FL LIFE AND HEALTH INSURANCE 2-15 STUDY EXAM 165

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FL LIFE AND HEALTH INSURANCE 2-15 STUDY EXAM (165

QUESTIONS)

Actual Qs and Ans - Expert-Verified Explanation -Guaranteed passing score -100 Questions and Answers

-Format: Multiple-choice / Flashcard

Question 1: Which of the following is NOT required in the Outline of Coverage for a health insurance policy?

Answer:

Projection of the policy's future costs.Question 2: 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.Question 3: N is covered by a Term Life policy and does not make the required premium payment which was due August

• N dies September 15. What action will the insurer take?

Answer:

Claim will be denied.Question 4: Agents that have been licensed for less than six years must complete ____ hours of continuing education every two years.

Answer:

24

Question 5: One becomes eligible for Social Security disability benefits after having been disabled for

Answer:

• months

Question 6: In order to sell a(n) ______ Life policy, a producer is required to register with the

Financial Industry Regulatory Authority (FINRA):

Answer:

Variable Question 7: Why is an applicant's signature required on a life insurance application?

Answer:

To attest that the statements on the application are accurate to the best of the applicant's knowledge.Question 8: A life insurance policy would be considered a wagering contract WITHOUT:

Answer:

insurable interest

Question 9: Which of the following is NOT an unfair claim settlement practice?

Answer:

Needing written documentation of claim details.Question 10: Which of the following statements BEST describes what the Legal Actions provision of an Accident and Health policy requires?

Answer:

An insured must wait at least 60 days after Proof of Loss has been submitted before a lawsuit can be filed.Question 11: K is shopping for a permanent life insurance policy that will offer her the MOST protection per dollar of annual premium. Which of these policies best fits her needs?

Answer:

Straight Life

Question 12: A policyowner would like to change the beneficiary on an Accidental Death and Dismemberment (AD&D) insurance policy and make the change permanent. Which type of designation would fulfill this need?

Answer:

Irrevocable Question 13: A license may be denied, suspended, or revoked if the licensee is found guilty of

Answer:

misrepresentation Question 14: An insurance company can contest a life insurance contract due to application fraud within

Answer:

• years

Question 15: Which policy requires an agent to register with the National Association of Securities Dealers (NASD) before selling?

Answer:

Variable Life Question 16: Which provision allows the policy owner to change a term life policy to a permanent one without providing proof of good health?

Answer:

Conversion Question 17: S is the policy owner for a Major Medical Policy. The premiums are paid monthly and due on the 1st of each month. S fails to make September's payment and is hospitalized October 15th. When S files the claim for this hospitalization the insurer will likely

Answer:

deny the claim.

Question 18: All students attending a large university could be covered by

Answer:

a blanket policy

Question 19: In Florida, monthly-premium health insurance policies must provide a grace period of at least

Answer:

10 days.

Question 20: Which of the following is NOT considered creating?

Answer:

Sharing commissions with an agent licensed in the same line of business Question 21: Why must an insurance applicant answer all questions on the application?

Answer:

Statements and representations are considered guarantees Question 22: What is the initial requirement for an insured to become eligible for benefits under the Waiver of Premium provision?

Answer:

Insured must be under a physician's care Question 23: A comprehensive major medical health insurance policy contains an Eligible Expenses provision which identifies the types of health care services that are covered. All of the

following health care services are typically covered, EXCEPT for:

Answer:

experimental and investigative services Question 24: J has a Disability Income policy that does NOT provide benefits for losses occurring as the result of his employment. What kind of coverage is this?

Answer:

Nonoccupational coverage Question 25: K is insured under a Group Life Insurance policy. K is considered to be a(n)

Answer:

certificate holder