Part 4

All of the following information must be shown on every insurance application in Florida EXCEPT the:

Agents office address and telephone number.

In a Disability Income policy, a statement that excludes coverage for back injuries is known as:

An impairment rider.

A customer surrenders a recently issued whole life policy and requests proceeds to be made payable to an unrelated third party. This would be a red flag potential violation of:

Anti-money laundering rules

Which of the following policies provides Accidental Death benefits to airplane passengers?

Blanket Accident.

if the contract values of an existing policy are used to purchase a new policy with the same insurer, this is known as:

Churning.

Before an informal agreement becomes a binding contract, which of the following requirements MUST be met?

Consideration must be provided by one of the parties to the contract.

An applicant for an Accident & Health insurance policy must answer all questions on the application & it for which of the following reasons?

The application statements and representations are part of the consideration for issuing a policy.

A company wants to purchase a Key Employee Life policy. Which of the following statements is INCORRECT?

The employee names the beneficiary.

A producer is required to register with the Financial Industry Regulatory Authority (FINRA) in order to sell which of the following policies?

Variable Life.

The Payor clause of an insurance policy on a juvenile provides which of the following benefits?

a waiver of premiums if the payor becomes disabled.

If an insured leaves the primary area of medical coverage and seeks medical care, the insured first needs to:

contact the insurer to obtain prior approval for the medical service.

in life insurance, "Reduced Paid-Up" as an example of a:

non-forfeiture option.

The coverage provided by a Disability income policy that does NOT provide benefits for losses occurring as the result of the insurance employment is called:

nonoccupational coverage.

The purpose of the Medical Information Bureau (MIB) is to:

share medical data among member companies. health

An agent must disclose when replacing or exchanging an annuity contract:

that there may be tax consequences as a result of the purchase.

When soliciting insurance for insurance companies, agents represent:

their insurance companies.

The grace period for a life insurance policy is never less than:

30 days.

Agents can help perspective insureds understand and purchase the most appropriate product by delivering:

A buyer's guide.

Disability income insurance on key employee would typically insure a(n):

Company executive.

Which of the following types of group Term Life insurance plans does Z Corporation offer if its employees share the premium cost?

Contributory.

Which statement about conversion privileges in Group Life policies sold is CORRECT?

Conversion at a regular rate on attained-age basis without a medical exam is a standard provision.

Which of the following expenses are NOT covered by Medicare Part A and Part B?

Dental services.

K has An Individual Comprehensive Major Medical policy, and the premiums are payable on the first day of each month. K forgets to make the May payment and on June 20, is hospitalized and files a claim. In this situation, the insurance company probably will:

Deny the claim.

During the licensing application process, the Department will NOT request which of the following?

Drug test.

Agents marketing variable life insurance MUST be licensed and appointed as a life and variable contract agent, and a:

Financial Industry Regulatory Authority (FINRA) registered.

X owns a Disability Income policy with a 30 day Elimination. That provides total disability benefits only. X becomes ill on May 1 and returns to work on May 15. X then becomes disabled from an accident on June 1 and the disability lasts until December 1 of the same year. Under these circumstances, X is eligible to receive benefits beginning on:

July 1

An insurance company receives a prepaid application for an Individual Disability Income policy. One week later, it receives the Medical Information Bureau (MIB) report indicating that the applicant had a heart attack two years ago, although this was not disclosed on the application. In this situation, the company would most likely take all of the following actions EXCEPT:

Notify the MIB that coverage is denied.

Families with children covered by the Florida Healthy Kids Corporation program pay:

Only a portion of the premium.

If an insured's age is understated by 10 years on a life insurance policy and dies after the contestable period, the insurance company will:

Pay the amount that the premium would have purchased at the correct age.

In Florida, insurers are required to issue an additional lapse notice after the applicable statutory grace period has expired for policyholders of what age?

Persons who are 64 years of age or older.

A Medicare Supplement policy's Outline of Coverage MUST include the:

Policy's exceptions and limitations.

Which of the following programs pays benefits that are based on a percentage of an individual's Primary Insurance Amount (PIA)?

Social Security Disability Income

Replacement of one insurance policy with another is:

Strictly regulated and requires full disclosure.

Which of the following types of insurance policies would provide the greatest amount of protectionfor a temporary period?

Term.

When an insured reinstates a policy, which of the following statements is INCORRECT?

The insured forfeits the right to use the automatic premium loan provision in the future.

Medical Expense policies usually EXCLUDE coverage for claims resulting from treatment of:

intentionally self-inflicted injuries.