Florida Life Health 19
If a licensee is found guilty of a felony, how much time do they have to report it to the Florida Department of Insurance? Select one: a. 7 days b. 15 days c. 21 days d. 30 days
The correct answer is: 30 days
What is the minimum grace period for individual life insurance policies in Florida? Select one: a. 14 days b. 21 days c. 30 days d. 31 days
The correct answer is: 30 days
What is the minimum grace period for group life insurance policies in Florida? Select one: a. 14 days b. 21 days c. 30 days d. 31 days
The correct answer is: 31 days
Insurance advertisements must maintain a complete file of all advertisements for a maximum of: Select one: a. 3 years b. 2 years c. 4 years d. 5 years
The correct answer is: 4 years
Applicants for a disability insurance license must complete how many hours of approved prelicensing education? Select one: a. 24 hours b. 32 hours c. 40 hours d. 48 hours
The correct answer is: 40 hours
Applicants for a life insurance license must complete how many hours of approved prelicensing education? Select one: a. 24 hours b. 32 hours c. 40 hours d. 48 hours
The correct answer is: 40 hours
Applicants for an insurance license may take the licensing examination up to how many times in a 12-month period? Select one: a. 2 b. 3 c. 4 d. 5
The correct answer is: 5
Where replacement is involved, the existing insurer must provide the policyowner a Comparative Information Form within: Select one: a. 5 days b. 7 days c. 10 days d. 15 days
The correct answer is: 5 days
In Florida, what is the minimum number of members required for a group policy? Select one: a. 2 b. 5 c. 7 d. There is no minimum.
The correct answer is: There is no minimum.
If an agent diverts or misappropriates funds of more than $300, but less than $20,000, they have committed a: Select one: a. First degree misdemeanor b. Third degree felony c. First degree felony d. Second degree felony
The correct answer is: Third degree felony
What is the charge for an insurance agent licensed in Florida that knowingly represents or aids an unauthorized insurer? Select one: a. Misdemeanor b. First degree felony c. Second degree felony d. Third degree felony
The correct answer is: Third degree felony
When must an insurance agent provide a Buyer's Guide to the applicant of a new policy that contains an unconditional refund provision? Select one: a. Prior to the sales presentation b. Prior to accepting the applicant's initial premium c. With the policy delivery d. Within 3 days of the policy delivery
The correct answer is: With the policy delivery
Where replacement is involved, when is the latest the replacing insurance company must provide a Buyer's Guide to the applicant of a policy that contains an unconditional refund provision? Select one: a. Prior to the sales presentation b. Prior to accepting the applicant's initial premium c. With the policy delivery d. Within 3 days of the policy delivery
The correct answer is: With the policy delivery
With the exception of fraudulent statements, no health insurance policy may be voided for misstatements made on the application after: Select one: a. 1 year b. 2 years c. 3 years d. 4 years
The correct answer is: 2 years
With the exception of nonpayment of premium, a group life insurance policy is incontestable after: Select one: a. 6 months b. 1 year c. 2 years d. 3 years
The correct answer is: 2 years
Written notice of claim for a health insurance policy must be given within: Select one: a. 14 days b. 20 days c. 30 days d. 31 days
The correct answer is: 20 days
An issuer may provide compensation to agents selling Medicare supplement policies, as long as the 1st year commission is not more than what percentage of their total commission the 2nd year? Select one: a. 100% b. 125% c. 150% d. 200%
The correct answer is: 200%
In Florida, if a long-term care policy lapses unintentionally, it may be reinstated within: Select one: a. 3 months b. 5 months c. 6 months d. 8 months
The correct answer is: 5 months
After an insured has furnished written proof of loss, any legal action must be brought against the health insurer within: Select one: a. 2 years b. 3 years c. 4 years d. 5 years
The correct answer is: 5 years
Insurers and agents must keep all information collected from a consumer and all information used in making insurance recommendations for how many years after the transaction? Select one: a. 2 years b. 3 years c. 4 years d. 5 years
The correct answer is: 5 years
A long-term care policy must have an inflation protection provision that increases benefits annually by at least: Select one: a. 5% b. 7% c. 8% d. 10%
The correct answer is: 5%
In Florida, what is the maximum number of employees to be considered a "small employer?" Select one: a. 20 b. 25 c. 50 d. 62
The correct answer is: 50
A Medicare supplement policy cannot exclude benefits for a pre-existing condition for a person who had how many months of continuous creditable coverage prior to their application? Select one: a. 3 months b. 6 months c. 9 months d. 12 months
The correct answer is: 6 months
An appointing entity must give how much notice before the termination of an appointment? Select one: a. 30 days b. 31 days c. 45 days d. 60 days
The correct answer is: 60 days
In Florida, if a long-term care policy lapses unintentionally, it may be reinstated if the insured had a continuous confinement for more than: Select one: a. 30 days b. 45 days c. 60 days d. 90 days
The correct answer is: 60 days
No legal action may be brought against a health insurer until how many days after an insured has furnished written proof of loss? Select one: a. 30 days b. 60 days c. 90 days d. 120 days
The correct answer is: 60 days
Applicants for a life and disability insurance license must complete how many hours of approved prelicensing education? Select one: a. 40 hours b. 48 hours c. 60 hours d. 80 hours
The correct answer is: 60 hours
How much time does an individual have to convert to a new individual health policy after the termination of their group health policy? Select one: a. 39 days b. 47 days c. 55 days d. 63 days
The correct answer is: 63 days
Written proof of loss must be given to an insurance company within: Select one: a. 30 days b. 45 days c. 60 days d. 90 days
The correct answer is: 90 days
After receiving written proof of loss, benefits for a health insurance policy that are not paid periodically, must be paid: Select one: a. Immediately b. Within 10 days c. Within 14 days d. Within 30 days
The correct answer is: Immediately
In Florida, lower level of care includes: assisted living facility, nursing service, home health service, adult day care, adult foster home, community care for the elderly, personal care and social services. Select one: a. Adult foster care b. Nursing service c. Home health service d. Respite care
The correct answer is: Respite care
Which of the following is not one of the daily living activities that can trigger long-term care benefits? Select one: a. Transferring b. Dressing c. Continence d. Reading
The correct answer is: Reading
In Florida, lower level of care includes all the following, EXCEPT: Select one: a. Community care b. Adult day care c. Hospice care d. Personal care
The correct answer is: Hospice care
Health insurance advertisements may use which of the following? Select one: a. Extra income b. Extra cash c. Hospitalization d. Tax free
The correct answer is: Hospitalization
In Florida, what is the minimum number of employees for a small employer health plan to be guaranteed issuer? Select one: a. 1 b. 2 c. 5 d. 7
The correct answer is: 2
Which of the following must be shown on the front page of any Medicare supplement policy sold in Florida? Select one: a. "Notice to buyer: Buy at your own risk.'' b. "Notice to buyer: This policy may not cover all of the costs.'' c. "Notice to buyer: This policy is in compliance with federal laws.'' d. "Notice to buyer: This policy has been approved by the state of Florida.''
