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Examen
Florida 2-20 Exam Preparation Questions and Correct Answers
Florida 2-20 Exam Preparation Questions and Correct Answers B. A general lines agent or a general lines insurance agency Who may appoint a Customer Representative? Select one: A. A surplus lines agent holding a general lines license and a surplus lines license B. A general lines agent or a general lines insurance agency C. An adjuster D. An insurance company D. After 90 days in Florida Mr. Smith lives in New Jersey but visits Florida each year. When does he come under the Florida N...
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Life and Health State Exam Questions and 100% Correct Answers
Life and Health State Exam Questions and 100% Correct Answers What documentation grants express authority to an agent? a. Fiduciary Contract b. State provisions c. Agent's contract with the principal d. Agent's insurance license Agent's contract with the principal Which of the following must an insurer obtain in order to transact insurance within a given state? a. Certificate of authority b. Producer's certificate c. Business entity license d. Insurer's license Cert...
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Florida 2-15 Insurance License Exam Questions and Correct Answers
Florida 2-15 Insurance License Exam Questions and Correct Answers Accumulation units are converted into annuity units: at the time of annuity payout. A group life insurance plan in which the employer pays the entire premium is known as a ________________ plan. noncontributory 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. FALSE Robert had an acc...
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Florida Health and Life Chapter 1 Review Questions and Correct Answers
Florida Health and Life Chapter 1 Review Questions and Correct Answers Reserve funds held by the company to help fulfill future claims Multi-lane insurer an insurance company/independent agent that provides a one-stop shop for businesses or individuals seeking coverage for all their insurance needs. Stock Companies insurance companies owned and controlled by a group of stockholders whose investment in the company provides the safety margin necessary in issuance of guaranteed, fixed prem...
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Florida Life and Health Pre-licensing Test Questions and Correct Answers
Florida Life and Health Pre-licensing Test Questions and Correct Answers Participating When a policy pays dividends to its policyholders, it is said to be Risk Retention Assesses and spreads risk of liability to members Policyholders Elects the governing body of a mutual insurance company Investor Contract Life insurance arrangement which circumvents insurable interest statuses Investor Originated Life Insurance (IOLI) allows one to bypass insurable interest laws Stranger-Origi...
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Health and Life Insurance Study Guide with Questions and Correct Answers
Health and Life Insurance Study Guide with Questions and Correct Answers According to the laws of agency, an insurance agent appointed by an insurance company acts on behalf of: the appointing insurer Which characteristic about an insurance policy prevents the policyowner from transferring it to a third party without the insurer's consent? personal Which entity spreads the cost of losses among its members by having each member pay a pro-rata share of these losses? reciprocal insurer ...
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Life, Health, Variable Annuity Review Questions and Correct Answers
Life, Health, Variable Annuity Review Questions and Correct Answers The purpose of Disability Income insurance is to provide: protection against economic death Old Man AnnaCee, 67 yrs old, has had a policy for 16 years. In addition to his regular grace period he will have an additional grace period of how many days? 30 days 21 days 31 days there are no additional days 21 days Which premium factor is not common to both life and health insurance? 1. age & sex 2. dividends 3. ...
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2-15 Life, Health, and Variable Annuities- State of FL Exam Questions and Correct Answers
2-15 Life, Health, and Variable Annuities- State of FL Exam Questions and Correct Answers Insurance Financial protection against loss or harm - An arrangement by which company gives customers financial protection against loss or harm such as theft or illness in return for premium payments. Life Insurance Is based on actuarial or mathematical principles and guarantees a specified sum of money upon the death of the person who is insured. Health Insurance Evolved from scientific principles t...
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FL Life and Health State Exam Study Questions and Correct Answers
FL Life and Health State Exam Study Questions and Correct Answers To an individual policy upon employment termination T is an employee covered under a Group Life policy. If T's employment is terminated, the conversion privilege gives T the right to convert Self maintenance expenses Which of these factors does NOT influence an applicant's need for life insurance? Full face amount minus any past due premiums An insured is past due on his life insurance premium, but is still within t...
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Florida Health & Life (Including Annuities & Variable Contracts) Questions and Correct Answers
Florida Health & Life (Including Annuities & Variable Contracts) Questions and Correct Answers Risk Can be defined as uncertainty regarding financial loss Speculative Risks You can Win or lose/ loss or gain Pure Risks Only change is Loss Peril defined as the immediate specific event causing loss and giving rise to risk. Hazard A factor that give rise to a Peril 1- physical Hazards Deafness and blindness-increase the chance of a peril 2-Moral Hazards Alcohol/drug addiction/intentional..ten...
