XCEL 2-15 FLORIDA LIFE & HEALTH STATE EXAM
SIMULATOR WITH COMPLETE SOLUTIONS
1.what Yis Yconsidered Yto Ybe Ya Ycharacteristic Yof Yan Yimmediate Yannuity:
Ybenefit Ypayments Ystart Ywithin Yone Ypayment Yperiod Yof Ypurchase
2.which Yof Ythese Ycharacteristics Yis Yconsistent Ywith Ya Ystraight Ylife
Ypolicy: Ypre- Ymiums Yare Ypayable Yfor Yas Ylong Yas Ythere Yis Yinsurance
Ycoverage Yin Yforce
3.an Yinsureds Yinability Yto Yperform Ytwo Yor Ymore Yactivities Yof Ydaily
Yliving Ymay Ytrigger Ywhich Ytype Yof Ylife Ypolicy Yrider: Ylong Yterm Ycare
4.B Yrecently Ydied Yand Ywas Yinsured Ywith Ya Ylife Yinsurance Ypolicy Yfor Yover
Yfive Yyears. YDuring Ythe Yclaims Yprocess, Ythe Yinsurer Ydiscovered Ythat YB
Yhad Yunderstat- Yed Yhis Yage Yby Y5 Yyears Yat Ythe Ytime Yof Yapplication. YIn
Ythis Ysituation, Ythe Yinsurer Ywill: Ypay Ythe Yamount Ythat Ythe Ypremium
Ywould Yhave Ypurchased Yat Ythe Ycorrect Yage
5.what Yaction Ycan Ya Ypolicyowner Ytake Yif Yan Yapplication Yfor Ya Ybank Yloan
Yrequires Ycollateral: Yassign Ypolicy Yownership Yto Ythe Ybank
6.what Yis Yrequired Yin Ythe YFlorida YEmployee YHealth YCare YAccess YAct:
1 Y/
Y25
,Ysmall Ygroup Ybenefit Yplans Yare Yto Ybe Yissued Yon Ya Yguarantee Yissue
Ybasis
7.P Yis Ya Yforty Yyear Yold Ywoman Yand Ywould Ylike Yto Ypurchase Yan Yannuity
Ythat Ywill Yprovide Ya Ylifetime Yincome Ystream Ybeginning Yat Yage Ysixty. YWhich
Yof Ythe Yfollowing Ydid Yshe YNOT Ybuy?: Yan Yimmediate Yannuity
8.the Ysituation Yin Ywhich Ya Ygroup Yof Yphysicians Yare Ysalaried
Yemployees Yand Yconduct Ybusiness Yin Yan Yhmo Yfacility Yis Ycalled:
Yclosed Ypanel
9.T Ysends Yproof Yof Yloss Yto Yher Yinsurer Yfor Yan Yacceptable Ymedical
Yexpense Yclaim Yunder Yher Yindividual YHealth YInsurance Ypolicy. YUpon
Yreceipt, Ythe Yinsurer Ymust Ypay Ythe Ybenefits: Yimmediately
10.an Yapplication Yfor Ymedicare Ysupplement Ycoverage Ymay Ynot Ybe
Ydenied Yby Ythe Yinsurer Yif Ythe Yapplication Ywas Ysubmitted Ywithin Y
month(s) Yafter Ythe Yapplicant Yreaches Ythe Yage Y65: Ysix
11.when Ya Ypolicyowner Ycash Ysurrenders Ya Yuniversal Ylife Yinsurance Ypolicy
Yin Yits Yearly Yyears, Ythis Ymay Ybe Yconsidered Ya Yred Yflag Yfor Ya(n): Yanti
Ymoney Ylaundering Yviolation
12.When Yis Ya YGroup YHealth Ypolicy Yrequired Yto Yprovide Ycoverage Yfor Ya
Ynewborn Ychild?: Yat Ythe Ymoment Yof Ybirth
13.which Yof Ythe Yfollowing Ysituations Ydoes Ynot Yapply Yto Ythe Yflorida
Yreplacement Yrule: Yan Yexisting Ypolicyholder Ypurchases Yan Yadditional
Ypolicy Yfrom Ythe Ysame Yinsurer
14.under Ya Yrenewable Yterm Ypolicy: Ythe Yrenewal Ypremium Yis Ycalculated
Yon Ythe Ybasis Yof Ythe Yinsured's Yattained Yage
15. D Yowns Ya YWhole YLife Ypolicy Ythat Ywas Ypurchased Y10 Yyears Yago. YIf
Ythe Ypremium Ypayments Ysuddenly Ystop Yand YD Ytakes Yno Yadditional Yaction,