The correct answer is: "Notice to buyer: This policy may not cover all of the costs.''
Which of the following would be found in an advertisement for a policy that is a specified illness, disease, or accident only policy? Select one: a. "THIS IS A DISABILITY POLICY." b. "THIS IS A HEALTH POLICY." c. "THIS IS AN INSURANCE POLICY." d. "THIS IS A LIMITED POLICY."
The correct answer is: "THIS IS A LIMITED POLICY."
Which of the following would be found in an advertisement for a policy that is a specified illness, disease, or accident only policy? Select one: a. "THIS IS A DISABILITY POLICY." b. "THIS IS AN INSURANCE POLICY." c. "THIS IS A HEALTH POLICY." d. "THIS IS A LIMITED POLICY."
The correct answer is: "THIS IS A LIMITED POLICY."
Along with the Long-Term Care Personal Worksheet, an insurer must send what disclosure? Select one: a. "Long-Term Care Insurance in the state of Florida" b. "Federal Regulations Concerning Long-Term Care Insurance" c. "Comparisons and Differences in Long-Term Care Insurance" d. "Things You Should Know Before You Buy Long-Term Care Insurance"
The correct answer is: "Things You Should Know Before You Buy Long-Term Care Insurance"
Which of the following must be shown on the front page of any nonqualified long-term care insurance contract sold in Florida? Select one: a. "This long-term care insurance policy is unqualified." b. "This long-term care insurance policy is not intended to be a qualified long-term care insurance contract." c. "Consult a tax attorney before purchasing this contract." d. "This policy has income tax consequences."
The correct answer is: "This long-term care insurance policy is not intended to be a qualified long-term care insurance contract."
If a group life policy is converted to an individual life policy, the individual life policy can have a maximum coverage of: Select one: a. $10,000 b. $20,000 c. $50,000 d. $100,000
The correct answer is: $10,000
If an annuitant purchased a variable annuity at age 70 for $20,000 and is expected to live another 10 years, what is the annual amount that can be distributed each year tax-free? Select one: a. $1,000 b. $2,000 c. $2,200 d. $20,000
The correct answer is: $2,000
If an annuitant purchased a variable annuity at age 68 for $36,000 and is expected to live another 12 years, what is the annual amount that can be distributed each year tax-free? Select one: a. $2,000 b. $3,000 c. $3,600 d. $36,000
The correct answer is: $3,000
In Florida, health insurance policies must provide at least how many mammograms every year for women who have a personal or family history of breast cancer? Select one: a. 1 b. 2 c. 3 d. 4
The correct answer is: 1
In Florida, what is the minimum number of employees to be considered a "small employer?" Select one: a. 1 b. 2 c. 5 d. 7
The correct answer is: 1
In Florida, what is the minimum number of types of lower level care that must be provided in all long-term care policies? Select one: a. 1 b. 2 c. 3 d. 4
The correct answer is: 1
There must be no surrender or deferred sales charge for withdrawal from an annuity after the end of the what policy year? Select one: a. 5 b. 7 c. 10 d. 15
The correct answer is: 10
A reinstated health insurance policy will cover loss due to sickness how many days after reinstatement? Select one: a. 10 days b. 14 days c. 20 days d. 30 days
The correct answer is: 10 days
An HMO contract must be delivered within how many working days of enrollment? Select one: a. 3 days b. 5 days c. 7 days d. 10 days
The correct answer is: 10 days
In Florida, what is the maximum surrender charge that may be charged to a senior citizen for withdrawal from an annuity? Select one: a. 5% b. 7% c. 8% d. 10%
The correct answer is: 10%
Individual health policies may give a rebate of up what percentage of premiums for individuals who participate in health wellness, maintenance or improvement programs? Select one: a. 5% b. 7% c. 8% d. 10%
The correct answer is: 10%
In Florida, if there is a substantial price increase on a long-term care policy and an insured lapses in payments, they have a right to a contingent benefit period of: Select one: a. 60 days b. 90 days c. 120 days d. 180 days
The correct answer is: 120 days
An insurance company must provide the insured with the proper claim forms within: Select one: a. 10 days b. 15 days c. 20 days d. 30 days
The correct answer is: 15 days
An issuer may elect not to pay for the renewal or replacement of a Medicare supplement policy if it restricts first year agent commissions to: Select one: a. 10% or less of the policy premium b. 15% or less of the policy premium c. 20% or less of the policy premium d. 27% or less of the policy premium
The correct answer is: 15% or less of the policy premium
All health insurance policies must cover cleft lip and cleft palate for children under the age of: Select one: a. 10 b. 12 c. 15 d. 18
The correct answer is: 18
HMO contracts must provide coverage for newborn children of a family member from the moment of birth for at least: Select one: a. 1 month b. 3 months c. 9 months d. 18 months
The correct answer is: 18 months
Florida Healthy Kids is mainly for school age children who are ineligible for Medicaid and whose family income is below: Select one: a. 100% of the federal poverty level b. 150% of the federal poverty level c. 200% of the federal poverty level d. 250% of the federal poverty level
The correct answer is: 200% of the federal poverty level
A grandfathered health insurance plan is one in which an individual was enrolled before March 23 of what year? Select one: a. 2008 b. 2009 c. 2010 d. 2012
The correct answer is: 2010
Florida created the Small Employers Access Program to specifically target employers with up to how many employees? Select one: a. 10 b. 15 c. 20 d. 25
The correct answer is: 25
