Florida 2-15 Insurance License Exam
at the time of annuity payout. - ✔✔- ACTUAL ANSWER- Accumulation units are converted into
annuity units:
noncontributory - ✔✔- ACTUAL ANSWER- A group life insurance plan in which the employer
pays the entire premium is known as a ________________ plan.
FALSE - ✔✔- ACTUAL ANSWER- If a disabled worker covered under Social Security disability
benefits recovers and then is disabled again within five years, a new waiting period is required
before benefits begin again.
After 5 months - ✔✔- ACTUAL ANSWER- Robert had an accident and qualified for Social
Security disability. Given the waiting period, when will Robert begin to receive benefits?
beneficiary - ✔✔- ACTUAL ANSWER- The Insuring Clause includes all of the following
EXCEPT the
mutual - ✔✔- ACTUAL ANSWER- Mutualization occurs when a stock company turns to a
__________ company.
stop-loss - ✔✔- ACTUAL ANSWER- To provide a safeguard for insureds, most major medical
policies contain a ____________ feature that limits the insured's out-of-pocket expenses.
Acme Insurance Agency - ✔✔- ACTUAL ANSWER- Tom is a newly appointed life, health and
variable annuity agent with Acme Insurance Agency. He is writing his first insurance policy on
his brother-in-law's life. Who does Tom legally represent in this transaction?
both the insurer and the insured - ✔✔- ACTUAL ANSWER- An insurance clause is a distinct
article in a formal document that establishes the rules in the contract that
_____________________ must adhere to.
FALSE - ✔✔- ACTUAL ANSWER- "ACC" refers to the type of disability that prevents someone
from performing the job he was performing prior to the disability.
An examination can be conducted at any time to discover any unfair trade practices. - ✔✔-
ACTUAL ANSWER- Which statement is CORRECT about the Department of Financial Services'
right to examine an agent's records?
rebating - ✔✔- ACTUAL ANSWER- Bill gives Jim a couple of tickets to a Florida Gators game
to thank him for purchasing a policy. This is an example of:
, Level - ✔✔- ACTUAL ANSWER- ____________ term insurance provides a level amount of
protection for a specified period, after which the policy expires.
TRUE - ✔✔- ACTUAL ANSWER- Business overhead expense (B.O.E.) insurance does not
provide benefits to cover the business owner's salary.
term - ✔✔- ACTUAL ANSWER- Level, decreasing, and increasing insurance are all basic
forms of ____________ insurance.
TRUE - ✔✔- ACTUAL ANSWER- Hospice services are covered under Medicare Part A.
TRUE - ✔✔- ACTUAL ANSWER- Under Florida law, group health insurers must offer mental
and nervous disorder insurance to policyowners.
$1,000 plus. - ✔✔- ACTUAL ANSWER- Deductibles under a group major medical plan usually
run from $250 to $500; whereas individual health plans usually run from:
a member's handbook. - ✔✔- ACTUAL ANSWER- Every HMO subscriber must receive a
benefits package that includes a copy of the HMO contract and certificate, and:
surrendered for its cash value. - ✔✔- ACTUAL ANSWER- A life insurance policy will not be
reinstated if it has been:
Term Life - ✔✔- ACTUAL ANSWER- Which of the following is NOT a type of permanent life
insurance?
parent or legal guardian - ✔✔- ACTUAL ANSWER- In Florida, a ______________ must sign
for and on behalf of a minor purchasing life insurance.
defamation - ✔✔- ACTUAL ANSWER- When an agent spreads a false story that damages a
competing agent's reputation, the offense is called:
Churning - ✔✔- ACTUAL ANSWER- __________ is when policy values of an insurance policy
are used to purchase another policy with the same insurer for the sole purpose of earning
additional premiums or commissions.
Certificate of Authority - ✔✔- ACTUAL ANSWER- Once an organization has filed an application
to conduct insurance business, the Office of Insurance Regulation will begin its review for
issuing a(n):
TRUE - ✔✔- ACTUAL ANSWER- Florida law requires health insurance policies and HMO
contracts to provide coverage for all medically necessary equipment, supplies and services
used to treat diabetes when the patient's physician certifies that they are medically necessary.
at the time of annuity payout. - ✔✔- ACTUAL ANSWER- Accumulation units are converted into
annuity units:
noncontributory - ✔✔- ACTUAL ANSWER- A group life insurance plan in which the employer
pays the entire premium is known as a ________________ plan.
