Florida Life and Health State Exam Questions With Correct Answers
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Course
Florida life and health
Institution
Florida Life And Health
Florida Life and Health State Exam Questions With Correct Answers
A _____ day notice to the policyholder is required for any health insurer that wishes to cancel a health insurance policy - Answer-45 day notice
/.A 15-year mortgage is best protected by what kind of like policy? - Answer-15-ye...
A _____ day notice to the policyholder is required for any health insurer that wishes to
cancel a health insurance policy - Answer-45 day notice
/.A 15-year mortgage is best protected by what kind of like policy? - Answer-15-year
decreasing term
/.A contract or one party either accept or reject the terms of a contract written by
another party is called a contract of - Answer-Adhesion
One-sided, "take-it-or-leave-it" contract drafted by one party and then signed by
another. The party writing the contract usually has more bargaining power than the one
signing.
/.A life insurance policy that provides a policyowner with cash value along with a level
face amount is called - Answer-Whole Life
Provides the insured with a cash value as well as a level face amount.
/.A Limited-Pay Life policy has - Answer-Premium payments that are paid to age 100
/.A long term care lapse notice must be delivered to both the applicant and - Answer-
Secondary Addressee
/.A Whole Life insurance policy owner does NOT have the right to - Answer-Change the
grace period
They CAN:
-Designate a beneficiary
-Take out a policy loan
-Assign the policy
/.Accidental Death coverage is provided to commercial airline passengers in which of
the following types of policies? - Answer-Blanket Accident Policy
/.According to Florida's rules on disclosure, a life insurance applicant is expected to be
provided with - Answer-a Buyer's Guide and Policy Summary
/.Additional coverage can be added to a Whole Life policy by adding a(n) - Answer-
Decreasing term rider
A decreasing term rider can add additional coverage to a whole-life policy.
, /.All of the following statements are true regarding your policies grace EXCEPT:
-Past due premiums are waived
-Policy loans may still be made
-Full coverage continues
-Grace period terms are stated in the policy - Answer-Past due premiums are waived
/.An application for Medicare Supplement coverage may NOT be denied by the insurer
if the application was submitted within _____ months after the application reaches the
age of 65 - Answer-Six Months
/.An individual covered under a Group Life insurance policy is considered to be a(n) -
Answer-Certificate Holder
Each person insured under a Group Life insurance policy is a certificate holder.
/.B's policy provides coverage on and in hospital basis only in contains a limited daily
room and board benefit.
Which of these policies does B have? - Answer-Basic Hospital
/.Basic Medical Expense Insurance - Answer-Has lower benefit limits than Major
Medical Insurance
-Basic coverage provided by an individual medical expense policy includes hospital
expense, surgical expense, and medical expense.
-May be sold together or separately.
-Frequently written as first-dollar coverage which means there is no deductible.
/.Before a life policy is issued, which of these contract elements is necessary? - Answer-
A signed application by the prospect; the potential buyer of insurance.
/.C is the policy owner of a Comprehensive individual major medical policy. C pays an
annual premium which is due September 1.
If C forgets to pay the premium and is hospitalized September 10, how will the insurer
handle this claim? - Answer-Pay the claim in full minus the premium due.
Because the grace period is 31 days for individual accident and health policy paid
annually.
/.Change of Beneficiary provision - Answer-The policyowner can change the beneficiary
Consent may be needed by the current beneficiary if designated as irrevocable
/.Commercial Insurer - Answer-Any insurer whose principal business is selling
insurance to anyone who requests a quotation, not just shareholders of the insurer.
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