214 FLORIDA INSURANCE EXAM QUESTIONS AND ANSWERS
LATEST DOWNLOADED 2025/2026 A COMPLETE SOLUTION
ALL ANSWERS HAVE IT CORRECT DETAILED BEST GRADED A+
FOR SUCCESS
60 days - CORRECT ANSWERS If an individual wants to transfer funds from their 401(k)
plan into a Rollover IRA, what is the maximum allowed time in order to be eligible for a tax-free
rollover?
Annuity Funding plan - CORRECT ANSWERS Which of the following qualified employer
retirement plans is NOT recognized as a 'defined contribution' plan?
40 credits - CORRECT ANSWERS What is the full amount of Social Security credits
needed to be fully insured for benefits?
Long-term care rider - CORRECT ANSWERS Which life rider allows for care in a
convalescent or nursing home?
Extended term option - CORRECT ANSWERS If Jim decides to cancel his whole life
insurance policy and uses his policy's cash value to purchase a term life policy with a face
amount of equal value but with a likely shorter coverage period, he is utilizing which type of life
insurance nonforfeiture option?
Consideration Clause - CORRECT ANSWERS Which provision or clause below will
illustrate the frequency and amount of policy premiums?
A term life policy builds cash value over the policy's term. - CORRECT ANSWERS Which
of the following statements describing term life insurance is INCORRECT?
The insurance company evaluates the individuals within a group instead of the group as a
whole, and then measures the individual's risks against its underwriting standards. -
CORRECT ANSWERS In regards to group insurance, which statement below is
INCORRECT?
,214 FLORIDA INSURANCE EXAM QUESTIONS AND ANSWERS
LATEST DOWNLOADED 2025/2026 A COMPLETE SOLUTION
ALL ANSWERS HAVE IT CORRECT DETAILED BEST GRADED A+
FOR SUCCESS
Central Medical Bureau (CMB) - CORRECT ANSWERS All of the following are sources for
obtaining information regarding an applicant's insurability EXCEPT:
An insurer is required to disclose medical information to an applicant in the event the applicant
is rejected due to findings in the report. - CORRECT ANSWERS Which of the following is
NOT required by the Fair Credit Reporting Act of 1970?
Friends - CORRECT ANSWERS Insurable interest exists between all of the following
EXCEPT:
The policy no longer meets the needs of the client - CORRECT ANSWERS Which of the
following reasons would justify a policy replacement?
Usually 2 years, but in some states only 1 year - CORRECT ANSWERS The Incontestable
Clause states that the insurer cannot contest the validity of a life insurance policy as long as it
remains in force after what period of time?
Non-contributory plans - CORRECT ANSWERS Group insurance plans that do not
require employees to pay a portion of policy premiums are referred to as:
4 credits - CORRECT ANSWERS What is the maximum number of Social Security credits
an individual can earn per year?
An annuity contract exchanged for a life insurance policy - CORRECT ANSWERS Under
the 1035 policy exchange provision, which of the following will NOT receive favorable tax
treatment?
, 214 FLORIDA INSURANCE EXAM QUESTIONS AND ANSWERS
LATEST DOWNLOADED 2025/2026 A COMPLETE SOLUTION
ALL ANSWERS HAVE IT CORRECT DETAILED BEST GRADED A+
FOR SUCCESS
Stock - CORRECT ANSWERS Which of the following insurers is best defined as a non-
participating company?
100% - CORRECT ANSWERS A non-contributory group policy requires which percentage
of eligible employees to be covered?
Revocable Designation - CORRECT ANSWERS Carla has named her husband Jeffrey as
the beneficiary to her life insurance policy. Under which beneficiary designation does she
remains in control of the policy and can make any changes she sees fit in the future?
Graded premium whole life - CORRECT ANSWERS Which type of whole life insurance
policy is characterized by affordable premiums in its initial years, then gradually increasing over
the next few years until finally leveling off at a slightly higher rate than a standard whole life
policy?
Cash surrender option, reduced paid-up option and extended term option - CORRECT
ANSWERS In the event that a whole life insurance policy lapses due to nonpayment or it is
intentionally cancelled, which of the following nonforfeiture options are available to the
policyowner?
1000x24 months = ? - CORRECT ANSWERS Carl purchased an Immediate Annuity with a
5-year 'life with period certain option,' which pays him $1,000 per month. Exactly 3 years after
his policy start date Carl dies. How much money will his beneficiary receive for the remainder of
the policy?
