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Florida Life and Health Insurance / Complete Questions & Correct Detailed Answers (100% Correct) 2025 / 2026.
Quiz____?Insured - Answer✓✓ The person covered by the insurance policy.
Quiz____?Rider - Answer✓✓ A written modification attached to a policy that increases or decreases coverage and/or premiums.
Quiz____?What is a unilateral contract? - Answer✓✓ A contract in which only one of the parties is legally bound to fulfill its obligations.
Quiz____?What law protects consumers from the circulation of inaccurate or obsolete information? - 1 / 4
2 Answer✓✓ The Fair Credit Reporting Act.
Quiz____?What are the three types of agent authority? - Answer✓✓ Implied, Express, and Apparent.
Quiz____?Agent - Answer✓✓ An individual who is licensed to sell, negotiate, or effect insurance contracts on behalf of the insurer.
Quiz____?What is name of the process that insurance companies use to determine whether or not an applicant is insurable? - Answer✓✓ Underwriting
Quiz____?The requirement that agents must account for and promptly remit all insurance funds collected is known as what type of agent responsibility? - Answer✓✓ 2 / 4
3 Fiduciary
Quiz____?What is a third-party ownership? - Answer✓✓ An insurance arrangement in which the policy owner and the insured are not the same person.
Quiz____?Suitability - Answer✓✓ Factors that determine if an insurance product is appropriate for a particular customer.
Quiz____?Premium - Answer✓✓ A payment by the policy owner to the insurance company to keep the policy in force.
Quiz____?Disclosure - Answer✓✓ Providing sufficient information to help someone make informed decision.
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4 Quiz____?An agent offer a client free tickets to a sporting event in exchange for the purchase of an insurance policy. What is the agent guilty of? - Answer✓✓ Rebating
Quiz____?If an insurer meets the states financial requirements and is approved to transact business in the state, it is considered what type of insurer? - Answer✓✓ Authorized
Quiz____?What information are the members of the medical information bureau required to report?- Answer✓✓ Adverse medical information about the applicants or insureds.
Quiz____?What type of beneficiary can be changed at any point by the policy owner? - Answer✓✓ Revocable
Quiz____?What document describes the specific information about a policy? -
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