Ywhich YNonforfeiture YOption Ywill Ythe Yinsurer Ylikely Yproceed Ywith?:
Yextended Yterm
16.In YFlorida, Ywhich Yemployee Yis Yeligible Yfor Yan Yemployer's Ygroup
Yterm Ylife Yplan?: Yemployee Ywho Yworks Ymore Ythan Y40 Yhours Yper
Yweek
2 Y/
Y25
, 17.which Yof Ythe Yfollowing Ystatements Yis Ycorrect Yregarding Yan
Yemployer/em- Yployee Ygroup Yhealth Yplan: Ythe Yemployer Yreceives Ya
Ymaster Ypolicy Yand Ythe Yemploy- Yees Yreceive Ycertificates
18.all Yof Ythe Yfollowing Ystatements Yregarding Ya Ytax Ysheltered Yannuity
Y(tsa) Yare Ytrue Yexcept: Yincome Yderived Yfrom Ythe Ytsa Yis Yreceived
Yincome Ytax Yfree
19.How Ywould Ya Ycontingent Ybeneficiary Yreceive Ythe Ypolicy Yproceeds Yin
Yan YAc- Ycidental YDeath Yand YDismemberment Y(AD&D) Ypolicy?: Yif Ythe
Yprimary Ybeneficiary Ydies Ybefore Ythe Yinsured
20.A Ystudent Ypilot Ycan Ypay Yregular Ypremium Ycosts Yfor Yher Ylife Yinsurance
Ypolicy Ywith Ythe Yaddition Yof Ywhich Yof Ythe Yfollowing?: Yaviation Yexclusion
21.which Yof Ythese Ystatements Yis Yincorrect Yregarding Ya Ypreferred
Yprovider Yorganization Y(ppo)?: Yppos Yare Ynot Ya Ytype Yof Ymanaged
Ycare Ysystems
22.which Yof Ythe Yfollowing Yis Yconsidered Yan Yaccurate Ystatement Yof Yan
Yunfair Ytrade Ypractice?: Ytwisting Yinvolves Yan Yagent Yusing
Ymisrepresentation Yto Yconvince Ya Ypolicyowner Yto Ycancel Ytheir
Ycurrent Ypolicy Yso Ythat Ythey Ycan Ypurchase Ya Ynew Ylife Yinsurance
Ypolicy Ywith Yanother Ycompany
23.what Yis Yfloridas Ydefinition Yof Ylife Yinsurance Yreplacement: Ya
Ytransaction Yin Ywhich Ya Ynew Ypolicy Yis Ybought Yand Yan Yold Ypolicy Yis
Yterminated
24.a Ysole Yproprietor Ymay Yuse Ythis Yplan Yonly Yif Ythe Yemployees Yof Ythis
Ybusiness Yare Yincluded: Ykeogh Ypension Yplan
25.a Yprimary Ybeneficiary Yhas Ydied Ybefore Ythe Yinsured Yin Ya Ylife Yinsurance
Ypolicy. Ya Ycontingent Ybeneficiary Yis Yalso Ynamed Yin Ythe Ypolicy. Ywhich Yof
Ythe Yfollowing Ywill Yoccur Ywhen Ythe Yinsured Ydies: Yproceeds Ywill Ygo Yto
Ythe Ycontingent Ybeneficiary
26.Upon Ydelivery Yof Ya Yrated Ylife Yinsurance Ypolicy, Ythe YProducer Ymust
Yobtain Yeach Yof Ythe Yfollowing YEXCEPT: Ysigned Yhipaa Ydisclosure
27. which Yof Ythese Yis Ynot Yrelevant Ywhen Ythe Ydetermining Ythe Yamount
Yof Ypersonal Ylife Yinsurance Yneeded: Ylocal Yunemployment Yrates
28.Before Ya Ylife Yinsurance Ypolicy Yis Yissued, Ywhich Yof Ythese Ycomponents
Yof Ythe Ycontract Yis Yrequired?: Yapplicants Ysignature Yon Yapplication
29.W Ygave YW's Yage Yas Y50 Ywhen YW Ypurchased Ya YLife Ypolicy. YAt Ythe
Ytime Yof YW's Ydeath Yseven Yyears Ylater, Ythe Ycompany Ydiscovered YW's Ytrue
Yage Yat Yissue Yhad Ybeen Y59. YWhat Ywould Ythe Ynormal Yprocedure Ybe Yunder
Ythe Ymisstatement Yof Yage Yprovision Yin Yregard Yto Ythe Ypayment Yof Ythe
Ydeath Yclaim?: Ythe Yproceeds Ywould Ybe Yreduced Ybased Yon Ywhatever