Eligibility for the payment of long-term care benefits may not be more restrictive than requiring a deficiency in the ability to perform not more than: Select one: a. 1 activity of daily living b. 2 activities of daily living c. 3 activities of daily living d. 4 activities of daily living
The correct answer is: 3 activities of daily living
Sam is looking at MSP and LTC for his grandmother how long is the Free Look from the time of delivery? Select one: a. 10 days b. 20 days c. 30 days d. 60 days
The correct answer is: 30 days
What is the free look period for a Medicare supplement policy? Select one: a. 14 days b. 20 days c. 30 days d. 31 days
The correct answer is: 30 days
What is the free look period for an individual long-term care policy? Select one: a. 14 days b. 20 days c. 30 days d. 31 days
The correct answer is: 30 days
What is the grace period for a long-term care policy? Select one: a. 14 days b. 20 days c. 30 days d. 31 days
The correct answer is: 30 days
How much time does an individual have to convert to a new individual life policy after the termination of their group life policy? Select one: a. 28 days b. 30 days c. 31 days d. 60 days
The correct answer is: 31 days
How much time does an individual have to convert to a new individual life policy after they are terminated from employment covered by a group life policy? Select one: a. 28 days b. 30 days c. 31 days d. 60 days
The correct answer is: 31 days
Someone will not be issued a converted individual policy if they receive another group policy coverage within: Select one: a. 28 days b. 30 days c. 31 days d. 60 days
The correct answer is: 31 days
In Florida, health insurance policies must provide benefits or coverage for a baseline mammogram for women in what age range? Select one: a. 30 to 35 b. 30 to 39 c. 35 to 39 d. 35 to 45
The correct answer is: 35 to 39
In Florida, health insurance policies must provide benefits or coverage for a mammogram every 2 years for women starting at what age? Select one: a. 35 b. 40 c. 45 d. 50
The correct answer is: 40
A replacing long-term care insurer must notify an existing insurer of a replacement within: Select one: a. 3 business days b. 5 business days c. 7 business days d. 10 business days
The correct answer is: 5 business days
In Florida, what is the rule for coverage of fibrocystic condition? Select one: a. No health insurance policies must cover fibrocystic condition b. Health insurance policies may cover fibrocystic condition at the insurer's discretion c. Health insurance policies may cover fibrocystic condition for an extra cost d. All health insurance policies must cover fibrocystic condition
The correct answer is: All health insurance policies must cover fibrocystic condition
On applications for long-term care insurance, agents must list: Select one: a. All other insurance policies sold to an applicant b. All other health insurance policies sold to an applicant c. All other long-term policies sold that are similar to the one being sold d. All other long-term policies sold in the previous 6 months
The correct answer is: All other health insurance policies sold to an applicant
Onnie is looking a LTC policy, which of the following cannot be excluded? Select one: a. Alcoholism & drug addiction b. Mental or nervous disorders c. Preexisting conditions d. Alzheimer's
The correct answer is: Alzheimer's
In Florida, comprehensive health care services includes all the following types of care, EXCEPT: Select one: a. Pharmaceutical b. Rehabilitative c. Convalescent d. Aroma therapy
The correct answer is: Aroma therapy
In Florida, comprehensive health care services includes all the following types of care, EXCEPT: Select one: a. Rehabilitative b. Pharmaceutical c. Aroma therapy d. Convalescent
The correct answer is: Aroma therapy
An arbitrary rate of return set up by the insurer in any separate account it establishes is the: Select one: a. Standard interest rate b. Presumed interest rate c. Assumed interest rate d. Legal interest rate
The correct answer is: Assumed interest rate
Jennifer is pregnant with her first child, when does coverage begin for her newborn? Select one: a. At birth, if a premium has been paid 31 days before b. 31 days after birth c. At birth, with notice d. At birth, with coverage continuing after 31 days if notice is given and premium paid
The correct answer is: At birth, with coverage continuing after 31 days if notice is given and premium paid
Except for direct response policies, when must a Medicare supplement policy outline of coverage must be delivered to an applicant? Select one: a. Prior to the presentation b. At the time of application c. When the policy is delivered d. Within 3 days of the policy delivery
The correct answer is: At the time of application
What is the rule on Medicare supplement policies duplicating benefits provided by Medicare? Select one: a. Benefits must always be duplicated. b. Some benefits may be duplicated. c. Benefits may be duplicated, at the insured's discretion. d. Benefits must never be duplicated.
The correct answer is: Benefits must never be duplicated.
HMOs are based on all of the following, EXCEPT: Select one: a. Fee-for-service b. Early detection c. Prevention care d. Volume discount
The correct answer is: Fee-for-service
Health insurance advertisements may use which of the following? Select one: a. Tax free b. Hospitalization c. Extra income d. Extra cash
The correct answer is: Hospitalization
Individual and group insurance policies must continue to provide coverage for a child past the limiting age who is: Select one: a. Incapable of self-sustaining employment b. Chiefly dependent on the insured for support c. Both incapable of self-sustaining employment and chiefly dependent on the insured for support d. Coverage cannot be continued past the limiting age.