FALSE - ✔✔- ACTUAL ANSWER- If a disabled worker covered under Social Security disability
benefits recovers and then is disabled again within five years, a new waiting period is required
before benefits begin again.
After 5 months - ✔✔- ACTUAL ANSWER- Robert had an accident and qualified for Social
Security disability. Given the waiting period, when will Robert begin to receive benefits?
beneficiary - ✔✔- ACTUAL ANSWER- The Insuring Clause includes all of the following
EXCEPT the
mutual - ✔✔- ACTUAL ANSWER- Mutualization occurs when a stock company turns to a
__________ company.
stop-loss - ✔✔- ACTUAL ANSWER- To provide a safeguard for insureds, most major medical
policies contain a ____________ feature that limits the insured's out-of-pocket expenses.
Acme Insurance Agency - ✔✔- ACTUAL ANSWER- Tom is a newly appointed life, health and
variable annuity agent with Acme Insurance Agency. He is writing his first insurance policy on
his brother-in-law's life. Who does Tom legally represent in this transaction?
both the insurer and the insured - ✔✔- ACTUAL ANSWER- An insurance clause is a distinct
article in a formal document that establishes the rules in the contract that
_____________________ must adhere to.
FALSE - ✔✔- ACTUAL ANSWER- "ACC" refers to the type of disability that prevents someone
from performing the job he was performing prior to the disability.
An examination can be conducted at any time to discover any unfair trade practices. - ✔✔-
ACTUAL ANSWER- Which statement is CORRECT about the Department of Financial Services'
right to examine an agent's records?
rebating - ✔✔- ACTUAL ANSWER- Bill gives Jim a couple of tickets to a Florida Gators game
to thank him for purchasing a policy. This is an example of:
, Level - ✔✔- ACTUAL ANSWER- ____________ term insurance provides a level amount of
protection for a specified period, after which the policy expires.
TRUE - ✔✔- ACTUAL ANSWER- Business overhead expense (B.O.E.) insurance does not
provide benefits to cover the business owner's salary.
term - ✔✔- ACTUAL ANSWER- Level, decreasing, and increasing insurance are all basic
forms of ____________ insurance.
TRUE - ✔✔- ACTUAL ANSWER- Hospice services are covered under Medicare Part A.
TRUE - ✔✔- ACTUAL ANSWER- Under Florida law, group health insurers must offer mental
and nervous disorder insurance to policyowners.
$1,000 plus. - ✔✔- ACTUAL ANSWER- Deductibles under a group major medical plan usually
run from $250 to $500; whereas individual health plans usually run from:
a member's handbook. - ✔✔- ACTUAL ANSWER- Every HMO subscriber must receive a
benefits package that includes a copy of the HMO contract and certificate, and:
surrendered for its cash value. - ✔✔- ACTUAL ANSWER- A life insurance policy will not be
reinstated if it has been:
Term Life - ✔✔- ACTUAL ANSWER- Which of the following is NOT a type of permanent life
insurance?
parent or legal guardian - ✔✔- ACTUAL ANSWER- In Florida, a ______________ must sign
for and on behalf of a minor purchasing life insurance.
defamation - ✔✔- ACTUAL ANSWER- When an agent spreads a false story that damages a
competing agent's reputation, the offense is called:
Churning - ✔✔- ACTUAL ANSWER- __________ is when policy values of an insurance policy
are used to purchase another policy with the same insurer for the sole purpose of earning
additional premiums or commissions.
Certificate of Authority - ✔✔- ACTUAL ANSWER- Once an organization has filed an application
to conduct insurance business, the Office of Insurance Regulation will begin its review for
issuing a(n):
TRUE - ✔✔- ACTUAL ANSWER- Florida law requires health insurance policies and HMO
contracts to provide coverage for all medically necessary equipment, supplies and services
used to treat diabetes when the patient's physician certifies that they are medically necessary.
