Missed - Exam Questions FL Life and Health

An employee will be taxed on the cost of group life insurance paid by the employer if the amount of coverage exceeds

$50,000

Which of the following is NOT covered under a long term care policy?

Acute care in a hospital

Under which of the following circumstances would an insurer pay accelerated benefits?

An insured is diagnosed with cancer and needs help paying for her medical treatment

What coverage, written in conjunction with hospital expense policies, covers surgeons' fees, anesthesiologist, and the operating room?

Basic Surgical Expense

A group policy used to provide accident and health coverage on a group of persons being transported by a common carrier, without naming the insured persons individually is called

Blanket policy

A policy available to business owners that provides payment for normal business expenses in the event that the owner is disabled is called

Business Overhead Expense

All of the following are personal uses of life insurance EXCEPT?

Buy sell agreement

Which of the following must an insurer obtain in order to transact insurance within a given state?

Certificate of authority

If an agent advises a policyholder to replace an insurance policy but only does so for the purpose of making commissions, the agent has committed an act of

Churning

A key person insurance policy can pay for which of the following?

Costs of training a replacement

All of the following are true about group disability income insurance EXCEPT

Coverage applies both on and off the job

All of the following statements concerning Accidental Death and Dismemberment coverage except?

Death benefits are paid only if death occurs within 24 hours pg an accident.

Who does the secondary notice provision protect?

Elderly Insureds

An insured is hospitalized with a back injury. Upon checking his disability income policy, he learns that he will not be eligible for benefits for at least 30 days. This indicates that his policy is written with a 30-day

Elimination period

The provision in a heath insurance policy that ensures that the insurer cannot refer to any document that is not contained in the contract is the

Entire contract cluase

What type of premium do both Universal Life and Variable Universal Life policies have?

Flexible

Who must pay for the cost of a medical examination required in the process of underwriting?

Insurer

What is the purpose of a conditional receipt?

It is intended to provide coverage on a date prior to the policy issue.

A prospective insured receives a conditional receipt but dies before the policy is issued. The insurer will

Pay the policy proceeds only is it would have issued the policy

Which of the following will be included in a policy summary?

Premium amounts and surrender values

A couple owns a life insurance policy with a Children's Term rider. Their daughter is reaching the maximum age of dependent coverage, so she will have to convert to permanent insurance in the near future. Which of the following will she need to provide for proof of insurability?

Proof of insurability is not required

Which of the following statements is correct about a standard risk classification in the dame age group and with similar lifestyles?

Standard risk is representative of the majority of people

All of the following statements about equity annuities are correct EXCEPT?

The annuitant receives a fixed amount of return

If a person accumulates more continuing education hours than is necessary to fulfill the requirements of the 2 year period which of the following will occur?

The extra hours may be continued into the next period

An insured purchased a noncancelable health insurance policy

The insured is in an accident and incurs a large claim

Who does the secondary addressee provision protect?

The insured over the age of 64

The policyowner of a Universal Life policy may skip paying the premium and the policy will not lapse as long as

The policy contains sufficient cash value to cover the cost of insurance

An insured is upset that her new health insurance policy was delivered to her by certified mail and not through her agent. Which of the following is true?

There is nothing wrong with the form of policy delivery

Long Term care policies requires that in addition to the applicant at least one person must be designated in the policy. What is the role of that designated person?

To receive notice of policy lapse or termination

When is the earliest a policy may go into effect?

When the applicant is signed and a check is given to the agent

When would a 20 - pay whole life policy endow?

When the insured reached age 100

All of the following are basic types of health insurance plans EXCEPT?

Workers compensation

A rider that may be attached to a life insurance policy that will adjust the face amount based upon a specific index, such as the Consumer Price Index, is called

cost of living rider

Which of the following is true about the premium on the children's rider in a life insurance policy?

it remains the same no matter how many children are added to the policy.

When an insurer terminates an agent's appointment, the insurer must do all of following EXCEPT

provide a 30 day advance notice to the commissioner

An insured purchased a 15 year level term life insurance policy with a face amount $100,000. The policy contained an accidental death rider, offering a double indemnity benefit. The insured was severely injured in an auto accident, and after 10 weeks of hospitalization, died from the injuries. What amount would his beneficiary receive as a settlement?

