FLORIDA HEALTH AND LIFE INSURANCE STATE EXAM

PDF Download

FLORIDA HEALTH AND LIFE INSURANCE STATE EXAM

PRACTICE PART 1

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

-Format: Multiple-choice / Flashcard

Question 1: How does group insurance differ from individual insurance?

Answer:

Premiums are Lower

Question 2: When is the face amount of a Whole Life policy paid?

Answer:

When the insured dies or at the policy's maturity date, whichever happens first Question 3: Which of the following factors affects the amount of monthly disability benefits payable under Social Security?

Answer:

The amount of benefits availible from other sources

Question 4: The insuring Clause

Answer:

States the scope and limits of the coverage

Question 5: The federal income tax treatment of employer-provided group Medical Expense

insurance can be accurately described as:

Answer:

Employee's premiums paid by the employer is tax-deductible to the employer as a business expenditure Premiums paid by an employer for an employee's coverage are deductible by the employer as a buisness expense Question 6: G is involved in an automobile accident as a result of driving while intoxicated and suffers numerous injuries. According to the Intoxicants and Narcotics exclusion in G's policy, who is responsible for paying the medical bills?

Answer:

The insured Question 7: When applied to Whole Life insurance, the word "straight" denotes:

Answer:

the duration of premium payments Question 8: Within how many days after policy delivery can a Medicare Supplement policy be returned for a 100% premium refund?

Answer:

30 Question 9: As a condition for a loan, a bank requires the borrower to purchase credit insurance from a specific company. What is the bank guilty of?

Answer:

Coercion Question 10: The guarantee of insurability option provides a long-term care policyowner the

ability to:

Answer:

buy additional coverage at a later date Question 11: In Florida, most life insurance policies have a contestability period of

Answer:

• Years

Question 12: Which of the following characteristics is associated with a large group disability income policy?

Answer:

No medical underwritting Question 13: W gave W's age as 50 when W purchased a Life policy. At the time of W's death seven years later, the company discovered W's true age at issue had been 59. What would the normal procedure be under the misstatement of age provision in regard to the payment of the death claim?

Answer:

The proceeds would be reduced based on whatever the premium would have been if purchased at age 59 Question 14: Health insurance benefits NOT covered due to an act of war are:

Answer:

excluded by the insurer in the contract provisions Question 15: Which of the following situations does NOT apply to the Florida Replacement Rule?

Answer:

An existing policyholder purchases an additional policy from the same insurer Question 16: The premiums paid by an employer for his employee's group life insurance are

usually considered to be:

Answer:

Tax deductible to the employer

Question 17: Which of these is considered a mandatory provision?

Answer:

Payment of Claims Question 18: Which of the following statements is true about most Blue Cross/Blue Shield organizations?

Answer:

They are non-profit organizations

Question 19: Which of the following is NOT considered rebating

Answer:

Sharing commissions with an agent licensed in the same line of buisness

Question 20: Which of these would be considered a Limited-Pay Life policy?

Answer:

Life Paid-Up at age 70 Question 21: Which of the following statements BEST describes dental care indemnity coverage?

Answer:

Services are reimbursed after insurer receives the invoice Question 22: If its employees share in the cost of insurance, what type of group life insurance plan would a corporation have?

Answer:

contributory Question 23: What type of rider would be added to an Accident and Health policy if the policyowner wants to ensure the policy will continue if he/she ever becomes totally disabled?

Answer:

Waiver of Premium Rider Question 24: Upon delivery of a rated life insurance policy, the Producer must obtain each of the

following, EXCEPT:

Answer:

Signed HIPAA disclosure Question 25: When an insured changes to a more hazardous occupation, which disability policy provision allows an insurer to adjust policy benefits and rates?

Answer:

Change of Occupation Provision