XCEL 2-15 FLORIDA LIFE HEALTH STATE EXAM

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SIMULATOR EXAM QUESTIONS

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

-Format: Multiple-choice / Flashcard

Question 1: all individuals under a group contract will receive a(n)

Answer:

certificate Question 2: who is normally considered to be the owner of a 403(b) tax sheltered annuity

Answer:

the employee

Question 3: what is considered to be a characteristic of an immediate annuity

Answer:

benefit payments start within one payment period of purchase Question 4: a primary beneficiary has died before the insured in a life insurance policy. a contingent beneficiary is also named in the policy. which of the following will occur when the insured dies

Answer:

proceeds will go to the contingent beneficiary

Question 5: all of these statements about equity indexed life insurance are correct except

Answer:

the premiums can be lowered or raised, based on investment performance Question 6: P is an employee who quits her job and wants to convert her group health coverage to an individual policy. After the expiration of COBRA laws, which of the following statements is TRUE?

Answer:

she does need to provide evidence of insurability

Question 7: which of the following is not an unfair claim settlement practice

Answer:

needing written documentation of claim details Question 8: With a medical discount plan, how often would a person generally pay a fee to get discounts on specific services?

Answer:

monthly

Question 9: a health reimbursement arrangement must be established

Answer:

by the employer Question 10: which of these characteristics is consistent with a straight life policy

Answer:

premiums are payable for as long as there is insurance coverage in force Question 11: Which required disclosure helps a buyer choose the amount and type of insurance to buy, and how to save money by comparing the cost of similar policies?

Answer:

buyers guide Question 12: information obtained from a phone conversation to the proposed insured can be found in which of these reports

Answer:

inspection report

Question 13: which of these are not an example of a nonforfeiture option

Answer:

life income Question 14: a policyowners rights are limited under which beneficiary designation

Answer:

irrevocable Question 15: a policyowner may generate taxable income from which of the following dividend options

Answer:

accumulation at interest Question 16: Disability policies do NOT normally pay for disabilities arising from which of the following?

Answer:

war

Question 17: which entity approves the insurance policy forms used in florida

Answer:

office of insurance regulation (oir) Question 18: How would a contingent beneficiary receive the policy proceeds in an Accidental Death and Dismemberment (AD&D) policy?

Answer:

if the primary beneficiary dies before the insured Question 19: a sole proprietor may use this plan only if the employees of this business are included

Answer:

keogh pension plan Question 20: Y purchased $100,000 worth of permanent protection on himself and $50,000 worth of 10-year Term coverage for his wife on the same policy. Which of these policies did Y purchase?

Answer:

whole life policy with an other insured rider

Question 21: according to florida law, which of the following information does not need to be obtained by an agent recommending an annuity purchase

Answer:

marital status Question 22: when a policyowner cash surrenders a universal life insurance policy in its early years, this may be considered a red flag for a(n)

Answer:

anti money laundering violation Question 23: 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 Question 24: Bryce purchased a disability income policy with a rider that guarantees him the option of purchasing additional amounts of coverage at predetermined times without requiring to provide evidence of insurability. What kind of rider is this?

Answer:

guaranteed insurability rider

Question 25: what is the purpose of the insurance guaranty fund association

Answer:

protects policyowners against insolvent insurance companies

Question 26: which of these is a true statement regarding medicaid

Answer:

funded by both state and federal governments Question 27: upon reaching the limiting age, a disabled child may extend their health insurance coverage as a dependent

Answer:

only if the child is incapable of employment and chiefly dependent on the policyowner