Florida Health Insurance Exam 4

Florida Health Insurance Exam 4
1. the receipt given to a life insurance applicant when the application iscompleted
and the initial premium is recieved is called an
Insurable Receipt
Conditional receipt
unconditional receipt
ensuring receipt
Answer: conditional receipt
2. Statements in the app that are believed to be true
warranties
representations
waivers
ambiguities
Answer: warranties
3. All of the following apply to the waiver of premium EXCEPT
the premium is waived only if the insured is permanently disabled. there is a
waiting period of 6 months before the premium is waived.
the company continuesthe policy in force asif the premiums were being paid.there is no
charge for this rider.
Answer: there is no charge for this rider
4. An annuity is considered fixed when it does all of the following EXCEPT
guarantees a minimum rate of return
provides level income payments
pays a specified dollar amount for each annuity benefit payment provides the
annuitant with either the guaranteed or current interest rate,
whichever is less
Answer: provides the annuitant with either the guaranteed or currentinterest rate,
whichever is less
5. The most common type of whole life insurance where premiums are payableover the
whole life of the insured to age 100 is called