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Florida Life and Health Insurance Practice Questions/ 373 Q&A/ . Terms like: Which entity approves the insurance policy forms used in Florida? - Answer: Office of Insurance Regulation (OIR) In Florida, agents are allowed to engage in rebating $9.99
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Florida Life and Health Insurance Practice Questions/ 373 Q&A/ . Terms like: Which entity approves the insurance policy forms used in Florida? - Answer: Office of Insurance Regulation (OIR) In Florida, agents are allowed to engage in rebating
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Course
Florida Life and Health Insurance
Institution
Florida Life And Health Insurance
Florida Life and Health Insurance Practice Questions/ 373 Q&A/ . Terms like:
Which entity approves the insurance policy forms used in Florida? - Answer: Office of Insurance Regulation (OIR)
In Florida, agents are allowed to engage in rebating if... - Answer: Offered to all insured in the sam...
Florida Life and Health Insurance Practice
Questions/ 373 Q&A/ 2024-2025.
Which entity approves the insurance policy forms used in Florida? - Answer: Office of Insurance
Regulation (OIR)
In Florida, agents are allowed to engage in rebating if... - Answer: Offered to all insured in the
same actuarial class
In Florida, when agents recommend changes be made for existing coverage, the agent must
follow established procedures. The name of this rule is called the... - Answer: Florida
Replacement Rule
In Florida, an element of an insurance transaction would be... - Answer: Issuing an insurance
contract
Page 1 of 43
,The Bureau of Unclaimed Property is overseen by... - Answer: The chief financial officer
One of the stated purposes of the Life and Health Insurance Guaranty Association is... - Answer:
To assist in the prevention of insurer insolvencies
The Life and health Insurance Guaranty Association is funded by... - Answer: Assessments on
member companies
The purpose of the Guaranty Fund is to... - Answer: Ensure that claims filed against involvement
insurance companies will be paid
The rules and regulations of the Life and health Insurance Guaranty Association apply to... -
Answer: Life and health policies issues by companies authorized in that particular state
The fund that assures policyholder payment of benefits on Life and Health Policies, if the
company is involved at the time of the claim, is called the... - Answer: The Life and Health
Insurance Guaranty Association
A stock life insurance company that issues both participating and nonparticipating policies is
doing business on... - Answer: Mixed plan
A stock insurance company is owned by - Answer: Its stockholders
Who is a mutual insurance company owned by? - Answer: Its policyholders
Which type of insurance company allows their policyowners to elect a governing body? -
Answer: Mutual
Page 2 of 43
,What percentage of eligible persons must a policy cover in a noncontributory group? - Answer:
100%
Which of the following employer tasks does a Professional Employer Organization normally
handle? - Answer: Administration tasks
The Coordination of Benefits (COB) provision exists in order to... - Answer: Avoid duplication of
benefit payments
M completes an application for health insurance but does not pay the initial premium. All of
these actions must occur before M's policy goes into effect EXCEPT? - Answer: Free look period
has expired
Q applied for life insurance and submitted the initial premium on January 1. The policy was
issued February 1, but it was not delivered by the agent until February 7. Q is dissatisfied and
returns the policy February 13. How will the insurer handle this situation? - Answer: Policy was
returned within the free-look period, premium will be fully refunded
According to Florida law, which of the following info does NOT need to be obtained by an agent
recommending an annuity purchase? - Answer: Marital status
K is an agent who made improper sales of an annuity to a client. Which of the following
corrective actions would the Department of Financial Services likely order K to take? - Answer:
Pay a monetary restitution to the client
Under Florida law, a variable annuity policyowner must be notified of the accumulated value of
the contract... - Answer: Once each year
Page 3 of 43
, Which two entities regulate variable annuities? - Answer: Department of Financial Services and
Securities Exchange Commission
If an agent would like to sell Variable annuities, which state examination must the agent pass? -
Answer: Life and Variable contracts
According to Florida's rules on disclosure, a life insurance applicant is expected to be provided
with... - Answer: Buyer's Guide and Policy Summary
In Florida, most life insurance policies have a contestability period of... - Answer: 2 years
Nonprofit life insurance providers that are covered by a special section in the Florida insurance
code are called - Answer: Fraternal life insurance organizations
The 14-day free look period for life insurance policies begins at the... - Answer: Day of delivery
According to Florida law, group life insurance conversion privileges must NOT - Answer: Require
evidence of insurability
Which of the following situations are NOT subject to Florida life insurance laws? - Answer:
Insurance companies' day-to-day operations
What are adjustable rates for life policy loans in Florida based on? - Answer: Moody's corporate
bond index
A life policy loan in Florida cannot charge a fixed rate of interest higher than... - Answer: 10%
The minimum age at which a person can sign a life insurance application is... - Answer: 15 years
Page 4 of 43
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