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FLORIDA LIFE AND HEALTH 2-15 AINAL EXAM
QUESTIONS WITH COMPLETE SOLUTIONS GUARANTEED
PASS 2025/2026
What is straight whole life insurance? -ANSWER ->Is a basic whole life
insurance with a level face amount and fixed premiums payable over
the insured's entire life
What is limited pay whole life insurance? -ANSWER ->-Whole life
insurance where premiums are paid for a limited time
-As the premium payment period shortens, cash values increase faster
and the fixed premiums are higher
What is single premium whole life insurance? -ANSWER ->Allows the
insured to pay the entire premium in one lump sum and have coverage
for the entire life of the insured
What is modified whole life? -ANSWER ->Low premiums in the early
years and jumps to a higher premium in the later years, then remains
fixed
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What is graded whole life? -ANSWER ->Premium increases yearly for a
stated # of years, then remains level
What are the characteristics of universal life insurance? -ANSWER ->1.
Investment gains go towards cash value
2. Allows its policy owners to determine the amount and frequency of
premium payments which will adjust the policy face amount
3. Cash value accumulations are subject to a minimum interest
guarantee
4. Flexible premiums, flexible benefits, no minimum death benefit, and
cash value withdrawals
What is Variable whole life insurance? -ANSWER ->Fixed premiums, a
guaranteed minimum death benefit, and cash values which fluctuate
and are NOT guaranteed
What is Variable universal life insurance? -ANSWER ->-Flexible
premiums, adjustable death benefits, a guaranteed minimum death
benefit, and gives the insured growth potentifl for higher returns, but
also potentifl for loss
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What is an insuring clause? -ANSWER ->The insurer's basic promise to
pay specified benefits to a designated person in the event of a covered
loss
What is a consideration clause? -ANSWER ->A clause that a policyowner
must pay in exchange for the insurer's promise to pay benefits
-The policy owner's consideration consists of completing the application
and paying the initifl premium
What does an entire contract consist of? -ANSWER ->The actual policy
and the application
What is a contributory group insurance plan? -ANSWER ->An employee
group plan in which employees share the cost
What is a noncontributory group insurance plan? -ANSWER ->An
employee group plan in which employees do not share the cost
What role do employees play in group insurance? -ANSWER >Certificate
holders
What role do employers play in group insurance? -ANSWER ->Contract
holders
FLORIDA LIFE AND HEALTH 2-15 AINAL EXAM
QUESTIONS WITH COMPLETE SOLUTIONS GUARANTEED
PASS 2025/2026
What is straight whole life insurance? -ANSWER ->Is a basic whole life
insurance with a level face amount and fixed premiums payable over
the insured's entire life
What is limited pay whole life insurance? -ANSWER ->-Whole life
insurance where premiums are paid for a limited time
-As the premium payment period shortens, cash values increase faster
and the fixed premiums are higher
What is single premium whole life insurance? -ANSWER ->Allows the
insured to pay the entire premium in one lump sum and have coverage
for the entire life of the insured
What is modified whole life? -ANSWER ->Low premiums in the early
years and jumps to a higher premium in the later years, then remains
fixed
,2
What is graded whole life? -ANSWER ->Premium increases yearly for a
stated # of years, then remains level
What are the characteristics of universal life insurance? -ANSWER ->1.
Investment gains go towards cash value
2. Allows its policy owners to determine the amount and frequency of
premium payments which will adjust the policy face amount
3. Cash value accumulations are subject to a minimum interest
guarantee
4. Flexible premiums, flexible benefits, no minimum death benefit, and
cash value withdrawals
What is Variable whole life insurance? -ANSWER ->Fixed premiums, a
guaranteed minimum death benefit, and cash values which fluctuate
and are NOT guaranteed
What is Variable universal life insurance? -ANSWER ->-Flexible
premiums, adjustable death benefits, a guaranteed minimum death
benefit, and gives the insured growth potentifl for higher returns, but
also potentifl for loss
, 3
What is an insuring clause? -ANSWER ->The insurer's basic promise to
pay specified benefits to a designated person in the event of a covered
loss
What is a consideration clause? -ANSWER ->A clause that a policyowner
must pay in exchange for the insurer's promise to pay benefits
-The policy owner's consideration consists of completing the application
and paying the initifl premium
What does an entire contract consist of? -ANSWER ->The actual policy
and the application
What is a contributory group insurance plan? -ANSWER ->An employee
group plan in which employees share the cost
What is a noncontributory group insurance plan? -ANSWER ->An
employee group plan in which employees do not share the cost
What role do employees play in group insurance? -ANSWER >Certificate
holders
What role do employers play in group insurance? -ANSWER ->Contract
holders
