FLORIDA HEALTH AND LIFE INSURANCE EXAM 2024 AND PRACTICE EXAM TEST BANK | 450 ACCURATE REAL EXAM QUESTIONS WITH VERIFIED ANSWERS | ACCURATE FOR GUARANTEED PASS | GRADED A

FLORIDA HEALTH AND LIFE INSURANCE
EXAM 2024 AND PRACTICE EXAM TEST
BANK | 450 ACCURATE REAL EXAM
QUESTIONS WITH VERIFIED ANSWERS |
ACCURATE FOR GUARANTEED PASS |
GRADED
K, age 45 and his wife age 43 have 3 children. They purchase a family policy that
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covers K's wife until 65. All of these will pay a death benefit except -
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33 ANSWER>>wife dies at age 66 33 33 33 33




If an individual has an Accidental Death and Dismemberment policy and dies, and
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33 autopsy can be performed in all these situations, EXCEPT: - ANSWER>>When the
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33 state prohibits this by law
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P is a producer who notices 5 questions on a life application were not answered.
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33 What actions should P take? - ANSWER>>Set up a meeting with the applicant to
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33 answer the remaining questions 33 33 33




A disability elimination period is best described as a: - ANSWER>>time deductible
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Which type of insurance company allows their policyowners to elect a governing
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33 body? - ANSWER>>Mutual 33 33




Two partners own equal shares in a business worth a total of $1,000,000. If they
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33 both commit to the purchase of a life insurance policy that will fund a Buy-Sell
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,Agreement, which of the following is TRUE? - ANSWER>>Each partner owns a 33 33 33 33 33 33 33 33 33 33 33




$500,000 policy on their partner's life 33 33 33 33 33




N is a student pilot with a large life insurance policy. Which of these features
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33 would limit the insurer's obligation in the event N was killed while flying as a
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33 student pilot? - ANSWER>>Exclusion 33 33 33




Which of these types of policies may NOT have the Automatic Premium Loan
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33 provision attached to it? - ANSWER>>decreasing term 33 33 33 33 33 33




A provision in a life insurance policy that pays the policyowner an amount that
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33 does not surpass the guaranteed cash value is called the - ANSWER>>policy loan
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33 provision


Which rider provides coverage for a child under a parent's life insurance policy? -
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33 ANSWER>>child term rider 33 33




Which of these life insurance riders allows the applicant to have excess coverage?
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- ANSWER>>term rider
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Automatic Premium Loan Provision is designed to - ANSWER>>avoid a policy
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33 lapse


How do life insurance companies handle cases where the insured commits suicide
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within the contract's stated Contestable period? - ANSWER>>claims are denied
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33 under the suicide clause of the policy
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,Accidental Death and Dismemberment provision in a life insurance policy would
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pay additional benefits if the insured - ANSWER>>is blinded in an accident
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All of these Settlement options involve the systematic liquidation of the death
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33 proceeds in the event of the insured's death EXCEPT - ANSWER>>interest only
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which of the following provisions guarantees that premiums will be waived if the
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33 juvenile life policy owner becomes disabled - ANSWER>>payor clause
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K pays on a $20,000 20-Year Endowment policy for 10 years and dies from an
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33 automobile accident. How much will the insurance company pay the beneficiary?
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- ANSWER>>20K death benefit
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the has the right to change a life insurance policy beneficiary -
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33 ANSWER>>policyowner


which statement regarding the misstatement of age provision is considered to be
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33 true - ANSWER>>coverage will be adjusted to reflect the true age if it is
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33 discovered


what action can a policy owner take if an application for a bank loan requires
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33 collateral - ANSWER>>assign policy ownership to the bank
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An insured is past due on his life insurance premium, but is still within the Grace
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33 Period. What will the beneficiary receive if the insured dies during this Grace
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33 Period? - ANSWER>>full face amount minus any past due premiums
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, The incontestable clause allows an insurer to - ANSWER>>contest a claim during
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the contestable period
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According to Mandatory Uniform Policy Provisions, what is the maximum amount
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of time after the premium due date during which the policy remains in force even
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33 though the premium has not been paid? - ANSWER>>31 days
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G purchased a Family Income policy at age 40. The policy has a 20-year rider
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33 period. If G were to die at age 50, how long would G's family receive an income?
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- ANSWER>>10 years
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E and F are business partners. Each takes out a $500,000 life insurance policy on
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33 the other, naming himself as primary beneficiary. E and F eventually terminate
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33 their business, and four months later E dies. Although E was married with three
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33 children at the time of death, the primary beneficiary is still F. However, an
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33 insurable interest no longer exists. Where will the proceeds from E's life insurance
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33 policy be directed to? - ANSWER>>F 33 33 33 33 33




The Health Insurance Portability and Accountability Act (HIPAA) gives privacy
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33 protection for: - ANSWER>>health information 33 33 33 33




What do Dread Disease policies cover? - ANSWER>>A specific disease or illness
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When an insurance application is taken by a producer, which of these statements is
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33 true? - ANSWER>>Any changes made on the application require the applicant's
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33 initials