Florida 2-15 Insurance License Exam
Accumulation units are converted into
at the time of annuity payout.
annuity units:
A group life insurance plan in which the
employer pays the entire premium is noncontributory
known as a plan.
If a disabled worker covered under So-
cial Security disability benefits recovers
and then is disabled again within five FALSE
years, a new waiting period is required
before benefits begin again.
Robert had an accident and qualified
for Social Security disability. Given the
After 5 months
waiting period, when will Robert begin to
receive benefits?
The Insuring Clause includes all of the
beneficiary
following EXCEPT the
Mutualization occurs when a stock com-
mutual
pany turns to a company.
To provide a safeguard for insureds,
most major medical policies contain a
stop-loss
feature that limits the in-
sured's out-of-pocket expenses.
Tom is a newly appointed life, health and
variable annuity agent with Acme Insur-
ance Agency. He is writing his first in-
Acme Insurance Agency
surance policy on his brother-in-law's life.
Who does Tom legally represent in this
transaction?
An insurance clause is a distinct arti-
cle in a formal document that estab-
lishes the rules in the contract that both the insurer and the insured
must adhere
to.
"ACC" refers to the type of disability that
FALSE
prevents someone from performing the
, Florida 2-15 Insurance License Exam
job he was performing prior to the dis-
ability.
Which statement is CORRECT about the An examination can be conducted at any
Department of Financial Services' right time to discover any unfair trade prac-
to examine an agent's records? tices.
Bill gives Jim a couple of tickets to a
Florida Gators game to thank him for
rebating
purchasing a policy. This is an example
of:
term insurance provides
a level amount of protection for a spec-
Level
ified period, after which the policy ex-
pires.
Business overhead expense (B.O.E.) in-
surance does not provide benefits to cov- TRUE
er the business owner's salary.
Level, decreasing, and increasing in-
surance are all basic forms of term
insurance.
Hospice services are covered under
TRUE
Medicare Part A.
Under Florida law, group health insurers
must offer mental and nervous disorder TRUE
insurance to policyowners.
Deductibles under a group major med-
ical plan usually run from $250 to $500;
$1,000 plus.
whereas individual health plans usually
run from:
Every HMO subscriber must receive a
benefits package that includes a copy of a member's handbook.
the HMO contract and certificate, and:
A life insurance policy will not be reinstat-
surrendered for its cash value.
ed if it has been:
Which of the following is NOT a type of
Term Life
permanent life insurance?
Accumulation units are converted into
at the time of annuity payout.
annuity units:
A group life insurance plan in which the
employer pays the entire premium is noncontributory
known as a plan.
If a disabled worker covered under So-
cial Security disability benefits recovers
and then is disabled again within five FALSE
years, a new waiting period is required
before benefits begin again.
Robert had an accident and qualified
for Social Security disability. Given the
After 5 months
waiting period, when will Robert begin to
receive benefits?
The Insuring Clause includes all of the
beneficiary
following EXCEPT the
Mutualization occurs when a stock com-
mutual
pany turns to a company.
To provide a safeguard for insureds,
most major medical policies contain a
stop-loss
feature that limits the in-
sured's out-of-pocket expenses.
Tom is a newly appointed life, health and
variable annuity agent with Acme Insur-
ance Agency. He is writing his first in-
Acme Insurance Agency
surance policy on his brother-in-law's life.
Who does Tom legally represent in this
transaction?
An insurance clause is a distinct arti-
cle in a formal document that estab-
lishes the rules in the contract that both the insurer and the insured
must adhere
to.
"ACC" refers to the type of disability that
FALSE
prevents someone from performing the
, Florida 2-15 Insurance License Exam
job he was performing prior to the dis-
ability.
Which statement is CORRECT about the An examination can be conducted at any
Department of Financial Services' right time to discover any unfair trade prac-
to examine an agent's records? tices.
Bill gives Jim a couple of tickets to a
Florida Gators game to thank him for
rebating
purchasing a policy. This is an example
of:
term insurance provides
a level amount of protection for a spec-
Level
ified period, after which the policy ex-
pires.
Business overhead expense (B.O.E.) in-
surance does not provide benefits to cov- TRUE
er the business owner's salary.
Level, decreasing, and increasing in-
surance are all basic forms of term
insurance.
Hospice services are covered under
TRUE
Medicare Part A.
Under Florida law, group health insurers
must offer mental and nervous disorder TRUE
insurance to policyowners.
Deductibles under a group major med-
ical plan usually run from $250 to $500;
$1,000 plus.
whereas individual health plans usually
run from:
Every HMO subscriber must receive a
benefits package that includes a copy of a member's handbook.
the HMO contract and certificate, and:
A life insurance policy will not be reinstat-
surrendered for its cash value.
ed if it has been:
Which of the following is NOT a type of
Term Life
permanent life insurance?