His distribution payment amount will fluctuate depending on the return of interest at the time
of each distribution payment - CORRECT ANSWERS Leon currently receives $650 per
month from his variable annuity. Since he is scheduled to receive payments from his variable
LATEST DOWNLOADED 2025/2026 A COMPLETE SOLUTION
ALL ANSWERS HAVE IT CORRECT DETAILED BEST GRADED A+
FOR SUCCESS
60 days - CORRECT ANSWERS If an individual wants to transfer funds from their 401(k)
plan into a Rollover IRA, what is the maximum allowed time in order to be eligible for a tax-free
rollover?
Annuity Funding plan - CORRECT ANSWERS Which of the following qualified employer
retirement plans is NOT recognized as a 'defined contribution' plan?
40 credits - CORRECT ANSWERS What is the full amount of Social Security credits
needed to be fully insured for benefits?
Long-term care rider - CORRECT ANSWERS Which life rider allows for care in a
convalescent or nursing home?
Extended term option - CORRECT ANSWERS If Jim decides to cancel his whole life
insurance policy and uses his policy's cash value to purchase a term life policy with a face
amount of equal value but with a likely shorter coverage period, he is utilizing which type of life
insurance nonforfeiture option?
Consideration Clause - CORRECT ANSWERS Which provision or clause below will
illustrate the frequency and amount of policy premiums?
A term life policy builds cash value over the policy's term. - CORRECT ANSWERS Which
of the following statements describing term life insurance is INCORRECT?
The insurance company evaluates the individuals within a group instead of the group as a
whole, and then measures the individual's risks against its underwriting standards. -
CORRECT ANSWERS In regards to group insurance, which statement below is
INCORRECT?
,214 FLORIDA INSURANCE EXAM QUESTIONS AND ANSWERS
LATEST DOWNLOADED 2025/2026 A COMPLETE SOLUTION
ALL ANSWERS HAVE IT CORRECT DETAILED BEST GRADED A+
FOR SUCCESS
Central Medical Bureau (CMB) - CORRECT ANSWERS All of the following are sources for
obtaining information regarding an applicant's insurability EXCEPT:
An insurer is required to disclose medical information to an applicant in the event the applicant
is rejected due to findings in the report. - CORRECT ANSWERS Which of the following is
NOT required by the Fair Credit Reporting Act of 1970?
Friends - CORRECT ANSWERS Insurable interest exists between all of the following
EXCEPT:
The policy no longer meets the needs of the client - CORRECT ANSWERS Which of the
following reasons would justify a policy replacement?
Usually 2 years, but in some states only 1 year - CORRECT ANSWERS The Incontestable
Clause states that the insurer cannot contest the validity of a life insurance policy as long as it
remains in force after what period of time?
Non-contributory plans - CORRECT ANSWERS Group insurance plans that do not
require employees to pay a portion of policy premiums are referred to as:
4 credits - CORRECT ANSWERS What is the maximum number of Social Security credits
an individual can earn per year?
An annuity contract exchanged for a life insurance policy - CORRECT ANSWERS Under
the 1035 policy exchange provision, which of the following will NOT receive favorable tax
treatment?
, 214 FLORIDA INSURANCE EXAM QUESTIONS AND ANSWERS
LATEST DOWNLOADED 2025/2026 A COMPLETE SOLUTION
ALL ANSWERS HAVE IT CORRECT DETAILED BEST GRADED A+
FOR SUCCESS
Stock - CORRECT ANSWERS Which of the following insurers is best defined as a non-
participating company?
100% - CORRECT ANSWERS A non-contributory group policy requires which percentage
of eligible employees to be covered?
Revocable Designation - CORRECT ANSWERS Carla has named her husband Jeffrey as
the beneficiary to her life insurance policy. Under which beneficiary designation does she
remains in control of the policy and can make any changes she sees fit in the future?
Graded premium whole life - CORRECT ANSWERS Which type of whole life insurance
policy is characterized by affordable premiums in its initial years, then gradually increasing over
the next few years until finally leveling off at a slightly higher rate than a standard whole life
policy?
Cash surrender option, reduced paid-up option and extended term option - CORRECT
ANSWERS In the event that a whole life insurance policy lapses due to nonpayment or it is
intentionally cancelled, which of the following nonforfeiture options are available to the
policyowner?
1000x24 months = ? - CORRECT ANSWERS Carl purchased an Immediate Annuity with a
5-year 'life with period certain option,' which pays him $1,000 per month. Exactly 3 years after
his policy start date Carl dies. How much money will his beneficiary receive for the remainder of
the policy?
His distribution payment amount will fluctuate depending on the return of interest at the time
of each distribution payment - CORRECT ANSWERS Leon currently receives $650 per
month from his variable annuity. Since he is scheduled to receive payments from his variable
