Which statement is CORRECT about the Department of Financial Services'
right to examine an agent's records? - ANS ✓An examination can be conducted
at any time to discover any unfair trade practices.
Bill gives Jim a couple of tickets to a Florida Gators game to thank him for
purchasing a policy. This is an example of: - ANS ✓rebating
____________ term insurance provides a level amount of protection for a
specified period, after which the policy expires. - ANS ✓Level
Business overhead expense (B.O.E.) insurance does not provide benefits to
cover the business owner's salary. - ANS ✓TRUE
Level, decreasing, and increasing insurance are all basic forms of ____________
insurance. - ANS ✓term
Hospice services are covered under Medicare Part A. - ANS ✓TRUE
1
FLORIDA 2
,FLORIDA
Under Florida law, group health insurers must offer mental and nervous
disorder insurance to policyowners. - ANS ✓TRUE
Deductibles under a group major medical plan usually run from $250 to
$500; whereas individual health plans usually run from: - ANS ✓$1,000 plus.
Every HMO subscriber must receive a benefits package that includes a copy
of the HMO contract and certificate, and: - ANS ✓a member's handbook.
A life insurance policy will not be reinstated if it has been: - ANS
✓surrendered for its cash value.
Which of the following is NOT a type of permanent life insurance? - ANS
✓Term Life
In Florida, a ______________ must sign for and on behalf of a minor purchasing
life insurance. - ANS ✓parent or legal guardian
When an agent spreads a false story that damages a competing agent's
reputation, the offense is called: - ANS ✓defamation
__________ is when policy values of an insurance policy are used to purchase
another policy with the same insurer for the sole purpose of earning
additional premiums or commissions. - ANS ✓Churning
2
FLORIDA 2
, FLORIDA
Once an organization has filed an application to conduct insurance
business, the Office of Insurance Regulation will begin its review for issuing
a(n): - ANS ✓Certificate of Authority
Florida law requires health insurance policies and HMO contracts to
provide coverage for all medically necessary equipment, supplies and
services used to treat diabetes when the patient's physician certifies that
they are medically necessary. - ANS ✓TRUE
If an insurance company reimburses the insured for medical expenses, can
the insured deduct that amount from their federal income tax? - ANS ✓NO
Which of the following is NOT a benefit to key person insurance? - ANS
✓Wage control
The "currently insured" classification under Social Security limits
survivorship benefits. In order to be eligible for Social Security survivor
benefits, a person must have earned _________________ period ending with the
quarter in which the worker died. - ANS ✓six credits during the 13-quarter
A prospectus for an individual variable insurance contract: - ANS ✓must
accompany every sales presentation.
Most group disability policies use the ___________ method to calculate the
amount of the insured's earnings prior to the accident. - ANS ✓percentage
3
FLORIDA 2
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