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FLORIDA HEALTH AND LIFE INSURANCE
EXAM A & B ALL QUESTIONS AND CORRECT
ANSWERS VERIFIED 2024-2025 ALREADY
GRADED A| EXCELLENT TOOL FOR LIFE AND
HEALTH INSURANCE STUDY
FLORIDA HEALTH AND LIFE INSURANCE EXAM A
K, age 45, and his wife, age 43, have three children. They purchase a Family Policy that covers K's wife to age 65. All of these situations will pay a death benefit EXCEPT - ANSWER-K's wife dies at age 66
A variable insurance policy: - ANSWER-does not guarantee a return on investment accounts
K is looking to purchase Renewable Term insurance. Which of these types of Term insurance may be renewable - ANSWER-Level
What type of life insurance gives the greatest amount of coverage for a limited period of time?
- ANSWER-Term life
Which is true concerning a Variable Universal Life policy? - ANSWER-Policy-owner controls where the investment will go and selects the amount of the premium payment
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2 T would like to be assured $10,000 is available in 10 years to replace a roof on his house. What kind of $10,000 policy should T purchase - ANSWER-Ten-Year endowment
Which of the following types of Term Life policies most likely contains a Renewability feature? - ANSWER-10 year convertible term
A life insurance policy that provides a policy-owner with cash value along with a level face
amount is called: - ANSWER-Whole life
All of these insurance products require an agent to have proper FINRA securities registration in
order to sell them, EXCEPT for: - ANSWER-Modified Whole Life
G purchased a Family Income policy at age 40. The policy has a 20-year rider period. If G were to die at age 50, how long would G's family receive an income? - ANSWER-10 years
Life insurance that covers an insured's whole life with level premiums paid over a limited time is
called: - ANSWER-Limited Pay Life
The amount of coverage on a group credit life policy is limited to: - ANSWER-the insured's total loan value
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3 What advantage does the renewability feature give to a term policy? - ANSWER-The insured may extend the coverage period
K pays on a $20,000 20 -Year Endowment policy for 10 years and dies from an automobile accident. How much will the insurance company pay the beneficiary? - ANSWER-$20,000 death benefit
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
Additional coverage can be added to a Whole Life policy by adding a(n): - ANSWER-Decreasing term rider
Under a Graded premium Whole life policy, - ANSWER-the premium decreases each year during the early years of the contract and remains the same after that time
A company that owns a life insurance policy on one of its key employees may do all of the following EXCEPT - ANSWER-Change the policy's interest rate
Which of these types of life insurance allows the policyowner to have level premiums and to also choose from a selection of investment options? - ANSWER-Variable Life 3 / 4
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Stranger-Owned Life Insurance (STOLI) is when a person purchases life insurance only to sell to
a(n): - ANSWER-third-party with no insurable interest
Which of these life products is NOT considered interest-sensitive? - ANSWER-Modified Whole Life
N is a 40-year old applicant who would like to retire at age 70. He is looking to buy a life insurance policy with level premiums, permanent protection, and be paid-up at retirement.Which of these should N purchase? - ANSWER-30 Pay Life
What kind of premium does a Whole Life policy have? - ANSWER-level
An architecture firm would stand to lose a lot of money in the event of the death of its project manager. Which type of policy should the firm purchase on its project manager? - ANSWER-Key person insurance
Whole Life insurance policies are contractually guaranteed to provide each of the following EXCEPT - ANSWER-partial withdrawal features beyond a surrender charge period
Term insurance has which of the following characrteristcs? - ANSWER-Expires at the end of the policy period
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