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Florida Life, Health and Variable Annuity Exam/Answered/A+Rated/2023/2024 Florida Life, Health and Variable Annuity Exam/Answered/A+ Rated/2023/2024 Categories of Life Insurance Ordinary, Industrial and Group Ordinary Life is individual life insurance that includes many types of TERM and PERMANENT insurance and is usually paid with monthly premiums. Is the principal type of life insurance purchased in the United States. Industrial Insurance small issue amounts with premiums collecte...

Florida Health Insurance Exam Questions and Answers 2023 Accident An unplanned, unforeseen event which occurs suddenly and at an unspecified place Accident Insurance A type of insurance that protects the insured against loss due to accidental bodily injury Accidental Bodily Injury Unplanned, unforeseen traumatic injury to the body Accidental Death and Dismemberment An insurance policy which pays a specified amount or a specified multiple of the insured's benefit if the insured die...

Florida Life & Health Practice Test (Questions and Answers, 100% Correct) Updated 2023/2024 Florida Life & Health Practice Test (Questions and Answers, 100% Correct) Updated 2023/2024 T and S are named co-primary beneficiaries on a $500,000 Accidental Death and Dismemberment policy insuring their father. Their mother was named contingent beneficiary. Five years later, S dies of natural causes and the father is killed in a scuba accident shortly afterwards. How much of the death benefi...

Florida 240 License Exam/Answered/A+ Rated The stated amount or percent of liquid assets that an insurer must have on hand that will satisfy future obligations to its policyholders is called: Reserves An insurance applicant MUST be informed of an investigation regarding his/her reputation and character according to the: Fair Credit Reporting Act A nonprofit incorporated society that does not have capital stock and operates for the sole benefit of its members is known as: A fraternal ...

FL 2-40: Health & Accident Sales/Answered/A+ Rated FL 2-40: Health & Accident Sales/Answered/A+ Rated In what year was the OFR created? 2003 What is considered to be a characteristic of a Conditionally Renewable Health Insurance policy? Premiums may increase at time of renewal What is the required minimum % of employee participation for a noncontributory group health insurance plan according to FL Law? 0%; under FL Law no specific minimum for participation is set Eligibility for co...

Florida Health 240 Insurance Exam (Graded A+) Rules of Construction Help to identify and establish the intent of the parties to the contract Utmost good faith Each party is entitled to rely on the representation of the other, and each party should have a reasonable expectation that the other is acting in good faith without attempts to conceal or deceive. Aleatory Contract A contract under which one party's performance is contingent on an uncertain event. property and casualty agent...

Florida 2-40 Health and Accident Insurance State Exam Prep/Answered/A+ Rated Florida 2-40 Health and Accident Insurance State Exam Prep/Answered/A+ Rated Multiple Employer Welfare Arrangement (MEWA) provides what type of benefits? Insurance XYZ Company pays the entire premium for its group health plan. The MINIMUM percentage of eligible employees that must be covered is 100% In Major Medical Expense policies, what is the intent of Stop Loss provision? Limits an insured's out-of-poc...

Florida 240 Practice exam questions and answers A medical expense policy that establishes the amount of benefit paid based upon the prevailing charges which fall within the standard range of fees normally charged for a specific procedure by a doctor of similar training and experience in that geographic area is known as Usual, customary and reasonable What provision would prevent an insurance company from paying a reimbursement claim to someone other than the policyowner? Payment of C...

Florida 2-40 health license Exam questions/Answered Florida 2-40 health license Exam questions/Answered owners rights if an individual health insurance policy provides a death benefit, the policyowner will be able to designate a beneficiary and, unless the beneficiary designation is irrevocable, to change the beneficiary. the power to change the beneficiary is provided in the change of beneficiary provision. the policyowner also has the right to make any other change without the con...

