ACCUMULATION UNITS ARE CONVERTED INTO ANNUITY UNITS: - CORRECT SOLUTION AT THE TIME OF ANNUITY PAYOUT.
A GROUP LIFE INSURANCE PLAN IN WHICH THE EMPLOYER PAYS THE ENTIRE PREMIUM IS KNOWN AS A ________________ PLAN. - CORRECT SOLUTION NONCONTRIBUTORY
IF A DISABLED WORKER COVERED UNDER SOCIAL SE...
FLORIDA 2-15 INSURANCE LICENSE EXAM
100% COMPLETE SOLUTIONS
ACCUMULATION UNITS ARE CONVERTED INTO ANNUITY UNITS: -
CORRECT SOLUTION AT THE TIME OF ANNUITY PAYOUT.
A GROUP LIFE INSURANCE PLAN IN WHICH THE EMPLOYER PAYS THE
ENTIRE PREMIUM IS KNOWN AS A ________________ PLAN. - CORRECT
SOLUTION NONCONTRIBUTORY
IF A DISABLED WORKER COVERED UNDER SOCIAL SECURITY
DISABILITY BENEFITS RECOVERS AND THEN IS DISABLED AGAIN
WITHIN FIVE YEARS, A NEW WAITING PERIOD IS REQUIRED BEFORE
BENEFITS BEGIN AGAIN. - CORRECT SOLUTION FALSE
ROBERT HAD AN ACCIDENT AND QUALIFIED FOR SOCIAL SECURITY
DISABILITY. GIVEN THE WAITING PERIOD, WHEN WILL ROBERT
BEGIN TO RECEIVE BENEFITS? - CORRECT SOLUTION AFTER 5
MONTHS
THE INSURING CLAUSE INCLUDES ALL OF THE FOLLOWING EXCEPT
THE - CORRECT SOLUTION BENEFICIARY
MUTUALIZATION OCCURS WHEN A STOCK COMPANY TURNS TO A
__________ COMPANY. - CORRECT SOLUTION MUTUAL
TO PROVIDE A SAFEGUARD FOR INSUREDS, MOST MAJOR MEDICAL
POLICIES CONTAIN A ____________ FEATURE THAT LIMITS THE
INSURED'S OUT-OF-POCKET EXPENSES. - CORRECT SOLUTION STOP-
LOSS
,TOM IS A NEWLY APPOINTED LIFE, HEALTH AND VARIABLE ANNUITY
AGENT WITH ACME INSURANCE AGENCY. HE IS WRITING HIS FIRST
INSURANCE POLICY ON HIS BROTHER-IN-LAW'S LIFE. WHO DOES TOM
LEGALLY REPRESENT IN THIS TRANSACTION? - CORRECT SOLUTION
ACME INSURANCE AGENCY
AN INSURANCE CLAUSE IS A DISTINCT ARTICLE IN A FORMAL
DOCUMENT THAT ESTABLISHES THE RULES IN THE CONTRACT THAT
_____________________ MUST ADHERE TO. - CORRECT SOLUTION BOTH
THE INSURER AND THE INSURED
"ACC" REFERS TO THE TYPE OF DISABILITY THAT PREVENTS
SOMEONE FROM PERFORMING THE JOB HE WAS PERFORMING PRIOR
TO THE DISABILITY. - CORRECT SOLUTION FALSE
WHICH STATEMENT IS CORRECT ABOUT THE DEPARTMENT OF
FINANCIAL SERVICES' RIGHT TO EXAMINE AN AGENT'S RECORDS? -
CORRECT SOLUTION 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:
- CORRECT SOLUTION REBATING
____________ TERM INSURANCE PROVIDES A LEVEL AMOUNT OF
PROTECTION FOR A SPECIFIED PERIOD, AFTER WHICH THE POLICY
EXPIRES. - CORRECT SOLUTION LEVEL
, BUSINESS OVERHEAD EXPENSE (B.O.E.) INSURANCE DOES NOT
PROVIDE BENEFITS TO COVER THE BUSINESS OWNER'S SALARY. -
CORRECT SOLUTION TRUE
LEVEL, DECREASING, AND INCREASING INSURANCE ARE ALL BASIC
FORMS OF ____________ INSURANCE. - CORRECT SOLUTION TERM
HOSPICE SERVICES ARE COVERED UNDER MEDICARE PART A. -
CORRECT SOLUTION TRUE
UNDER FLORIDA LAW, GROUP HEALTH INSURERS MUST OFFER
MENTAL AND NERVOUS DISORDER INSURANCE TO POLICYOWNERS. -
CORRECT SOLUTION TRUE
DEDUCTIBLES UNDER A GROUP MAJOR MEDICAL PLAN USUALLY
RUN FROM $250 TO $500; WHEREAS INDIVIDUAL HEALTH PLANS
USUALLY RUN FROM: - CORRECT SOLUTION $1,000 PLUS.
EVERY HMO SUBSCRIBER MUST RECEIVE A BENEFITS PACKAGE
THAT INCLUDES A COPY OF THE HMO CONTRACT AND CERTIFICATE,
AND: - CORRECT SOLUTION A MEMBER'S HANDBOOK.
A LIFE INSURANCE POLICY WILL NOT BE REINSTATED IF IT HAS
BEEN: - CORRECT SOLUTION SURRENDERED FOR ITS CASH VALUE.
WHICH OF THE FOLLOWING IS NOT A TYPE OF PERMANENT LIFE
INSURANCE? - CORRECT SOLUTION TERM LIFE
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