Florida 2-15 Insurance License Exam
According to Florida's Standard Valuation Law, the
__________________ is mandatory.
legal reserve
"ACC" refers to the type of disability that prevents
someone from performing the job he was
performing prior to the disability.
FALSE
Accumulation units are converted into annuity units:
at the time of annuity payout.
, Florida 2-15 Insurance License Exam
The ____________________ Act mandated once and for all
that insurance would be regulated by the states.
McCarran-Ferguson
AD&D policies make benefits payable in the form of
principal sum and capital sum.
TRUE
An agent engaged in churning as a result of
fraudulent conduct is subject to a fine of ________ for
each willful violation. (2012)
$50,000
, Florida 2-15 Insurance License Exam
Agents should check with _________________ to determine
if the insurer they are representing is a properly
authorized insurer.
the Department of Financial Services
An agreement that provides that upon a business
owner's death, surviving owners will purchase the
deceased's interest, often with funds from life
insurance policies owned by each principal on the
lives of all other principals is the:
Buy-Sell plan.
All statements made on an application are
considered ________________ because there can be no
guarantee that they are true.
representations
, Florida 2-15 Insurance License Exam
Annuity payment amounts are based upon which of
the following factors?
Starting principal, interest, and income period
Anyone under the age of _____ who has earned
income may open a traditional IRA.
70 1/2
__________________ are the two most important factors in
the health insurance underwriting process.
Medical history and occupation
Basic Medical Expense insurance limits coverage to
specific types of medical care.
TRUE
According to Florida's Standard Valuation Law, the
__________________ is mandatory.
legal reserve
"ACC" refers to the type of disability that prevents
someone from performing the job he was
performing prior to the disability.
FALSE
Accumulation units are converted into annuity units:
at the time of annuity payout.
, Florida 2-15 Insurance License Exam
The ____________________ Act mandated once and for all
that insurance would be regulated by the states.
McCarran-Ferguson
AD&D policies make benefits payable in the form of
principal sum and capital sum.
TRUE
An agent engaged in churning as a result of
fraudulent conduct is subject to a fine of ________ for
each willful violation. (2012)
$50,000
, Florida 2-15 Insurance License Exam
Agents should check with _________________ to determine
if the insurer they are representing is a properly
authorized insurer.
the Department of Financial Services
An agreement that provides that upon a business
owner's death, surviving owners will purchase the
deceased's interest, often with funds from life
insurance policies owned by each principal on the
lives of all other principals is the:
Buy-Sell plan.
All statements made on an application are
considered ________________ because there can be no
guarantee that they are true.
representations
, Florida 2-15 Insurance License Exam
Annuity payment amounts are based upon which of
the following factors?
Starting principal, interest, and income period
Anyone under the age of _____ who has earned
income may open a traditional IRA.
70 1/2
__________________ are the two most important factors in
the health insurance underwriting process.
Medical history and occupation
Basic Medical Expense insurance limits coverage to
specific types of medical care.
TRUE
