FL State License Exam Flash-cards, All Correct Answers 2024.
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FL State License
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FL State License
FL State License Exam Flash-cards, All Correct Answers 2024.
A waiver of premium rider allows an insured to waive premium payments if the insured is
a) Experiencing financial hardship
b) Completely & permanently disabled
c) Unemployed
d) Temporarily disabled
B) Completely & Permanently di...
FL State License Exam Flash-cards,
All Correct Answers 2024.
A waiver of premium rider allows an insured to waive premium payments if the
insured is
a) Experiencing financial hardship
b) Completely & permanently disabled
c) Unemployed
d) Temporarily disabled
B) Completely & Permanently disabled
The insured's consideration given for a health insurance policy is
a) the application
b) the initial premium payment only
c) the first premium payment and the application
d) the initial premium and an investigative report
C)
An example of sliding would be
a) speaking maliciously of an insurer intending to harm
b) charging an additional product without the applicant's consent
c) replacing an existing insurance policy with a new one
d) inducing an applicant to purchase an insurance policy by returning some of
the premium
B)
A group plan was recently terminated. In Florida, how many days are covered
individuals guaranteed coverage after a group plan's termination?
a) 31 days
b) 45 days
c) 14 days
d) 60 days
a)
Life insurance policies will normally pay for losses arising from
a) war
b) commercial aviation
c) suicide
d) hazardous jobs
b)
,Which of these is NOT considered to be a risk factor in life insurance
underwriting?
a) hobbies
b) number of children
c) Health history
d) Occupation
b)
Intentional withholding of material facts that would affect an insurance policy's
validity is called a(n)
a) Concealment
b) Adhesion
c) Misrepresentation
d) Estoppel
a)
All of these are characteristics of a Universal life insurance policy EXCEPT
a) Flexible premiums
b) Fixed surrender value
c) Flexible death benefit
d) Builds cash value
b)
Phil is shopping for an annuity that guarantees he CANNOT outlive the benefits.
Which of these benefit options would he choose?
a) Right of income rider
b) Guaranteed minimum accumulation benefit
c) Accelerated lifetime benefit
d) Guaranteed lifetime withdrawal benefit
d)
What is the automatic continuance of insurance coverage referred to as?
a) renewal
b) renovation
c) resumption
d) reinstatement
a)
Which of the following unfair trade practices involves an agent who makes
malicious statements about another person's financial condition?
a) Misrepresentation
b) Boycotting'
c) Defamation
d) Unfair discrimination
c)
,Every resident agent must have and maintain at their place of business the usual
and customary records pertaining to transactions under their license for at least
how long?
a) 1 year
b) 7 years
c) 3 years
d) 5 years
d)
Pre-death distributions from a modified endowment contract (MEC) receive
different tax treatment than other life insurance policies because
a) the MEC tends to be an investment vehicle
b) the MEC has tax deductible premiums
c) the MEC does not accumulate cash value
d) the MEC is considered an illegal product
a)
In Florida, what is the maximum percentage of controlled business an agent may
produce?
a) 60%
b) 50%
c) 30%
d) 40%
b)
If the annuitant dies before the annuity start date,
a) nothing is given to the beneficiary
b) the premiums paid will be given to the beneficiary
c) the benefits will be given tax-free only to a stated beneficiary
d) the premium paid plus interest earned will be given to the beneficiary
d)
The waiting period for a pre-existing condition under a Medicare Supplement
policy may NOT go beyond
a) 1 month
b) 3 months
c) 12 months
d) 6 months
d)
What is Florida's definition of Life insurance replacement?
a) A transaction in which a policyowner reinstates a lapsed policy
b) A transaction in which group life coverage is converted to an individual policy
, c) A transaction in which a new policy is bought, and an old policy is terminated
d) A transaction in which coverage on an existing policy is increased
c)
Dorian exercised a nonforfeiture option by using his life policy's cash value to
purchase an extended term insurance option. When the term insurance expires,
a) all remaining cash values are paid to the policyowner
b) he has the option of resuming the original policy and paying the same
premium
c) the protection ends
d) the coverage can be extended with a lump sum payment
c)
Under the Consolidated Omnibus Budget Reconciliation Act (COBRA), a
terminated employee's benefits must
a) be the same as well as the premium
b) be the same and the premium cannot exceed 102%
c) be more extensive and the premium cannot exceed 102%
d) be less extensive and premium cannot exceed 102%
b)
The difference between pre-certification and concurrent review is that pre-
certification
a) costs more to be patient
b) occurs before the treatment is provided
c) costs less to the patient
d) is considered a cost containment measure
b)
All of these are standard exclusions found in a life insurance policy EXCEPT
a) disability
b) war
c) hazardous occupations
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