FLA 0214 FINAL EXAM WITH
ACCURATE SOLUTIONS
Common jDisaster jClause jprovides jthat jif jboth jthe jinsured jand jthe jsole jnamed
jbeneficiary jwere jto jdie jin ja jcommon jaccident, jwhich jof jthe jfollowing jis jtrue? j-
jcorrect janswers j-This jclause jprovides jthe jpayment jof jproceeds jto jthe jinsured's
jestate
Under ja jlife jinsurance jpolicy jthe j___ jhas jthe jauthority jto jname jthe jbeneficiary? j-
jcorrect janswers j-owner
B jrecently jdied jand jwas jinsured jwith ja jlife jinsurance jpolicy jfor jover jfive jyears.
jDuring jthe jclaims jprocess, jthe jinsurer jdiscovered jthat jB jhad junderstated jhis jage
jby j5 jyears jat jthe jtime jof japplication. jIn jthis jsituation, jthe jinsurer jwill j- jcorrect
janswers j-Pay jthe jamount jthat jthe jpremium jwould jhave jpurchased jat jthe jcorrect
jage.
Which jUnfair jTrade jPractice jinvolves jan jagent jsuggesting jthat jan jinsurance jpolicy
jis jlike ja jshare jof jstock?
, j*Twisting
j*Intimidation
j*Misrepresentation
j*Sliding j- jcorrect janswers j-misrepresentation
L jtakes jout ja jlife jinsurance jpolicy jand jdies j10 jyears jlater. jDuring jthe jclaim
jprocess, jthe jinsurer jdiscovers jthat jL jhad junderstated jher jage jon jthe japplication.
jUnder jthe jMisstatement jof jAge jprovision, jthe jinsurer jwill j- jcorrect janswers j-adjust
jthe jdeath jbenefit jto ja jreduced jamount
W jgave jW's jage jas j50 jwhen jW jpurchased ja jLife jpolicy. jAt jthe jtime jof jW's jdeath
jseven jyears jlater, jthe jcompany jdiscovered jW's jtrue jage jat jissue jhad jbeen j59.
jWhat jwould jthe jnormal jprocedure jbe junder jthe jmisstatement jof jage jprovision jin
jregard jto jthe jpayment jof jthe jdeath jclaim? j- jcorrect janswers j-The jproceeds jwould
jbe jreduced jbased jon jwhatever jthe jpremium jwould jhave jbeen jif jpurchased jat
jage j59
The jfinancial jservices jcommission jmay jhold jhearings j- jcorrect janswers j-for jany
jreason jdeemed jnecessary
In jFlorida, jwhich jagency jis jresponsible jfor jthe jrehabilitation jor jliquidation jof
jinsurers? j- jcorrect janswers j-The jDepartment jof jFinancial jServices
All jof jthe jfollowing jentries jare jclassified junder jthe jfour jprinciples jareas jof jFlorida
jinsurance jlaw jEXCEPT j- jcorrect janswers j-An jagent's jcommission
All jof jthe jfollowing jare jNonforfeiture jOptions jEXCEPT j- jcorrect janswers j-
Automatic jPremium jLoan jOption
Under jfederal jtax jlaws, jwhat jis jthe jtax jtreatment jfor jan jemployer jproviding
j$50,000 jof ja jcontributory jgroup jTerm jLife jplan jto jall jits jeligible jemployees? j-
jcorrect janswers j-Portion jof jthe jpremiums jpaid jfor jby jthe jemployer jmay jbe ja jtax
jdeduction
What jgroup jterm jlife jfeature jpermits jan jindividual jto jdepart jfrom jthe jgroup jand
jcontinue jto jbe jcovered jwithout jproviding jevidence jof jinsurability? j- jcorrect
janswers j-Conversion
A jreturn jof jPremium jlife jinsurance jpolicy jis: j- jcorrect janswers j-Whole jlife jand
jIncreasing jterm
Which jof jthe jfollowing jis jthe jbest jdescription jof j'insurer'? j- jcorrect janswers j-Any
jperson, jcorporation, jassociation jor jsociety jthat jwrites jinsurance jcontracts
How jare jRoth jIRA jdistributions jnormally jtaxed? j- jcorrect janswers j-Distributions
jare jreceived jtax-free
What jkind jof jpolicy jeither jpays jthe jface jvalue jupon jthe jdeath jof jthe jinsured jor
jwhen jthe jinsured jreaches jage j100? j- jcorrect janswers j-Whole jLife
ACCURATE SOLUTIONS
Common jDisaster jClause jprovides jthat jif jboth jthe jinsured jand jthe jsole jnamed
jbeneficiary jwere jto jdie jin ja jcommon jaccident, jwhich jof jthe jfollowing jis jtrue? j-
jcorrect janswers j-This jclause jprovides jthe jpayment jof jproceeds jto jthe jinsured's
jestate
Under ja jlife jinsurance jpolicy jthe j___ jhas jthe jauthority jto jname jthe jbeneficiary? j-
jcorrect janswers j-owner
B jrecently jdied jand jwas jinsured jwith ja jlife jinsurance jpolicy jfor jover jfive jyears.