$200,000

How is emergency care covered for a member of an HMO?

A member of an HMO can receive care in or out of the HMO service area, but care is preferred in the service area.

The free-look provision allows for which of the following?

A right to return the policy for a full premium refund

Which of the following is a generic consumer publication that explains life insurance in general terms in order to terms in order assist the applicant in the decision-making process?

Buyer's Guide

All of the following statements concerning dividends are true EXCEPT

Dividend amounts are guaranteed in the policy

All of the following could be considered rebates id offered to an insured in the sale of insurance EXCPET

Dividends from a mutual insurer

What rider, when attached to a permanent life insurance policy, provides an insurance on every family member?

Family term rider

The Gramm-Leach Billey Act was passed to

Protect private customer information filed with a financial institution.

Which of the following is among the regulations set fourth by the Florida Replacement Rule?

Providing a written comparison and summary statement

Insurers may change which of the following on a guaranteed renewable health insurance policy?

Rates by class

An insured who has an Accidental Death and Dismemberment policy loses her left arm in an accident. What type of benefit will she most likely receive from this policy?

The capital amount in a lump sum

An employer offers group life insurance to its employees for the amount of $10,000. Which of the following is true?

The cost of coverage is a deductible expense by the employer

A father owns a life insurance policy on his 15-year-old daughter. The policy contains the optional Payor Benefit rider. If the father becomes disabled, what will happen to the life insurance premiums?

The insured's premiums will be waived until she is 21

If an insurer requires a medical examination of an applicant in connection with the application for life insurance, who is responsible for paying the cost of the examination?

The insurer

How must a replacing producer respond to an applicant wishing to replace existing life insurance?

the producer must provide the applicant with a Notice Regarding Replacement

The continuation of coverage provision allows terminated employees to continue coverage under a group health insurance plan for up to

18 months

The time limit of certain defenses provision prohibits insurers from denying a claim due to misrepresentation, as long as the policy has been in force for at least

2 years

Within how many days of the termination of the insured's group coverage must the insured notify the insurer of the decision to convert to individual coverage?

31 days

Once the person meets the stringent requirements for disability benefits, how long is the waiting period under Social Security before any benefits will be paid?

5 months

An agent is ready to deliver a policy to an applicant but has not yet received payment. Upon delivery, the agent collects the applicant's premium check, answers any questions the applicant may have, and then leaves. What did he forget to do?

Ask her to sign a statement of good health

When must an insurance company preset an outline of coverage to an applicant for a Medicare supplement policy?

At the time of application

To comply with Fair Credit Reporting Act, when must a producer notify an applicant that a credit report may be requested?

At the time of the application

Occasional visits by which of the following medical professionals will NOT be covered under LTC's home health care?

Attending physician

Which of the following entities is not an insurer but an organization formed to provide insurance benefits for members of an affiliated lodge or religious organization ?

Fraternal benefit society

In which of the following cases will the insured be able to receive the full face amount from from a whole life policy?

If the insured lives to age 100

An insurer publishes intimidating brochures that portray the insurer's competition as financially and professionally unstable. Which of the following best describes this act?

Illegal

A woman's heath insurance policy dictates which doctors she is allowed to see. Her heath providers share an assumed risk for the their patients and encourage preventive care. What best describes the health system that health system that the woman is using?

Managed Care

Which provision concerns the insured's duty to provide the insurer with reasonable notice in the event of a loss?

Notice of claim

With respect to the Consideration Clause, which of the following would be considered consideration on the part of the applicant for insurance ?

Payment of premium

Most agents try to collect the initial premium for submission with the application. When an agent collects the initial premium from the applicant, the agent should issue the applicant a

Premium receipt

If an employer decides to change its life insurance policy to a similar one with a different insurer, which of the following describes the extent that replacement regulations will be excerised?

Replacement regulations will not be apply in this situation

An insurance agent X has been found guilty of a felony and was sentenced to 3 years in prison. What would be the appropriate plan of action?

Send a written notification to the department of insurance

Which of the following is an example of a product being involved in an unfair trade practice pf rebating ?

