FLORIDA LIFE AND HEALTH 2-15 FINAL EXAM 300+ QUESTIONS AND CORRECT DETAILED ANSWERS 2023-2024 UPDATE ALREADY A GRADED VERIFID BY EXPERTS
The COBRA
... [Show More] gives workers (and their families) whose employment has been terminated the right to... CORRECT ANSWER Continue group health benefits
Under Florida law, which of the following provisions is NOT required in a Medicare Supplement policy? CORRECT ANSWER Limitation on pre-existing conditions for up to 12 months.
What are adjustable rates for life policy loans in Florida based on? -CORRECT ANSWER Moody's corporate bond index
A policyowner's rights are limited under which beneficiary designation? -CORRECT ANSWER Irrevocable
A trustee-to-trustee transfer or rollover funds in a qualified plan allows a participant to avoid: -CORRECT ANSWER Mandatory income tax withholding on the transfer amount.
J is an agent who has induced an insured through misrepresentation to surrender an existing insurance policy. What is J guilty of? -CORRECT ANSWER Twisted (got me twisted)
Who's life is covered on a life insurance policy that contains a payor benefit clause? -CORRECT ANSWER Child
Which of the following annuities pays benefits based on units rather that specific dollar amounts CORRECT ANSWER A Variable annuity
the USA Patriot Act was enacted in -CORRECT ANSWER 2001
Which of the following factors affect the amount of monthly disability benefits payable under social security? -CORRECT ANSWER The THE AMOUNT OF BENEFITS AVAILABLE from other sources
Which of these types of coverage is best described as a short term medical policy -CORRECT ANSWER INTERIM coverage
Which of the following provisions specifies how long a policy owner's health coverage will remain in effect if the policy owner does not pay the premium when it is due? -CORRECT ANSWER Grace period
As a condition for a loan, a bank requires the borrower to purchase credit insurance from a specific company. What is the bank guilty of? -CORRECT ANSWER Coercion
What type of rider would be added to an Accident and Health Policy if the policy owner wants to ensure the policy will continue if he/she ever becomes totally disabled? -CORRECT ANSWER Waiver of Premium Rider
A physician opens up a new practice and qualifies for a $7,000/monthly Disability income policy. What rider would the physician add if he wants the ability to increase his policy benefits as his practice and income grow? -CORRECT ANSWER Guaranteed insurability option rider
A Disability Income policyowner suffers a disability which was due to the same cause as a previous disability. Both disabilities occurred within a five-month period. The insurer may cover the second disability without a new elimination period under the: -CORRECT ANSWER Recurrent disability provision
What is the purpose of the Life and Health Insurance Guaranty Association? -CORRECT ANSWER Protect policy owners against insolvent insurance companies
In Florida, which of the following practitioners normally do NOT receive payment from health insurance policies? -CORRECT ANSWER Naturopaths
S would like to use dividends from her life insurance policy to purchase paid-up additions. All of these would be factors that determine how much coverage can be purchased EXCEPT -CORRECT ANSWER S's attained age
In regards to representations or warranties which of these statements is true -CORRECT ANSWER if materialto the Risk, false representation will void the policy
Which of these action should be a producer take went to submitting and insurance application to an insurer? -CORRECT ANSWER Inform insure relevant information not included on the application
An immediate annuity consist of a: -CORRECT ANSWER Single premium
A life insurance application must be signed by all of these except -CORRECT ANSWER The beneficiary (kid)
Additional coverage can be added to a whole life policy by adding a(n): -CORRECT ANSWER Decreasing term rider
Under what system do a group of doctors and hospitals in a designated area contact with an insurer to provide any service to a prearrange cost to the insured -CORRECT ANSWER PPO
W is a 39-year-old female who just purchased an annuity to provide income for life starting at age 60. All of these would be acceptable annuity choices except -CORRECT ANSWER Immediate annuity
Florida 14 day free look period for life insurance policy begins at the -CORRECT ANSWER Date of delivery [Show Less]