3 Y/
Y25
SIMULATOR WITH COMPLETE SOLUTIONS
1.what Yis Yconsidered Yto Ybe Ya Ycharacteristic Yof Yan Yimmediate Yannuity:
Ybenefit Ypayments Ystart Ywithin Yone Ypayment Yperiod Yof Ypurchase
2.which Yof Ythese Ycharacteristics Yis Yconsistent Ywith Ya Ystraight Ylife
Ypolicy: Ypre- Ymiums Yare Ypayable Yfor Yas Ylong Yas Ythere Yis Yinsurance
Ycoverage Yin Yforce
3.an Yinsureds Yinability Yto Yperform Ytwo Yor Ymore Yactivities Yof Ydaily
Yliving Ymay Ytrigger Ywhich Ytype Yof Ylife Ypolicy Yrider: Ylong Yterm Ycare
4.B Yrecently Ydied Yand Ywas Yinsured Ywith Ya Ylife Yinsurance Ypolicy Yfor Yover
Yfive Yyears. YDuring Ythe Yclaims Yprocess, Ythe Yinsurer Ydiscovered Ythat YB
Yhad Yunderstat- Yed Yhis Yage Yby Y5 Yyears Yat Ythe Ytime Yof Yapplication. YIn
Ythis Ysituation, Ythe Yinsurer Ywill: Ypay Ythe Yamount Ythat Ythe Ypremium
Ywould Yhave Ypurchased Yat Ythe Ycorrect Yage
5.what Yaction Ycan Ya Ypolicyowner Ytake Yif Yan Yapplication Yfor Ya Ybank Yloan
Yrequires Ycollateral: Yassign Ypolicy Yownership Yto Ythe Ybank
6.what Yis Yrequired Yin Ythe YFlorida YEmployee YHealth YCare YAccess YAct:
1 Y/
Y25
,Ysmall Ygroup Ybenefit Yplans Yare Yto Ybe Yissued Yon Ya Yguarantee Yissue
Ybasis
7.P Yis Ya Yforty Yyear Yold Ywoman Yand Ywould Ylike Yto Ypurchase Yan Yannuity
Ythat Ywill Yprovide Ya Ylifetime Yincome Ystream Ybeginning Yat Yage Ysixty. YWhich
Yof Ythe Yfollowing Ydid Yshe YNOT Ybuy?: Yan Yimmediate Yannuity
8.the Ysituation Yin Ywhich Ya Ygroup Yof Yphysicians Yare Ysalaried
Yemployees Yand Yconduct Ybusiness Yin Yan Yhmo Yfacility Yis Ycalled:
Yclosed Ypanel
9.T Ysends Yproof Yof Yloss Yto Yher Yinsurer Yfor Yan Yacceptable Ymedical
Yexpense Yclaim Yunder Yher Yindividual YHealth YInsurance Ypolicy. YUpon
Yreceipt, Ythe Yinsurer Ymust Ypay Ythe Ybenefits: Yimmediately
10.an Yapplication Yfor Ymedicare Ysupplement Ycoverage Ymay Ynot Ybe
Ydenied Yby Ythe Yinsurer Yif Ythe Yapplication Ywas Ysubmitted Ywithin Y
month(s) Yafter Ythe Yapplicant Yreaches Ythe Yage Y65: Ysix
11.when Ya Ypolicyowner Ycash Ysurrenders Ya Yuniversal Ylife Yinsurance Ypolicy
Yin Yits Yearly Yyears, Ythis Ymay Ybe Yconsidered Ya Yred Yflag Yfor Ya(n): Yanti
Ymoney Ylaundering Yviolation
12.When Yis Ya YGroup YHealth Ypolicy Yrequired Yto Yprovide Ycoverage Yfor Ya
Ynewborn Ychild?: Yat Ythe Ymoment Yof Ybirth
13.which Yof Ythe Yfollowing Ysituations Ydoes Ynot Yapply Yto Ythe Yflorida
Yreplacement Yrule: Yan Yexisting Ypolicyholder Ypurchases Yan Yadditional
Ypolicy Yfrom Ythe Ysame Yinsurer
14.under Ya Yrenewable Yterm Ypolicy: Ythe Yrenewal Ypremium Yis Ycalculated
Yon Ythe Ybasis Yof Ythe Yinsured's Yattained Yage
15. D Yowns Ya YWhole YLife Ypolicy Ythat Ywas Ypurchased Y10 Yyears Yago. YIf
Ythe Ypremium Ypayments Ysuddenly Ystop Yand YD Ytakes Yno Yadditional Yaction,
