Florida 215 exam Questions and Answers
Save
Terms in this set (180)
According to Florida's legal reserve
Standard Valuation Law,
the __________________ is
mandatory.
1) Certificate of Authority
2) Director of the Office of
Insurance Regulation
3) legal reserve
Group health plans that provide for dividends
are issued by mutual
companies usually:
1) provide for dividends.
2) issue experience-rated
plans.
3) are noncancellable for
a period of two years.
4) are renewable after a
six-month time period.
Mutualization occurs mutual
when a stock company
turns to a __________
company.
1) private2) mutual 3)
mixed4) nonpar
,Which of the following human life values
best describes the true
value of insurance? "The
true value of insurance lies
in its ability to protect
__________."
1) individual finances
2) the family
3) human life values
4) family heirlooms
The ______________ annuity cash refund
option provides a
guaranteed income to the
annuitant for life and if the
insured dies prematurely,
the balance of the
principal is paid out in a
lump sum to the
annuitant's beneficiary.
1) installment refund
2) cash refund
3) life with period certain
4) period certain
Adjustable life policies are whole life
constructed using which
of the following as their
base policy?
1) Permanent Term
2) Whole Life
3) Annuities
4) Increasing Term
,The determination of a government agency
disability for Social
Security purposes is
usually made by:
1) the individual's
physician.2) a hospital
staff.3) a government
agency.4) the person's
employer.
At the time of annuity prospectus
presentation, the client
must be given a
_______________ which provides
full and fair disclosure on
the nature and purpose of
the plan and the risks
involved.
1) buyer's guide
2) policy summary
3) prospectus
4) statement
Which of the following monthly
premium payment modes
will result in the highest
total out-of-pocket costs?
1) Monthly2) Quarterly3)
Semi-annually4) Annually
NAIC policy provisions 90 days
state that health policy
participants have ________ in
which to file proof of loss,
if reasonably possible.
1) 60 days2) 90 days3) 30
days4) 45 days
, TRUE or False: TRUE
Medical Expense
insurance is based on a
contract of
reimbursement.
Joan's insurance agent, rebating
Tim, has offered her a $100
dinner gift certificate if
Joan purchases a life
insurance policy from Tim.
Tim has violated ethical
sales practices by:
1) twisting.2) churning.3)
misrepresentation.4)
rebating.
Not only do ___________ Life whole
policies build cash value,
they also mature at age
100 at which time benefits
are mandated to be paid.
1) Whole
2) Universal
3) Modified
4) Term
TRUE or FALSE TRUE
All medical care including
premiums is fully tax-
deductible if a person is
self-employed.
Save
Terms in this set (180)
According to Florida's legal reserve
Standard Valuation Law,
the __________________ is
mandatory.
1) Certificate of Authority
2) Director of the Office of
Insurance Regulation
3) legal reserve
Group health plans that provide for dividends
are issued by mutual
companies usually:
1) provide for dividends.
2) issue experience-rated
plans.
3) are noncancellable for
a period of two years.
4) are renewable after a
six-month time period.
Mutualization occurs mutual
when a stock company
turns to a __________
company.
1) private2) mutual 3)
mixed4) nonpar
,Which of the following human life values
best describes the true
value of insurance? "The
true value of insurance lies
in its ability to protect
__________."
1) individual finances
2) the family
3) human life values
4) family heirlooms
The ______________ annuity cash refund
option provides a
guaranteed income to the
annuitant for life and if the
insured dies prematurely,
the balance of the
principal is paid out in a
lump sum to the
annuitant's beneficiary.
1) installment refund
2) cash refund
3) life with period certain
4) period certain
Adjustable life policies are whole life
constructed using which
of the following as their
base policy?
1) Permanent Term
2) Whole Life
3) Annuities
4) Increasing Term
,The determination of a government agency
disability for Social
Security purposes is
usually made by:
1) the individual's
physician.2) a hospital
staff.3) a government
agency.4) the person's
employer.
At the time of annuity prospectus
presentation, the client
must be given a
_______________ which provides
full and fair disclosure on
the nature and purpose of
the plan and the risks
involved.
1) buyer's guide
2) policy summary
3) prospectus
4) statement
Which of the following monthly
premium payment modes
will result in the highest
total out-of-pocket costs?
1) Monthly2) Quarterly3)
Semi-annually4) Annually
NAIC policy provisions 90 days
state that health policy
participants have ________ in
which to file proof of loss,
if reasonably possible.
1) 60 days2) 90 days3) 30
days4) 45 days
, TRUE or False: TRUE
Medical Expense
insurance is based on a
contract of
reimbursement.
Joan's insurance agent, rebating
Tim, has offered her a $100
dinner gift certificate if
Joan purchases a life
insurance policy from Tim.
Tim has violated ethical
sales practices by:
1) twisting.2) churning.3)
misrepresentation.4)
rebating.
Not only do ___________ Life whole
policies build cash value,
they also mature at age
100 at which time benefits
are mandated to be paid.
1) Whole
2) Universal
3) Modified
4) Term
TRUE or FALSE TRUE
All medical care including
premiums is fully tax-
deductible if a person is
self-employed.
