REAL Florida 2-15 Final Exam with
Verified QUESTIONS AND Answers
Life Insurance can provide which of the following? – ANSWERS
Survivor protection
Which statement best describes agreement as it relates to insurance contracts? –
ANSWERS
One party accepts the exact terms of the other party's offer.
When agents, brokers, or solicitors handle premiums for an insurer, they are acting in
which capacity? – ANSWERS
As a fiduciary
An insurer recently collected information from a senior consumer, and used that
information to make recommendations regarding insurance transactions. For how many
years must this information be maintained after the transaction has been completed? –
ANSWERS
5
What is the only difference between blanket insurance and group health insurance? –
ANSWERS
The insured members are not named.
What is the minimum age requirement to enter into a life insurance contract in this
state? - ANSWERS15
What is the latest point at which an Outline of Coverage may be presented? –
ANSWERS
At the time of policy delivery
What is the maximum amount of individual life insurance coverage that a person can
convert to if the existing group policy has been terminated? - ANSWERS$10,000
All of the following are true regarding a producer's fiduciary responsibilities EXCEPT –
ANSWERS
Producers may commingle personal funds with company funds.
A stock insurer is defined as an insurer – ANSWERS
Owned by its stockholders
In individual health policies, proof of loss must be provided by the insured to the insurer
within how many days of a loss? - ANSWERS90
, Insurers CANNOT transact insurance in this state without a – ANSWERS
Certificate of Authority
A licensee may have their license suspended, terminated or revoked for all of the
following EXCEPT – ANSWERS
Unknowingly overinsuring any property insurance risk
Which of the following groups is NOT eligible for group life insurance? –
ANSWERS
Social Groups
What Florida insurance regulation established an outline of appropriate and
inappropriate business behavior for life insurance agents? – ANSWERS
The Code of Ethics of the Florida Association of Insurance and Financial
Advisors
Which of the following terms refers to solicitation, negotiation, effectuation or
advising related to an insurance contract? – ANSWERS
Insurance transaction
An agent has completed 28 hours of continuing education to renew her license. Upon
renewal, she realizes she has 4 extra hours of credit. What will happen to those extra
hours? – ANSWERS
They will be carried over to the next 2-year period
All advertisements, regardless of their source of creation, are the responsibility of the –
ANSWERS
Insurer
Which of the following best defines the unfair trade practice of rebating? – ANSWERS
Offering an inducement of something of value not specified in the policy
Which of the following is NOT considered eligible for group life insurance? -
ANSWERSA credit union that needs coverage only for its top 10 employees
A producer advises a policyholder that he should replace his life insurance policy with
another, similar policy. The agent is advising this, however, for the sole purpose of
earning a commission. What violation has the agent committed? – ANSWERS
Churning
An insurance company that is owned by the policyholders is called a – ANSWERS
Mutual insurer
HMO contracts may only be sold by a licensed and appointed health insurance agent or
a full-time salaried employee or officer of an HMO who devotes most of his or her
services to – ANSWERS
Verified QUESTIONS AND Answers
Life Insurance can provide which of the following? – ANSWERS
Survivor protection
Which statement best describes agreement as it relates to insurance contracts? –
ANSWERS
One party accepts the exact terms of the other party's offer.
When agents, brokers, or solicitors handle premiums for an insurer, they are acting in
which capacity? – ANSWERS
As a fiduciary
An insurer recently collected information from a senior consumer, and used that
information to make recommendations regarding insurance transactions. For how many
years must this information be maintained after the transaction has been completed? –
ANSWERS
5
What is the only difference between blanket insurance and group health insurance? –
ANSWERS
The insured members are not named.
What is the minimum age requirement to enter into a life insurance contract in this
state? - ANSWERS15
What is the latest point at which an Outline of Coverage may be presented? –
ANSWERS
At the time of policy delivery
What is the maximum amount of individual life insurance coverage that a person can
convert to if the existing group policy has been terminated? - ANSWERS$10,000
All of the following are true regarding a producer's fiduciary responsibilities EXCEPT –
ANSWERS
Producers may commingle personal funds with company funds.
A stock insurer is defined as an insurer – ANSWERS
Owned by its stockholders
In individual health policies, proof of loss must be provided by the insured to the insurer
within how many days of a loss? - ANSWERS90
, Insurers CANNOT transact insurance in this state without a – ANSWERS
Certificate of Authority
A licensee may have their license suspended, terminated or revoked for all of the
following EXCEPT – ANSWERS
Unknowingly overinsuring any property insurance risk
Which of the following groups is NOT eligible for group life insurance? –
ANSWERS
Social Groups
What Florida insurance regulation established an outline of appropriate and
inappropriate business behavior for life insurance agents? – ANSWERS
The Code of Ethics of the Florida Association of Insurance and Financial
Advisors
Which of the following terms refers to solicitation, negotiation, effectuation or
advising related to an insurance contract? – ANSWERS
Insurance transaction
An agent has completed 28 hours of continuing education to renew her license. Upon
renewal, she realizes she has 4 extra hours of credit. What will happen to those extra
hours? – ANSWERS
They will be carried over to the next 2-year period
All advertisements, regardless of their source of creation, are the responsibility of the –
ANSWERS
Insurer
Which of the following best defines the unfair trade practice of rebating? – ANSWERS
Offering an inducement of something of value not specified in the policy
Which of the following is NOT considered eligible for group life insurance? -
ANSWERSA credit union that needs coverage only for its top 10 employees
A producer advises a policyholder that he should replace his life insurance policy with
another, similar policy. The agent is advising this, however, for the sole purpose of
earning a commission. What violation has the agent committed? – ANSWERS
Churning
An insurance company that is owned by the policyholders is called a – ANSWERS
Mutual insurer
HMO contracts may only be sold by a licensed and appointed health insurance agent or
a full-time salaried employee or officer of an HMO who devotes most of his or her
services to – ANSWERS
