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215 FL LICENSE EXAM WITH QUESTION AND DETAILED ANSWERS GRADED A | 100% VERIFIED
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215 FL LICENSE EXAM WITH QUESTION AND DETAILED ANSWERS GRADED A | 100% VERIFIED
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215 FL LICENSE EXAM WITH QUESTIONAND DETAILED ANSWERS GRADED A |
100% VERIFIED
What is required in the Florida Employee Health Care Access
Act? - correct answer > Small group benefit plans are to be
issued on a "guarantee-issue" basis
Which of these terms accurately defines an underwriters
assessment of information on a life insurance application? -
correct answer > Risk classification
All of the following are nonforfeiture options except - correct
answer > Automatic Premium Loan Option
Which of the following dividend options results in taxable
income to the policy owner? - correct answer > Accumulation
at interest
The sections of an insurance constant which limit the coverage
are called - correct answer > Exclusions
,T is an employee covered under a Group Life policy. If T's
employment is terminated, the conversion privilege gives T the
right to convert - correct answer > to an individual policy upon
employment termination
Which of the following situations are NOT subject to Florida Life
insurance laws? - correct answer > Insurance companies' day-
to-day operations
J owns a business and has a Group Life policy covering her
employees. J decides to cancel the policy by letting it lapse on
the renewal date. What action must be taken? - correct answer
> All of the employees must be notified of the cancellation
either by the insurance company or through J
A life insurance policyowner may sell their policy to a(n) ___ in
order to receive a percentage of the policy's face value - correct
answer > Viatucal settlement provider
Which of the following BEST describes how a preferred provider
organization (PPO) is less restrictive than a health maintenance
organization (HMO)? - correct answer > More physicians to
choose from
,Which statement is true regarding a minor beneficiary? -
correct answer > Normally, a guardian is required to be
appointed in the Beneficiary clause of the contract
Which of the these statements about a guaranteed insurability
option rider is NOT TRUE? - correct answer > Evidence of
insurability is required when the option is exercised
Which of the following BEST describes a short term medical
expense policy? - correct answer > nonrenewable
A disability income policyowner suffered a disability in which
was due to the same cause as a previous disability. Both
disabilities occurred within a five month period. The insurer
may cover the second disability without a new elimination
period under the: - correct answer > Recurrent disability
provision
Which of the following organizations would make
reimbursement payments directly to the insured individual for
covered medical expenditures? - correct answer > Commercial
insurer
, A prepaid application for individual disability income insurance
was recently submitted to an insurer. When the insurer
received the medical information bureau (MIB) report, the
report showed that the applicant had suffered a stroke 18
months ago, something that was not disclosed on the
application. Which of the following actions would the insurance
company not take - correct answer > Send a notice to the MIB
that the applicant was declined
What is the primary factor that determines the benefits paid
under a disability income policy? - correct answer > Wages
Periodic health claim payments MUST be made at least -
correct answer > monthly
At what time must a policyowner have insurance interest on
the insurer in order for the life policy to be valid? - correct
answer > At the time of the application
The clause in an Accident and Health policy which defines the
benefit amounts the insurer will pay is called the - correct
answer > Insuring clause
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