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FLORIDA 240 LICENSE EXAM AND PRACTICE
EXAM NEWEST 2025 ACTUAL EXAM
COMPLETE 300 QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS)
|ALREADY GRADED A+
- When does a Guaranteed Insurability Rider allow the insured
to buy additional coverage?THE CORRECT ANSWER is at future dates specified in the contract with no evidence of insurability required
- S would like to use dividends from her life insurance policy
to purchase paid-up additions. All of these would be factors that determine how much coverage can be purchased EXCEPT THE CORRECT ANSWER is beneficiary's age
- When an insurer issues a policy that refuses to cover certain
risks, this is referred to as a(n) THE CORRECT ANSWER is exclusion
- What provision in a life insurance policy states that the
application is considered part of the contract?THE CORRECT ANSWER is Entire Contract provision
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- Which of the following provisions guarantees that premiums
will be waived if a Juvenile Life policyowner becomes disabled?THE CORRECT ANSWER is Payor clause
- Which of these is NOT considered to be a right given to a
policyowner?THE CORRECT ANSWER is Modify a provision in the insurance contract
- How do life insurance companies handle cases where the
insured commits suicide within the contract's stated Contestable period?THE CORRECT ANSWER is Claims are denied under the Suicide clause of the policy
- 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?THE CORRECT ANSWER is Pay face amount minus the past due premium
- In a Life insurance contract, an insurance company's promise
to pay stated benefits is called the
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THE CORRECT ANSWER is Insuring clause
- What does the ownership clause in a life insurance policy
state?THE CORRECT ANSWER is Who the policyowner is and what rights the policyowner is entitled to
- The automatic premium loan provision is designed to
THE CORRECT ANSWER is avoid a policy lapse
- S buys a $50,000 whole life policy with a $50,000
Accidental Death and Dismemberment rider. S dies 1 year later of natural causes. How much will the insurer pay the beneficiary?THE CORRECT ANSWER is $50,000
- An insured is past due on his life insurance premium, but is
still within the Grace Period. What will the beneficiary receive if the insured dies during this Grace Period?THE CORRECT ANSWER is Full face amount minus any past due premiums
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- A provision in a life insurance policy that pays the
policyowner an amount that does not surpass the guaranteed cash value is called the THE CORRECT ANSWER is Policy Loan provision
- The Consideration clause in a life insurance contract
contains what pertinent information?THE CORRECT ANSWER is Amount of premium payments and when they are due
- The incontestable clause allows an insurer to
THE CORRECT ANSWER is contest a claim during the contestable period
- All of these statements about the Waiver of Premium
provision are correct EXCEPT THE CORRECT ANSWER is Insured must be eligible for Social Security disability for claim to be accepted
- Which of the following statements is CORRECT about
accelerated death benefits?THE CORRECT ANSWER is Must have a terminal illness to qualify