214 Florida Insurance Exam/ 164 Quizzes & Correct Ans/ . Terms like:
Which statement regarding annuities is CORRECT? - Answer: Variable annuity units are fixed but the annuity payment will vary according to the value of the annuity unit.
In order to be considered currently insured and thus e...
214 Florida Insurance Exam/ 164 Quizzes &
Correct Ans/ 2024-2025.
Which statement regarding annuities is CORRECT? - Answer: Variable annuity
units are fixed but the annuity payment will vary according to the value of the
annuity unit.
In order to be considered currently insured and thus eligible for limited survivor
benefits from Social Security, a worker must have earned ___ credits during the
13-quarter period ending with the quarter in which the worker died. - Answer: 6
Social security is also known as: - Answer: Old Age Survivors and Disability
Insurance (OASDI)
Page 1 of 27
,Insurance is not intended to protect against? - Answer: Speculative Risk
Under a family plan life insurance policy, coverage on the breadwinner is often
provided by which of the following insurance types? - Answer: Whole Life
Which of the following statements regarding annuity settlement or payout options
is NOT true? - Answer: If the annuitant dies before the principal sum is depleted,
the Refund Life Annuity Option will pay the entire annuity amount to the
beneficiary in a lump sum payment or over scheduled installments.
The following statements regarding 401(k) retirement plans are correct EXCEPT: -
Answer: Plans rarely have a matching contribution component by an employer
All of the statements below pertaining to group life insurance are correct EXCEPT:
- Answer: If the insurance coverage is less than $75,000, employees do not have
to report the employer-paid premiums as income
According to Florida Statues, entering into any agreement to commit any act of
intimidation resulting in the business of insurance is known as: - Answer: Coercion
William, age 67, has owned his life insurance policy for the past 15 years and has
mailed his monthly premiums to his life insurance company. Last month he failed
to mail the monthly payment on his premium due date as well as during his
policy's grace period. As a result, which of the following scenarios will MOST likely
occur? - Answer: The insurer will provide notification of impending lapse in
Page 2 of 27
, coverage, and allow at least 21 additional days beyond the grace period to make a
payment to prevent the policy from lapse
Before executing an exchange of an annuity contract resulting from a
recommendation to a senior consumer, an insurance agent should make
reasonable efforts to obtain information from the applicant concerning the
suitability of the recommendation on an approved form, which upon completion,
must be signed by the applicant and agent. Within what period of time must an
agent submit this form to the insurer once it is complete? - Answer: Within 10
days
Shelly is considered to be terminally ill and has decided to sell her life insurance
policy in exchange for living benefits to fulfill some final comforts and expenses
before her death. In selling her life insurance policy, Shelly is referred to as
a(n)_________and she will receive a percentage of her life policy's face amount in
exchange for ownership of her policy. - Answer: Viator
Which of the following is NOT a type of speculative risk? - Answer:
Unemployment
Which agency collects and provides reliable medical information regarding an
applicant's health history? - Answer: The MIB
Tonya failed to pay her life policy's premium on the date in which it is normally
due and is currently 23 days late. As a result of her policy's grace period provision,
Page 3 of 27
The benefits of buying summaries with Stuvia:
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
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
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 Benzo. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.39. You're not tied to anything after your purchase.
