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FLORIDA HEALTH AND LIFE INSURANCE STATE PRACTICE ACTUAL EXAM WITH VERIFIED ANSWERS
[Show more]FLORIDA HEALTH AND LIFE INSURANCE STATE PRACTICE ACTUAL EXAM WITH VERIFIED ANSWERS
[Show more]Errors and Omissions Insurance - 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? 
Waiver - Which of the following terms is known as the voluntary relinquishment of a given right or privi...
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Add to cartErrors and Omissions Insurance - 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? 
Waiver - Which of the following terms is known as the voluntary relinquishment of a given right or privi...
Life Insurance - This type of insurance pays when an insured has died to offset the economic loss to dependents. 
A) life 
B) health 
C) annuity 
D) property and casualty 
Policy - An insurance _________ is the device used by insurance companies to accumulate funds to meet uncertain losses. 
Risk Po...
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Add to cartLife Insurance - This type of insurance pays when an insured has died to offset the economic loss to dependents. 
A) life 
B) health 
C) annuity 
D) property and casualty 
Policy - An insurance _________ is the device used by insurance companies to accumulate funds to meet uncertain losses. 
Risk Po...
variable annuity - there is no guarantee of the dollar amount of the payments, they fluctuate according to the value of an account vest primarly in common stocks 
join and survivor annuity - covers two or more lives and contiunes in force so long as any one of them survives 
period certain annuity -...
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Add to cartvariable annuity - there is no guarantee of the dollar amount of the payments, they fluctuate according to the value of an account vest primarly in common stocks 
join and survivor annuity - covers two or more lives and contiunes in force so long as any one of them survives 
period certain annuity -...
The life insurance rider that pays the face amount plus the total premiums paid into the policy is known as: - Return of premium 
What kind of company can the Commissioner file a complaint to enjoin and restrain from continuing violations of the insurance regulations of Colorado? - Foreign or alien ...
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Add to cartThe life insurance rider that pays the face amount plus the total premiums paid into the policy is known as: - Return of premium 
What kind of company can the Commissioner file a complaint to enjoin and restrain from continuing violations of the insurance regulations of Colorado? - Foreign or alien ...
Florida Residency Requirement - On the application to become a Personal Lines Agent the applicant must show they are a bona fide resident of Florida. 
Controlled Business - When more than 50% of an agent's income is anticipated to come from transactions for which the agent has a business, family, o...
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Add to cartFlorida Residency Requirement - On the application to become a Personal Lines Agent the applicant must show they are a bona fide resident of Florida. 
Controlled Business - When more than 50% of an agent's income is anticipated to come from transactions for which the agent has a business, family, o...
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? - Errors and Omissions Insurance 
Which of the following terms is known as the voluntary relinquishment of a given right or privilege? - W...
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Add to cartWhich 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? - Errors and Omissions Insurance 
Which of the following terms is known as the voluntary relinquishment of a given right or privilege? - W...
This type of insurance pays when an insured has died to offset the economic loss to dependents. 
A) life 
B) health 
C) annuity 
D) property and casualty - Life Insurance 
An insurance _________ is the device used by insurance companies to accumulate funds to meet uncertain losses. - Policy 
Insuran...
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Add to cartThis type of insurance pays when an insured has died to offset the economic loss to dependents. 
A) life 
B) health 
C) annuity 
D) property and casualty - Life Insurance 
An insurance _________ is the device used by insurance companies to accumulate funds to meet uncertain losses. - Policy 
Insuran...
variable annuity - there is no guarantee of the dollar amount of the payments, they fluctuate according to the value of an account vest primarly in common stocks 
join and survivor annuity - covers two or more lives and contiunes in force so long as any one of them survives 
period certain annuity -...
Preview 2 out of 11 pages
Add to cartvariable annuity - there is no guarantee of the dollar amount of the payments, they fluctuate according to the value of an account vest primarly in common stocks 
join and survivor annuity - covers two or more lives and contiunes in force so long as any one of them survives 
period certain annuity -...
Types Of Property Policies - % 
Property Insurance Terms And Related Concepts - % 
Property Policy Provisions And Contract Law - % 
Types Of Casualty Policies, Bonds, And Related Terms - % 
Casualty Insurance Terms And Related Concepts - % 
Casualty Policy Provisions - % 
Florida Statutes, Rules, An...