The correct answer is: Both incapable of self-sustaining employment and chiefly dependent on the insured for support
What is the rule on mentioning the Consumer Assistance Plan during the sale of an HMO contract? Select one: a. CAP must never be mentioned. b. CAP can be mentioned only if the consumer asks. c. CAP may be mentioned. d. CAP must always be mentioned.
The correct answer is: CAP must never be mentioned.
What type of marketing fails to disclose in a conspicuous manner that a purpose of the method of marketing is solicitation of insurance? Select one: a. Cold lead advertising b. High pressure advertising c. Solicitation advertising d. Hot lead advertising
The correct answer is: Cold lead advertising
What type of marketing fails to disclose in a conspicuous manner that a purpose of the method of marketing is solicitation of insurance? Select one: a. Solicitation advertising b. Cold lead advertising c. High pressure advertising d. Hot lead advertising
The correct answer is: Cold lead advertising
In transactions involving replacement of an annuity, differences between the existing annuity and the replacing annuity must be provided, including all the following, EXCEPT: Select one: a. Comparison of commissions b. The overall advantages and disadvantages c. Comparison of any fees and charges d. Comparison of the benefits, terms, and limitations
The correct answer is: Comparison of commissions
What was created in Florida to protect subscribers of HMOs from insolvent HMOs? Select one: a. Florida Insolvency Department b. Consumer Assistance Plan c. Florida HMO Oversight Department d. Florida Life and Health Guaranty Association
The correct answer is: Consumer Assistance Plan
What was created in Florida to protect subscribers of HMOs from insolvent HMOs? Select one: a. Florida Life and Health Guaranty Association b. Florida Insolvency Department c. Florida HMO Oversight Department d. Consumer Assistance Plan
The correct answer is: Consumer Assistance Plan
If a group health policy is terminated and the members and dependents want to continue coverage with an individual health policy, the new policy will be referred to as a: Select one: a. Upgraded policy b. Downgraded policy c. Replaced policy d. Converted policy
The correct answer is: Converted policy
In Florida, all health insurance plans must provide coverage for all medical equipment, supplies, and services used to treat: Select one: a. Schizophrenia b. Diabetes c. Multiple Sclerosis d. Psoriasis
The correct answer is: Diabetes
Which of the following is NOT considered to be an activity of daily living that might be used as a "trigger" for the payment of benefits? Select one: a. Eating b. Bathing c. Driving d. Toileting
The correct answer is: Driving
Which of the following is NOT considered to be an activity of daily living that might be used as a "trigger" for the payment of benefits? Select one: a. Eating b. Driving c. Toileting d. Bathing
The correct answer is: Driving
A Medicare supplement insurer cannot deny an application for a Medicare supplement policy nor charge a higher premium if the applicant is under 65 and eligible for Medicare due to disability or: Select one: a. Cancer b. Diabetes c. HIV/AIDS d. ESRD
The correct answer is: ESRD
To determine the amount that can be withdrawn from a variable annuity each year tax-free, what value must be determined? Select one: a. Annuity ratio b. Premium ratio c. Exclusion ratio d. Investment ratio
The correct answer is: Exclusion ratio
HMOs are based on all of the following, EXCEPT: Select one: a. Early detection b. Fee-for-service c. Prevention care d. Volume discount
The correct answer is: Fee-for-service
What type of annuity allows the owner to set up an annuity and then make premium payments however and whenever they want? Select one: a. Single premium annuity b. Periodic premium payment annuity c. Flexible premium annuity d. Immediate annuity
The correct answer is: Flexible premium annuity
What act is meant to promote the availability of health insurance coverage to small employers in Florida? Select one: a. Florida Access to Health Care Act b. Florida Employee Health Care Access Act c. Florida Small Employer Health Care Act d. Florida Life and Health Guaranty Act
The correct answer is: Florida Employee Health Care Access Act
What organization did Florida create to improve access to health insurance for uninsured children in Florida? Select one: a. Florida Insurance for Children's Health (FISH) b. Florida Children's Health Insurance Corporation c. Florida Children's Health Corporation d. Florida Healthy Kids Corporation
The correct answer is: Florida Healthy Kids Corporation
A health insurance policy that covers family members must cover adopted children: Select one: a. Retroactively from the moment of birth b. From the signing of the adoption papers c. From the moment of placement in the residence d. 30 days after placement in the residence
The correct answer is: From the moment of placement in the residence
An advertisement for a health policy that is an invitation to buy a contract must disclose the existence of all the following, EXCEPT: Select one: a. Elimination period b. Probationary period c. Grace period d. Waiting period
The correct answer is: Grace period
An advertisement for a health policy that is an invitation to buy a contract must disclose the existence of all the following, EXCEPT: Select one: a. Elimination period b. Waiting period c. Probationary period d. Grace period
The correct answer is: Grace period
In Florida, HMOs are exclusively through the: Select one: a. Federal enrollment system b. State enrollment system c. Individual enrollment system d. Group enrollment system
The correct answer is: Group enrollment system
In Florida, HMOs are exclusively through the: Select one: a. Individual enrollment system b. Federal enrollment system c. Group enrollment system d. State enrollment system
The correct answer is: Group enrollment system
Who pays the claim if someone dies during the conversion period from a group life policy to an individual life policy? Select one: a. Group life policy b. Individual life policy c. Each policy pays half d. A court must decide
The correct answer is: Group life policy
In Florida, all small employer health plans must be: Select one: a. Nonguaranteed issue b. Conditionally issue c. Optionally issue d. Guaranteed issue
The correct answer is: Guaranteed issue
What is any method of marketing having the effect of or tending to induce the purchase of insurance through force, fright, or threat? Select one: a. Twisting b. Fraud c. High pressure tactics d. Cold lead advertising
The correct answer is: High pressure tactics
In Florida, comprehensive health care services includes all the following types of care, EXCEPT: Select one: a. Homeopathic b. Optometric c. Chiropractic d. Podiatric
