|
In Florida, what is the maximum percentage of controlled business an agent may produce? |
50% |
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Which Unfair Trade Practice involves an agent telling a prospective client that a policy’s dividends are guaranteed? |
Misrepresentation |
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In Florida, the underwriting and issuance of a master group health policy requires that all employees |
are eligible to participate, regardless of their individual health history |
|
An agent’s license can be suspended or revoked by |
writing primarily controlled business |
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Under Florida law, which of the following provisions is NOT required in a Medicare Supplement policy? |
Limitation on pre-existing conditions for up to 12 months |
|
Which Unfair Trade Practice involves making a false statement on an insurance application in order to receive money from an insurer? |
Misrepresentation |
|
During the application process, the agent’s primary responsibility is to |
the insurance company |
|
Defamation occurs when an agent makes a false statement intended to |
malign another insurer |
|
An agent selling Medicare Supplement policies must provide every applicant with a(n) |
Suitability form |
|
The minimum age at which a person can sign a life insurance application is |
15 years |
|
According to Florida law, when must an agent deliver the Outline of Coverage to a Medicare Supplement applicant? |
At the time of application |
|
A variable life insurance agent must be licensed and appointed as a life and variable contract agent, as well as a(n) |
broker dealer |
|
The coordination of benefits (COB) provision exists in order to |
avoid duplication of benefit payments |
|
A stock insurance company |
is owned exclusively by its shareholders |
|
In Florida, most life insurance policies have a contestability period of |
2 years |
|
Within how many days must a licensee notify the Department of Financial Services of a change in address? |
30 |
|
What do families pay that are covered by the Florida Healthy Kids Corporation? |
A portion of the premium |
|
What percentage of eligible persons must a policy cover in a noncontributory group? |
100% |
|
W gave W’s age as 50 when W purchased a Life policy. At the time of W’s death seven years later, the company discovered W’s true age at issue had been 59. What would the normal procedure be under the misstatement of age provision in regard to the payment of the death claim? |
The proceeds would be reduced based on whatever the premium would have been if purchased at age 59 |
|
In Florida, when agents recommend changes be made for existing coverage, the agent must follow established procedures. The name of this rule is called the |
Florida Replacement Rule |
|
S takes out a health insurance policy which contains a provision that states that the agent does not have the authority to change the policy or waive any of its provisions. Which health policy provision is this? |
Entire Contract |
|
J owns a business and has a Group Life policy covering her employees. J decides to cancel the policy by letting it lapse on the renewal date. What action must be taken? |
All of the employees must be notified of the cancellation either by the insurance company or through J |
|
In Florida, an element of an insurance transaction would be |
issuing an insurance contract |
|
Under an Individual Disability policy in Florida, what is the minimum schedule of time in which claims must be made to an insured? |
Monthly |
|
Upon reaching the limiting age, a handicapped child can extend their health insurance coverage as a dependent |
only if the child is incapable of employment and chiefly dependent on the policyowner |
|
A life insurance policyowner may sell their policy to a(n) _____ in order to receive a percentage of the policy’s face value. |
viatical settlement provider |
|
In Florida, monthly-premium health insurance policies must provide a grace period of at least |
10 days |
|
When replacing or exchanging an annuity, the agent must disclose to the annuitant |
the possible tax ramifications as a result of the transaction |
|
How many hours of continuing education must a newly licensed agent complete every two years? |
24 |
|
What is required in the Florida Employee Health Care Access Act? |
Small group benefit plans are to be issued on a "guarantee-issue" basis |
|
The Florida Employee Health Care Access Act was established to make |
group health insurance available to employers with up to 50 employees |
|
All of the following will result in the suspension of an agent’s license EXCEPT |
acting with fiduciary responsibility |
|
In Florida, deceptive advertising is considered to be |
a form of misrepresentation |
|
According to Florida’s life insurance replacement laws, a policyowner must be provided with a written Comparison and Summary Statement when it’s requested by |
the policyowner |
|
All of the following are eligibility requirements for an association group EXCEPT |
Contributory plans require a minimum of 25 participants |
|
Group Life policies in Florida are required to contain a conversion privilege that allows for conversion |
to an individual policy for a stated period of time |
|
Which of the following is NOT required in the Outline of Coverage for a health insurance policy? |
Projection of the policy’s future costs |
|
An individual covered under a Group Life insurance policy is considered to be a(n) |
certificate holder |
|
Florida’s 14-day free-look period for life insurance policies begins at the |
date of delivery |
|
Which of the following employer tasks does a Professional Employer Organization normally handle? |
Administration tasks |
|
Florida requires that coverage for newborns begins "from the moment of birth" and continues for |
18 months |
|
Which of the following situations are NOT subject to Florida life insurance laws? |
Insurance companies’ day-to-day operations |
|
An example of sliding would be |
charging for an additional product without the applicant’s consent |
|
Employers with less than __ employees are affected by Florida’s Health Insurance Coverage Continuation Act (Mini COBRA). |
20 |
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An insurance company can contest a life insurance contract due to application fraud within |
2 years |
|
The Life and Health Insurance Guaranty Association is |
funded by admitted insurance companies through assessments |
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Which of these is NOT a legal entity for selling life insurance in Florida? |
Risk management advisers |
|
An example of an unfair trade practice is |
an agent making a material misrepresentation to the insured |
|
All of the following are Nonforfeiture Options EXCEPT |
Automatic Premium Loan Option |
|
What is Florida’s definition of Life insurance replacement? |
A transaction in which a new policy is bought and an old policy is terminated |
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