Florida 215 Life, Health, Insurance Law Practice Exam
A 15-year mortgage is best protected by what kind of life 15-year mortgage is best protected by a 15-year decreasing term
policy?
A 55 year old recently received $30,000 distribution from a Income taxes plus 10% penalty tax on $30,000 (All withdraws from
previous employers 401k plan, minus $6,000 withholding. retirement planner taxable as current income. In addition any wit
Which federal taxes apply if none of the funds were rolled before 59 1/2 is subject to an additional tax penalty of 10% of the
over? withdrawn
A 66 year old is covered under a group health plan while Her Group Health Plan (If the employee has more than 20 employ
employed with a business that has 40 employees. If she health plan generally pays first.)
injures herself while walking in the park, what coverage
would be primary?
An accident policy will most likely pay a benefit for an: Of the job accident
According to the Mandatory Uniform Policy Provisions, 31 Days
what is the maximum amount of time after the premium die
date during which the policy remains in force even though
the premium has not been paid?
Additional coverage can be added to a Whole Life Policy Decreasing term Rider
by adding an?
, Florida 215 Life, Health, Insurance Law Practice Exam
Additional coverage can be added to a Whole Life policy Decreasing Term Rider
by adding a(n)
AD&D Rider (Accidental Death & Dismemberment) is NOT TRUE
included in an annuity contract
Agent J takes an application and initial premium from an Return the check to the customer, collect a new check made out t
applicant and sends the application and premium check to company, and send it back out to the Insurance company.
the insurance company. The insurance company returns the
check back to J because the check is made out to J and not
the insurance company, the action J should take is:
Agent J takes an application and initial premium from an Return the check to the customer, collect a new check made out t
applicant and sends the application and premium check to company, and send the new check to the insurance company
the insurance company. The insurance company returns the
check back to J because the check is made out to J instead
of the insurance company. What action should J take?
The Agreement in a life insurance contract that states a Insuring Agreement
specific sum of money will be paid to a designated person
upon an insured's death is called an?
, Florida 215 Life, Health, Insurance Law Practice Exam
All individuals covered under a group contract will receive Certificate
an?
At what point does an informal agreement become a When consideration is provided by one of the parties to the contr
binding contract?
At What point must a life insurance applicant be informed Upon completion of the application
of their rights that fall under the fair credit reporting act?
The benefits under a Disability Buy-Out Policy are: Payable to the company or another shareholder
A Bilateral typically has characteristics describing the False
nature of an insurance contract.
B owns a Whole life policy with a guaranteed insurability Additional whole life coverage at specified times
option that allows him to purchase, without evidence of
insurability, state amounts of?
Cash may be borrowed against a "Whole Life Policy" TRUE
C is a key employee at ABC incorporated. If a Key ABC is the policy owner, C is the insured, and ABC is the beneficia
employee life policy is purchased on her life:
, Florida 215 Life, Health, Insurance Law Practice Exam
C is trying to determine whether to convert her convertible The Cost
term life policy to whole life insurance using her original
age or attained age. What factor would affect her decision
the most?
The combination of Whole Life and Decreasing Term TRUE
insurance is referred to as a Family Income Policy
The Common Disaster clause provides that if not the The clause is payable to the insured’s estate
insured and the sole named beneficiary were to die in a
common accident, this clause means?
A company that owns a life insurance policy on one of its Change the policy’s interest rate
key employees can't?
Company XYZ offers a group Term Life insurance plan to its A certificate of insurance
employees. What does each employee cover under this
plane receive?
A 15-year mortgage is best protected by what kind of life 15-year mortgage is best protected by a 15-year decreasing term
policy?
A 55 year old recently received $30,000 distribution from a Income taxes plus 10% penalty tax on $30,000 (All withdraws from
previous employers 401k plan, minus $6,000 withholding. retirement planner taxable as current income. In addition any wit
Which federal taxes apply if none of the funds were rolled before 59 1/2 is subject to an additional tax penalty of 10% of the
over? withdrawn
A 66 year old is covered under a group health plan while Her Group Health Plan (If the employee has more than 20 employ
employed with a business that has 40 employees. If she health plan generally pays first.)
injures herself while walking in the park, what coverage
would be primary?
An accident policy will most likely pay a benefit for an: Of the job accident
According to the Mandatory Uniform Policy Provisions, 31 Days
what is the maximum amount of time after the premium die
date during which the policy remains in force even though
the premium has not been paid?
Additional coverage can be added to a Whole Life Policy Decreasing term Rider
by adding an?
, Florida 215 Life, Health, Insurance Law Practice Exam
Additional coverage can be added to a Whole Life policy Decreasing Term Rider
by adding a(n)
AD&D Rider (Accidental Death & Dismemberment) is NOT TRUE
included in an annuity contract
Agent J takes an application and initial premium from an Return the check to the customer, collect a new check made out t
applicant and sends the application and premium check to company, and send it back out to the Insurance company.
the insurance company. The insurance company returns the
check back to J because the check is made out to J and not
the insurance company, the action J should take is:
Agent J takes an application and initial premium from an Return the check to the customer, collect a new check made out t
applicant and sends the application and premium check to company, and send the new check to the insurance company
the insurance company. The insurance company returns the
check back to J because the check is made out to J instead
of the insurance company. What action should J take?
The Agreement in a life insurance contract that states a Insuring Agreement
specific sum of money will be paid to a designated person
upon an insured's death is called an?
, Florida 215 Life, Health, Insurance Law Practice Exam
All individuals covered under a group contract will receive Certificate
an?
At what point does an informal agreement become a When consideration is provided by one of the parties to the contr
binding contract?
At What point must a life insurance applicant be informed Upon completion of the application
of their rights that fall under the fair credit reporting act?
The benefits under a Disability Buy-Out Policy are: Payable to the company or another shareholder
A Bilateral typically has characteristics describing the False
nature of an insurance contract.
B owns a Whole life policy with a guaranteed insurability Additional whole life coverage at specified times
option that allows him to purchase, without evidence of
insurability, state amounts of?
Cash may be borrowed against a "Whole Life Policy" TRUE
C is a key employee at ABC incorporated. If a Key ABC is the policy owner, C is the insured, and ABC is the beneficia
employee life policy is purchased on her life:
, Florida 215 Life, Health, Insurance Law Practice Exam
C is trying to determine whether to convert her convertible The Cost
term life policy to whole life insurance using her original
age or attained age. What factor would affect her decision
the most?
The combination of Whole Life and Decreasing Term TRUE
insurance is referred to as a Family Income Policy
The Common Disaster clause provides that if not the The clause is payable to the insured’s estate
insured and the sole named beneficiary were to die in a
common accident, this clause means?
A company that owns a life insurance policy on one of its Change the policy’s interest rate
key employees can't?
Company XYZ offers a group Term Life insurance plan to its A certificate of insurance
employees. What does each employee cover under this
plane receive?