Ywhich YNonforfeiture YOption Ywill Ythe Yinsurer Ylikely Yproceed Ywith?:
Yextended Yterm
16.In YFlorida, Ywhich Yemployee Yis Yeligible Yfor Yan Yemployer's Ygroup
Yterm Ylife Yplan?: Yemployee Ywho Yworks Ymore Ythan Y40 Yhours Yper
Yweek
2 Y/
Y25
, 17.which Yof Ythe Yfollowing Ystatements Yis Ycorrect Yregarding Yan
Yemployer/em- Yployee Ygroup Yhealth Yplan: Ythe Yemployer Yreceives Ya
Ymaster Ypolicy Yand Ythe Yemploy- Yees Yreceive Ycertificates
18.all Yof Ythe Yfollowing Ystatements Yregarding Ya Ytax Ysheltered Yannuity
Y(tsa) Yare Ytrue Yexcept: Yincome Yderived Yfrom Ythe Ytsa Yis Yreceived
Yincome Ytax Yfree
19.How Ywould Ya Ycontingent Ybeneficiary Yreceive Ythe Ypolicy Yproceeds Yin
Yan YAc- Ycidental YDeath Yand YDismemberment Y(AD&D) Ypolicy?: Yif Ythe
Yprimary Ybeneficiary Ydies Ybefore Ythe Yinsured
20.A Ystudent Ypilot Ycan Ypay Yregular Ypremium Ycosts Yfor Yher Ylife Yinsurance
Ypolicy Ywith Ythe Yaddition Yof Ywhich Yof Ythe Yfollowing?: Yaviation Yexclusion
21.which Yof Ythese Ystatements Yis Yincorrect Yregarding Ya Ypreferred
Yprovider Yorganization Y(ppo)?: Yppos Yare Ynot Ya Ytype Yof Ymanaged
Ycare Ysystems
22.which Yof Ythe Yfollowing Yis Yconsidered Yan Yaccurate Ystatement Yof Yan
Yunfair Ytrade Ypractice?: Ytwisting Yinvolves Yan Yagent Yusing
Ymisrepresentation Yto Yconvince Ya Ypolicyowner Yto Ycancel Ytheir
Ycurrent Ypolicy Yso Ythat Ythey Ycan Ypurchase Ya Ynew Ylife Yinsurance
Ypolicy Ywith Yanother Ycompany
23.what Yis Yfloridas Ydefinition Yof Ylife Yinsurance Yreplacement: Ya
Ytransaction Yin Ywhich Ya Ynew Ypolicy Yis Ybought Yand Yan Yold Ypolicy Yis
Yterminated
24.a Ysole Yproprietor Ymay Yuse Ythis Yplan Yonly Yif Ythe Yemployees Yof Ythis
Ybusiness Yare Yincluded: Ykeogh Ypension Yplan
25.a Yprimary Ybeneficiary Yhas Ydied Ybefore Ythe Yinsured Yin Ya Ylife Yinsurance
Ypolicy. Ya Ycontingent Ybeneficiary Yis Yalso Ynamed Yin Ythe Ypolicy. Ywhich Yof
Ythe Yfollowing Ywill Yoccur Ywhen Ythe Yinsured Ydies: Yproceeds Ywill Ygo Yto
Ythe Ycontingent Ybeneficiary
26.Upon Ydelivery Yof Ya Yrated Ylife Yinsurance Ypolicy, Ythe YProducer Ymust
Yobtain Yeach Yof Ythe Yfollowing YEXCEPT: Ysigned Yhipaa Ydisclosure
27. which Yof Ythese Yis Ynot Yrelevant Ywhen Ythe Ydetermining Ythe Yamount
Yof Ypersonal Ylife Yinsurance Yneeded: Ylocal Yunemployment Yrates
28.Before Ya Ylife Yinsurance Ypolicy Yis Yissued, Ywhich Yof Ythese Ycomponents
Yof Ythe Ycontract Yis Yrequired?: Yapplicants Ysignature Yon Yapplication
29.W Ygave YW's Yage Yas Y50 Ywhen YW Ypurchased Ya YLife Ypolicy. YAt Ythe
Ytime Yof YW's Ydeath Yseven Yyears Ylater, Ythe Ycompany Ydiscovered YW's Ytrue
Yage Yat Yissue Yhad Ybeen Y59. YWhat Ywould Ythe Ynormal Yprocedure Ybe Yunder
Ythe Ymisstatement Yof Yage Yprovision Yin Yregard Yto Ythe Ypayment Yof Ythe
Ydeath Yclaim?: Ythe Yproceeds Ywould Ybe Yreduced Ybased Yon Ywhatever
3 Y/
Y25
