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XCEL FL TEST STUDY GUIDE QUESTIONS AND ANSWERS FULLY SOLVED $13.99   Add to cart

Exam (elaborations)

XCEL FL TEST STUDY GUIDE QUESTIONS AND ANSWERS FULLY SOLVED

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XCEL FL TEST STUDY GUIDE

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  • November 5, 2024
  • 15
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Xcel solution
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XCEL FL TEST STUDY GUIDE

Which of the following types of health coverage frequently uses a deductible? - answer
Major Medical policy

What kind of Accidental Death and Dismemberment (AD&D) insurance beneficiary
requires his/her consent when a change of beneficiary is made? - answer Irrevocable
beneficiary

If a 10-Year Term Life policy contains a Renewability provision, the policy will renew -
answer without evidence of insurability

Under Florida law, a variable annuity policyowner must be notified of accumulated value
of the contract - answer once a year

Within how many days after policy delivery can a Medicare Supplement policy be
returned for a 100% premium refund? - answer30

During the course of an insurance transaction, if an agent makes a false or incomplete
statement, he/she could be found guilty of - answer misrepresentation

Accidental Death coverage is provided to commercial airline passengers in which of the
following types of policies? - answer Blanket Accident policy

An IRA owner can start making withdrawals and NOT be subjected to a tax penalty
beginning at what age? - answer59 1/2

According to the Mandatory Uniform Policy Provisions, what is the maximum amount of
time after the premium due date during which the policy remains in force even though
the premium has not been paid? - answer31 days

A licensed agent must be appointed by an insurance company to solicit insurance in
Florida. The agent's license will terminate if a certain period of time elapses without
being appointed. How long is this period of time? - answer48 months

A Life insurance policyowner would like to take out a policy loan against the cash value
in his Whole Life policy. The interest rate applied to this loan may vary over time. This is
referred to as a(n) _______ rate loan. - answerVariable

Which of these provisions require proof of insurability after a policy has lapsed? -
answerReinstatement

, What is the purpose of the Insurance Guaranty Fund Association? - answerProtects
policyowners against insolvent insurance companies

Which of the following is considered an accurate statement of an unfair trade practice? -
answerTwisting involves an agent using misrepresentation to convince a policyowner to
cancel their current policy so that they can purchases a new life insurance policy with
another company

Nursing home benefits must be provided for at least 12 consecutive months in which of
the following types of policies? - answerLong-Term Care

According to Florida law, a Group Life insurance policy requires a minimum of how
many insureds? - answerNo minimum

Life and health insurance policies are: - answerUnilateral contracts

An agent that sells ______ Life insurance MUST be registered with the Financial
Industry Regulatory Authority (FINRA). - answerVariable

With a medical discount plan, how often would a person generally pay a fee to get
discounts on specific services? - answermonthly

Insurance companies that are organized in countries outside the United States are
referred to as - answeralien

A long-term care lapse notice must be delivered to both the applicant and -
answersecondary addressee

The Department may request all of these during the licensing application process
EXCEPT - answerdrug test

A "reimbursement policy" pays what amount of coverage Long-Term Care expenses? -
answerActual covered expenses up to the daily maximum

In Florida, agents are allowed to engage in rebating if - answeroffered to all insureds in
the same actuarial class

The individual who provides general medical care for a patient as well as the referral for
specialized care is known as a: - answerPrimary Care Physician

Which of the following statements is correct regarding an employer/employee group
health plan? - answerThe employer receives a master policy and the employees receive
certificates.

In order to sell a(n) _______Life policy, a producer is required to register with the
Financial Industry Regulatory Authority (FINRA). - answerVariable

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