FL insurance
a married couple owns a permeant policy which covers both of their lives and pays the death benefit only upon the death of the first insured which policy is that
Join life policy
Every insurer marketing Long-Term Care insurance must establish marketing procedures to ensure all of the following EXCEPT
LTC policies are marketed effectively to prospective insureds
The provisions which prevents the insured from brining any legal actions against the company for at least 60 days after proof of loss is known as
Legal actions
An insured has life insurance policy that requires him to only pay premiums for a spefic number of years until the policy is paid up
Limited-pay life
all of the following statements concerning Medicaid are correct EXECPT
Medicaid is a state funded program that provides health care to person over age 65 only
Using class designation for beneficiaries means
Naming beneficiaries as a group
Any policy of health insurance that provides coverage for maternity care must also cover the services of all of the following EXCEPT
None of the above, ALL are True
If one takes social secutiry retirement benefits at age 62, what needs to be done at age 65 to qualify for medicare?
Nothing
During replacement of life insurance a replacing insurer must do which of the following?
Obtain a list of all life insurance polices that will be replaced
The dividend option in which the policyowner uses dividends to purchase a term policy for one year is referred to as the
One-year term option
Which document helps ensure that full and fair disclosure is provided to the recipient of a policy?
Outline of coverage
Medicare Part A service do NOT include which of the following
Outpatient hospital treament
Tritonal IRA contributions are tax deductible base on which of the following
Owner income
The part of medicare that helps pay for inpatient hospital care inpatient care in a skilled nursing factility home health care hospice care is known as
Part A
Which of the following will be included in policy summary
Premium amounts an surrender values
Underwriting is a major consideration when an insured wishes to replace her current policy for all of the following reasons EXCEPT
Premiums always stay the same
underwriting is a major consideration when an insured wishes to replace her current policy for all of the following reasons EXCEPT
Premiums always stay the same
Which of the following is correct concerning the taxation of premiums in a key person life insurance policy?
Premiums are not tax deductible as a business expense
When an insurer terminates an agent appointment the insurer must do all of the following EXCEPT
Provided a 30-day advance notice to the commissioner
Which of the following answers does NOT describe the principal goal of a preferred provider organzation?
Provided medical service only from physicians in the network.
Which of the following is among the regulations set forth by the Florida replacement rule
Providing a written comparison and summary statement
what method do insurers use to protect themselves against catastrophic losses?
Reinsurance
Which rule would apply if an agent knows an applicant is going to cash in an old policy and use the funds to purchase mew insurance?
Replacement Rule
Which of the following types of insurers is owned by a stockholders
Stock
a producer is helping a married couple determine the finacial needs of their children in the even one or both should die prematurely. this is a personal use of life insurance known as
Survivor Protection
Which of the following is a key distinction between variable whole life an variable universal life products
Variable whole life has guaranteed death benefit
Under what conditions are group disability income benefits recived by an employeee NOT table as income?
When the benefits received are equal or less than employee percentage of the contributions
When would a 20-pay whole life policy endow?
When the insured reaches age 100
Which of the following statements regarding the taxation of modified endowment contracts is False?
Withdrawals are not taxable
The two types of assignments are
absolute and collateral
Which of the following is NOT coverd under a long term care policy?
acute care in a hospital
The Current interest rate on an equity indexed annuity is often based on
an index like Standard & Poor's 500
The Full premium was submitted with the application for life insurance and the policy was issued two weeks later as requested. when does the policy coverage become effective
as of the application date
Social security disability definition includes all of the following except
disability expected to last for at least 6 months
as it pertains to group health insurance COBRA stipulates that
group coverage must be extended for terminated employees up to a certain period of time at former employees expense
Which of the following entities has the authority to make changes to an insurance policy
insurers executive officer
Which of the following statements is not true concerning Medicaid
it consists of 3 parts Part A. Part B. Part C.
What is the benefit of choosing extexned term as nonforfeiture option?
it has the highest amount of insurance protection
in a group health policy a probationary period is intended for people who
join the group after effective date
In a group health policy a probationary Is intended for people who
join the group after the effective date
A participating insurance policy may do which of the following?
pay dividends to the policy owner
which of the following is another term for accumulation period of an annuity
pay-in period
underwriting is a major consideration when an insured wishes to replace her current policy for all of the following reason EXECPT
premiums always stay the same
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
What is the status of limitation on lawsuits for health insurance policies?
5 years
An insured owns a $50,000 whole life policy. At age 47, the insured decides to cancel his policy and exercise the extended term option for the policy's cash value, which is currently $20,000. What would be the face amount of the new term policy?