Telling a client that his first premium will be waived if purchases the insurance policy today

Children Riders attached a whole life policies are usually issued as what type of insurance

Term

Which of the following is true about the requirement regarding HIV exams?

The applicant must give prior informed written consent

A husband and wife are insured under group health insurance plans at their own places of employment, and as dependents under their spouse's coverage. If one of them incurs hospital expenses, how will those expenses likely be paid?

The benefit will be coordinated

In order for an insured under Medicare Part A to receive benefit for care in a skilled nursing facility, which of the following conditions must be met?

The insured must have first been hospitalized for 3 consecutive days.

All of the following statements about Medicare supplement insurance policies are correct except?

They cover the cost of extended nursinghome care.

Which of the following is NOT true regarding Equity Indexed Annuities?

They earn lower interest rates than fixed annuities

All of the following are true regarding the guaranteed insurability rider EXCEPT

This rider is available to all insureds with no additional premiums

An agent transacts business for Insurer A and Insurer B, both selling life insurance, and for Insurer C, selling health insurance. How many appointments must the agent hold?

Three - one for each insurer

A paid-up nonforfeiture benefit will become effective as specified in the policy, unless the person entitled elects another available option within how many days after the due date of the premium in default?

60

In order to maintain coverage under COBRA, how soon from termination of employment must an employee exercise extension of benefits

60 days

If a claim is made on a policy during the grace period, an insurer is allowed to deduct the overdue premium and to charge interest. What is the maximum allowed interest rate?

8%

Which of the following long-term care benefits would provide coverage for functionally impaired adults on a less than 24-hour basis?

Adult day care

Which of the following would NOT be a violation of state insurance reulations?

Agent C uses her license to write only business other than controlled

When a producer was reviewing a potential customer's coverage written by another company, the producer made several remarks that were maliciously critical of that other insurer. The producer could be found guilty of

Defamation

What is an important feature of a dental expense insurance plan that is NOT typically found a medical expense insurance plan?

Diagnostic and preventive care

A waiver of premium provision may be included with what type of health insurance policies?

Disability income

An agent's client needs additional insurance which the agent's own insurer cannot provide. The agent has to solicit additional coverage from another authorized insurer. This coverage is known as

Excess

All of the following actions can be describes as twisting EXCEPT

Explaining to client the advantages of permanent insurance over term and suggesting changing policies.

Which of the following is INCORRECT concerning Medicaid?

It is solely a federally administered program

The Florida Employee Health Care Access Act serves which of the following purposes?

It regulates group health insurance provisions provided by insurances or HMO to small employers.

Which of the following statements is TRUE concerning the Accidental Death Rider?

It will pay double or triple the face amount

If a dental plan is integrated, it is combined with what type of plan?

Medical

Can a group that is formed for the sole purpose of obtaining group insurance qualify for group coverage?

No, the group must be formed for a purpose other than obtaining group insurance

On a participating insurance policy issued by a mutual insurance company, dividends paid to policyholders are

Not taxable since the IRS treats them as a return of a portion of the premium paid

Which of the following documents must be provided to the policyowner or applicant during policy replacement?

Notice Regarding Replacement

A couple owns a life insurance policy with Children's Term rider. Their daughter is receiving the maximum age of dependent coverage , so she will have to convert to permanent insurance in the near future. Which of the following will she need to provide for proof of insurability?

Proof insurability is not required

Which rule would apply is an agent known as applicant is going to cash in old policy and use the funds to purchase new insurance?

Replacement rule

In a life settlement contract, whom does the life settlement broker represent?

the owner

Which of the following is NOT an enrollment period for Medicare Part A applicants?

Automatic enrollment

An insured pays $1,200 annually for life insurance premium. The insured applies this year's $300 worth of accumulated dividends to the next year's premium, thus reducing it to $900. What option this describe?

Reduction of Premium

An insured received a new life insurance policy 5 days ago, but after a closer inspection of the provisions, decided to return it to the insurer. What provision would allow the insured to return the policy for the full premium refund?

Free look

Which of following statements is NOT correct concerning the COBRA Act of 1985?

It requires all employers, regardless of the number or age of employees, to provide extended group health coverage