FLORIDA INSURANCE EXAM COMPLETE STUDY QUESTIONS WITH ACCURATE VERIFIED SOLUTIONS GUARANTEED PASS | RATED A+

FLORIDA INSURANCE EXAM COMPLETE STUDY QUESTIONS WITH ACCURATE VERIFIED SOLUTIONS GUARANTEED PASS | RATED A+

On January 8, an applicant filled out an application for a life insurance policy but did not include
the initial premium. The insurance company approved the application on January 14 and issued
the policy January 15. The producer delivered the policy on January 26 and collected the first
premium. When did the coverage become effective? - correct answer ✔✔January 26
When an insured has the same disability within a specified time period and the insurance
company provides the same benefits without a new waiting period, the second disability is
covered under which of the following benefits? - correct answer ✔✔Recurrent Disability
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: - correct answer ✔✔marital
deduction
Whole Life insurance policies are contractually guaranteed to provide each of the following,
EXCEPT: - correct answer ✔✔partial withdrawal features beyond a surrender charge period
All of the following statements about traditional individual retirement accounts are false
EXCEPT - correct answer ✔✔10% penalty is applied to withdrawals before age 59 1/2
A licensed agent must be appointed by an insurance company to solicit insurance in Florida. The
agent's license will terminate if a certain period of time elapses without being appointed. How
long is this period of time? - correct answer ✔✔48 months
Which of the following statements regarding a Tax Sheltered Annuity (TSA) is INCORRECT? -
correct answer ✔✔The income from the TSA is received income tax-free
How are surrender charges deducted in a life policy with a rear-end loaded provision? - correct
answer ✔✔Deducted when the policy is discontinued
What is Florida's definition of Life insurance replacement? - correct answer ✔✔A transaction in
which a new policy is bought and an old policy is terminated
Five years later, S dies of natural causes and the father is killed in a scuba accident shortly
afterwards. How much of the death benefit will the mother receive? - correct answer ✔✔$0
M had an annual life insurance premium payment due January 1. She died January 10 without
making the premium payment. What action will the insurer take? - correct answer ✔✔Pay face
amount minus the past due premium