Which of the following documents must an agent submit to the replacing insurance company during the
replacement of an existing life insurance policy? - ANSWER Notice to existing and replacing insurers of
intention to replace
Which of the following is not considered rebating? - ANSWER Sharing commissions with an agent
licensed in the same line of business
According to Florida law which of the following statements accurately describes an admitted mail order
insurance company? - ANSWER It may solicit insurance business by mail without the assistance of a
licensed agent
If an insurance company issues a disability income policy that it cannot cancel or for which it cannot
increase premiums the type of renewability that best describes this policy is called - ANSWER
noncancellable
How does group insurance differ from individual insurance? - ANSWER Premiums are lower
The clause identifying which losses resulting from an accident or sickness are insured by the policy is
called the - ANSWER Insuring clause
Medicare part B does not cover - ANSWER inpatient hospital services
Which plan is intended to be used by a sole proprietor and employees of that business? - ANSWER
Keogh Plan
,Which of the following provisions is not required in HMO contracts/certificates? - ANSWER Seven-day
grace period
In Florida, and ensure license to conduct business in Florida, but domiciled in New Jersey, is called a(n) -
ANSWER Foreign company
Which of these types of policies may not have the automatic premium loan provision attached to it? -
ANSWER Decreasing term
N purchases an annuity by making payments in an amount no less than $100 quarterly. This describes
which of the following annuities? - ANSWER Flexible Installment Deferred
The insurer must provide a perspective buyer with a(n) - ANSWER Buyers guide and policy summary
P is an employee who quits her job and wants to convert her group health coverage to an individual
policy. After the expiration of COBRA laws, Which of the following statements is true? - ANSWER She
does NOT need to provide evidence of insurability
Which of the following consist of an offer, acceptance, and consideration? - ANSWER Contract
Which of the following health insurance policy provisions specifies the healthcare services a policy will
provide? - ANSWER Insuring clause
Group/voluntary long-term care policy premiums are typically deducted from the employees income
and, - ANSWER are less costly as compared to individual long term care coverage
During the application process, the agents primary Responsibility is to - ANSWER insurance company
I am complete an application for life insurance but does not pay the initial premium. All of these actions
must occur before M's policy goes into effect except - ANSWER Free look period has expired
, With accidental death and dismemberment policies, what is the purpose of the grace period? - ANSWER
Gives the policyowner additional time to pay past due premiums
A mutual insirandw company and a stock insurance company have one main difference between them.
What is this major contrast? - ANSWER Stock company is invited shareholders. Mutual company is
owned by its policyholders.
The notice of claims provision requires a policy owner to - ANSWER Notify an insurer of a claim within a
specified time
What percentage of eligible persons must a policy cover in a non-contributory group? - ANSWER 100%
And insurer receives proof Of loss for an acceptable medical expense claim under an individual health
insurance policy. Under the time of payment of claims provision, the insurer must pay the benefits -
ANSWER Immediately
A father who dies within three years after purchasing a life insurance policy on his infant daughter can
have the policy premiums waved under which provision? - ANSWER Payor Provision
According to Florida law, group life insurance conversion privileges must not - ANSWER require evidence
of insurability
He licensed agent must be appointed by an insurance company to solicit insurance in Florida. The agents
license will terminate if a certain period of time elapses without being appointed. How long is this period
of time? - ANSWER 48 months
And insured must notify an insurer of a medical claim within how many days after an accident? -
ANSWER 20
T and S are named co-primary beneficiaries on a $500,000 Accidental Death and Dismemberment policy
insuring their father. Their mother was named contingent beneficiary. Five years later, S dies of natural
causes and the father is killed in a scuba accident shortly afterwards. How much of the death benefit will
the mother receive? - ANSWER $0
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