XCEL FL TEST STUDY GUIDE VERIFIED ANSWERS
Which of the following types of health coverage frequently uses a deductible?
️ Major Medical policy.
What kind of Accidental Death and Dismemberment (AD&D) insurance beneficiary requires consent
when a change of beneficiary is made?
️ Irr...
Which of the following types of health coverage frequently uses a deductible?
✔️ Major Medical policy.
What kind of Accidental Death and Dismemberment (AD&D) insurance beneficiary requires consent
when a change of beneficiary is made?
✔️ Irrevocable beneficiary.
If a 10-Year Term Life policy includes a Renewability provision, the policy will renew:
✔️ Without evidence of insurability.
Under Florida law, how often must a variable annuity policyowner be notified about the accumulated
value of the contract?
✔️ Once a year.
How many days after policy delivery can a Medicare Supplement policy be returned for a full premium
refund?
✔️ 30 days.
During an insurance transaction, if an agent makes a false or incomplete statement, he/she may be
found guilty of:
✔️ Misrepresentation.
Accidental Death coverage is provided to commercial airline passengers under which type of policy?
✔️ Blanket Accident policy.
At what age can an IRA owner begin making withdrawals without incurring a tax penalty?
✔️ 59½ years.
,According to the Mandatory Uniform Policy Provisions, what is the maximum amount of time a policy
remains in force after the premium due date if unpaid?
✔️ 31 days.
How long can an insurance agent's license remain inactive without an appointment in Florida before it
terminates?
✔️ 48 months.
A Life insurance policyowner wishing to borrow against the cash value of their Whole Life policy may
encounter an interest rate that varies over time. This is known as a(n) _______ rate loan.
✔️ Variable.
Which provision requires proof of insurability after a policy has lapsed?
✔️ Reinstatement.
What is the main purpose of the Insurance Guaranty Fund Association?
✔️ To protect policyowners against insolvent insurance companies.
Which of the following statements accurately reflects an unfair trade practice?
✔️ Twisting involves an agent using misrepresentation to convince a policyowner to cancel their
current policy to purchase a new life insurance policy from another company.
Nursing home benefits must be provided for at least how many consecutive months in which type of
policy?
✔️ Long-Term Care policy.
According to Florida law, how many insureds are required for a Group Life insurance policy?
✔️ No minimum.
, Life and health insurance policies are classified as:
✔️ Unilateral contracts.
An agent that sells ______ Life insurance must be registered with the Financial Industry Regulatory
Authority (FINRA).
✔️ Variable.
With a medical discount plan, how often is a fee generally paid to access discounts on specific services?
✔️ Monthly.
Insurance companies formed in countries outside the United States are referred to as:
✔️ Alien companies.
A long-term care lapse notice must be provided to both the applicant and a:
✔️ Secondary addressee.
During the licensing application process, the Department may request all of these EXCEPT:
✔️ Drug test.
A "reimbursement policy" covers what amount of Long-Term Care expenses?
✔️ Actual covered expenses up to the daily maximum.
In Florida, agents are allowed to engage in rebating if:
✔️ Offered to all insureds in the same actuarial class.
The individual who delivers general medical care to a patient and refers them for specialized care is
called a:
✔️ Primary Care Physician.
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