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2024 FL HEALTH AND LIFE INSURANCE EXAM WITH 100% CORRECT AND VALID ANSWERS
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2024 FL HEALTH AND LIFE INSURANCE EXAM WITH 100% CORRECT AND VALID ANSWERS
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2024 FL HEALTH AND LIFEINSURANCE EXAM WITH 100%
CORRECT AND VALID ANSWERS
An insured is hospitalized with a back injury.upon checking his disability
income policy, he learns that he will not be eligible for benefits for at least 30
days. This indicates that his policy is written with a 30 day ______________. -
CORRECT ANSWERS- Elimination Period
All of the following are examples of third-party ownership of a life insurance
policy EXCEPT - CORRECT ANSWERS- an insured borrows money from the
bank and makes a collateral assignment of a part of the death benefit to
secure the loan
What document describes an insured's medical history, including diagnoses
and treatments? - CORRECT ANSWERS- Attending Physician's Statement
Under a health insurance policy, other than death benefits, that have not
otherwise been assigned, will be paid to _______________ - CORRECT
ANSWERS- The insured
When a person applies for Medicare supplement insurance, whose
responsibility is it to confirm that the applicant does not already have
accident or sickness insurance in force? - CORRECT ANSWERS- Insurer
When must the Medicare Supplement Buyer's Guide be presented? -
CORRECT ANSWERS- At the time of application
Which of the following would be required to be licensed as an insurance
producer? - CORRECT ANSWERS- A salaried employee who advertises and
solicits insurance
Which of the following dates must be contained in a policy summary? -
CORRECT ANSWERS- The date the summary was prepared
Which of the following is true regarding the agent's appointments? -
CORRECT ANSWERS- A person may hold several appointments at one time.
, A policy will pay the death benefit if the insured dies during the 20 year
premium-paying period, and nothing if death occurs after the 20-year period.
What type of policy is this? - CORRECT ANSWERS- Level term
Which option for Universal life allows the beneficiary to collect both the
death benefit and cash value upon the death of the insured? - CORRECT
ANSWERS- Option B
Who must pay for the cost of a medical examination required in the process
of underwriting? - CORRECT ANSWERS- Insurer
Which of the following would be deducted from the death benefit paid to a
beneficiary, if a partial accelerated death benefit had been paid while the
insured was still alive? - CORRECT ANSWERS- Amount paid with accelerated
benefit, plus the earnings lost by insurance company in interest income from
accelerated benefit
An insured's long-term care policy is scheduled to pay a fixed amount of
coverage of $120 per day. The long-term care facility only charged $100 per
day. How much will the insurance company pay? - CORRECT ANSWERS-
$120 a day
According to the rights of renewability rider for cancellable policies, all of the
following are correct about the cancellation of an individual insurance policy
EXCEPT - CORRECT ANSWERS- Unearned premiums are retained by the
insurance company.
As it pertains to group health insurance, COBRA stipulates that - CORRECT
ANSWERS- Group coverage must be extended for terminated employees up
to a certain period of time at the former employee's expense.
All of the following statements concerning medicaid are correct EXCEPT -
CORRECT ANSWERS- Medicaid is a state funded program that provides
health care to persons over age 65, only.
Which of the following is true regarding taxation of accelerated benefits
under a life insurance policy? - CORRECT ANSWERS- They are tax free to
terminally ill insured.
An absolute assignment is a - CORRECT ANSWERS- Transfer of all ownership
rights in a policy.
Which of the following best describes the concept that the insured pays a
small amount of premium for a large amount of risk on the part of the
insurance company? - CORRECT ANSWERS- Aleatory
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