$50,000
An insured has a primary group health plan an excess plan each covering losses up to 10,000 the insured suffer a lost of 15,000
$5000
What percentage of company employees must take part in a noncontributory group life plan
100%
At what age are individuals become ineligible for Florida healthy kids coverage?
19
what is penalty tax for nonqualified distribution from health saving account?
20%
In order to maintain an insurance license. an agent licensed for less than 6 years will need to salsify floridas continuing education requirement of
24 every 2 years
in the even a policy lapses due to nonpayment of preimum
45 Days
Ray has an individual major medical policy that requires a coinsurance payment. Ray very rarely visits his physician and would prefer to pay the lowest premium possible. Which coinsurance arrangement would be best for Ray?
50/50
Most polices will pay the accidental death benefits as long as the death caused by the accident occurs within
90 Days
Which of the following insurance products will be subject to the regulations on life insurance solicitation?
A term life policy
If the insured under a disability income insurance policy changes to a more hazardous occupation after the policy has been issued, and a claim is filed, the insurance company should do which of the following?
Adjust the benefit in accordance with increased risk
Which of the following is another term for an authorized insurer?
Admitted
The premium charged for exercising the Guaranteed Insurability Rider is based upon the insured's
Attained Age
Which of the following is not required to Stated in the outline of covers provided with a long-term care policy
Basic information about supplementary policies
All of the following apply to short term disability plan EXCEPT
Both group and individual plans are renewable
if an employee is accepted into a group insurance plan which status will the employee have?
Certificate holder
An insured pays an annual premium to his insurer in return the insurer promiese to pay benefits in accordance with terms of the contract. This is called
Consideration
The Gatekeeper of an HMO helps
Control specialist costs
Which of the following is NOT an essential element of an insurance contract?
Counteroffer
Which policy component decreases in decreasing term insurance?
Face amount
an insurance company has published a brochure that inaccurately portrays the advantages of a particular insurance policy
False Advertising
The automatic premium loan provisions is activated at the end of the
Grace period
Which of the following types of LTC is NOT provided in an institutional setting?
Home health care
Which of the following types of LTC is not provided in an institutional setting?
Home health care
which of the following when attached to a permant life insurance policy, allows tge oikicyowner to customize the policy to provide an additonal amount of temporay insurance on the insured or allow amounts of temporay insurance to cover other afmily members?
Term rider
Which statement is not true regarding underwriting group health insurance?
The Group is assessed Indivdually for insurability
Which of the following is TRUE regarding variable annuities?
The annuitant assumes the risk on investments
Which of the following dates must be contained in a policy summary?
The date the summary was prepared
How do employer contributions to health saving accounts affect the insured taxes?
The employer contributions are not included in the individual insures taxable income
which statement regarding qualification for social security disability benefits is NOT true?
The individual must be at least 65 years old
when a life insurance policy was issued the policyowner designated a primary and contingent beneficiary several years later both the insured and the primary beneficiary died
The insured contingent beneficiary
All of the following must be presented on a small group health insurance identification care EXCEPT
The insureds address
When an insurer appoints an agent
The insurer is bound by the agent's acts.
in a life settlement contract whom does the life settlement broker repsent?
The owner
All of the following are true about variable products EXECPT
The premiums are invested in the insurer general account
In accordance with the Code of Ethics agents must provide a completed application to
The prospective insured and the insurer
an insured has chosen joint and 2/3 survivor as the settlement option. What does this mean to the beneficiaries
The surviving beneficiary will continue receiving 2/3 of the benefits paid when both beneficiares were alive
How are contributions to a tax-sheltered annuity treated with regards to taxation?
They are not included as income for the employee, but are taxable upon distribution
Which of the following is true regarding Medicare supplement policies?
They must be guaranteed renewable
all of the following are requirment for life insurance illustrations Execpt
They must be part of the contract
An insured notifies the insurance company that he has become disabled. What provision states that claims must be paid immediately upon written proof of loss?
Time of payment of claims
Under what circumstances can an agent appointment be transferred to another person?
Under not circumstances
Which characteristic does NOT describe managed care?
Unlimited access to providers
A person insured under a group life insurance policy can make an assignment of all or any part of the incident of ownership conferred on the insured by the policy or by law to any of the following except
the policy holder
which of the following is TRUE about nonforfeiture values?
they are required by state law to be included in the policy
Long-term policies require that in addition to the application at least one person must be designated in the policy?
to receive notice of policy lapse or termination
