Florida 2-15 Insurance License Exam |150 Questions and Answers 2023/2024

Florida 2-15 Insurance License Exam

1

Florida 2-15 Insurance License Exam

|150 Questions and Answers 2023/2024

An insurance clause is a distinct article in a formal document that establishes the

rules in the contract that _____________________ must adhere to. (Correct Ans: - both

the insurer and the insured

"ACC" refers to the type of disability that prevents someone from performing the

job he was performing prior to the disability. (Correct Ans: - FALSE

Which statement is CORRECT about the Department of Financial Services' right to

examine an agent's records? (Correct Ans: - An examination can be conducted at

any time to discover any unfair trade practices.

Bill gives Jim a couple of tickets to a Florida Gators game to thank him for

purchasing a policy. This is an example of: (Correct Ans: - rebating

____________ term insurance provides a level amount of protection for a specified

period, after which the policy expires. (Correct Ans: - Level

Business overhead expense (B.O.E.) insurance does not provide benefits to cover the

business owner's salary. (Correct Ans: - TRUE

Level, decreasing, and increasing insurance are all basic forms of ____________

insurance. (Correct Ans: - term

Hospice services are covered under Medicare Part A. (Correct Ans: - TRUE

Under Florida law, group health insurers must offer mental and nervous disorder

insurance to policyowners. (Correct Ans: - TRUE

Deductibles under a group major medical plan usually run from $250 to $500;

whereas individual health plans usually run from: (Correct Ans: - $1,000 plus.

Florida 2-15 Insurance License Exam

2

Every HMO subscriber must receive a benefits package that includes a copy of the

HMO contract and certificate, and: (Correct Ans: - a member's handbook.

A life insurance policy will not be reinstated if it has been: (Correct Ans: -

surrendered for its cash value.

Which of the following is NOT a type of permanent life insurance? (Correct Ans: -

Term Life

In Florida, a ______________ must sign for and on behalf of a minor purchasing life

insurance. (Correct Ans: - parent or legal guardian

When an agent spreads a false story that damages a competing agent's reputation,

the offense is called: (Correct Ans: - defamation

__________ is when policy values of an insurance policy are used to purchase

another policy with the same insurer for the sole purpose of earning additional

premiums or commissions. (Correct Ans: - Churning

Once an organization has filed an application to conduct insurance business, the

Office of Insurance Regulation will begin its review for issuing a(n): (Correct Ans: -

Certificate of Authority

Florida law requires health insurance policies and HMO contracts to provide

coverage for all medically necessary equipment, supplies and services used to treat

diabetes when the patient's physician certifies that they are medically necessary.

(Correct Ans: - TRUE

If an insurance company reimburses the insured for medical expenses, can the

insured deduct that amount from their federal income tax? (Correct Ans: - NO

Which of the following is NOT a benefit to key person insurance? (Correct Ans: -

Wage control

The "currently insured" classification under Social Security limits survivorship

benefits. In order to be eligible for Social Security survivor benefits, a person must

have earned _________________ period ending with the quarter in which the worker

died. (Correct Ans: - six credits during the 13-quarter