Florida 2-15 Insurance License Exam 2023/2024(Gold Rated)Questions & Answers(100% Verified Answers)
Accumulation units are converted into annuity units:
A group life insurance plan in which the employer pays the entire premium is known as a ________________ plan.
If a disabled worker covered und...
1). Accumulation units are converted into annuity units:
Ans: at the time of annuity payout.
2). A group life insurance plan in which the employer pays the entire premium is known as a
________________ plan.
Ans: noncontributory
3). 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.
Ans: FALSE
4). Robert had an accident and qualified for social security disability. given the waiting period,
when will robert begin to receive benefits?
Ans: After 5 months
5). The insuring clause includes all of the following except the
Ans: beneficiary
6). Mutualization occurs when a stock company turns to a __________ company.
Ans: mutual
7). To provide a safeguard for insureds, most major medical policies contain a ____________
feature that limits the insured's out-of-pocket expenses.
Ans: stop-loss
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, 8). 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?
Ans: Acme Insurance Agency
9). An insurance clause is a distinct article in a formal document that establishes the rules in
the contract that _____________________ must adhere to.
Ans: both the insurer and the insured
10). "acc" refers to the type of disability that prevents someone from performing the job he was
performing prior to the disability.
Ans: FALSE
11). Which statement is correct about the department of financial services' right to examine an
agent's records?
Ans: An examination can be conducted at any time to discover any unfair trade
practices.
12). Bill gives jim a couple of tickets to a florida gators game to thank him for purchasing a
policy. this is an example of:
Ans: rebating
13). ____________ term insurance provides a level amount of protection for a specified period,
after which the policy expires.
Ans: Level
14). Business overhead expense (b.o.e.) insurance does not provide benefits to cover the
business owner's salary.
Ans: TRUE
15). Level, decreasing, and increasing insurance are all basic forms of ____________ insurance.
Ans: term
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, 16). Hospice services are covered under medicare part a.
Ans: TRUE
17). Under florida law, group health insurers must offer mental and nervous disorder insurance
to policyowners.
Ans: TRUE
18). Deductibles under a group major medical plan usually run from $250 to $500; whereas
individual health plans usually run from:
Ans: $1,000 plus.
19). Every hmo subscriber must receive a benefits package that includes a copy of the hmo
contract and certificate, and:
Ans: a member's handbook.
20). A life insurance policy will not be reinstated if it has been:
Ans: surrendered for its cash value.
21). Which of the following is not a type of permanent life insurance?
Ans: Term Life
22). In florida, a ______________ must sign for and on behalf of a minor purchasing life
insurance.
Ans: parent or legal guardian
23). When an agent spreads a false story that damages a competing agent's reputation, the
offense is called:
Ans: defamation
24). __________ is when policy values of an insurance policy are used to purchase another
policy with the same insurer for the sole purpose of earning additional premiums or
commissions.
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