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2024 FLORIDA INSURANCE EXAM WITH CORRECT ANSWERS
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2024 FLORIDA INSURANCE EXAM WITH CORRECT ANSWERS
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2024 FLORIDA INSURANCE EXAMWITH CORRECT ANSWERS
The clause identifying which losses resulting from an accident or sickness
are insured by the policy is called the: - CORRECT ANSWERS- Insuring clause
K applies for a life insurance policy on herself and submits the initial
premium with the application. She is given a receipt by the agent stating
that coverage begins immediately if the application is approved. What kind
of receipt was used? - CORRECT ANSWERS- Conditional
A life insurance arrangement which circumvents insurable interest statutes is
called: - CORRECT ANSWERS- Investor-Originated Life Insurance
Which of the following health policy provisions states that the producer does
NOT have the authority to change the policy or waive any of its provisions? -
CORRECT ANSWERS- Entire Contract
What are adjustable rates for life policy loans in Florida based on? - CORRECT
ANSWERS- Moody's corporate bond index
Pre-hospitalization authorization is considered an example of: - CORRECT
ANSWERS- managed care
All of the following are Nonforfeiture Options EXCEPT - CORRECT ANSWERS-
Automatic Premium Loan Option
If an insurance company issues a Disability Income policy that it cannot
cancel or for which it cannot increase premiums, the type of renewability
that best desribes this policy is called: - CORRECT ANSWERS- noncancellable
When applied to Whole Life insurance, the word "straight" denotes: -
CORRECT ANSWERS- The duration of premium payments
Within how many days after policy delivery can a Medicare Supplement
policy be returned for a 100% premium refund? - CORRECT ANSWERS- 30
Which of the following is NOT an unfair claim settlement practice? - CORRECT
ANSWERS- Needing written documentation of claim details
Who is NOT required to sign a life insurance application? - CORRECT
ANSWERS- Beneficiary
, To be eligible for Social Security disability benefits, an employee must be
unable to perform: - CORRECT ANSWERS- any occupation
The type of annuity that can be purchased with one monetary deposit is
called a(n): - CORRECT ANSWERS- Immediate annuity
A life insurance application must be signed by all of these, EXCEPT: -
CORRECT ANSWERS- beneficiary
Which of the following is considered an accurate statement of an unfair trade
practice? - CORRECT ANSWERS- Twisting involves an agent using
misrepresentation to convince a policyowner to cancel their current policy so
that they can purchase a new life insurance policy with another company
The Accelerated Death Benefit provision in a life insurance policy is also
known as a(n): - CORRECT ANSWERS- Living Benefit
Which of the following policy features allows an insured to defer current
health charges to the following year's deductible instead of the current
year's deducitble? - CORRECT ANSWERS- Carryover provision
Insurance policies are considered aleatory contracts because - CORRECT
ANSWERS- performance is conditioned upon a future occurrence
Within how many days must a licensee notify the Department of Financial
Services of a change in address? - CORRECT ANSWERS- 30
Which organization was established to provide funds to protect an insured in
the event of an insurer's insolvency? - CORRECT ANSWERS- Florida Life and
Health Insurance Guaranty Association
The clause in an Accident and Health policy which defines the benefit
amounts the insurer will pay is called the: - CORRECT ANSWERS- Insuring
clause
When a policyowner cash surrenders a Universal Life insurance policy in it's
early years, this may be considered a red flag for a(n): - CORRECT ANSWERS-
Anti-Money Laundering violation
According to the Time Payment of Claims provision, the insurer must pay
Disability Income benefits no less frequently than which of the following
options? - CORRECT ANSWERS- Monthly
What would the Medical Information Bureau (MIB) identify? - CORRECT
ANSWERS- Testing positive for marijuana use from a previous screening
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