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FL Life and Health Insurance 2-15 Study Exam (165 questions) correctly answered
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FL Life and Health Insurance 2-15 Study Exam (165 questions) correctly answered
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FL Life and Health Insurance 2-15 StudyExam (165 questions) correctly answered
N is covered by a Term Life policy and does not make the required premium
payment which was due August 1. N dies September 15. What action will the
insurer take? - Claim will be denied.
A contract where one party either accepts or rejects the terms of a contract
written by another party is called a contract of - adhesion
All of the following statements about Major Medical benefits are true, EXCEPT: -
Benefits have no maximum limit
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 age at issue had been 59.
What would the normal procedure be under the misstatement of age provision in
regard to the payment of the death claim? - The proceeds would be reduced
based on whatever the premium would have been if purchased at age 59.
All of these are considered sources of underwriting information about an
applicant, EXCEPT: - Inspection Report
,FL Life and Health Insurance 2-15 Study
Exam (165 questions) correctly answered
According to the 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
Which provision allows the policy owner to change a term life policy to a
permanent one without providing proof of good health? - Conversion
What do families pay that are covered by the Florida Healthy Kids Corporation? - A
portion of the premium
Which statement regarding third-party ownership of a life insurance policy is true?
- It is used extensively in estate planning as well as business circumstances.
Which of the following employees may NOT be excluded from a group life plan? -
Full-time employees after the probationary period.
Which of the following statements BEST describes what the Legal Actions
provision of an Accident and Health policy requires? - An insured must wait at
least 60 days after Proof of Loss has been submitted before a lawsuit can be filed.
, FL Life and Health Insurance 2-15 Study
Exam (165 questions) correctly answered
What percentage of eligible persons must a policy cover in a noncontributory
group? - 100%
What are adjustable rates for life policy loans in Florida based on? - Moody's
corporate bond index.
An underwriter determines that a life insurance applicant's risk should be
reclassified due to a health issue. This policy may be issued with a(n): - exclusion
for the medical condition
What is the initial requirement for an insured to become eligible for benefits
under the Waiver of Premium provision? - Insured must be under a physician's
care
J has a Disability Income policy that does NOT provide benefits for losses occurring
as the result of his employment. What kind of coverage is this? - Nonoccupational
coverage
K is insured under a Group Life Insurance policy. K is considered to be a(n) -
certificate holder
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