The correct answer is: Homeopathic
In Florida, comprehensive health care services includes all the following types of care, EXCEPT: Select one: a. Homeopathic b. Optometric c. Podiatric d. Chiropractic
The correct answer is: Homeopathic
In Florida, lower level of care includes all the following, EXCEPT: Select one: a. Adult day care b. Personal care c. Community care d. Hospice care
The correct answer is: Hospice care
All of the following are duties of insurers when selling annuities, EXCEPT: Select one: a. Informing the consumer of the cost comparison to competitors b. Informing the consumer that the particular annuity as a whole is suitable c. Informing the consumer of various features d. Informing the consumer of the benefit to the consumer of certain features
The correct answer is: Informing the consumer of the cost comparison to competitors
ERISA states that no employee benefit plan or trust shall be deemed to be what kind of company? Select one: a. Investment company b. Insurance company c. Retirement company d. Savings company
The correct answer is: Insurance company
ERISA states that no employee benefit plan or trust shall be deemed to be what kind of company? Select one: a. Investment company b. Retirement company c. Insurance company d. Savings company
The correct answer is: Insurance company
A person insured under a group life insurance policy may make an assignment of all of the following, EXCEPT: Select one: a. Conversion b. Beneficiary c. Policy proceeds d. Insured
The correct answer is: Insured
Who determines the arbitrary rate of return in any separate account? Select one: a. Insurer b. The bank c. The state of Florida d. The federal government
The correct answer is: Insurer
To sell variable insurance products in Florida a person must first be licensed and appointed as what type of agent Select one: a. Life agent b. Special life agent c. Life and annuity agent d. Life including variable products agent
The correct answer is: Life including variable products agent
A Medicare supplement insurer cannot deny an application for a Medicare supplement policy if the applicant is both 65 and enrolled in: Select one: a. Medicare Part A b. Medicare Part B c. Medicare Part C d. Medicare Part D
The correct answer is: Medicare Part B
What Florida statute ensures coverage for employees of small businesses not covered by COBRA 1985? Select one: a. Flori-COBRA b. Mini-COBRA c. Small Business-COBRA d. VIPER
The correct answer is: Mini-COBRA
After receiving written proof of loss, benefits for a health insurance policy that are paid periodically, must be paid: Select one: a. Weekly b. Biweekly c. Monthly d. Bimonthly
The correct answer is: Monthly
The definition of "Medicare eligible expense" for a Medicare supplement policy cannot be: Select one: a. Less restrictive than Medicare's b. Less restrictive than or equally restrictive as Medicare's c. Equally restrictive as Medicare's d. More restrictive than Medicare's
The correct answer is: More restrictive than Medicare's
Which of the following plans is subject to all of the PPACA requirements? Select one: a. Inherent health insurance plan b. Catastrophic health insurance plan c. Nondescript health insurance plan d. Nongrandfathered health insurance plan
The correct answer is: Nongrandfathered health insurance plan
What type plan is subject to the PPACA? Select one: a. Grandfathered plans b. Nongrandfathered plans c. All plans d. Life plans
The correct answer is: Nongrandfathered plans
ERISA governs an employee benefit plan and its jurisdiction is: Select one: a. Mandatory b. Inclusive c. Exclusive d. Not exclusive
The correct answer is: Not exclusive
In Florida, all health insurance and HMO plans must provide coverage for diagnosis and treatment of: Select one: a. Hypnosis b. Halitosis c. Osteoporosis d. Psoriasis
The correct answer is: Osteoporosis
An advertisement for a health insurance policy must give an appropriate definition or description for which of the following terms? Select one: a. Health b. Accident c. Insurance d. Pre-existing
The correct answer is: Pre-existing
An advertisement for a health insurance policy must give an appropriate definition or description for which of the following terms? Select one: a. Pre-existing b. Insurance c. Accident d. Health
The correct answer is: Pre-existing
When must an agent for a long-term care policy deliver the shopper's guide? Select one: a. Prior to the sales presentation b. Prior to the presentation of the application c. When the application is accepted d. When the policy is delivered
The correct answer is: Prior to the presentation of the application
What must an agent furnish an applicant before selling a variable life insurance policy or variable annuity? Select one: a. Prospectus b. Policy Summary c. Buyer's Guide d. Prospectus, Policy Summary and Buyer's Guide
The correct answer is: Prospectus
Which of the following is not one of the daily living activities that can trigger long-term care benefits? Select one: a. Continence b. Transferring c. Reading d. Dressing
The correct answer is: Reading
In Florida, lower level of care includes: assisted living facility, nursing service, home health service, adult day care, adult foster home, community care for the elderly, personal care and social services. Select one: a. Respite care b. Adult foster care c. Home health service d. Nursing service
The correct answer is: Respite care
If a person is employed and covered by 2 health policies, one of which is Medicare, when does Medicare pay? Select one: a. First always b. First if the person is over 65 c. First if the person is still working d. Second always
The correct answer is: Second always
How is an immediate annuity funded? Select one: a. Single payment b. Multiple payments c. Flexible payments d. Periodic payments
The correct answer is: Single payment
Appropriately addressing an applicant's financial objectives is known as determining: Select one: a. Objectivity b. Suitability c. Financability d. Convertibility
The correct answer is: Suitability
An agent must believe that the sale of a fixed, indexed, or variable annuity is: Select one: a. Profitable b. Suitable c. Available d. Manageable
The correct answer is: Suitable
In transactions involving replacement of an annuity, an agent must tell the applicant that they should consult a: Select one: a. Tax adviser b. Banker c. Detective d. Lawyer
The correct answer is: Tax adviser
Which of the following is a problem with nonqualified long-term care insurance contracts sold in Florida? Select one: a. Higher cost b. Less benefits c. Tax consequences d. More volatility
The correct answer is: Tax consequences
Who chooses the payment cycles for an immediate annuity? Select one: a. The annuitant b. The insurer c. The state d. There is only one type of payment cycle.
