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2024 FLORIDA HEALTH AND LIFE INSURANCE STATE EXAM PRACTICE PART 1 WITH 100% VERIFIED SOLUTIONS
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2024 FLORIDA HEALTH AND LIFE INSURANCE STATE EXAM PRACTICE PART 1 WITH 100% VERIFIED SOLUTIONS
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2024 FLORIDA HEALTH AND LIFEINSURANCE STATE EXAM
PRACTICE PART 1 WITH 100%
VERIFIED SOLUTIONS
Which Accident and Health policy provision addresses preexisting
conditions? - CORRECT ANSWERS- Time Limit on Certain Defenses
Which of the following individual health insurance policies will provide the
broadest protection? - CORRECT ANSWERS- Major Medical
Which of the following situations does NOT apply to the Florida Replacement
Rule? - CORRECT ANSWERS- An existing policyholder purchases an
additional policy from the same insurer
Who makes the legally enforceable promises in a unilateral insurance policy?
- CORRECT ANSWERS- Insurance Company
Upon reaching the limiting age, a handicapped child can extend their health
insurance coverage as a dependent - CORRECT ANSWERS- only if the child is
incapable of employment and chiefly dependent on the policyowner
Which of the following types of policies pays a benefit if the insured goes
blind? - CORRECT ANSWERS- AD&D
A licensed agent must be appointed by an insurance company to solicit
insurance in Florida. The agent's license will terminate if a certain period of
time elapses without being appointed. How long is this period of time? -
CORRECT ANSWERS- 48 Months
Company Z has a Cross Purchase Buy-Sell Agreement in place among its
three founding partners. If the agreement is funded with individual life
insurance, what would it require? - CORRECT ANSWERS- Each Partner must
own a policy on the other partners
Agent J takes an application and initial premium from an applicant and sends
the application and premium check to the insurance company. The insurance
company returns the check back to J because the check is made out to J
, instead of the insurance company. What action should J take? - CORRECT
ANSWERS- Return to the customer, collect a new check made out to the
insurance company, and send the new check out to the insurance company
Under which of the following circumstances will the benefits under COBRA
continuation coverage end? - CORRECT ANSWERS- All group health plans
are terminated by the employer
Which type of renewability best describes a Disability Income policy that
covers an individual until the age of 65, but the insurer has the right to
change the premium rate for the overall risk class? - CORRECT ANSWERS-
Garunteed Renewable
An incomplete life insurance application submitted to an insurer will result in
which of these actions? - CORRECT ANSWERS- Application will be returned to
the writting agent
The waiting period for a pre-existing condition under a Medicare Supplement
policy may NOT go beyond - CORRECT ANSWERS- 6 Months
Which of these statements is INCORRECT regarding the federal income tax
treatment of life insurance? - CORRECT ANSWERS- Entire cash surrender
value is taxable
Which of these is considered a mandatory provision? - CORRECT ANSWERS-
Payment of Claims
Which of the following actions will an insurance company most likely NOT
take if an applicant, who has diabetes, applies for a Disability Income policy?
- CORRECT ANSWERS- Issue the policy with an altered Time of Payment of
Claims provision
Which of the following phrases refers to the fees charged by a healthcare
professional? - CORRECT ANSWERS- Usual, customary, and reasonable
expenses
D was actively serving in the Marines when he was killed in an automobile
accident while on leave. His $100,000 Whole life policy contains a War
Exclusion clause. How much will D's beneficiary's receive? - CORRECT
ANSWERS- The full face amount
N is covered under an individual Disability policy with a 30-day Elimination
period and a monthly benefit of $500. N is totally disabled for 3 1/2 months.
N's total benefit received on this claim is: - CORRECT ANSWERS- $1,250
No benefits are available during the elimination period.
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