Exam (elaborations)
Florida Insurance Exam – Questions With Solutions
- Course
- FLORIDA 2-20
- Institution
- FLORIDA 2-20
Florida Insurance Exam – Questions With Solutions
[Show more]
Content preview
Florida Insurance Exam – Questions WithSolutions
The clause identifying which losses resulting from an accident or sickness are
insured by the policy is called the: ✔️Ans - 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? ✔️Ans - Conditional
A life insurance arrangement which circumvents insurable interest statutes is
called: ✔️Ans - 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?
✔️Ans - Entire Contract
Within how many days after policy delivery can a Medicare Supplement policy
be returned for a 100% premium refund? ✔️Ans - 30
Which of the following is NOT an unfair claim settlement practice? ✔️Ans -
Needing written documentation of claim details
Who is NOT required to sign a life insurance application? ✔️Ans -
Beneficiary
To be eligible for Social Security disability benefits, an employee must be
unable to perform: ✔️Ans - any occupation
The type of annuity that can be purchased with one monetary deposit is called
a(n): ✔️Ans - Immediate annuity
A life insurance application must be signed by all of these, EXCEPT: ✔️Ans
- beneficiary
Which of the following is considered an accurate statement of an unfair trade
practice? ✔️Ans - 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): ✔️Ans - 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? ✔️Ans - Carryover provision
Insurance policies are considered aleatory contracts because ✔️Ans -
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? ✔️Ans - 30
Which organization was established to provide funds to protect an insured in
the event of an insurer's insolvency? ✔️Ans - 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: ✔️Ans - 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): ✔️Ans - 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? ✔️Ans - Monthly
What would the Medical Information Bureau (MIB) identify? ✔️Ans -
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? ✔️Ans - If the
primary beneficiary dies before the insured
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 LeCrae. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for CA$18.79. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
76462 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now