100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
214sFloridasInsurancesExamsQuestionssAndsAns werss100%sCorrect $8.99   Add to cart
Quickly navigate to
Preview
  2.  
  3. 214 Florida Insurances
  4.  
  5. 214 Florida Insurances

Exam (elaborations)

214sFloridasInsurancesExamsQuestionssAndsAns werss100%sCorrect
 11 views  0 purchase
  • Course
  • 214 Florida Insurances
  • Institution
  • 214 Florida Insurances

Whichstypesofsinsurancesprotectssansagentsandsevenspayssclaimssifsaslawsuitsissbroug htsagainststhesagentsassasresultsofsfailingstosprovidesasservicestosasclient?s– sANSWER:sErrorssandsOmissionssInsurance Whichsofsthesfollowingstermssissknownsassthesvoluntarysrelinquishmentsofsasgivensrig hts...

[Show more]

Preview 3 out of 16  pages

Document information

  • August 23, 2024
  • 16
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • 214sfloridasinsurancesexamsquestionssandsans werss

Written for

  • 214 Florida Insurances
  • 214 Florida Insurances

Seller

avatar-seller
Futurenurses

Reviews received

Content preview

214 Florida Insurance Exam Questions And Ans
s s s s s s



wers 100% Correct s s




Whichstypesofsinsurancesprotectssansagentsandsevenspayssclaimssifsaslawsuitsissbroug
htsagainststhesagentsassasresultsofsfailingstosprovidesasservicestosasclient?s–
sANSWER:sErrorssandsOmissionssInsurance



Whichsofsthesfollowingstermssissknownsassthesvoluntarysrelinquishmentsofsasgivensrig
htsorsprivilege?s-sANSWER:sWaiver

ThissSupremesCourtscasesplacedsthesregulationsofsinsuranceswithinsthesauthoritysofst
hesfederalsgovernmentsbysdefiningsinsurancesassasformsofsinterstatescommerce?s-
sANSWER:sUnitedsStatessv.sSoutheasternsUnderwriterssAssociations(1944)



TimswassjustshiredstodaysbysMABsINCsandswantsstosjoinsthescompany'ssgroupsinsuran
cespolicy.sWhatsperiodsofstimesisshescurrentlysinsandswhenscanshesjoinsthesplan?s-
sANSWER:sProbationarysperiod,shescanssignsupsafters90sdays



IfsJustinssubmittedsansinitialspremiumswithshisslifesinsurancesapplication,swassprovid
edsasconditionalsreceiptsbysthesinsurancescompanysandswassultimatelysissuedsaspolic
ysassappliedsfor,swhenswouldshissinsurancespolicysbesconsideredsinsforce?s-
sANSWER:ssThesdatesofshissapplicationsorsthesdayshescompletedsanysrequiredsmedicals

exam

Whensdividendssaresissued,sthespolicyownershassthesfollowingsdividendsoptionssinsut
ilizingsasreturnsEXCEPT:s-sANSWER:ssLifesIncomesOption

WhichstwoslifesinsurancesridersscansBillspurchasestosguaranteesthatshisspolicyswillsco
ntinueswithoutsfurtherscommitmentsfromshimsandsthatsincomeswillsbespaidstoshimsifs
hesbecomesstotallysandspermanentlysdisabled?s-
sANSWER:sWaiversofspremiumsandsDisabilitysIncomesRiders



Insascontributorysgroupsplan,swhatspercentagesofseligiblesemployeessmustsbescovered
?s-sANSWER:ss75%

WhichsstatementsregardingsannuitiessissCORRECT?s-
sANSWER:sVariablesannuitysunitssaresfixedsbutsthesannuityspaymentswillsvarysaccordi

ngstosthesvaluesofsthesannuitysunit.

Insorderstosbesconsideredscurrentlysinsuredsandsthusseligiblesforslimitedssurvivorsbe
nefitssfromsSocialsSecurity,sasworkersmustshavesearneds___screditssduringsthes13-
sANSWER:squartersperiodsendingswithsthesquartersinswhichsthesworkersdied.s-s6

,Socialssecuritysissalsosknownsas:s-
sANSWER:sOldsAgesSurvivorssandsDisabilitysInsurances(OASDI)



Insurancesissnotsintendedstosprotectsagainst?s-sANSWER:ssSpeculativesRisk

Undersasfamilysplanslifesinsurancespolicy,scoveragesonsthesbreadwinnersissoftensprovi
dedsbyswhichsofsthesfollowingsinsurancestypes?s-sANSWER:sWholesLife

Whichsofsthesfollowingsstatementssregardingsannuityssettlementsorspayoutsoptionssis
sNOTstrue?s-

sANSWER:ssIfsthesannuitantsdiessbeforesthesprincipalssumsissdepleted,sthesRefundsLifes

AnnuitysOptionswillspaysthesentiresannuitysamountstosthesbeneficiarysinsaslumpssums
paymentsorsoversscheduledsinstallments.

