215

Sliding

Charging an applicant for ancillary coverage without their knowledge or advising that such additional coverage is required by law with the purchase of insurance.

what is the purpose of cobra

To provide continuation of coverage for terminated employees

If an insurance company offers Medicare supplement policies, it must offer which of the following plans?

A

Which of the following is available to employers of all sizes?

HRAs

Consideration

Insured offers one thing, Insurer offers another

Subrogation

The substitution of a third person in place of a creditor to whose rights the third person succeeds in relation to the debt

"illustration" in a life policy refers to?

a presentation of nonguaranteed elements in a policy

premiums paid for life insurance are not tax deductible except when

an employer buys a group policy

least expensive first year premium policy

annually renewable term

in order to be eligible for long term care you must

be unable to preform some activities of daily living

An insurance contract requires that both the insured and the insurer meet certain conditions in order for the contract to be enforceable. What contract characteristic does this describe?

conditional

According to the entire contract provision, what document must be made part of the insurance policy?

copy of original application

A waiver of premium provision may be included with which kind of health insurance policy?

disability income

The provision that states that both the printed contract and a copy of the application form the contract between the policyowner and the insurer is called the

entire contract

The Office of Insurance Regulation is responsible for all of the following insurer activities EXCEPT

issue of securities

Under an individual disability policy, the MINIMUM schedule of time in which claim payments must be made to an insured is

monthly

Are premiums paid for personally owned disability policies tax deductible

no

is workers compensation a basic type of health insurance plan?

no

A rider attached to a life insurance policy that provides coverage on the insured's family members is called the

other-insured rider

what is correct concerning the taxation of premiums in a key person life policy

premiums are not tax deductible as a business expense

What method do insurers use to protect themselves against catastrophic losses?

reinsurance

Which benefit is based on the person's Primary Insurance Amount (PIA)?

social security

Which benefit is based on the person's Primary Insurance Amount (PIA)?

social security daily benefit

what happens if an agents appointment is denied

state taxes may be refunded upon a written request

The insuring clause does not state what?

the method of premium payment

The Florida Health Insurance Coverage Continuation Act requires insurers that sell health plans to small employers to offer in those plans a right to elect to continue coverage, without providing evidence of insurability, to employees who lose their coverage and are unable to replace it. The premium rate for this coverage may NOT exceed

115% of the regular group rate.

All of the following are examples of third-party ownership of a life insurance policy EXCEPT

An insured borrows money from the bank and makes a collateral assignment of a part of the death benefit to secure the loan.

A father purchases a life insurance policy on his teenage daughter and adds the Payor Benefit rider. In which of the following scenarios will the rider waive the payment of premium?

If the father is disabled for more than 6 months

Attending Physician's Statement (APS)

Includes medical history, including diagnosis and treatments

Which of the following terms means a result of calculation based on the average number of months the insured is projected to live due to medical history and mortality factors?

Life expectancy

Medicare doesn't cover what?

Long Term Care

Which Universal Life option has a gradually increasing cash value and a level death benefit?

Option A

Medicare Part A doesn't include?

Outpatient Hospital Treatment

What is not required for life insurance illustrations

They must be part of the contract

Commingling

failing to separate premium monies from his own personal fund

No insurance policy form can be issued, delivered, or used in this state unless it has been

filed with an approved by the office of insurance regulation

What is true about the cash surrender nonforfeiture option

funds exceeding the premium paid are taxable as ordinary income

where is skilled care provided?

in a institutional setting

Annually renewable term policies provide a level death benefit for a premium that

increase annually

what does not have to be disclosed in a long term care policy

the amount of premiums due

Under a disability income policy, if someone changes to a more hazardous occupation after the policy is issued, what happens

the benefit is adjusted in accordance to the increased risk

When an HMO knowingly makes any misleading representations, incomplete or fraudulent comparisons for the purpose of inducing any person to lapse, forfeit, terminate, surrender or convert any insurance policy or contract with another insurance company or HMO, they are in violation of the unfair trade practice of

twisting

Which type of misrepresentation persuades an insured, to their detriment, to cancel, lapse, or switch policies from one to another?

twisting

when does a survivorship life policy pay the benefit

upon the last death

Health insurance Grace Period

weekly payment= 7 days monthly payment= 10 days other payment= 31 days *free look period =30 days

If a licensee changes his or her residence address, within how many days must the department be notified?

30

How often must domestic insurance companies be examined by the Chief Financial Officer in Florida?

5 years

Max period for a temporary license

6 months

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

60 days

Most policies will pay the accidental death benefits as long as the death is caused by the accident and occurs within

90 days

Under the uniform required provisions, proof of loss under a health insurance policy normally should be filed within

90 days of loss

Rebating

Any inducement offered in the sale of insurance products that is not specified in the policy.

Another term used to describe "no deductible" is

First-dollar basis

what insurance is issued on those groups whose members are constantly changing

blanket

When an insured makes truthful statements on the application for insurance and pays the required premium, it is known as which of the following?

consideration

In the event of a loss, business overhead insurance will pay for

rent

What helps a universal policy from lapsing

target premium

the interest earned on policy dividends are

taxable

Whose responsibility is it to determine if all of the questions on an application have been answered?

the agent

who is responsible for agent licensing and administrative supervision

the office of insurance regulation

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

the owner

Producer's Fiduciary Duty

the trust that a client places in a producer in regards to handling premium

All of the following are requirements for life insurance illustrations EXCEPT

they must be apart of the contract

Aleatory

unequal amounts are exchanged