Florida Insurance Exam 150 Questions and Answers 100% Verified Rated A+ 2023/2024 The clause identifying which losses resulting from an accident or sickness are insured
by the policy is called the: - Correct Answer Insuring clause
K applies for a life insurance policy on herself and submits the initial premium with the application. She is given a receipt by the agent stating that coverage begins immediately if the application is approved. What kind of receipt was used? - Correct Answer Conditional A life insurance arrangement which circumvents insurable interest statutes is called: - Correct Answer Investor-Originated Life Insurance Which of the following health policy provisions states that the producer does NOT have the authority to change the policy or waive any of its provisions? - Correct Answer Entire Contract Within how many days after policy delivery can a Medicare Supplement policy be returned for a 100% premium refund? - Correct Answer 30 Which of the following is NOT an unfair claim settlement practice? - Correct Answer Needing written documentation of claim details Who is NOT required to sign a life insurance application? - Correct Answer Beneficiary To be eligible for Social Security disability benefits, an employee must be unable to
perform: - Correct Answer any occupation
The type of annuity that can be purchased with one monetary deposit is called a(n): - Correct Answer Immediate annuity A life insurance application must be signed by all of these, EXCEPT: - Correct Answer beneficiary Which of the following is considered an accurate statement of an unfair trade practice? - Correct Answer Twisting involves an agent using misrepresentation to convince a policyowner to cancel their current policy so that they can purchase a new life insurance policy with another company The Accelerated Death Benefit provision in a life insurance policy is also known as a(n):
- Correct Answer Living Benefit
Which of the following policy features allows an insured to defer current health charges to the following year's deductible instead of the current year's deducitble? - Correct Answer Carryover provision 1 / 2
Insurance policies are considered aleatory contracts because - Correct Answer performance is conditioned upon a future occurrence Within how many days must a licensee notify the Department of Financial Services of a change in address? - Correct Answer 30 Which organization was established to provide funds to protect an insured in the event of an insurer's insolvency? - Correct Answer Florida Life and Health Insurance Guaranty Association The clause in an Accident and Health policy which defines the benefit amounts the
insurer will pay is called the: - Correct Answer Insuring clause
When a policyowner cash surrenders a Universal Life insurance policy in it's early
years, this may be considered a red flag for a(n): - Correct Answer Anti-Money
Laundering violation According to the Time Payment of Claims provision, the insurer must pay Disability Income benefits no less frequently than which of the following options? - Correct Answer Monthly What would the Medical Information Bureau (MIB) identify? - Correct Answer Testing positive for marijuana use from a previous screening 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 Under a Renewable Term policy, - Correct Answer the renewal premium is calculated on the basis of the insured's attained age Which of the following statements is true about most Blue Cross/Blue Shield organizations? - Correct Answer They are nonprofit organizations If a policyowner does not pay the premium by the due date, the - Correct Answer policyowner can make the premium payment during the grace period According to Florida law, which of the following information does NOT need to be obtained by an agent recommending an annuity purchase? - Correct Answer Marital status 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
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