Florida replacement rule - Study guides, Class notes & Summaries

Florida Health and Life Insurance State Exam Practice Part 1 (2023/2024) Rated A+ Which Accident and Health policy provision addresses preexisting conditions? Time Limit on Certain Defenses Which of the following individual health insurance policies will provide the broadest protection? Major Medical Which of the following situations does NOT apply to the Florida Replacement Rule? An existing policyholder purchases an additional policy from the same insurer Agent J takes an application and in...

Florida Claims Adjuster Exam, 6-20 All Lines Adjuster- Florida- Review Already Passed Peril Something that causes a loss. Hazard Something that increases the probability that a loss will occur. Warranty A policy condition, either based on information in the insureds application or inserted by the insurer. It is a guarantee of a fact. Misrepresentation An untrue statement by the insured, made in an application for insurance but which does not become a part of the policy. Concealment The fail...

Florida Laws and Rules Pertinent to Insurance Ch. 8 Already Passed How many hours of continuing education must a newly licensed agent complete every two years 24 A variable life insurance agent must be licensed and appointed as a life and variable contract agent, as well as a(n) broker dealer Which of the following documents must an agent submit to the replacing insurance company during the replacement of an existing life insurance policy? Notice to existing and replacing insurers of intentio...

Florida Health and Life Insurance State Exam Practice Part 1 Question and answers rated A+ 2023/2024Which Accident and Health policy provision addresses preexisting conditions? - correct answer Time Limit on Certain Defenses Which of the following individual health insurance policies will provide the broadest protection? - correct answer Major Medical Which of the following situations does NOT apply to the Florida Replacement Rule? - correct answer An existing policyholder purchases an add...

Which Accident and Health policy provision addresses preexisting conditions? - Time Limit on Certain Defenses Which of the following individual health insurance policies will provide the broadest protection? - Major Medical Which of the following situations does NOT apply to the Florida Replacement Rule? - An existing policyholder purchases an additional policy from the same insurer Agent J takes an application and initial premium from an applicant and sends the application and premium ch...

FLORIDA LAWS AND RULES PERTINENT TO INSURANCE CH. 8 EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS GRADED A++ How many hours of continuing education must a newly licensed agent complete every two years 24 A variable life insurance agent must be licensed and appointed as a life and variable contract agent, as well as a(n) broker dealer Which of the following documents must an agent submit to the replacing insurance company during the replacement of an existing life insurance policy? N...

peril - ANSWER the immdeiate specific event causing loss and giving rise to risk hazard - ANSWER any factor that gives rise to a peril physical hazard - ANSWER individual characteristics that increase chance of peril *physical condition, past medical history, condition at birth moral hazard - ANSWER tendencies that people may have that increase risk and chance of loss *drug addiction and alcholism morale hazard - ANSWER individual tendencies that arise from an attitude or state of m...

Which Accident and Health policy provision addresses preexisting conditions? - Time Limit on Certain Defenses Which of the following individual health insurance policies will provide the broadest protection? - Major Medical Which of the following situations does NOT apply to the Florida Replacement Rule? - An existing policyholder purchases an additional policy from the same insurer Agent J takes an application and initial premium from an applicant and sends the application and premium ch...

Replacement ruleInstructions regarding the rule are available from appointed life insurers Which of the following is NOT considered to be an element of replacement?An existing policy is subjected to a loan of 10% of its value All of the following apply under the federal ERISA law EXCEPTthe Florida law on retirement plans supersedes ERISA" During what period is a new insurance policyowner entitled to review a policy and return it for a full refundWithin 14 days after delivery of the p...

Florida Life and Health Insurance Practice Questions With Complete Solutions 30 Within how many days must a licensee notify the Department of Financial Services of a change in address? All of the following entries are classified under the four principal areas of Florida insurance law EXCEPT... An agent's commission Which of the following factors is NOT considered when the Department of Financial Services determines if an agent's home is an insurance agency? The amount of pr...