jDuring jthe jclaims jprocess, jthe jinsurer jdiscovered jthat jB jhad junderstated jhis jage
jby j5 jyears jat jthe jtime jof japplication. jIn jthis jsituation, jthe jinsurer jwill j- jcorrect
janswers j-Pay jthe jamount jthat jthe jpremium jwould jhave jpurchased jat jthe jcorrect
jage.
Which jUnfair jTrade jPractice jinvolves jan jagent jsuggesting jthat jan jinsurance jpolicy
jis jlike ja jshare jof jstock?
, j*Twisting
j*Intimidation
j*Misrepresentation
j*Sliding j- jcorrect janswers j-misrepresentation
L jtakes jout ja jlife jinsurance jpolicy jand jdies j10 jyears jlater. jDuring jthe jclaim
jprocess, jthe jinsurer jdiscovers jthat jL jhad junderstated jher jage jon jthe japplication.
jUnder jthe jMisstatement jof jAge jprovision, jthe jinsurer jwill j- jcorrect janswers j-adjust
jthe jdeath jbenefit jto ja jreduced jamount
W jgave jW's jage jas j50 jwhen jW jpurchased ja jLife jpolicy. jAt jthe jtime jof jW's jdeath
jseven jyears jlater, jthe jcompany jdiscovered jW's jtrue jage jat jissue jhad jbeen j59.
jWhat jwould jthe jnormal jprocedure jbe junder jthe jmisstatement jof jage jprovision jin
jregard jto jthe jpayment jof jthe jdeath jclaim? j- jcorrect janswers j-The jproceeds jwould
jbe jreduced jbased jon jwhatever jthe jpremium jwould jhave jbeen jif jpurchased jat
jage j59
The jfinancial jservices jcommission jmay jhold jhearings j- jcorrect janswers j-for jany
jreason jdeemed jnecessary
In jFlorida, jwhich jagency jis jresponsible jfor jthe jrehabilitation jor jliquidation jof
jinsurers? j- jcorrect janswers j-The jDepartment jof jFinancial jServices
All jof jthe jfollowing jentries jare jclassified junder jthe jfour jprinciples jareas jof jFlorida
jinsurance jlaw jEXCEPT j- jcorrect janswers j-An jagent's jcommission
All jof jthe jfollowing jare jNonforfeiture jOptions jEXCEPT j- jcorrect janswers j-
Automatic jPremium jLoan jOption
Under jfederal jtax jlaws, jwhat jis jthe jtax jtreatment jfor jan jemployer jproviding
j$50,000 jof ja jcontributory jgroup jTerm jLife jplan jto jall jits jeligible jemployees? j-
jcorrect janswers j-Portion jof jthe jpremiums jpaid jfor jby jthe jemployer jmay jbe ja jtax
jdeduction
What jgroup jterm jlife jfeature jpermits jan jindividual jto jdepart jfrom jthe jgroup jand
jcontinue jto jbe jcovered jwithout jproviding jevidence jof jinsurability? j- jcorrect
janswers j-Conversion
A jreturn jof jPremium jlife jinsurance jpolicy jis: j- jcorrect janswers j-Whole jlife jand
jIncreasing jterm
Which jof jthe jfollowing jis jthe jbest jdescription jof j'insurer'? j- jcorrect janswers j-Any
jperson, jcorporation, jassociation jor jsociety jthat jwrites jinsurance jcontracts
How jare jRoth jIRA jdistributions jnormally jtaxed? j- jcorrect janswers j-Distributions
jare jreceived jtax-free
What jkind jof jpolicy jeither jpays jthe jface jvalue jupon jthe jdeath jof jthe jinsured jor
jwhen jthe jinsured jreaches jage j100? j- jcorrect janswers j-Whole jLife
