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FLORIDA LIFE AND HEALTH 2-15 FINAL EXAM 300+ QUESTIONS AND CORRECT DETAILED ANSWERS UPDATE ALREADY A GRADED |BRAND NEW!!{ACTUAL EXAM}$20.49
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FLORIDA LIFE AND HEALTH 2-15 FINAL EXAM 300+
QUESTIONS AND CORRECT DETAILED ANSWERS
2023-2024 UPDATE ALREADY A GRADED |BRAND
NEW!!{ACTUAL EXAM}
Which of the following factors affect the amount of monthly disability benefits payable under social
security? - ANSWERS- The THE AMOUNT OF BENEFITS AVAILABLE from other sources
Which of the following provisions specifies how long a policy owner's health coverage will remain in
effect if the policy owner does not pay the premium when it is due? - ANSWERS- Grace period
As a condition for a loan, a bank requires the borrower to purchase credit insurance from a specific
company. What is the bank guilty of? - ANSWERS- Coercion
A physician opens up a new practice and qualifies for a $7,000/monthly Disability income policy. What
rider would the physician add if he wants the ability to increase his policy benefits as his practice and
income grow? - ANSWERS- Guaranteed insurability option rider
Which of these types of coverage is best described as a short term medical policy - ANSWERS- INTERIM
coverage
The COBRA gives workers (and their families) whose employment has been terminated the right to... -
ANSWERS- Continue group health benefits
Under Florida law, which of the following provisions is NOT required in a Medicare Supplement policy? -
ANSWERS- Limitation on pre-existing conditions for up to 12 months.
What are adjustable rates for life policy loans in Florida based on? - ANSWERS- Moody's corporate bond
index
A policyowner's rights are limited under which beneficiary designation? - ANSWERS- Irrevocable
,A trustee-to-trustee transfer or rollover funds in a qualified plan allows a participant to avoid: -
ANSWERS- Mandatory income tax withholding on the transfer amount.
J is an agent who has induced an insured through misrepresentation to surrender an existing insurance
policy. What is J guilty of? - ANSWERS- Twisted (got me twisted)
Who's life is covered on a life insurance policy that contains a payor benefit clause? - ANSWERS- Child
Which of the following annuities pays benefits based on units rather that specific dollar amounts -
ANSWERS- A Variable annuity
the USA Patriot Act was enacted in - ANSWERS- 2001
What type of rider would be added to an Accident and Health Policy if the policy owner wants to ensure
the policy will continue if he/she ever becomes totally disabled? - ANSWERS- Waiver of Premium Rider
A Disability Income policyowner suffers a disability which was due to the same cause as a previous
disability. Both disabilities occurred within a five-month period. The insurer may cover the second
disability without a new elimination period under the: - ANSWERS- Recurrent disability provision
What is the purpose of the Life and Health Insurance Guaranty Association? - ANSWERS- Protect policy
owners against insolvent insurance companies
In Florida, which of the following practitioners normally do NOT receive payment from health insurance
policies? - ANSWERS- Naturopaths
S would like to use dividends from her life insurance policy to purchase paid-up additions. All of these
would be factors that determine how much coverage can be purchased EXCEPT - ANSWERS- S's attained
age
In regards to representations or warranties which of these statements is true - ANSWERS- if materialto
the Risk, false representation will void the policy
, Which of these action should be a producer take went to submitting and insurance application to an
insurer? - ANSWERS- Inform insure relevant information not included on the application
An immediate annuity consist of a: - ANSWERS- Single premium
A life insurance application must be signed by all of these except - ANSWERS- The beneficiary (kid)
Additional coverage can be added to a whole life policy by adding a(n): - ANSWERS- Decreasing term
rider
Under what system do a group of doctors and hospitals in a designated area contact with an insurer to
provide any service to a prearrange cost to the insured - ANSWERS- PPO
W is a 39-year-old female who just purchased an annuity to provide income for life starting at age 60. All
of these would be acceptable annuity choices except - ANSWERS- Immediate annuity
Florida 14 day free look period for life insurance policy begins at the - ANSWERS- Date of delivery
What is considered to be a characteristic of a conditionally renewable health insurance policy? -
ANSWERS- Premiums may increase at time of renewal
Whole life insurance policy are contractually guaranteed to provide each of the following except -
ANSWERS- Partial withdrawal features Biada surrender charge period
Group life policy is in Florida are required to contain conversion privilege that allows for conversion -
ANSWERS- To individual policy for stated period of time
The percentage of an individual's Primary Insurance Amount (PIA) determines the benefits paid in which
of the following programs - ANSWERS- Social Security Disability Income
During the course of in insurance transaction, if an agent makes a false or incomplete statement, he/she
would be found guilty of - ANSWERS- Misrepresentation
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