Xcel 2-15 Florida Life & Health State Exam Simulator Already Passed
Question : what is considered to be a characteristic of an
immediate annuity
CORRECT ANSWER : benefit payments start within one
payment period of purchase
Question : which of these characteristics is consistent with a
straight life policy
CORRECT ANSWER : premiums are payable for as long as
there is insurance coverage in force
Question : an insureds inability to perform two or more
activities of daily living may trigger which type of life policy rider
CORRECT ANSWER : long term care
Question : B recently died and was insured with a life
insurance policy for over five years. During the claims process, the insurer discovered that B had understated his age
by 5 years at the time of application. In this situation, the insurer will
CORRECT ANSWER : pay the amount that the premium
would have purchased at the correct age
Question : what action can a policyowner take if an
application for a bank loan requires collateral
CORRECT ANSWER : assign policy ownership to the bank
Question : what is required in the Florida Employee Health
Care Access Act
CORRECT ANSWER : small group benefit plans are to be
issued on a guarantee issue basis
Question : P is a forty year old woman and would like to
purchase an annuity that will provide a lifetime income stream beginning at age sixty. Which of the following did she NOT buy?
CORRECT ANSWER : an immediate annuity
Question : the situation in which a group of physicians are
salaried employees and conduct business in an hmo facility is called
CORRECT ANSWER : closed panel
Question : T sends proof of loss to her insurer for an
acceptable medical expense claim under her individual Health Insurance policy. Upon receipt, the insurer must pay the benefits
CORRECT ANSWER : immediately
Question : an application for medicare supplement coverage
may not be denied by the insurer if the application was submitted within ______ month(s) after the applicant reaches the age 65
CORRECT ANSWER : six
Question : when a policyowner cash surrenders a universal
life insurance policy in its early years, this may be considered a red flag for a(n)
CORRECT ANSWER : anti money laundering violation
Question : When is a Group Health policy required to provide
coverage for a newborn child?
CORRECT ANSWER : at the moment of birth
Question : which of the following situations does not apply to
the florida replacement rule
CORRECT ANSWER : an existing policyholder purchases
an additional policy from the same insurer
Question : under a renewable term policy
CORRECT ANSWER : the renewal premium is calculated
on the basis of the insured's attained age
Question : D owns a Whole Life policy that was purchased 10
years ago. If the premium payments suddenly stop and D takes no additional action, which Nonforfeiture Option will the insurer likely proceed with?