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2024 FLORIDA 2-15 INSURANCE LICENSE EXAM WITH 100% CORRECT ANSWERS
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2024 FLORIDA 2-15 INSURANCE LICENSE EXAM WITH 100% CORRECT ANSWERS
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2024 FLORIDA 2-15 INSURANCELICENSE EXAM WITH 100%
CORRECT ANSWERS
Accumulation units are converted into annuity units: - CORRECT ANSWERS-
at the time of annuity payout.
A group life insurance plan in which the employer pays the entire premium is
known as a ________________ plan. - CORRECT ANSWERS- noncontributory
The Insuring Clause includes all of the following EXCEPT the - CORRECT
ANSWERS- beneficiary
The three basic levels of long-term care are - CORRECT ANSWERS-
institutional care, home-based care, and community care.
Which of the following risks is insurable? - CORRECT ANSWERS- Pure risks
If a disabled worker covered under Social Security disability benefits recovers
and then is disabled again within five years, a new waiting period is required
before benefits begin again. - CORRECT ANSWERS- FALSE
Robert had an accident and qualified for Social Security disability. Given the
waiting period, when will Robert begin to receive benefits? - CORRECT
ANSWERS- After 5 months
Commercial insurers operate on the _____________ method. - CORRECT
ANSWERS- reimbursement
Medical Expense insurance is based on a contract of reimbursement. -
CORRECT ANSWERS- TRUE
FIGA is the acronym for: - CORRECT ANSWERS- Florida Insurance Guaranty
Association.
Mutualization occurs when a stock company turns to a __________ company. -
CORRECT ANSWERS- mutual
, To provide a safeguard for insureds, most major medical policies contain a
____________ feature that limits the insured's out-of-pocket expenses. -
CORRECT ANSWERS- stop-loss
Tom is a newly appointed life, health and variable annuity agent with Acme
Insurance Agency. He is writing his first insurance policy on his brother-in-
law's life. Who does Tom legally represent in this transaction? - CORRECT
ANSWERS- Acme Insurance Agency
An insurance clause is a distinct article in a formal document that establishes
the rules in the contract that _____________________ must adhere to. -
CORRECT ANSWERS- both the insurer and the insured
"ACC" refers to the type of disability that prevents someone from performing
the job he was performing prior to the disability. - CORRECT ANSWERS-
FALSE
Which statement is CORRECT about the Department of Financial Services'
right to examine an agent's records? - CORRECT ANSWERS- An examination
can be conducted at any time to discover any unfair trade practices.
Bill gives Jim a couple of tickets to a Florida Gators game to thank him for
purchasing a policy. This is an example of: - CORRECT ANSWERS- rebating
____________ term insurance provides a level amount of protection for a
specified period, after which the policy expires. - CORRECT ANSWERS- Level
Business overhead expense (B.O.E.) insurance does not provide benefits to
cover the business owner's salary. - CORRECT ANSWERS- TRUE
Level, decreasing, and increasing insurance are all basic forms of
____________ insurance. - CORRECT ANSWERS- term
Hospice services are covered under Medicare Part A. - CORRECT ANSWERS-
TRUE
Under Florida law, group health insurers must offer mental and nervous
disorder insurance to policyowners. - CORRECT ANSWERS- TRUE
Deductibles under a group major medical plan usually run from $250 to
$500; whereas individual health plans usually run from: - CORRECT
ANSWERS- $1,000 plus.
Every HMO subscriber must receive a benefits package that includes a copy
of the HMO contract and certificate, and: - CORRECT ANSWERS- a member's
handbook.
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