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FLORIDA LIFE AND HEALTH INSURANCE EXAM 2024/2025
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FLORIDA LIFE AND HEALTH INSURANCE EXAM 2024/2025
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FLORIDA LIFE AND HEALTH INSURANCE EXAM2024/2025
Within how many days must a licensee notify the Department of Financial Services of a change in
address? - Precise Answer ✔✔30
All of the following entries are classified under the four principal areas of Florida insurance law EXCEPT...
- Precise Answer ✔✔An agent's commission
Which of the following factors is NOT considered when the Department of Financial Services determines
if an agent's home is an insurance agency? - Precise Answer ✔✔The amount of premium collected at
this location
Florida requires that an insurance agent must complete __ hours of continuing education on the subject
of law and ethics every two years - Precise Answer ✔✔5
Agents that have been licensed for less than six years must complete __ hours of continuing education
every two years - Precise Answer ✔✔24
A licensed agent must be appointed by an insurance company to solicit insurance in Florida. The agent's
license will terminate if a certain period of time elapses without being appointed. How long is this period
of time? - Precise Answer ✔✔48
What is the maximum percentage of controlled business an agent may produce? - Precise Answer
✔✔50%
A group plan was recently terminated. In Florida how many days are covered individuals guaranteed
coverage after a group plan's termination? - Precise Answer ✔✔31 days
The Financial Services Commision may hold hearings... - Precise Answer ✔✔For any reason deemed
necessary
,In Florida, an insurer domiciled and incorporated in this state is called... - Precise Answer ✔✔Domestic
company
According to Florida law, which of the following statements accurately describes an admitted mail order
insurance company? - Precise Answer ✔✔It may solicit insurance business by mail only without the
assistance of a licensed Florida agent
According to Florida law, an additional lapse notice must be issued after the standard grace period has
expired for policyowners age... - Precise Answer ✔✔64 years or older
Which action could result in a hearing being ordered by the Department of Financial Services? - Precise
Answer ✔✔Performing insurance transactions without a license
Which of the following professional organizations has its code of ethics incorporated into Florida law? -
Precise Answer ✔✔National Association of Insurance and Financial Advisors (NAIFA)
Which entity approves the insurance policy forms used in Florida? - Precise Answer ✔✔Office of
Insurance Regulation (OIR)
In Florida, agents are allowed to engage in rebating if... - Precise Answer ✔✔Offered to all insured in the
same actuarial class
In Florida, when agents recommend changes be made for existing coverage, the agent must follow
established procedures. The name of this rule is called the... - Precise Answer ✔✔Florida Replacement
Rule
In Florida, an element of an insurance transaction would be... - Precise Answer ✔✔Issuing an insurance
contract
The Bureau of Unclaimed Property is overseen by... - Precise Answer ✔✔The chief financial officer
One of the stated purposes of the Life and Health Insurance Guaranty Association is... - Precise Answer
✔✔To assist in the prevention of insurer insolvencies
,The Life and health Insurance Guaranty Association is funded by... - Precise Answer ✔✔Assessments on
member companies
The purpose of the Guaranty Fund is to... - Precise Answer ✔✔Ensure that claims filed against
involvement insurance companies will be paid
The rules and regulations of the Life and health Insurance Guaranty Association apply to... - Precise
Answer ✔✔Life and health policies issues by companies authorized in that particular state
The fund that assures policyholder payment of benefits on Life and Health Policies, if the company is
involved at the time of the claim, is called the... - Precise Answer ✔✔The Life and Health Insurance
Guaranty Association
A stock life insurance company that issues both participating and nonparticipating policies is doing
business on... - Precise Answer ✔✔Mixed plan
A stock insurance company is owned by - Precise Answer ✔✔Its stockholders
Who is a mutual insurance company owned by? - Precise Answer ✔✔Its policyholders
Which type of insurance company allows their policyowners to elect a governing body? - Precise Answer
✔✔Mutual
What percentage of eligible persons must a policy cover in a noncontributory group? - Precise Answer
✔✔100%
Which of the following employer tasks does a Professional Employer Organization normally handle? -
Precise Answer ✔✔Administration tasks
The Coordination of Benefits (COB) provision exists in order to... - Precise Answer ✔✔Avoid duplication
of benefit payments
, M completes an application for health insurance but does not pay the initial premium. All of these
actions must occur before M's policy goes into effect EXCEPT? - Precise Answer ✔✔Free look period has
expired
Q applied for life insurance and submitted the initial premium on January 1. The policy was issued
February 1, but it was not delivered by the agent until February 7. Q is dissatisfied and returns the policy
February 13. How will the insurer handle this situation? - Precise Answer ✔✔Policy was returned within
the free-look period, premium will be fully refunded
According to Florida law, which of the following info does NOT need to be obtained by an agent
recommending an annuity purchase? - Precise Answer ✔✔Marital status
K is an agent who made improper sales of an annuity to a client. Which of the following corrective
actions would the Department of Financial Services likely order K to take? - Precise Answer ✔✔Pay a
monetary restitution to the client
Under Florida law, a variable annuity policyowner must be notified of the accumulated value of the
contract... - Precise Answer ✔✔Once each year
Which two entities regulate variable annuities? - Precise Answer ✔✔Department of Financial Services
and Securities Exchange Commission
If an agent would like to sell Variable annuities, which state examination must the agent pass? - Precise
Answer ✔✔Life and Variable contracts
According to Florida's rules on disclosure, a life insurance applicant is expected to be provided with... -
Precise Answer ✔✔Buyer's Guide and Policy Summary
In Florida, most life insurance policies have a contestability period of... - Precise Answer ✔✔2 years
Nonprofit life insurance providers that are covered by a special section in the Florida insurance code are
called - Precise Answer ✔✔Fraternal life insurance organizations
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