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Certification Exam- Florida Life and Health Pre-Licensing Review Questions and Correct Answers
Certification Exam- Florida Life and Health Pre-Licensing Review Questions and Correct Answers What percentage of eligible persons must be a policy cover in a noncontributory group? 100% In Florida, a health policy that is paid on a quarterly basis requires a grace period of 31 days T is an employee covered under a Group Life policy. If T's employment is terminated, the conversion privilege gives T the right to convert to an individual policy upon employment termination The minimu...
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FL Exam Study for Health and Life Insurance, Part 2 Questions and Correct Answers
FL Exam Study for Health and Life Insurance, Part 2 Questions and Correct Answers Insurer can increase premium on anniversary date and insurer has right to renew for life of contract Guaranteed renewability Dependent children benefits cover kids up to what age? 26 Reimbursed medical expenses can be claimed when? When expenses exceed 10% of adjusted gross income Contract where one company (reinsurer) indemnifies another insurance company (ceding) for or all of liabilities Reinsurance ...
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Florida Life and Health Laws and Rules Test Questions and Correct Answers
Florida Life and Health Laws and Rules Test Questions and Correct Answers An agent's license can be suspended or revoked by writing primarily controlled business What is the purpose of the Insurance Guaranty Fund Association? Protects policyowners against insolvent insurance companies Florida requires that coverage for newborns begins "from the moment of birth" and continues for 18 months What percentage of eligible persons must a policy cover in a noncontributory group? 100...
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Florida Agent's Health Insurance General Knowledge-Types of Policies Questions and Correct Answers
Florida Agent's Health Insurance General Knowledge-Types of Policies Questions and Correct Answers Short Term Medical Insurance A plan designed to provide temporary coverage fro people in transition. Abailable fo terms from 1 month to 11 months. Are not regulated by the Affordable Health Care Act. Enorllment is not limited but they do not meet the requiremnts of federally mandated health insurance converage. Accident-Only Policies Limited Policies and provide coverage for death, dismemberme...
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Florida XCEL Health Practice Exam Questions and Correct Answers 2025
Florida XCEL Health Practice Exam Questions and Correct Answers 2025 What type of insurance company is domiciled in England, but conducts business in Florida? Alien The minimum age at which a person can sign a life insurance application is 15 Years In Florida, monthly-premium health insurance policies must provide a grace period of at least 10 days W gave W's age as 50 when W purchased a Life policy. At the time of W's death seven years later, the company discovered W's true...
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CH 8 Florida Laws & Rules Pertinent to Insurance Practice Questions and Correct Answers
CH 8 Florida Laws & Rules Pertinent to Insurance Practice Questions and Correct Answers In Florida, what is the maximum percentage of controlled business an agent may produce? 50% Which Unfair Trade Practice involves an agent telling a prospective client that a policy's dividends are guaranteed? Misrepresentation In Florida, the underwriting and issuance of a master group health policy requires that all employees are eligible to participate, regardless of their individual health history A...
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Health Insurance Florida 2-40 Practice Exam Questions and Answers - Medical Expenses
Health Insurance Florida 2-40 Practice Exam Questions and Answers - Medical Expenses A) Basic Hospital/Surgical and Major Medical Comprehensive Medical Expense Insurance combines which of the following coverage in one policy: A) Basic Hospital/Surgical and Major Medical B) Disability Income and Accidental Death and Dismemberment C) Disability Income and Basic Hospital/Surgical D) Major Medical and Accidental Death and Dismemberment B) The amount paid will be reduced If the client goes out of t...
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Florida Life Insurance Practice Test Questions and Correct Answers
Florida Life Insurance Practice Test Questions and Correct Answers The receipt given to a life insurance applicant when the application is completed and the initial premium is recieved is called an Insurable Receipt Conditional receipt Unconditional receipt Ensuring receipt conditional receipt Statements in the app that are believed to be true Warranties Representations Waivers Ambiguties warranties All of the following apply to the waiver of premium EXCEPT The premium is...
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Florida State Health Insurance Test Questions and Correct Answers
Florida Life Insurance State Exam Simulator Questions and Correct Answers Post-tax dollar contributions are found in Roth IRA investments N purchases an annuity by making payments in an amount no less than $100 quarterly. This describes which of the following annuities? Flexible installment deferred Q applied for life insurance and submitted the initial premium on January 1. The policy was issued February 1, but it was not delivered by the agent until February 7. Q is dissatisfied and r...
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Examen
Florida Life Insurance State Exam Simulator Questions and Correct Answers
Florida Life Insurance State Exam Simulator Questions and Correct Answers Post-tax dollar contributions are found in Roth IRA investments N purchases an annuity by making payments in an amount no less than $100 quarterly. This describes which of the following annuities? Flexible installment deferred Q applied for life insurance and submitted the initial premium on January 1. The policy was issued February 1, but it was not delivered by the agent until February 7. Q is dissatisfied and returns...
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