The correct answer is: The annuitant
Who must sign the Notice Regarding Replacement of Medicare Supplement Coverage? Select one: a. The applicant only b. The replacing agent only c. The applicant and the replacing agent d. The applicant, the replacing agent and the insurer
The correct answer is: The applicant and the replacing agent
Who must sign the Notice Regarding Replacement of Accident and Sickness or Long-term Care Coverage? Select one: a. The applicant only b. The replacing agent only c. The applicant and the replacing agent d. The applicant, the replacing agent and the insurer
The correct answer is: The applicant only
What happens if a claim is made on a long-term care policy during the grace period? Select one: a. The claim will not be paid. b. The claim will be paid after the premium is paid. c. The claim will be paid and the amount of the premium will be subtracted. d. The claim will be paid with a bill for the premium.
The correct answer is: The claim will be paid and the amount of the premium will be subtracted.
Under an HMO contract, when does coverage for newborns begin? Select one: a. The moment of birth b. When the newborn leaves the hospital c. One day after the newborn arrives at their home d. 31 days after birth
The correct answer is: The moment of birth
To determine the amount that can be withdrawn from a variable annuity each year tax-free, the cost basis is divided by: Select one: a. The annuitant's age b. Exclusion ratio c. The number of premium payments d. The number of years the annuitant is expected to live
The correct answer is: The number of years the annuitant is expected to live
If a person is covered by 2 health policies, one as an employee and one as a dependent, which policy pays first when there is a claim? Select one: a. The policy as an employee b. The policy as a dependent c. The policy applied for first d. The policy applied for second
The correct answer is: The policy as an employee
If a dependent child is covered by 2 health policies from divorced or separated parents, which policy pays first? Select one: a. The policy of the parent with custody b. The policy of the spouse of the parent with custody c. The policy of the parent without custody d. The policy of the parent whose birthday falls earlier in the year
The correct answer is: The policy of the parent with custody
Florida Healthy Kids provides health insurance to children who are eligible for assistance under: Select one: a. Florida's poverty definition b. Title XXI of the Social Security Act c. Florida Requirement LH-123 d. Medicaid
The correct answer is: Title XXI of the Social Security Act
Florida Healthy Kids provides health insurance to children who are eligible for assistance under: Select one: a. Title XXI of the Social Security Act b. Florida's poverty definition c. Medicaid d. Florida Requirement LH-123
The correct answer is: Title XXI of the Social Security Act
Inducing a policyholder to switch insurance companies without regard to bad consequences is: Select one: a. Defamation b. Boycott c. Churning d. Twisting
The correct answer is: Twisting
Applications for long-term care insurance must include questions for all of the following, EXCEPT: Select one: a. Whether an applicant has long-term care insurance b. Whether an applicant has life insurance c. Whether an applicant has long-term care insurance that will be replaced d. Whether an applicant has accident and sickness insurance that will be replaced
The correct answer is: Whether an applicant has life insurance
In the replacement of an annuity, the insurer must determine the suitability by considering all the following, EXCEPT: Select one: a. Whether the person will incur a surrender charge b. Whether the person will be subject to a new surrender period c. Whether the person will lose existing benefits d. Whether the person will have to payback a commission
The correct answer is: Whether the person will have to payback a commission
A termination of appointment must be sent in writing to the Insurance Department within: Select one: a. 15 days b. 21 days c. 30 days d. 31 days
The correct answer is: 30 days
Where replacement is involved, it is the duty of the replacing insurance company to maintain all related records for at least: Select one: a. 2 years b. 3 years c. 4 years d. 5 years
The correct answer is: 3 years
Direct response life insurance advertisements may contain which of the following phrases? Select one: a. "No agent will call" b. "No salesman will call" c. "Save money" d. "We can offer this low cost plan
The correct answer is: "Save money"
What is the maximum amount that the Florida Life and Health Guaranty Association will pay to a person for net cash withdrawals for life insurance from an insolvent insurer? Select one: a. $100,000 b. $200,000 c. $300,000 d. $500,000
The correct answer is: $100,000
A gift for the purposes of advertising is allowed if the value is not more than: Select one: a. $20 b. $25 c. $50 d. $100
The correct answer is: $25
What is the maximum amount that the Florida Life and Health Guaranty Association will pay to a person for a deferred annuity contract from an insolvent insurer? Select one: a. $100,000 b. $250,000 c. $500,000 d. $750,000
The correct answer is: $250,000
What is the maximum amount that the Florida Life and Health Guaranty Association will pay for any one life from an insolvent insurer? Select one: a. $100,000 b. $200,000 c. $300,000 d. $500,000
The correct answer is: $300,000
If a person nonwillfully commits twisting or churning, they are subject to an administrative penalty not greater than: Select one: a. $12,000 b. $5,000 c. $10,000 d. $2,000
The correct answer is: $5,000
If a person willfully commits twisting or churning, they are subject to an administrative penalty not greater than: Select one: a. $50,000 b. $100,000 c. $75,000 d. $25,000
The correct answer is: $75,000
In Florida, what is the maximum percentage rate that may be charged on a fixed rate policy loan? Select one: a. 5% b. 7% c. 8% d. 10%
The correct answer is: 10%
What is the minimum free look period for life insurance policies in Florida? Select one: a. 14 days b. 21 days c. 30 days d. 31 days
The correct answer is: 14 days
Once a consumer complaint has been filed, an insurance company has how many days to respond to the Insurance Department? Select one: a. 15 days b. 20 days c. 30 days d. 31 days
The correct answer is: 20 days
What is the minimum free look period for a fixed annuity in Florida? Select one: a. 14 days b. 21 days c. 30 days d. 31 days
The correct answer is: 21 days
