Chapter 8 (Health) Chap Exam

according to florida law, when must an agent deliver the outline of coverage to a medicare supplement applicant?

At the time of application

what is the required minimum percentage of employee participation for a noncontributory group health insurance plan according to florida law?

0%

what is the main reason for regulating the insurance industry

Maintain the solvency of insurance companies

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

which of the following unfair trade practices involves an agent who makes malicious statements about another person's financial condition?

defamation

the department may request all of these during the licensing application process except

drug test

a life policy loan in florida cannot charge a fixed rate of interest higher than

10%

what percentage of eligible persons must a policy cover in a noncontributory group?

100%

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

15 years

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

20

which of the following is not required on every insurance application sold in florida?

Address and phone number of the agent

which of the following acts is an agent not authorized to do behalf on an insurer?

Authorize claim payments

which two entities regulate variable annuities?

Department of Financial Services; and Securities Exchange Commission

which organization was established to provide funds to protect an insured in the event of an insurer's insolvency?

Florida insurance guaranty fund association

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 of these is not a legal entity for selling life insurance in florida?

Risk management advisers

which of the following provisions is not required in HMO contracts/certificates?

Seven-day grace period

according to florida law, in which of the following situations would a dependent handicapped child not be covered under a family health policy?

The premiums for the handicapped child are not paid

what is florida's definition of life insurance replacement?

a transaction in which a new policy is bought and an old policy is discontinuted

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

which required disclosure helps a buyer chooses the amount and type of insurance to buy, and how to save money by comparing the cost of similar policies?

buyer's guide

an individual covered under a group life insurance policy is considered to be a(n)

certificate holder

which of the following is not a consequence for placing business with an authorized insurer?

first degree misdemeanor

A license may be denied, suspended, or revoked if the licensee

is found guilty of misrepresentation

with a medical discount plan, how often would a person generally pay a fee to get discounts on specific services?

monthly

under a life insurance policy, the __ has the authority to name the beneficiary

owner

a long term care lapse notice must be delivered to both the applicant and

secondary addressee

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

an example of an unfair claims settlement practice is

turning down a claim without providing the basis of denial

J is an agent who has induced an insured through misrepresentation to surrender an existing insurance policy. what is j guilty of?

twisting

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

24

a life insurance policy's grace period entitled the insured a period of no less than _ days to make the premium payment

30

the free-look period for all qualified long term care policies sold in Florida is _ days

30

every resident agent must have and maintain at their place of business the usual and customary record pertaining to transaction under their license for at least how long?

5 years

in florida, what is the maximum percentage of controlled business an agent may produce?

50%

what do families pay that are covered by the florida healthy kids corporation?

A portion of the premium

which of the following is not required in the outline of coverage for a health insurance policy?

Projection of the policy's future costs

the insurer must provide a prospective buyer with a(n)

a Buyer's Guide and Policy Summary

what are adjustable rates for lice policy loans in florida based on?

moody's corporate bond index

___ can be defined as "using the contract values of an existing policy to purchase a new policy with an existing insurer"

churning

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?

20

eligibility for coverage under the florida healthy kids corporation requires family to be within __ of the federal poverty level

200%

one definition of replacement is "the act of replacing an existing insurance policy with another". replacement is

closely regulated and requires full disclosure

the policy summary contains specific information on all of the following, except

commission

when is it acceptable to share commissions with another agent

As long as both agents are licensed for the same lines of insurance

all of the following are nonforfeiture options except

Automatic Premium Loan Option

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

which of the following is a standard provision of the conversion privileges in a group life policy?

Group Life coverage can be converted to an individual policy at regular rates on an attained-age basis

florida's 14-day free-look period for life insurance policies begin at the

date of delivery

the florida employee health care access act was established to make

group health insurance available to employers with up to 50 employees