FLORIDA HEALTH AND LIFE INSURANCE EXAM AND PRACTICE EXAM LATEST 2026/2027 ACTUAL EXAM QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+ (64pages)

Which parts of a life insurance insurance policy are guaranteed to be true? - ANSWER-- Warranty Florida requires that coverage for newborns begins "from the moment of birth" and continues for - ANSWER--18 months Florida's 14-day free-look period for life insurance policies begins at the - ANSWER--date of delivery Which of the following policy provisions prohibits an insurance company from incorporating external documents into an insurance policy? - ANSWER--Entire Contract Periodic health claim payments MUST be made at least: - ANSWER-- monthly A life policy loan in Florida cannot charge a fixed rate of interest higher than - ANSWER--10% What type of group insurance plan involved employees sharing the cost? - ANSWER--contributory plan The Florida Employee Health Care Access Act was established to make - ANSWER--group health insurance available to employers with up to 50 employees Which of these is NOT a legal entity for selling insurance in Florida? - ANSWER--Risk management advisors From what authority derives the requirement that an insurance application contains a disclosure stating that an investigative consumer report may be obtained on an applicant? - ANSWER--Fair Credit Reporting Act S wants to open a tax-exempt Health Savings Account. To qualify for this type of account, Federal law dictates that S must be enrolled in a: - ANSWER--High-deductible health plan If an insurance company issues a Disability Income policy that it cannot cancel of for which it cannot increase premiums, the type of renewability that best describes the policy is called: - ANSWER-- noncancellable A Multiple Employer Welfare Arrangement (MEWA) provides what type of benefits? - ANSWER- -Insurance 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 - ANSWER--to an individual policy upon employment termination Which of the following statements describes what an Accident and Health policyowner may NOT do? - ANSWER--Adjust the premium payments According to Florida Law, in which of the following situations would a dependent handicapped child NOT be covered under a Family Health policy? - ANSWER--The premiums for the handicapped child are not paid K is an agent who made an improper sales of an annuity to a client/ Which of the following corrective actions would the Department of Financial Services likely order K to take - ANSWER-- Pay a monetary restitution to the client Which of these types of life insurance allows the policyowner to have level premiums and to also choose from a selection of investment options? - ANSWER--Variable Life Rick recently died and left behind an individual IRA account in his name. His widow was forwarded the balance of the IRA. The widow qualifies for the: - ANSWER--marital deduction What are adjustable rates for the life policy loans in Florida based on? - ANSWER--Moody's corporate bond index According to the Time Limit of Certain Defenses provision in an Individual Health Insurance Policy, nonfraudulent misstatements first become incontestable: - ANSWER--two years from the date of the policy was issued Which of the following does Social Security NOT provide benefits for? - ANSWER-- Dismemberment What type of insurance company is domiciled in England, but conducts business in Florida? - ANSWER--Alien S buys a $50,000 whole life policy with a $50,000 Accidental Death and Dismemberment rider. S dies 1 year later of natural causes. How much will the insurer pay the beneficiary? - ANSWER-- $50,000 Which of the following is NOT an unfair claim settlement practice? - ANSWER--Needing written documentation of claim details P died five years after purchasing a life policy. While investigating the claim, the insurer discovered material misrepresentations made by P during the application process. Which of these actions will the insurer take? - ANSWER-- Beneficiary will be paid the Death Benefit An individual covered under a Group Life insurance policy is considered to be a(n) - ANSWER-- certificate holder What is considered to be a characteristic of a Conditionally Renewable Health Insurance policy? - ANSWER--Premiums may increase at time of renewal Company Z has a Cross Purchase Buy-Sell Agreement in place among its three founding partners. If the agreement is funded with individual life insurance, what would it require? - ANSWER--Each partner must own a policy on the other partners J is 35-years old and looking to purchase a whole life insurance policy. Which of the following types of policies will provide the most rapid growth of cash value? - ANSWER--20-pay Life