Florida Insurance License Exam With Question And Answers
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Course
Flo435
Institution
Flo435
Which action will the insurance company most likely NOT take if the applicant has
Diabetes and applies for a Disabiility Income policy? - CORRECT ANSWER-Issue the
policy with an altered Time of Payment of Claims
Which is NOT a legal entity for selling life insurance in Florida? - CORRECT ANSW...
Florida Insurance License Exam With
Question And Answers
Which action will the insurance company most likely NOT take if the applicant has
Diabetes and applies for a Disabiility Income policy? - CORRECT ANSWER-Issue the
policy with an altered Time of Payment of Claims
Which is NOT a legal entity for selling life insurance in Florida? - CORRECT ANSWER-
Risk Management Advisors do not qualify
Percentage of an individual's Primary Insurance Amount (PIA) determines the benefits
are paid in which program? - CORRECT ANSWER-Social Security Disability Income
The Insured and Insurance Company share the cost of covered losses under which
health policy feature? - CORRECT ANSWER-Payment of Claims
T applied for a Disability Income policy and has a history of back injuries. The insurer
issued the policy with a statement that excludes coverage for back injuries. This
statement is called a(n) - CORRECT ANSWER-Impairment Rider
During the application process, the agent's primary responsibility is - CORRECT
ANSWER-The Insurance Company
An accident policy will most likely pay a benefit for a(n) - CORRECT ANSWER-Off the
job accident
Which renewability best describes a Disability Income policy that covers an individual
until age 65, but the insurer has the right to change the premium rate for the overall risk
class? - CORRECT ANSWER-Guaranteed renewable specifies policy must be renewed
(if premiums paid) until 65, with increasing premiums
A CEOs personal assistant suffered injuries at home and is unable to work for 4
months, which policy will pay monthly benefits? - CORRECT ANSWER-Disability
Income
Which statement about HRA is correct? - CORRECT ANSWER-If the employee paid for
Qualified Medical Expenses, reimbursements may be tax free
Which coverage is short term? - CORRECT ANSWER-Interim
, What rider is added to an Accident & Health policy if policyowner wants to ensure policy
will continue if he becomes totally disabled? - CORRECT ANSWER-Waiver of Premium
Rider
Group/voluntary long-term care policy premiums are typically deducted from the
employee's income and - CORRECT ANSWER-Less costly compared to individual long
term care coverage
T owns an Accident & Health policy and notifies her insurance company that she has
chosen a less hazardous occupation. Under the Change of Occupation provision, which
of the following actions may her insurance company take? - CORRECT ANSWER-
Increase the policy coverage amount
Which mode of payment is NOT used by health insurance policies? - CORRECT
ANSWER-Single premium
T has Disability Income policy that pays a monthly benefit of $5000. If T becomes
partially disabled, what can he likely expect? - CORRECT ANSWER-Less than $5000 a
month
S is employed by a large corporation that provides group health coverage for its
employees and their dependents. If S dies, the company must allow his surviving
spouse and dependents to continue their group health coverage for a minimum of how
many months under COBRA regulations? - CORRECT ANSWER-36 months
T was treated for an ailment 2 months prior to applying for a health insurance policy.
This condition was noted on the application and the policy was issued shortly
afterwards. How will the insurer likely consider this condition? - CORRECT ANSWER-
Insurer will likely treat as a pre-existing condition which may not be covered for 1 year
Which his NOT a limited benefit plan? - CORRECT ANSWER-Life Insurance Policy
With a medical discount plan, how often would a person generally pay a fee to get
discounts on specific services? - CORRECT ANSWER-Monthly
Under which circumstances will the benefits under COBRA continuation coverage end?
- CORRECT ANSWER-One disqualifying event is when employer terminates all group
health plans
Z owns a Disability Income policy with a 30-day Elimination period. Z contracts
pneumonia that leaves him unable to work from January 1 until January 15. Z then
becomes disabled from an accident on February 1 and the disability lasts until July 1 the
same year. Z will become eligible to receive benefits starting on - CORRECT ANSWER-
March 1
Elimination period is the time between onset of disability and the time eligible for
benefits
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