FLORIDA 2-15 INSURANCE LICENSE EXAM LATEST REAL EXAM 2023/2024 WITH RATIONALE / GUARANTEE PASS| A+ GRADED /BRAND NEW!!
FLORIDA 2-15 INSURANCE LICENSE EXAM
1
FLORIDA 2-15 INSURANCE LICENSE
EXAM LATEST REAL EXAM 2023/2024
Which of the following is a difference between the level premium annuity and the
flexible premium annuity?
Select one:
a. The amount of the annuity benefit can be guaranteed.
b. Premiums can be made over time.
c. The purchaser can make premium payments annually.
d. The premium payment amounts can vary.
Rationale: – One of the disadvantages of the flexible premium annuity is that the
annuity benefit amount is not determined in advance.
The correct answer is: The amount of the annuity benefit can be guaranteed.
HDHPs are most often used with a
Select one:
a. HMOs
b. POSs
c. HSAs
d. PPOs
Rationale: – HDHPs (High deductible health plans) are frequently used with a HSA
(Health Savings Account).
The correct answer is: HSAs
A Medicare supplement insurer cannot deny an application for a Medicare
supplement policy if the applicant is both 65 and enrolled in:
Select one:
a. Medicare Part A
b. Medicare Part B
c. Medicare Part C
d. Medicare Part D
Rationale: – A Medicare supplement insurer cannot deny an application for a
Medicare supplement policy if the applicant is both 65 and enrolled in Medicare
Part B.
FLORIDA 2-15 INSURANCE LICENSE EXAM
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The correct answer is: Medicare Part B
Which of the following is not an eligible group for group life insurance?
Select one:
a. Employer
b. Labor union
c. Credit union
d. None of the above
Rationale: – Group life contracts may be issued to employee groups, debtor groups,
labor union groups, trustee groups, association groups, credit union groups,
dependent groups and other groups approved by the department.
The correct answer is: None of the above
Insurance advertisements may not refer to premiums as:
Select one:
a. Remittances
b. Amounts
c. Deposits
d. Payments
Rationale: – Insurance advertisements may not refer to premiums as deposits.
The correct answer is: Deposits
If a potential insured does not attach his initial premium payment to the insurance
application, he is making a legal:
Select one:
a. Counteroffer
b. Contract
c. Inquiry for an offer
d. Offer
Rationale: – If the initial premium payment does not accompany the application,
legally the application is considered an inquiry for an offer.
The correct answer is: Inquiry for an offer
FLORIDA 2-15 INSURANCE LICENSE EXAM
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Florida created the Small Employers Access Program to specifically target
employers with up to how many employees?
Select one:
a. 10
b. 15
c. 20
d. 25
Rationale: – Florida created the Small Employers Access Program to specifically
target employers with up to 25 employees.
The correct answer is: 25
Which of the following statements regarding annual renewal term (ART) policies is
false?
Select one:
a. ART premiums increase each time the policy is renewed.
b. ART usually has a maximum age after which policies are not renewable.
c. ART is guaranteed renewable on an annual basis with proof of insurability.
d. ART policies have a level face amount.
Rationale: – ART policies are guaranteed renewable (until a certain age) without
proof of insurability.
The correct answer is: ART is guaranteed renewable on an annual basis with proof
of insurability.
A contract prepared by only one party is called:
Select one:
a. Conditional
b. Adhesion
c. Unilateral
d. Aleatory
Rationale: – Insurance contracts are contracts of adhesion. In a contract of adhesion
there is only one author, the insurance company.
The correct answer is: Adhesion
FLORIDA 2-15 INSURANCE LICENSE EXAM
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Miranda has stopped paying her premiums, but a provision in her policy provides
for continuation of coverage. What is that provision called?
Select one:
a. Nonforfeiture option
b. Waiver of premium option
c. Insuring clause
d. Consideration clause
Rationale: – It is the nonforfeiture option.
The correct answer is: Nonforfeiture option
Samson has a major medical policy that has a $1,000 deductible, a maximum out of
pocket of $2,000 after the deductible, and an 80/20 coinsurance. If his medical bill
was $20,000, what will he have to pay?
Select one:
a. $2,000
b. $3,000
c. $3,800
d. $4,800
Rationale: – $3,000 ($1,000 deductible + $2,000 stop loss ) is what he’ll pay. Note in
all questions who is paying, the insured or insurer. The calculation is: $20,000 –
$1,000 = $19,000 x .20 = $3,800 (coinsurance) + $1,000 (deductible) = $4,800. This
is over the total deductible and stop loss so instead of $4,800, he’ll pay $3,000.
Note that the out of pocket is after the deductible.
The correct answer is: $3,000
This type of annuity benefit payments start within a year of purchase:
Select one:
a. Single
b. Immediate
c. Flexible
d. Deferred
Rationale: – An Immediate annuity’s benefit payments start within a year of
purchase. A Deferred annuity’s benefit payments start at a later date, greater than
12 months from of purchase.
The correct answer is: Immediate
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