What is the minimum free look period for a variable annuity in Florida? Select one: a. 14 days b. 21 days c. 30 days d. 31 days
The correct answer is: 21 days
Licensees must complete at least how many hours of continuing education courses every licensing period? Select one: a. 10 hours b. 20 hours c. 24 hours d. 32 hours
The correct answer is: 24 hours
Appointments expire on the last day of the appointee's birth month after: Select one: a. 12 months b. 24 months c. 36 months d. 48 months
The correct answer is: 24 months
Where replacement is involved, it is the duty of the existing insurer to maintain all related records for at least: Select one: a. 2 years b. 3 years c. 4 years d. 5 years
The correct answer is: 3 years
Licensee must complete at least how many hours of continuing education in law and ethics that is specific to the licensee's license every licensing period? Select one: a. 3 hours b. 5 hours c. 8 hours d. 10 hours
The correct answer is: 5 hours
What is the maximum percentage of premiums for policies sold by a licensee in a 12-month period can be from controlled business? Select one: a. 15% b. 25% c. 33% d. 50%
The correct answer is: 50%
In Florida, what is the maximum interest rate that may be charged for late payments for individual insurance polices? Select one: a. 5% b. 7% c. 8% d. 10%
The correct answer is: 8%
An emergency cease and desist order by the Office of Insurance Regulation is effective for how many days? Select one: a. 45 days b. 60 days c. 90 days d. 30 days
The correct answer is: 90 days
An emergency cease and desist order by the Office of Insurance Regulation is effective for how many days? Select one: a. 45 days b. 90 days c. 30 days d. 60 days
The correct answer is: 90 days
What is the first action the Office of Insurance Regulation will take for an insurer engaging in an unsound practice? Select one: a. A cease and desist order b. A revocation of license decree c. A contempt of court order d. An arrest warrant
The correct answer is: A cease and desist order
Who may accept a commission for soliciting or negotiating insurance? Select one: a. A licensed and appointed agent, an insurance administrator or an insurance solicitor only b. A licensed and appointed agent only c. A licensed and appointed agent or an insurance administrator only d. Any one involved with an insurance sale
The correct answer is: A licensed and appointed agent only
Giving a client's child a stuffed animal with a company's logo that is valued at less than $25 would be considered: Select one: a. Rebating b. False advertising c. Coercion d. Advertising
The correct answer is: Advertising
Who is a self-employed person that ascertains and determines the amount of a claim, loss or damage? Select one: a. Customer service representative b. Limited customer representative c. Public adjuster d. All lines adjuster
The correct answer is: All lines adjuster
What happens if the age of an insured person has been misstated on a life policy? Select one: a. Nothing, any changes must be done before the policy is issued. b. The policyowner will be fined. c. An equitable adjustment of premiums or benefits will be made. d. The policy will be cancelled.
The correct answer is: An equitable adjustment of premiums or benefits will be made.
What is issued to each person insured under a group life insurance policy? Select one: a. A copy of the group policy b. An individual policy c. Nothing d. An individual certificate
The correct answer is: An individual certificate
What is a business location where an entity engages in activities that may only be performed by a licensed insurance agent? Select one: a. Insurer b. Adjuster c. An insurance agency d. An underwriting agency
The correct answer is: An insurance agency
In Florida, which of the following is NOT a type of "agent"? Select one: a. General lines agent b. Annuity agent c. Health agent d. Title agent
The correct answer is: Annuity agent
In order for a person to act as an insurance agent, an insurer or appointing entity must have them: Select one: a. Appointed b. Installed c. Interned d. Instigated
The correct answer is: Appointed
How often is the Office of Insurance Regulation entitled to perform a financial examination of an insurer? Select one: a. At least once every year b. At least once every 2 years c. At least once every 3 years d. At least once every 4 years
The correct answer is: At least once every 3 years
When does an applicant have the right to designate a second addressee? Select one: a. At the time of the policy application only b. Within a 30-day window after the policy application c. At the time of the policy application or on the anniversary date of the policy each year d. At the time of the policy application or at any time the policy is in force
The correct answer is: At the time of the policy application or at any time the policy is in force
What must an insurance agent provide to the applicant of a life insurance policy that does not contain an unconditional refund provision prior to accepting the applicant's initial premium? Select one: a. Buyer's Guide only b. Policy Summary only c. Buyer's Guide and Policy Summary d. Buyer's Guide, Policy Summary, and benefits list
The correct answer is: Buyer's Guide and Policy Summary
Where replacement is involved, what must the replacing insurance company provide to the applicant of a policy that does not contain an unconditional refund provision prior to accepting the applicant's initial premium? Select one: a. Buyer's Guide only b. Policy Summary only c. Buyer's Guide and Policy Summary d. Buyer's Guide, Policy Summary, and benefits list
The correct answer is: Buyer's Guide and Policy Summary
Inducing a policyholder to change policies within the same insurance company without regard to bad consequences is: Select one: a. Defamation b. Boycott c. Twisting d. Churning
The correct answer is: Churning
The Office of Insurance Regulation has all the following duties, EXCEPT: Select one: a. Assessing insurers' solvency b. Issuing certificates of authority c. Creating insurance laws d. Regulating viatical settlements
The correct answer is: Creating insurance laws
Insurance advertisements may not refer to premiums as: Select one: a. Remittances b. Amounts c. Payments d. Deposits
The correct answer is: Deposits
How often must the Office of Insurance Regulation conduct an examination of a domestic insurer that has held a certificate of authority for less than 3 years? Select one: a. Every 6 months b. Every 18 months c. Every year d. Every 3 months
The correct answer is: Every year
