FLORIDA 2-15 INSURANCE FINAL EXAM
NEWEST ACTUAL EXAM WITH COMPLETE
QUESTIONS AND DETAILED ANSWERS
GRADED A | BRAND NEW!!!
Payments for the remaining five years - ✔✔✔ Correct Answer >
Henry has a Life with Period Certain annuity (life or ten years) in
which is wife, Harriet, is beneficiary. If Henry dies after 5 years,
what will Harriet receive?
20% - ✔✔✔ Correct Answer > Disability insurance provides an
income stream for an individual who is unable to continue
working due to accident or illness. However, if a person is
under ______ disabled, he/she does not qualify for benefits.
The insured or a beneficiary may not have a valid claim. - ✔✔✔
Correct Answer > Why is it important that the agent carefully
ask the applicant each question on the application and see that
the answers are correctly stated?
,Continuance of wages - ✔✔✔ Correct Answer > A Salary
Continuation Plan can be used for the ___ of disabled
employees
An objectively reasonable basis - ✔✔✔ Correct Answer > An
insurance agent is required to have ____ for recommending an
annuity transaction to a senior consumer.
The insurance Contract - ✔✔✔ Correct Answer > Solicitation or
inducement to purchase insurance begins the process of:
The replacing agent - ✔✔✔ Correct Answer > Who is
responsible for notifying the original insurer that a replacement
policy may be issued?
The risk of dying too soon; the risk of living too long - ✔✔✔
Correct Answer > The basic risk insured against by purchasing a
life insurance contract is ____ whereas the basic risk insured
against by an annuity contract is ____.
Bob - ✔✔✔ Correct Answer > Boob and Ted both have
disability income policies. Bob's policy provides a 15 day
elimination period and a 10 year benefit period. Ted's policy
,provides a 30 day elimination period and a 7 year benefit
period. Who pays higher permiums?
Replacing a policy within the same company in a deceptive or
misleading manner - ✔✔✔ Correct Answer > Which of the
following is an example of "churning?"
The SEC - ✔✔✔ Correct Answer > Which organization regulates
the separate account in variable annuities?
Blanket insurance Policies - ✔✔✔ Correct Answer > What type
of life insurance refers to temporary coverage for a specific
hazard for a specific group?
Variable - ✔✔✔ Correct Answer > The exclusion ratio is always
considered 100% in ____ annuities.
Defamation - ✔✔✔ Correct Answer > A personal attack on a
person's good name, character, or reputation is known as:
, TRUE - ✔✔✔ Correct Answer > Florida Law does not limit the
number or percentage of employees required to participate in
order to qualify for group health insurance.
ERISA - ✔✔✔ Correct Answer > Who regulates retirement plans
in Florida?
Increase efficiency and economy in the delivery of healthcare. -
✔✔✔ Correct Answer > The purpose of Florida's Health
Maintenance Organization Act is to:
Demutualization - ✔✔✔ Correct Answer > ____ is when a
mutual company turns to a stock company.
$1,500 - ✔✔✔ Correct Answer > Ray's Medical coverage calls
for a $500 deductible, followed by an 80/20 coinsurance on the
next $5,000 in covered expenses. Ray's hospital and surgical
bills amounted to $20,000. What is Ray's maximum out-of-
pocket expenditure?
Aa fixed amount per day of hospitalization - ✔✔✔ Correct
Answer > When it comes to hospital expenses, a medical
indemnity plan pays:
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