XCel 2-15 florida life & health state exam simulator/Answered/A+ Rated what is considered to be a characteristic of an immediate annuity benefit payments start within one payment period of purchase 3 MULTIPLE CHOICE OPTIONS which of these characteristics is consistent with a straight life policy premiums are payable for as long as there is insurance coverage in force 3 MULTIPLE CHOICE OPTIONS an insureds inability to perform two or more activities of daily living may trigger which type ...

Health Insurance Florida 2-40 Practice Exam Questions 1 (100% Verified Answers) Latest 2023/2024 Health Insurance Florida 2-40 Practice Exam Questions 1 (100% Verified Answers) Latest 2023/2024 Which of the following laws requires an insurer to notify an applicant in writing that an investigative consumer report may be made on the applicant? -Uniform Provisions Law. -Freedom of Information Act. -Medical Information Bureau Disclosure Act -Fair Credit Reporting Act (Insurance Informati...

Health Insurance Florida 2-40 Practice Exam Questions #3 - Medical Expenses/Answered/A+ Rated 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 c...

Health Insurance Florida 2-40 Practice Exam Questions #2/Answered/A+ Rated/Complete Guide 2023/2024 Health Insurance Florida 2-40 Practice Exam Questions #2/Answered/A+ Rated/Complete Guide 2023/2024 Which of the following is NOT a form of medical insurance? -Business overhead expense -Surgical expense -Hospital expense -Long term care Business overhead expense (Explanation:Business Overhead Expense insurance is designed to reimburse a business for overhead expenses in the event a b...

Florida Health and Life Insurance Exam/Answered/A+ Rated According to Mandatory Uniform Policy Provisions, what is the maximum amount of time after the premium due date during which the policy remains in force even though the premium has not been paid? 31 days G purchased a Family Income policy at age 40. The policy has a 20-year rider period. If G were to die at age 50, how long would G's family receive an income? 10 years E and F are business partners. Each takes out a $500,000 lif...

Fl Life, Health and Annuities Licensing 2-15 (Questions and Answers, 100% Verified) Fl Life, Health and Annuities Licensing 2-15 (Questions and Answers, 100% Verified) 3 ways insurance contracts are different than other legally binding documents Number one. They are aleatory. Meaning the insured pays a premium but may not receive anything back. Number 2. They are contracts of adhesion meaning the contract was prepared by one party. number 3. They are unilateral meaning only the insuran...

Florida Insurance Exam/Answered/A+ Rated The clause identifying which losses resulting from an accident or sickness are insured by the policy is called the: Insuring clause K applies for a life insurance policy on herself and submits the initial premium with the application. She is given a receipt by the agent stating that coverage begins immediately if the application is approved. What kind of receipt was used? Conditional A life insurance arrangement which circumvents insurable inte...

Pearson Vue Life Insurance Practice Exam (Questions and Answers, 100% Verified) P wants to name her husband as the beneficiary of her life policy. However, she wishes to retain all of the rights of ownership. P should have her husband named as the: A.irrevocable beneficiary B.revocable beneficiary C.secondary beneficiary B A contract that has as its basic function the systematic liquidation of accumulated assets through periodic payments is called an: A.indemnity contract B.investm...

Florida Life and Health Insurance/Answered/A+ Rated Florida Life and Health Insurance/Answered/A+ Rated Insured The person covered by the insurance policy. Rider A written modification attached to a policy that increases or decreases coverage and/or premiums. What is a unilateral contract? A contract in which only one of the parties is legally bound to fulfill its obligations. What law protects consumers from the circulation of inaccurate or obsolete information? The Fair Credit...

NY Life, Accident, and Health Insurance Agent/Broker Exam Series 17-55| 200 QUESTIONS| ANSWERS GRADED A Process 2103 (d-i) 1. The Superintendent may issue a license to any person, firm or corporation who has complied with the requirements of the Insurance Code, authorizing the licensee to act as agent of any authorized insurer. Every individual applicant for a license under this section and every proposed sub-licensee must be 18 years of age or older at the time of issuance of such lic...

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