Thesfollowingsstatementssregardings401(k)sretirementsplanssarescorrectsEXCEPT:s-
sANSWER:sPlanssrarelyshavesasmatchingscontributionscomponentsbysansemployer



AllsofsthesstatementssbelowspertainingstosgroupslifesinsurancesarescorrectsEXCEPT:s-
sANSWER:sIfsthesinsurancescoveragesisslesssthans$75,000,semployeessdosnotshavestosr

eportsthesemployer-paidspremiumssassincome

AccordingstosFloridasStatues,senteringsintosanysagreementstoscommitsanysactsofsintim
idationsresultingsinsthesbusinesssofsinsurancesissknownsas:s-sANSWER:ssCoercion

William,sages67,shassownedshisslifesinsurancespolicysforsthespasts15syearssandshassma
iledshissmonthlyspremiumsstoshisslifesinsurancescompany.sLastsmonthshesfailedstosma
ilsthesmonthlyspaymentsonshisspremiumsduesdatesasswellsassduringshisspolicy'ssgraces
period.sAssasresult,swhichsofsthesfollowingsscenariosswillsMOSTslikelysoccur?s-
sANSWER:sThesinsurerswillsprovidesnotificationsofsimpendingslapsesinscoverage,sands

allowsatsleasts21sadditionalsdayssbeyondsthesgracesperiodstosmakesaspaymentstosprev
entsthespolicysfromslapse

Beforesexecutingsansexchangesofsansannuityscontractsresultingsfromsasrecommendati
onstosasseniorsconsumer,sansinsurancesagentsshouldsmakesreasonableseffortsstosobtai
nsinformationsfromsthesapplicantsconcerningsthessuitabilitysofsthesrecommendationso
nsansapprovedsform,swhichsuponscompletion,smustsbessignedsbysthesapplicantsandsag
ent.sWithinswhatsperiodsofstimesmustsansagentssubmitsthissformstosthesinsurersoncesit
sisscomplete?s-sANSWER:ssWithins10sdays



Shellysissconsideredstosbesterminallysillsandshassdecidedstossellsherslifesinsurancespoli
cysinsexchangesforslivingsbenefitsstosfulfillssomesfinalscomfortssandsexpensessbeforesh
ersdeath.sInssellingsherslifesinsurancespolicy,sShellysissreferredstosassa(n)_________andss
heswillsreceivesaspercentagesofsherslifespolicy'ssfacesamountsinsexchangesforsownershi
psofsherspolicy.s-sANSWER:ssViator

WhichsofsthesfollowingsissNOTsastypesofsspeculativesrisk?s-sANSWER:ssUnemployment

, Whichsagencyscollectssandsprovidessreliablesmedicalsinformationsregardingsansapplic
ant'sshealthshistory?s-sANSWER:sThesMIB

Tonyasfailedstospaysherslifespolicy'sspremiumsonsthesdatesinswhichsitsissnormallysdues
andsisscurrentlys23sdaysslate.sAssasresultsofsherspolicy'ssgracesperiodsprovision,swhich
soutcomeswillsoccur?s-

sANSWER:sTonyasisswithinshersgracesperiodsandscanspaysherspremiumsupstos30sors31s

dayssaftersthesdatesinswhichsthespremiumsissnormallysdue;showever,sshesdoessnotsnee
dstospaysbacksanysoutstandingsloansstosthesinsurer.

WhichstypesofsE&Ospolicysprovidesspermanentscoveragesforsthesactionssofsansagentsd
uringswhichstimeshesorssheswasscoveredsunderssuchspolicy,sregardlesssofswhensaslaws
uitsissfiledsagainststhesagent?s-sANSWER:ssOccurrencesPolicy

Insasgroupslifescontract,sevidencesofsinsurabilitysiss-
sANSWER:sRequiredsonlysaftersthesenrollmentsperiodsends.



Perils-
sANSWER:ssForspurposessofsinsurance,swhichsofsthesfollowingsissNOTsconsideredsashaz

ard?

Theslosssmustsbesspeculatives-
sANSWER:sAllsofsthesfollowingsarescharacteristicssofspuresrisksEXCEPT



Twistings-
sANSWER:sWhensansagentspersuadessasclientstoscancelshissorsherscurrentscoveragesfor

saspolicysfromsansentirelysdifferentscompanyssolelystosproducesanothersfirstsyearscom

missionsisscalled?

GracesPeriodsProvisions-
sANSWER:ssInstheseventsaspolicy'sspremiumsisspaidslate,swhichsofsthesfollowingsprovisi

onsswillskeepsthespolicysinsforcesforsasshortsperiodsofstimesthereafterstosallowsthespoli
cyownerstossubmitspayment?

PayorsRiders-
sANSWER:ssInstheseventsthatsasparentsdiessorsbecomessdisabled,swhichsridersallowsssu

rvivingschildscoveragestoscontinuesuntilstheschildsreachessasspecifiedsage?

30-31sdayss-
sANSWER:ssAccordingstosthesNAICsModelsGroupsLifesInsurancesProvisions,swhatsissthes

standardsgracesperiod?

50%s-
sANSWER:ssForsindividualsswhoshavesreachedstheirsnormalsretirementsage,stheirsspou

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller Futurenurses. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $8.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

77254 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$8.99
  • (0)
  Add to cart