Florida Health and Life Insurance Exam|Questions with Correct Answers- Latest 2024.
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Course
FLORIDA HEALTH AND LIFE INSURANCE.
Institution
FLORIDA HEALTH AND LIFE INSURANCE.
Florida Health and Life Insurance Exam|Questions with Correct Answers- Latest 2024.
According to Mandatory Uniform Policy Provisions, what is the maximum amount of time after the premium due date during which the policy remains in force even though the premium has not been paid? - Correc...
Florida Health and Life Insurance Exam|Questions with
Correct Answers- Latest 2024.
According to Mandatory Uniform Policy Provisions, what is the maximum amount of time after the
premium due date during which the policy remains in force even though the premium has not been
paid? - Correct Answer - 31 days
G purchased a Family Income policy at age 40. The policy has a 20-year rider period. If G were to die at
age 50, how long would G's family receive an income? - Correct Answer - 10 years
E and F are business partners. Each takes out a $500,000 life insurance policy on the other, naming
himself as primary beneficiary. E and F eventually terminate their business, and four months later E dies.
Although E was married with three children at the time of death, the primary beneficiary is still F.
However, an insurable interest no longer exists. Where will the proceeds from E's life insurance policy be
directed to? - Correct Answer - F
The Health Insurance Portability and Accountability Act (HIPAA) gives privacy protection for: - Correct
Answer - health information
What do Dread Disease policies cover? - Correct Answer - A specific disease or illness
When an insurance application is taken by a producer, which of these statements is true? - Correct
Answer - Any changes made on the application require the applicant's initials
A student pilot can pay regular premium costs for her life insurance policy with the addition of which of
the following? - Correct Answer - Aviation exclusion
What is the consideration given by an insurer in the Consideration clause of a life policy? - Correct
Answer - Promise to pay a death benefit to a named beneficiary
pg. 1
,Accident - Correct Answer - An unplanned, unforeseen event which occurs suddenly and at an
unspecified place
Accident Insurance - Correct Answer - A type of insurance that protects the insured against loss due to
accidental bodily injury
Accidental Bodily Injury - Correct Answer - Unplanned, unforeseen traumatic injury to the body
Accidental Death and Dismemberment - Correct Answer - An insurance policy which pays a specified
amount or a specified multiple of the insured's benefit if the insured dies, loses his/her sight, or loses
two limbs due to an accident
Accidental Death Benefits - Correct Answer - A policy rider that states that the cause of death will be
analyzed to determine if it complies with the policy description of accidental death
Activities of Daily Living - Correct Answer - Activities individuals must do every day such as moving about,
getting dressed, eating, bathing, etc.
Actual Charge - Correct Answer - The amount a physician or supplier actually bills for a particular service
or supply
Adhesion - Correct Answer - A contract offered on a "take-it-or-leave-it" basis by an insurer, in which the
insured's only option is to accept or reject the contract. Any ambiguities in the contract will be settled in
favor of the insured
Admitted (Authorized) Insurer - Correct Answer - An insurance company authorized and licensed to
transact insurance in a particular state
Adult Day Care - Correct Answer - A program for impaired adults that attempts to meet their health,
social, and functional needs in a setting away from their homes
Adverse Selection - Correct Answer - The tendency of risks with higher probability of loss to purchase
and maintain insurance more often than the risks who present lower probability
pg. 2
,Which of the following reimburses its insureds for covered medical expenses? - Correct Answer -
Commercial insurers
Under Florida law, which of the following provisions is NOT required in a Medicare Supplement policy? -
Correct Answer - Limitation on pre-existing conditions for up to 12 months
Which organization was established to provide funds to protect an insured in the event of an insurer's
insolvency? - Correct Answer - Florida Life and Health Insurance Guaranty Association
Major Medical policies typically: - Correct Answer - contain a deductible and coinsurance
The Life and Health Insurance Guaranty Association is - Correct Answer - funded by admitted insurance
companies through assessments
P and Q are married and have three children. P is the primary beneficiary on Q's Accidental Death and
Dismemberment (AD&D) policy and Q's sister R is the contingent beneficiary. P, Q, and R are involved in
a car accident and Q and R are killed instantly. The Accidental Death benefits will be paid to: - Correct
Answer - P only
Which of the following is considered an accurate statement of an unfair trade practice? - Correct Answer
- Twisting involves an agent using misrepresentation to convince a policyowner to cancel their current
policy so that they can purchase a new life insurance policy with another company
Which of the following is an example of an Unfair Trade Practice? - Correct Answer - Coercison
The Legal Actions provision of an insurance contract is designed to do all of the following, EXCEPT: -
Correct Answer - protect the producer
Which of these actions should a producer take when submitting an insurance application to an insurer? -
Correct Answer - Inform insurer of relevant information not included on the application
A Health Reimbursement Arrangement MUST be established: - Correct Answer - by the employer
pg. 3
, If an individual has an Accidental Death and Dismemberment policy and dies, and autopsy can be
performed in all these situations, EXCEPT: - Correct Answer - When the state prohibits this by law
P is a producer who notices 5 questions on a life application were not answered. What actions should P
take? - Correct Answer - Set up a meeting with the applicant to answer the remaining questions
A disability elimination period is best described as a: - Correct Answer - time deductible
Which type of insurance company allows their policyowners to elect a governing body? - Correct Answer
- Mutual
Two Npartners Nown Nequal Nshares Nin Na Nbusiness Nworth Na Ntotal Nof N$1,000,000. NIf Nthey Nboth Ncommit Nto
Nthe Npurchase Nof Na Nlife Ninsurance Npolicy Nthat Nwill Nfund Na NBuy-Sell NAgreement, Nwhich Nof Nthe Nfollowing
Nis NTRUE? N-NCorrect NAnswer N- NEach Npartner Nowns Na N$500,000 Npolicy Non Ntheir Npartner's Nlife
N Nis Na Nstudent Npilot Nwith Na Nlarge Nlife Ninsurance Npolicy. NWhich Nof Nthese Nfeatures Nwould Nlimit Nthe
Ninsurer'sNobligation Nin Nthe Nevent NN Nwas Nkilled Nwhile Nflying Nas Na Nstudent Npilot? N- NCorrect NAnswer N-
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