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2024 FLORIDA HEALTH AND LIFE INSURANCE EXAM WITH CORRECT ANSWERS
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2024 FLORIDA HEALTH AND LIFE INSURANCE EXAM WITH CORRECT ANSWERS
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2024 FLORIDA HEALTH AND LIFEINSURANCE EXAM WITH CORRECT
ANSWERS
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 ANSWERS-
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 ANSWERS- 10 years
An agent who makes misleading statements that lead to the termination of
an existing insurance policy so that a new policy with another insurer can be
taken out has committed - CORRECT ANSWERS- twisting
Which factors are taken into consideration when an insurance company
determines the premium rate for a Whole Life policy on an applicant? -
CORRECT ANSWERS- Risk classification
One definition of replacement is "the act of replacing an existing insurance
policy with another". Replacement is - CORRECT ANSWERS- closely
regulated and requires full disclosure
In Florida, the underwriting and issuance of a master group health policy
requires that all employees - CORRECT ANSWERS- are eligible to participate,
regardless of their individual history
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 ANSWERS-
F
The Health Insurance Portability and Accountability Act (HIPAA) gives privacy
protection for: - CORRECT ANSWERS- health information
, What do Dread Disease policies cover? - CORRECT ANSWERS- A specific
disease or illness
When an insurance application is taken by a producer, which of these
statements is true? - CORRECT ANSWERS- 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 ANSWERS- Aviation
exclusion
What is the consideration given by an insurer in the Consideration clause of a
life policy? - CORRECT ANSWERS- Promise to pay a death benefit to a named
beneficiary
Which of the following reimburses its insureds for covered medical
expenses? - CORRECT ANSWERS- Commercial insurers
Under Florida law, which of the following provisions is NOT required in a
Medicare Supplement policy? - CORRECT ANSWERS- 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 ANSWERS- Florida Life and
Health Insurance Guaranty Association
Major Medical policies typically: - CORRECT ANSWERS- contain a deductible
and coinsurance
The Life and Health Insurance Guaranty Association is - CORRECT ANSWERS-
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 ANSWERS- P only
Which of the following is considered an accurate statement of an unfair trade
practice? - CORRECT ANSWERS- 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
ANSWERS- Coercison
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