1 Florida Insurance Exam / Strategies Review of Key Quizzes & Correct Answers.
Quiz____?The clause identifying which losses resulting from an accident or sickness are
insured by the policy is called the: -
Answer✓✓ Insuring clause
Quiz____?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? - Answer✓✓ Conditional
Quiz____?A life insurance arrangement which circumvents insurable interest statutes is
called: -
Answer✓✓ Investor-Originated Life Insurance
Quiz____? 1 / 4
2 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? - Answer✓✓ Entire Contract
Quiz____?Within how many days after policy delivery can a Medicare Supplement policy be returned for a 100% premium refund? - Answer✓✓ 30
Quiz____?Which of the following is NOT an unfair claim settlement practice? - Answer✓✓ Needing written documentation of claim details
Quiz____?Who is NOT required to sign a life insurance application? - Answer✓✓ Beneficiary
Quiz____?To be eligible for Social Security disability benefits, an employee must be unable
to perform: -
Answer✓✓ 2 / 4
3 any occupation
Quiz____?The type of annuity that can be purchased with one monetary deposit is called
a(n): -
Answer✓✓ Immediate annuity
Quiz____?
A life insurance application must be signed by all of these, EXCEPT: -
Answer✓✓ beneficiary
Quiz____?Which of the following is considered an accurate statement of an unfair trade practice? - 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
Quiz____?The Accelerated Death Benefit provision in a life insurance policy is also known
as a(n): -
Answer✓✓ Living Benefit 3 / 4
4
Quiz____?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? - Answer✓✓ Carryover provision
Quiz____?Insurance policies are considered aleatory contracts because - Answer✓✓ performance is conditioned upon a future occurrence
Quiz____?Within how many days must a licensee notify the Department of Financial Services of a change in address? - Answer✓✓ 30
Quiz____?Which organization was established to provide funds to protect an insured in the event of an insurer's insolvency? - Answer✓✓ Florida Life and Health Insurance Guaranty Association
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