Florida Life and Health Insurance State
Exam Review
By ExamNavigator
,Florida Life and Health Insurance State Exam Review
1. According to Florida law, a Group Life insurance policy requires a minimumof how many
insureds?
Answer: No minimum
2. Which of the following situations does a Critacal Illnes plan cover?
Answer: leukemia
3. Pre-hospitalization authorization is considered an example of:
Answer: Managedcare
4. The Bureau of Unclaimed Property is overseen by the
Answer: Cheif Financial Officer
5. Which entity approves the insurance policy forms used in Florida?
Answer: Officeof Insurance Regulation (OIR)
6. One becomes eligible for Social Security disability benefits having beendisabled for:
Answer: 5 months
7. All of the following statements about Major Medical benefits are true EX-CEPT:
Answer: Benefits have no maximum limit
8. What should an insured do if the insurer does not send claims forms within the time period
set forth in a health policy's Claims Forms provision?
Answer: Submitthe claim in any form
9. Which of the following situation does NOT apply to the Florida ReplacementRule?
Answer: An existing policyholder purchases an additional policy from the same insurer
10. Q is hospitalized for 3 days and receives a bill for $10,100. Q has a Major Medical policy
with a $100 deductible and 80/20 coinsurance. how much will Q be responsible for paying on
the claim?
Answer: $2,100
11. Which type of contract liquidates an estate through recurrent payments?-
Answer: Annuity
12. A retirement plan that sets aside part of the company's net income fordistributions to
qualified employees is called a :
Answer: profit-sharing plan
,13. A primary beneficiary has died before the insured in a life insurance policy.A contingent
beneficiary is also named in the policy. Which of the following will occur when the insured
dies?
Answer: Proceeds will go to contingent beneficiary
14. T is covered by an Accidental Death and Dismemberment (AD&D) policy that has an
irrevocable beneficiary. What action will the insurance company take if T request a. change of
beneficiary?
Answer: Request of the change will be refused
15. which of the following is an example of an Unfair Trade Practice?
Answer: Coercion
16. If a policyowner does not pay the premium by the due date, the
Answer: polucyowner can make the premium payment during the grace period
17. Which of the following factors is NOT considered when the Department ofFinancial
Services determines if an agent's home is insurance agency?
Answer: The amount of premium collected at this location
18. The difference between group insurance and blanket health polices is:
Answer: -Blanket health policies do not issue certificates
19. Any violations of the Florida financial institutions code my be investigatedby the
Answer: Department of Financial Services (DFS)
20. What is the main reason for regulating the insurance industry?
Answer: Maintainthe solvency of insurance companies
21. An individual covered under a Group Life insurance policy is consideredto be a(n)
Answer: certificated holder
22. A (n) term life policy is normally used when covering an
insured's mortgage balance
Answer: decreasing
23. In Florida, monthly-premium health insurance policies must provide agrace period of at
least
Answer: 10 days
24. Which of the following is NOT a consequence for placing business with anunauthorized
insurer?
Answer: Fist degree misdemeanor
, 25. Which of the following policy provisions prohibits an insurance company from
incorporating external documents into an insurance policy?
Answer: Entire Con-tract
26. In Florida, a health policy that is paid on a quarterly basis requires a graceperiod of
Answer: 31 days
27. Any changes made on an insurance application requires the initial ofwhom
Answer: Applicant
28. A person insured under a health policy is required to give the insurancecompany a Notice
of Claims within how many days after a covered loss?
Answer: - Twenty
29. What is the suicide provision designed to do?
Answer: safeguard the insurer from anapplicant who is contemplating suicide
30. What type of life insurance incorporates flexible premiums and an adjustable death
benefit?
Answer: Universal life
31. An insured covered by Accidental Death and Dismemberment (AD&D) insurance has
just died. What will happen if the primary beneficiary had already died before the insured and
contingent beneficiary?
Answer: Proceeds will goto the contingent beneficiary
32. In a life insurance policy, which provision state who may select policy options, designate
and name a beneficiary, and be the recipient of any financialbenefits from the policy
Answer: Owner's Rights
33. A company that owns a life insurance policy on one of its key employees may do all of the
following EXEPT
Answer: Change the policy's interest rate
34. Which of these types of coverage is best described as a short term medicalpolicy?
Answer: interim coverage
35. t took a $50,000 life insurance policy with an Accidental Death and Dismemberment
rider. Five years later, T commits suicide. How much will the insurer pay?
Answer: $50,000
36. T has a term policy that allows him to continue the coverage after expiration of the initial
policy period. What type of term coverage is this?
Answer: Renewables
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 ExamNavigator. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.99. You're not tied to anything after your purchase.
