- | P a g e
FLORIDA 240 LICENSE EXAM AND PRACTICE
EXAM NEWEST 2024 ACTUAL EXAM
COMPLETE 300 QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS )
|ALREADY GRADED A+
FLORIDA 240 LICENSE EXAM
A Business Overhead Expense policy would cover which of the following if a business owner becomes disabled? - CORRECT ANSWER-Utilities and office rent
What is issued to each employee of an employer health plan? - CORRECT ANSWER -certificate
The benefits under a Disability Buy-Out policy are - CORRECT ANSWER-payable to the company or another shareholder
A policy owner would like to change the beneficiary on a Life insurance policy and make the change permanent. Which type of designation would fulfill this need? - CORRECT ANSWER - irrevocable
- / 4
- | P a g e
Which contract permits the remaining partners to buy-out the interest of a disabled business partner? - CORRECT ANSWER - Disability Buy-Sell
T and S are named co-primary beneficiaries on a $500,000 Accidental Death and Dismemberment policy insuring their father. Their mother was named contingent beneficiary. 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
Which of the following medical expenses does Cancer insurance NOT cover? - CORRECT ANSWER -arthritis
The difference between group insurance and blanket health
policies is: - CORRECT ANSWER -Blanket health policies do
not issue certificates
Which type of policy would pay an employee's salary if the employer was injured in a bicycle accident and out of work for six weeks? - CORRECT ANSWER -Business Overhead Expense
On an Accidental Death and Dismemberment (AD&D) insurance policy, who is qualified to change the beneficiary designation? - CORRECT ANSWER -Policyowner 2 / 4
- | P a g e
The Consolidated Omnibus Budget Reconciliation Act (COBRA) gives workers (and their families) whose employment
has been terminated the right to: - CORRECT ANSWER -
continue group health benefits
K is the insured and P is the sole beneficiary on an Accidental Death and Dismemberment (AD&D) insurance policy. Both are involved in a fatal accident where K dies before P. Under the Common Disaster provision, which of these statements is true? - CORRECT ANSWER-Proceeds will be paid to P's estate
How would a contingent beneficiary receive the policy proceeds in an Accidental Death and Dismemberment (AD&D) policy? - CORRECT ANSWER -If the primary beneficiary dies before the insured
Which mode of payment is NOT used by health insurance policies? - CORRECT ANSWER -Single Premium
G is an accountant who has ten employees and is concerned about how the business would survive financially if G became disabled. The type of policy which BEST addresses this concern is - CORRECT ANSWER -Business Overhead Expense
- / 4
- | P a g e
Which of the following is the reimbursement of benefits for the treatment of a beneficiary's injuries caused by a third party? - CORRECT ANSWER -Subrogation
S is employed by a large corporation that provides group health coverage for its employees and their dependents. If S dies, the company must allow his surviving spouse and dependents to continue their group health coverage for a maximum of how many months under COBRA regulations? - CORRECT
ANSWER-36
When an employee is required to pay a portion of the premium for an employer/employee group health plan, the employee is covered under which of the following plans? - CORRECT ANSWER-contributory
Which of these circumstances is a Business Disability Buy-Sell policy designed to help in the sale of a business? - CORRECT ANSWER-Business owner becoming disabled
An accident policy will most likely pay a benefit for a(n) - CORRECT ANSWER -off-the-job accident
An insurance company would MOST likely pay benefits under an Accidental Death and Dismemberment policy for which of
- / 4