Florida 2-15 Final Exam Q&A 2026/2027 GRADED A

Florida 2-15 Final Exam Q&A 2026/2027 GRADED A
When life insurance proceeds are used to pay inheritance taxes and federal estate taxes, it is known as -
Estate conservation
In group insurance, the primary purpose of the Coordination of Benefits provision is to - Prevent
overinsurance
Which of the following statements is NOT true regarding health insurance policy provisions? - All
additional provisions written by insurers are cataloged by their respective states.
The policyowner has an option to pledge the life insurance policy as collateral for a bank loan. This is
called - A collateral assignment
A whole life policy is surrendered for a reduced-paid up policy. The cash value in the new policy will -
Continue to increase
When filling out an application for insurance, the applicant makes a mistake. If a fresh application were
not available, what could the applicant do to properly correct the mistake? - Cross the incorrect answer
out, write the correct one beside it, and initial the answer.
Which of the following riders pays a beneficiary a death benefit that is double or triple the face amount
if the insured's death was caused by an accident as defined in the policy? - An Accidental Death Rider
All of the following are consideration in an insurance policy EXCEPT - The cash value in the policy.
An individual has a $200,000 convertible term life insurance policy. If he chooses, he can - Convert to a
whole life policy for the same face amount without proof of insurability