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Add to cartTypes Of Property Policies - % 
Property Insurance Terms And Related Concepts - % 
Property Policy Provisions And Contract Law - % 
Types Of Casualty Policies, Bonds, And Related Terms - % 
Casualty Insurance Terms And Related Concepts - % 
Casualty Policy Provisions - % 
Florida Statutes, Rules, An...
Which of the following risks ARE eligible for coverage under a businessowners policy (BOP)? 
A) Banks 
B) Automobile dealers 
C) Bars or taverns 
D) Condominiums 
ISO maintains a list of risks not eligible for consideration for a BOP. Financial institutions, auto dealers, and bars and grills are spe...
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Add to cartWhich of the following risks ARE eligible for coverage under a businessowners policy (BOP)? 
A) Banks 
B) Automobile dealers 
C) Bars or taverns 
D) Condominiums 
ISO maintains a list of risks not eligible for consideration for a BOP. Financial institutions, auto dealers, and bars and grills are spe...
Insurance - Financial protection against loss or harm - An arrangement by which company gives customers financial protection against loss or harm such as theft or illness in return for premium payments. 
Life Insurance - Is based on actuarial or mathematical principles and guarantees a specified sum...
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Add to cartInsurance - Financial protection against loss or harm - An arrangement by which company gives customers financial protection against loss or harm such as theft or illness in return for premium payments. 
Life Insurance - Is based on actuarial or mathematical principles and guarantees a specified sum...
401K Plan - A qualified retirement plan in which the employee can set aside a portion of their income with pre-tax dollards 
Absolute Assigment vs. Collateral Asssigment - Absolute: A permanent and irrevocable transfer of rights and/or benefits by the policyowner. 
Collateral: A temporary and/or rev...
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Add to cart401K Plan - A qualified retirement plan in which the employee can set aside a portion of their income with pre-tax dollards 
Absolute Assigment vs. Collateral Asssigment - Absolute: A permanent and irrevocable transfer of rights and/or benefits by the policyowner. 
Collateral: A temporary and/or rev...
Insurance - Financial protection against loss or harm - An arrangement by which company gives customers financial protection against loss or harm such as theft or illness in return for premium payments. 
Life Insurance - Is based on actuarial or mathematical principles and guarantees a specified sum...
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Add to cartInsurance - Financial protection against loss or harm - An arrangement by which company gives customers financial protection against loss or harm such as theft or illness in return for premium payments. 
Life Insurance - Is based on actuarial or mathematical principles and guarantees a specified sum...
Under Part A of a Personal Auto Policy, which of the following losses would be covered? 
A.) Damage to property being transported by the insured 
B.) Damage to a neighbor's parked car 
C.) Damage to a neighbor's lawn mower in the care of the insured 
D.) Damage to the home the insured owns - B.) D...
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Add to cartUnder Part A of a Personal Auto Policy, which of the following losses would be covered? 
A.) Damage to property being transported by the insured 
B.) Damage to a neighbor's parked car 
C.) Damage to a neighbor's lawn mower in the care of the insured 
D.) Damage to the home the insured owns - B.) D...
Which type of cargo policy would cover a person who owns their own truck and hauls their own goods? 
a. truckers coverage form 
b. commercial articles floater 
c. motor truck cargo owners coverage form 
d. business auto policy - c. motor truck cargo owners coverage form 
An accounting firm discovers...
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Add to cartWhich type of cargo policy would cover a person who owns their own truck and hauls their own goods? 
a. truckers coverage form 
b. commercial articles floater 
c. motor truck cargo owners coverage form 
d. business auto policy - c. motor truck cargo owners coverage form 
An accounting firm discovers...
Which term describes the equal sharing of a loss by two or more insurers until the loss is paid, or until each insurer has exhausted its limits of insurance, whichever comes first? 
A 
Excess insurance 
B 
Pro rata liability 
C 
Primary insurance 
D 
Contribution by equal shares 
D: Contribution by ...
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Add to cartWhich term describes the equal sharing of a loss by two or more insurers until the loss is paid, or until each insurer has exhausted its limits of insurance, whichever comes first? 
A 
Excess insurance 
B 
Pro rata liability 
C 
Primary insurance 
D 
Contribution by equal shares 
D: Contribution by ...
What is the definition of a risk that is insurable? 
a.Risk is defined as a chance or the possibility of financial loss; only pure risks are insurable as there is no possibility of a gain 
b.A chance of a loss or gain 
c.A risk where there is a possibility of a gain 
d.A chance for insurance coverag...
