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Florida 2-15 Insurance License Exam questions and answers already graded A+ 2024/2025
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Florida 2-15 Insurance License Exam questions and answers already graded A+ 2024/2025
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Florida 2-15 Insurance License ExamAccumulation units are converted into annuity units: - ANSat the time of annuity payout.
A group life insurance plan in which the employer pays the entire premium is known as a
________________ plan. - ANSnoncontributory
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. -
ANSFALSE
Robert had an accident and qualified for Social Security disability. Given the waiting period,
when will Robert begin to receive benefits? - ANSAfter 5 months
The Insuring Clause includes all of the following EXCEPT the - ANSbeneficiary
Mutualization occurs when a stock company turns to a __________ company. - ANSmutual
To provide a safeguard for insureds, most major medical policies contain a ____________
feature that limits the insured's out-of-pocket expenses. - ANSstop-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? - ANSAcme Insurance Agency
An insurance clause is a distinct article in a formal document that establishes the rules in the
contract that _____________________ must adhere to. - ANSboth 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. - ANSFALSE
Which statement is CORRECT about the Department of Financial Services' right to examine an
agent's records? - ANSAn 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: - ANSrebating
____________ term insurance provides a level amount of protection for a specified period, after
which the policy expires. - ANSLevel
, Business overhead expense (B.O.E.) insurance does not provide benefits to cover the business
owner's salary. - ANSTRUE
Level, decreasing, and increasing insurance are all basic forms of ____________ insurance. -
ANSterm
Hospice services are covered under Medicare Part A. - ANSTRUE
Under Florida law, group health insurers must offer mental and nervous disorder insurance to
policyowners. - ANSTRUE
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: - ANSa member's handbook.
A life insurance policy will not be reinstated if it has been: - ANSsurrendered for its cash value.
Which of the following is NOT a type of permanent life insurance? - ANSTerm Life
In Florida, a ______________ must sign for and on behalf of a minor purchasing life insurance.
- ANSparent or legal guardian
When an agent spreads a false story that damages a competing agent's reputation, the offense
is called: - ANSdefamation
__________ 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. -
ANSChurning
Once an organization has filed an application to conduct insurance business, the Office of
Insurance Regulation will begin its review for issuing a(n): - ANSCertificate 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. - ANSTRUE
If an insurance company reimburses the insured for medical expenses, can the insured deduct
that amount from their federal income tax? - ANSNO
Which of the following is NOT a benefit to key person insurance? - ANSWage control
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