Exam (elaborations)
FLORIDA 2-15 INSURANCE LICENSE EXAM 2024/2025
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FLORIDA 2-15 INSURANCE LICENSE EXAM 2024/2025
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FLORIDA 2-15 INSURANCE LICENSEEXAM 2024/2025
Accumulation units are converted into annuity units: - Precise Answer
✔✔at the time of annuity payout.
A group life insurance plan in which the employer pays the entire
premium is known as a ________________ plan. - Precise Answer
✔✔noncontributory
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. - Precise Answer
✔✔FALSE
Robert had an accident and qualified for Social Security disability.
Given the waiting period, when will Robert begin to receive benefits? -
Precise Answer ✔✔After 5 months
The Insuring Clause includes all of the following EXCEPT the - Precise
Answer ✔✔beneficiary
Mutualization occurs when a stock company turns to a __________
company. - Precise Answer ✔✔mutual
,To provide a safeguard for insureds, most major medical policies contain
a ____________ feature that limits the insured's out-of-pocket expenses.
- Precise Answer ✔✔stop-loss
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? - Precise Answer ✔✔Acme Insurance Agency
An insurance clause is a distinct article in a formal document that
establishes the rules in the contract that _____________________ must
adhere to. - Precise Answer ✔✔both the insurer and the insured
"ACC" refers to the type of disability that prevents someone from
performing the job he was performing prior to the disability. - Precise
Answer ✔✔FALSE
Which statement is CORRECT about the Department of Financial
Services' right to examine an agent's records? - Precise Answer ✔✔An
examination can be conducted at any time to discover any unfair trade
practices.
Bill gives Jim a couple of tickets to a Florida Gators game to thank him
for purchasing a policy. This is an example of: - Precise Answer
✔✔rebating
, ____________ term insurance provides a level amount of protection for
a specified period, after which the policy expires. - Precise Answer
✔✔Level
Business overhead expense (B.O.E.) insurance does not provide benefits
to cover the business owner's salary. - Precise Answer ✔✔TRUE
Level, decreasing, and increasing insurance are all basic forms of
____________ insurance. - Precise Answer ✔✔term
Hospice services are covered under Medicare Part A. - Precise Answer
✔✔TRUE
Under Florida law, group health insurers must offer mental and nervous
disorder insurance to policyowners. - Precise Answer ✔✔TRUE
Deductibles under a group major medical plan usually run from $250 to
$500; whereas individual health plans usually run from: - Precise
Answer ✔✔$1,000 plus.
Every HMO subscriber must receive a benefits package that includes a
copy of the HMO contract and certificate, and: - Precise Answer ✔✔a
member's handbook.
A life insurance policy will not be reinstated if it has been: - Precise
Answer ✔✔surrendered for its cash value.
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