FLORIDA 2-15 INSURANCE LICENSE EXAM |50 NEW QUESTIONS AND ANSWERS + RATIONALE<\/p>\n\n\n\n
FLORIDA 2-15 INSURANCE LICENSE EXAM
1
FLORIDA 2-15 INSURANCE LICENSE EXAM |50
NEW QUESTIONS AND ANSWERS + RATIONALE
What is the minimum free look period for life insurance policies in Florida?
Select one:
a. 14 days
b. 21 days
c. 30 days
d. 31 days
Rationale: The unconditional refund time (free look period) for life insurance
policies in Florida is at least 14 days.
Tim has a special savings medical plan whereby the funds do not rollover from year
to year. This plan is a:
Select one:
a. Group health insurance
b. HRA
c. HSA
d. FSA
Rationale: FSA funds are available on a use-it or lose-it basis, and must be used in
the plan year they are contributed to the FSA, or they will be forfeited.
What does a producer do at delivery if, he submits an application with a premium.
After underwriting, the insurer sends back the policy, rated, with an impairment
rider.
Select one:
a. Explain that the policy is rated.
b. Explain the issue and collect an additional premium.
c. Tell the applicant that they were declined.
d. Nothing
Rationale: If the policy is rated, the producer needs to explain the issue and collect
an additional premium.<\/p>\n\n\n\n
FLORIDA 2-15 INSURANCE LICENSE EXAM
2
What is an entity which, in return for a prepayment, undertakes to provide or
arrange for, or provide access to, the provision of a limited health service to
enrollees through an exclusive panel of providers?
Select one:
a. EPO
b. MEWA
c. PLHSO
d. DMPO
Rationale: Prepaid limited health service organization (PLHSO) is defined as any
person, corporation, partnership, or any other entity which, in return for a
prepayment, undertakes to provide or arrange for, or provide access to, the
provision of a limited health service to enrollees through an exclusive panel of
providers.
Angela is now 65 years old. The cash value of her 20-pay endowment at age 65
policy is equal to:
Select one:
a. The sum of premiums paid plus interest and dividends.
b. None of the above
c. The guaranteed cash value plus interest.
d. The face amount of the policy.
Rationale: The cash value is equal to the face amount of the policy.
On the death of an insured, settlement of a life insurance policy is made when:
Select one:
a. Proof of death is received
b. Surrender of the policy
c. Proof of death and surrender of the policy
d. Proof of death, surrender of the policy and a notarized request
Rationale: When an insured dies and a claim is submitted, settlement must be made
upon receipt of proof of death and surrender of the policy.
Which of the following is a difference between the level premium annuity and the
flexible premium annuity?
Select one:<\/p>\n\n\n\n
FLORIDA 2-15 INSURANCE LICENSE EXAM
3
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.
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).
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.
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
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