Chapter 8 (Health)

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The Bureau of Unclaimed Property is overseen by the

Chief Financial Officer

The Life and Health Insurance Guaranty Association is

funded by admitted insurance companies through assessments

Which action could result in a hearing being ordered by the Department of Financial Services?

Performing insurance transactions without a license

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

Which of the following is an example of an Unfair Trade Practice?


An example of rebating would be

offering a client something of value not stated in the contract in exchange for their business

An example of an unfair claims practice would be

failing to effectuate prompt, fair, and equitable settlements of a claim

Which type of insurance company allows their policyowners to elect a governing body?


Which of the following is considered to be misrepresentation?

An agent guaranteeing a policy’s dividends

An example of false advertising would be

An insurer exaggerating its dividends in a magazine advertisement

Convincing a prospective insured to buy an insurance policy based on exaggerations is called


How can an agent-in-charge have more than one location?

Only if the agent-in-charge is present when insurance activity occurs

In Florida, an insurer domiciled and incorporated in this state is called a(n)

domestic company

Agents that have been licensed for less than six years must complete __ hours of continuing education every two years.


Employers with less than __ employees are affected by Florida’s Health Insurance Coverage Continuation Act (Mini COBRA).


In Florida, an insurer licensed to conduct business in Florida, but domiciled in New Jersey, is called a(n)

foreign company

In order for a domestic, foreign, or alien insurance company to conduct business, it must be authorized by whom?

The state where they are conducting business

In Florida, deceptive advertising is considered to be

a form of misrepresentation

If an agent would like to sell Variable annuities, which state examination must the agent pass?

Life and Variable contracts

According to Florida law, an additional lapse notice must be issued after the standard grace period has expired for policyowners age

64 years or older

Which of the following provisions is NOT required in HMO contracts/certificates?

Seven-day grace period

Who does an agent represent during the solicitation of insurance?

The insurance company

Which of the following is considered an accurate statement of an unfair trade practice?

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

Which of the following is NOT an unfair claim settlement practice?

Needing written documentation of claim details

According to Florida law, a Group Life insurance policy requires a minimum of how many insureds?

No minimum

All of these are a prerequisite for becoming a licensed agent EXCEPT

Graduate from High School

An applicant who pays the initial premium at the time of application is typically given a(n)

conditional receipt

Which of the following situations are NOT subject to Florida life insurance laws?

Insurance companies’ day-to-day operations

K is an agent who made an improper sale of an annuity to a client. Which of the following corrective actions would the Department of Financial Services likely order K to take?

Pay monetary restitution to the client

A licensed agent must be appointed by an insurance company to solicit insurance in Florida. The agent’s license will terminate if a certain period of time elapses without being appointed. How long is this period of time?

48 months

According to Florida law, which of the following statements accurately describes an admitted mail order insurance company?

It may solicit insurance business by mail without the assistance of a licensed agent

The minimum age at which a person can sign a life insurance application is
15 years

15 years

According to Florida law, which of the following information does NOT need to be obtained by an agent recommending an annuity purchase?

Marital status

What are adjustable rates for life policy loans in Florida based on?

Moody’s corporate bond index

What is the required minimum percentage of employee participation for a noncontributory group health insurance plan according to Florida Law?


A Multiple Employer Welfare Arrangement (MEWA) provides what type of benefits?


A mutual insurance company and a stock insurance company have one main difference between them. What is this major contrast?

Stock company is owned by its shareholders. Mutual company is owned by its policyholders.

An agent selling Medicare Supplement policies must provide every applicant with a(n)

Suitability form

A variable life insurance agent must be licensed and appointed as a life and variable contract agent, as well as a(n)

broker dealer

Under Florida law, a variable annuity policyowner must be notified of the accumulated value of the contract

once each year

Which of the following is NOT required in the Outline of Coverage for a health insurance policy?

Projection of the policy’s future costs

A person insured under a health policy is required to give the insurance company a Notice of Claim within how many days after a covered loss?


When is a Group Health policy required to provide coverage for a newborn child?

At the moment of birth

Within how many days after policy delivery can a Medicare Supplement policy be returned for a 100% premium refund?


Nonprofit life insurance providers that are covered by a special section in the Florida insurance code are called

Fraternal life insurance organizations

According to Florida law, group life insurance conversion privileges must NOT

require evidence of insurability

An example of an unfair trade practice is

an agent making a material misrepresentation to the insured

Within how many days must a licensee notify the Department of Financial Services of a change in address?


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

In Florida, what is the maximum percentage of controlled business an agent may produce?


In Florida, a health policy that is paid on a quarterly basis requires a grace period of


Which of the following documents must an agent submit to the replacing insurance company during the replacement of an existing life insurance policy?

Notice to existing and replacing insurers of intention to replace

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

What do families pay that are covered by the Florida Healthy Kids Corporation?

A portion of the premium

During the course of an insurance transaction, if an agent makes a false or incomplete statement, he/she could be found guilty of


The Florida Employee Health Care Access Act was established to make

group health insurance available to employers with up to 50 employees

Florida’s 14-day free-look period for life insurance policies begins at the

date of delivery

Defamation occurs when an agent makes a false statement intended to

malign another insurer

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