince a policyowner to cancel their current policy so
that they can purchase a new life insurance policy with another company
what is floridas definition of life insurance replacement ANS: a transaction in which a new policy is
bought and an old policy is terminated
a sole proprietor may use this plan only if the employees of this business are included ANS: keogh
pension plan
a primary beneficiary has died before the insured in a life insurance policy. a contingent beneficiary is
also named in the policy. which of the following will occur when the insured dies ANS: proceeds will go
to the contingent beneficiary
Upon delivery of a rated life insurance policy, the Producer must obtain each of the following EXCEPT
ANS: signed hipaa disclosure
which of these is not relevant when the determining the amount of personal life insurance needed ANS:
local unemployment rates
simulator
what is considered to be a characteristic of an immediate annuity ANS: benefit payments start within
one payment period of purchase
which of these characteristics is consistent with a straight life policy ANS: premiums are payable for as
long as there is insurance coverage in force
an insureds inability to perform two or more activities of daily living may trigger which type of life policy
rider ANS: long term care
B recently died and was insured with a life insurance policy for over five years. During the claims
process, the insurer discovered that B had understated his age by 5 years at the time of application. In
this situation, the insurer will ANS: pay the amount that the premium would have purchased at the
correct age
what action can a policyowner take if an application for a bank loan requires collateral ANS: assign policy
ownership to the bank
what is required in the Florida Employee Health Care Access Act ANS: small group benefit plans are to be
issued on a guarantee issue basis
P is a forty year old woman and would like to purchase an annuity that will provide a lifetime income
stream beginning at age sixty. Which of the following did she NOT buy? ANS: an immediate annuity
the situation in which a group of physicians are salaried employees and conduct business in an hmo
facility is called ANS: closed panel
T sends proof of loss to her insurer for an acceptable medical expense claim under her individual Health
Insurance policy. Upon receipt, the insurer must pay the benefits ANS: immediately
,an application for medicare supplement coverage may not be denied by the insurer if the application
was submitted within ______ month(s) after the applicant reaches the age 65 ANS: six
when a policyowner cash surrenders a universal life insurance policy in its early years, this may be
considered a red flag for a(n) ANS: anti money laundering violation
When is a Group Health policy required to provide coverage for a newborn child? ANS: at the moment
of birth
which of the following situations does not apply to the florida replacement rule ANS: an existing
policyholder purchases an additional policy from the same insurer
under a renewable term policy ANS: the renewal premium is calculated on the basis of the insured's
attained age
D owns a Whole Life policy that was purchased 10 years ago. If the premium payments suddenly stop
and D takes no additional action, which Nonforfeiture Option will the insurer likely proceed with? ANS:
extended term
In Florida, which employee is eligible for an employer's group term life plan? ANS: employee who works
more than 40 hours per week
which of the following statements is correct regarding an employer/employee group health plan ANS:
the employer receives a master policy and the employees receive certificates
all of the following statements regarding a tax sheltered annuity (tsa) are true except ANS: income
derived from the tsa is received income tax free
, How would a contingent beneficiary receive the policy proceeds in an Accidental Death and
Dismemberment (AD&D) policy? ANS: if the primary beneficiary dies before the insured
A student pilot can pay regular premium costs for her life insurance policy with the addition of which of
the following? ANS: aviation exclusion
which of these statements is incorrect regarding a preferred provider organization (ppo)? ANS: ppos are
not a type of managed care systems
which of the following is considered an accurate statement of an unfair trade practice? ANS: twisting
involves an agent using misrepresentation to convince a policyowner to cancel their current policy so
that they can purchase a new life insurance policy with another company
what is floridas definition of life insurance replacement ANS: a transaction in which a new policy is
bought and an old policy is terminated
a sole proprietor may use this plan only if the employees of this business are included ANS: keogh
pension plan
a primary beneficiary has died before the insured in a life insurance policy. a contingent beneficiary is
also named in the policy. which of the following will occur when the insured dies ANS: proceeds will go
to the contingent beneficiary
Upon delivery of a rated life insurance policy, the Producer must obtain each of the following EXCEPT
ANS: signed hipaa disclosure
which of these is not relevant when the determining the amount of personal life insurance needed ANS:
local unemployment rates
