214 FLORIDA INSURANCE EXAM /
160 + QUESTIONS AND CORRECT
ANSWERS LATEST UPDATE 2025
GRADED A+ ( BEST FOR
REVISION. ) .
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1. Which type of insurance protects an agent and even pays claimsif a lawsuit is brought against the agent as a
result of failing to provide a service to a client? AN...
214 FLORIDA INSURANCE EXAM /
160 + QUESTIONS AND CORRECT
ANSWERS LATEST UPDATE 2025
GRADED A+ ( BEST FOR
REVISION. ) .
, 1. Which type of insurance protects an agent and even pays claims if a lawsuit is brought against the agent as a
result of failing to provide a service to a client? ANSWER Errors and Omissions Insurance
2. Which of the following terms is known as the voluntary relinquishment of a given right or privilege? ANSWER
Waiver
3. This Supreme Court case placed the regulation of insurance within the au- thority of the federal government by
defining insurance as a form of interstate commerce? ANSWER United States v. Southeastern Underwriters
Association (1944)
4. Tim was just hired today by MAB INC and wants to join the company's group insurance policy. What period of
time is he currently in and when can he join the plan? ANSWER Probationary period, he can sign up after 90 days
5. If Justin submitted an initial premium with his life insurance application, was provided a conditional receipt by
the insurance company and was ultimately issued a policy as applied for, when would his insurance policy be
considered in force? ANSWER The date of his application or the day he completed any required medical exam
6. When dividends are issued, the policyowner has the following dividend options in utilizing a return
EXCEPT ANSWER ANSWER Life Income Option
7. Which two life insurance riders can Bill purchase to guarantee that his policy will continue without further
commitment from him and that income will be paid to him if he becomes totally and permanently disabled?
ANSWER Waiver of premium and Disability Income Riders
8. In a contributory group plan, what percentage of eligible employees must be covered? ANSWER 75%
9. Which statement regarding annuities is CORRECT? ANSWER Variable annuity units are fixed but the annuity
payment will vary according to the value of the annuity unit.
10. In order to be considered currently insured and thus eligible for limited survivor benefits from Social
Security, a worker must have earned credits
during the 13-quarter period ending with the quarter in which the worker died. ANSWER 6
11. Social security is also known as ANSWER ANSWER Old Age Survivors and Disability Insurance (OASDI)
12. Insurance is not intended to protect against? ANSWER Speculative Risk
13. Under a family plan life insurance policy, coverage on the breadwinner is often provided by which of the
following insurance types? ANSWER Whole Life
14. Which of the following statements regarding annuity settlement or payout options is NOT true? ANSWER
If the annuitant dies before the principal sum is depleted, the Refund Life Annuity Option will pay the entire annuity
amount to the beneficiary in a lump sum payment or over scheduled installments.
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