How often must the Office of Insurance Regulation conduct an examination of a domestic insurer that has held a certificate of authority for less than 3 years? Select one: a. Every year b. Every 6 months c. Every 3 months d. Every 18 months
The correct answer is: Every year
The Insurance Department may place on probation, suspend, revoke or refuse to issue or renew an insurance producer license for which of the following reasons? Select one: a. Failing to pay child support b. Failing to pay alimony c. Failing to pay property tax d. Failing to pay union dues
The correct answer is: Failing to pay child support
The Insurance Department may place on probation, suspend, revoke or refuse to issue or renew an insurance producer license for which of the following reasons? Select one: a. Replacing a policy b. Selling Viatical settlements c. Offering a 10-14 day free look period. d. Felony or dishonest practices
The correct answer is: Felony or dishonest practices
The fact that an insurance agent cannot commingle their insurance funds with their personal funds is referred to in legal terms as: Select one: a. Monetary Reconciliation b. Separation of assets c. Fiduciary responsibility d. Legal liability
The correct answer is: Fiduciary responsibility
If an agent diverts or misappropriates funds of more than $100,000, they have committed a: Select one: a. Second degree felony b. Third degree felony c. First degree felony d. First degree misdemeanor
The correct answer is: First degree felony
If a person commits twisting or churning, they have committed a: Select one: a. Second degree misdemeanor b. First degree felony c. Second degree felony d. First degree misdemeanor
The correct answer is: First degree misdemeanor
If an agent diverts or misappropriates funds of $300 or less, they have committed a: Select one: a. Second degree misdemeanor b. First degree misdemeanor c. First degree felony d. Second degree felony
The correct answer is: First degree misdemeanor
In Florida, the term "agent" includes which of the following? Select one: a. Customer service representative b. Limited customer representative c. Service representative d. General lines agent
The correct answer is: General lines agent
In insurance terms, which of the following is NOT "sliding"? Select one: a. Representing to the applicant that a specific ancillary coverage or product is required by law in conjunction with the purchase of insurance when such coverage or product is not required b. Representing to the applicant that a specific ancillary coverage or product is included in the policy applied for without an additional charge when such charge is required c. Charging an applicant for a specific ancillary coverage or product, in addition to the cost of the insurance coverage applied for, without the informed consent of the applicant d. Getting someone to change policies with a different company without revealing all the repercussions
The correct answer is: Getting someone to change policies with a different company without revealing all the repercussions
Insurance advertisements may not imply that dividends or divisible surplus is: Select one: a. Legal b. Guaranteed c. Not guaranteed d. Included
The correct answer is: Guaranteed
Which of the following cannot be an insurance agency? Select one: a. Individual b. Insurer c. Association d. Corporation
The correct answer is: Insurer
Insurance advertisements may not: Select one: a. Make comparisons b. Make unfair or incomplete comparisons of policies c. Include testimonials d. Show cost estimates
The correct answer is: Make unfair or incomplete comparisons of policies
Where replacement is involved, what else must an agent give the insurer with an application for life insurance? Select one: a. Notice to Applicant Regarding Replacement of Life Insurance only b. A copy of all sales proposals only c. Notice to Applicant Regarding Replacement of Life Insurance and a copy of all sales proposals d. Notice to Applicant Regarding Replacement of Life Insurance, a copy of all sales proposals and the Buyer's Guide
The correct answer is: Notice to Applicant Regarding Replacement of Life Insurance and a copy of all sales proposals
Besides an attorney, who is a person that prepares, completes or files insurance claim forms for insureds and third parties? Select one: a. Customer service representative b. Limited customer representative c. Public adjuster d. General lines agent
The correct answer is: Public adjuster
Who is a person that aids insureds and third parties in negotiating the settlement of insurance claims? Select one: a. Customer service representative b. Limited customer representative c. Public adjuster d. General lines agent
The correct answer is: Public adjuster
If an agent diverts or misappropriates funds of more than $20,000, but less than $100,000, they have committed a: Select one: a. First degree misdemeanor b. Second degree felony c. First degree felony d. Third degree felony
The correct answer is: Second degree felony
Where replacement is involved, what is the replacing insurance company's duty to the existing insurer? Select one: a. None b. Send a copy of the Notice to Applicant Regarding Replacement of Life Insurance immediately c. Send a copy of the Notice to Applicant Regarding Replacement of Life Insurance within 3 business days d. Send a copy of the Notice to Applicant Regarding Replacement of Life Insurance and a copy of all sales proposals within 3 business days
The correct answer is: Send a copy of the Notice to Applicant Regarding Replacement of Life Insurance immediately
An insurer cannot refuse to insure or charge a higher premium for insuring a person solely because the person has: Select one: a. Sickle-cell trait b. Cancer c. Diabetes d. Multiple Sclerosis
The correct answer is: Sickle-cell trait
Representing to the applicant that a specific product is required by law in conjunction with the purchase of insurance when the product is not required is considered: Select one: a. Twisting b. Sliding c. Torqueing d. Churning
The correct answer is: Sliding
In addition to a cease and desist order, what action can the Office of Insurance Regulation take for a person engaging the unlawful transaction of insurance? Select one: a. Order a fine b. Order the person to jail c. Suspend or revoke the person's license or certificate of authority d. Order a fine and jail time
The correct answer is: Suspend or revoke the person's license or certificate of authority
In Florida, who of the following cannot be the beneficiary of a life insurance policy for a family member? Select one: a. First cousin b. Stepmother c. Half brother d. The life insurance agent
The correct answer is: The life insurance agent