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Add to cartWhat is the definition of a risk that is insurable? 
a.Risk is defined as a chance or the possibility of financial loss; only pure risks are insurable as there is no possibility of a gain 
b.A chance of a loss or gain 
c.A risk where there is a possibility of a gain 
d.A chance for insurance coverag...
Which of the following types of an individual policies does NOT require a policy summary to be given? - Credit Life 
Which of the following is considered a producer's fiduciary responsibility? - Collect premiums and remit to the insurance company as soon as reasonably possible 
If an application fo...
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Add to cartWhich of the following types of an individual policies does NOT require a policy summary to be given? - Credit Life 
Which of the following is considered a producer's fiduciary responsibility? - Collect premiums and remit to the insurance company as soon as reasonably possible 
If an application fo...
Single Premium - Allows the person to pay entire lump sum, is covered for life, and has the highest cash value. 
Level term covers - Covers for a period of time with lowest premium pay 
Endowment at age 70 - P owns a $25,000 Life Policy that pays the face amount to him if he lives to age 70, or to h...
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Add to cartSingle Premium - Allows the person to pay entire lump sum, is covered for life, and has the highest cash value. 
Level term covers - Covers for a period of time with lowest premium pay 
Endowment at age 70 - P owns a $25,000 Life Policy that pays the face amount to him if he lives to age 70, or to h...
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? - Errors and Omissions Insurance 
Which of the following terms is known as the voluntary relinquishment of a given right or privilege? - W...
Preview 3 out of 21 pages
Add to cartWhich 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? - Errors and Omissions Insurance 
Which of the following terms is known as the voluntary relinquishment of a given right or privilege? - W...
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? - Errors and Omissions Insurance 
Which of the following terms is known as the voluntary relinquishment of a given right or privilege? - W...
Preview 3 out of 21 pages
Add to cartWhich 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? - Errors and Omissions Insurance 
Which of the following terms is known as the voluntary relinquishment of a given right or privilege? - W...
Unauthorized entities present a regulatory concern because they have the potential for __________ claims. - Unauthorized entities present a regulatory concern because they have the potential for unpaid claims. 
True or False? Willfully over insuring a health or property policy can be grounds for ter...
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Add to cartUnauthorized entities present a regulatory concern because they have the potential for __________ claims. - Unauthorized entities present a regulatory concern because they have the potential for unpaid claims. 
True or False? Willfully over insuring a health or property policy can be grounds for ter...
Unauthorized entities present a regulatory concern because they have the potential for __________ claims. - Unauthorized entities present a regulatory concern because they have the potential for unpaid claims. 
True or False? Willfully over insuring a health or property policy can be grounds for ter...
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Add to cartUnauthorized entities present a regulatory concern because they have the potential for __________ claims. - Unauthorized entities present a regulatory concern because they have the potential for unpaid claims. 
True or False? Willfully over insuring a health or property policy can be grounds for ter...
An insured has a $250 Collision deductible on her auto policy - the insured hit a large oak tree in a single vehicle accident resulting in $1,800 in damages - how much will the insurance company pay the insured? - $1,550 
What amount will the insurer pay if an insured has a $340,000 policy with an 8...
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Add to cartAn insured has a $250 Collision deductible on her auto policy - the insured hit a large oak tree in a single vehicle accident resulting in $1,800 in damages - how much will the insurance company pay the insured? - $1,550 
What amount will the insurer pay if an insured has a $340,000 policy with an 8...
A certificate of authority expires on _____ each year and must be renewed annually 
June 30 
Any administrative actions or criminal prosecutions must be reported to the commissioner within _____ days 
30 days 
The commissioner must examine every licensed insurer at least once every _____ years 
5 ye...
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Add to cartA certificate of authority expires on _____ each year and must be renewed annually 
June 30 
Any administrative actions or criminal prosecutions must be reported to the commissioner within _____ days 
30 days 
The commissioner must examine every licensed insurer at least once every _____ years 
5 ye...
Who does an insurance broker in North Carolina Represent - Insured 
Which of the following does Social Security NOT provide benefits for - dismemberment 
K completes an application for disability policy but does not pay the initial premium. The company approves the policy standard and the agent deli...
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Add to cartWho does an insurance broker in North Carolina Represent - Insured 
Which of the following does Social Security NOT provide benefits for - dismemberment 
K completes an application for disability policy but does not pay the initial premium. The company approves the policy standard and the agent deli...
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