Florida Insurance Exam/ 150 Quizzes with Verified Ans/ .
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Florida Insurance \\
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Florida Insurance \\
Florida Insurance Exam/ 150 Quizzes with Verified Ans/ . Terms like:
According to the Time Payment of Claims provision, the insurer must pay Disability Income benefits no less frequently than which of the following options? - Answer: Monthly
What would the Medical Information Bureau (MIB) id...
Florida Insurance Exam/ 150 Quizzes with
Verified Ans/ 2024-2025.
According to the Time Payment of Claims provision, the insurer must pay Disability Income
benefits no less frequently than which of the following options? - Answer: Monthly
What would the Medical Information Bureau (MIB) identify? - Answer: Testing positive for
marijuana use from a previous screening
How would a contingent beneficiary receive the policy proceeds in an Accidental Death and
Dismemberment (AD&D) policy? - Answer: If the primary beneficiary dies before the insured
Under a Renewable Term policy, - Answer: the renewal premium is calculated on the basis of
the insured's attained age
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,Which of the following statements is true about most Blue Cross/Blue Shield organizations? -
Answer: They are nonprofit organizations
If a policyowner does not pay the premium by the due date, the - Answer: policyowner can
make the premium payment during the grace period
According to Florida law, which of the following information does NOT need to be obtained by
an agent recommending an annuity purchase? - Answer: Marital status
Which of these characteristics is consistent with a Straight Life policy? - Answer: Premiums are
payable for as long as there is insurance coverage in force
P completes an application for a $10,000 life policy, but does not give the producer the initial
premium. P's coverage becomes effective when: - Answer: P receives the policy and pays the
premium
On August 6, D submitted an application for a $50,000 Life Insurance policy and did not pay the
initial premium. On August 18, D went to his doctor complaining of chest pains and some tests
were given by the doctor. The life policy was delivered by the producer on August 20 and D
explains what had recently taken place with the doctor. What action should the producer then
take? - Answer: Collect initial premium along with a signed health statement
A life insurance policyowner may sell their policy to a(n) _____ in order to receive a percentage
of the policy's face value. - Answer: viatical settlement provider
According to Florida law, when must an agent deliver the Outline of Coverage to a Medicare
Supplement applicant? - Answer: At the time of application
Page 2 of 18
, Which of the following statements about accumulated interest earned on dividends from an
insurance policy is TRUE? - Answer: It is taxed as ordinary income
The automatic premium loan provision is designed to: - Answer: avoid a policy lapse
A term life insurance policy matures: - Answer: upon the insured's death during the term of the
policy
What kind of insurance policy supplies an income stream over a set period of time that starts
when the insured dies? - Answer: Family Maintenance Policy
The guarantee of insurability option provides a long-term care policyowner the ability to: -
Answer: buy additional coverage at a later date
When determining the monthly benefit amount for a Disability Income policy, the factor that
limits the amount a prospective insured may purchase is: - Answer: income
Periodic health claim payments MUST be made at least: - Answer: monthly
Which type of plan allows an employer to give money to an employee for buying a life insurance
policy and also permits the employee to select the beneficiary? - Answer: Split-dollar plan
T is an agent and when hired, is reminded that he has a responsibility to handle clients' funds in
an honest and ethical manner. This responsibility is referred to as - Answer: fiduciary
responsibility
J is an agent who recently told a claimant that his rights might be impaired if he does not
complete a release form within a specified time. What could this agent be found guilty of? -
Answer: Coercion
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