Florida Life Insurance State Exam
1. A provision in a life insurance policy that pays the policy owner an amountthat does not
surpass the guaranteed cash value is called the:
Answer: Policy Loan Provision
2. Florida's 14-day free-look period for life insurance policies begins at the
Answer: -date of delivery
3. Under an Interest SensitiveWhole Life policy
Answer: cash values are determined byinterest rate
4. A (n) Life policy combines investment choices with a form of Term cover-age
Answer: Variable Universal
5. Information obtained from a phone conversation to the proposed insuredcan be found in
which part of these reports?
Answer: Inspection Report
6. According to Florida law, group life insurance conversion privileges mustNOT
Answer: require evidence of insurability
7. A Rate of Premium life insurance policy is:
Answer: Whole life and Increasing term
8. What isthe initial source of underwriting for an insurance policy?
Answer: Applicationcontaining statements from the insured
9. Which of the following policies is characterized by a flexible premium and death benefit
and allows the policyowner control of the investment aspect ofthe plan?
Answer: Variable Universal Life
10. S is covered by a whole life policy.Which insurance product can cover hischildren?
Answer: Child term rider
11. Which type of life policy contains a monthly mortality charge as well asself-directed
investment choices?
Answer: Variable Universal Life
12. In order for a domestic, foreign, or alien insurance company to conductbusiness, it must
by whom?
Answer: The state where they are conducting business