Babesssss
What is Florida's definition of life insurance replacement
A transaction in which a new policy is bought and the old policy is terminated
A monthly premium health insurance policy must provide a grace period of at least____ days
10
A life policy loan in Florida cannot charge a fixed rate of interest higher than blank percent
10%
A long-term care policy must offer a minimum benefit period of how many months?
12
Florida requires that coverage of newborn speaking from the moment of birth and continues for
18 months
And insurance company can contest a life insurance contract due to application fraud within
2 years
A person insured under a health policy is required to give the insurance company a notice of claim within how many days after a covered is lost
20
Employees with less than_____ employees are affected by Florida health insurance coverage continuation act (mini cobra)
20
Asians that have been license for less than six years must complete hours______ of continued education every two years
24
How many hours of continuing education must a newly licensed agent complete every two years
24
A free look period for all qualified long-term care policies sold in Florida is ___ days
30
Within how many days after policy delivery can a Medicare supplement policy be returned for 100% premium refund
30 days
A group plan was recently terminated in Florida how many days are covered individuals guaranteed coverage after the group plan is terminated
31 days
In Florida, a health policy that is paid on a quarterly basis requires a grace period of
31 days
The conversion. For a terminated employee to overt group live coverage to an individual plan is
31 days
How many days notice to the policyholder is required for any health ensure that wishes to cancel the health insurance policy
45 days
Insurance companies must act on an accident and health insurance application for reinstatement within how many days
45 days
The agents license will be terminated if a certain period of time elapses without being appointed how long is this period of time
48 months
Florida requires that an insurance agent must complete hours _____of continued education on the subject of law and ethics every two years
5
Every resident agent must have maintained at their place of business as usual and customary records pertaining to transactions under their license for at least how long
5 years
What is the maximum percentage of controlled business an agent may produce
50%
An application for Medicare supplement coverage may not be denied if the application was submitted within ______ Months after the application reaches the age 65
6
The waiting period for a pre-existing condition under a Medicare supplement policy may not go beyond
6 months
The waiting period for a pre-existing condition under a Medicare supplement policy may not go beyond _____ months
6 months
According to Florida law an additional laps notice must be issued after the standard grace period has expired for policy owners age
64 Years or older
And ensure license to conduct Business in Florida but domiciled in New Jersey is called
A foreign company
What do families pay that are covered by the Florida Healthy Kids Corporation?
A portion of the premium
J owns a business and has a group life policy covering her employees J decides to cancel the policy by letting it labs on the renewal day what action must be taken
All of the employees must be notified of the cancellation either by the insurance company or the employer
The financial service commission may hold hearings for
Any reason deemed necessary
In Florida that underwriting and insurance of a master group health policy requires that all employees
Are eligible to participate regardless of their individual health history
When is it acceptable to share commission with another agent
As long as both agents are licensed for the same lines of insurance
Which of the following acts is An agent not authorized to do on behalf of the insure
Authorize claim payments
What option is not a nonforfeiture option
Automatic premium loan option
OK is insured under a group life insurance policy K is considered to be a
Certificate holder
The bureau of unclaimed properties is over seen by the
Chief financial officer
______ Can be defined as using the contract value of an existing policy to purchasing new policy with an Existing ensure
Churning
One definition of replacement is the actor of replacing an existing insurance policy with another replacement is
Closely regulated and requires full disclosure
In Florida, which agency is responsible for the rehabilitation or liquidation of insurers?
Department of Financial Services (DFS)
Any violations of the Florida financial institution code may be investigated by the
Department of financial services DFS
In Florida and ensure domiciled Aunt Inc. in this state is called a
Domestic company
S takes out a health insurance policy which contains a provision that states that the agent does not have the authority to change the policy or waive any of its provisions which health policy provision is this
Entire contract
Individual life insurance proceeds are Exempt from predators claims when they are payable to any of the following entities EXCEPT the insureds
Estate
All of these are prerequisites for becoming a licensed agent except
Graduating from high school
What policy is exempt from replacement regulations
Group life policy
If at the time of an insuranceds death the insurance company discovers that the insurance agent was missed stated on the application for life insurance company will most likely
Hey the policy proceeds in the amount of premiums would have been purchased at the insureds actual age
What situation would a dependent handicap child not be covered under a family health policy
If the premiums from the handicapped child are not paid
All of the provisions that must be included in the life insurance policy are
Incontestability provision entire contract provision and miss statement of age provision
Multiple employer welfare agreement provides what type of benefits
Insurance
Which areas of state regulations are protected by the savings clause in ERISA
Insurance banking and securities
Which of the following situations are not subject to Florida life insurance laws
Insurance companies' day-to-day operations
Credit Life Insurance
Insurance issued on a debtor to cover outstanding balance on installment loans
A clergy ling to Florida law what statement accurately describes and admitted mail order insurance company
It may solicit insurance business by mail without the assistance of a licensed agent
As said protection can be provided by a long-term care partnership policy if the policy haul qualifies for
Medicaid
An agent must give a prospective insured an outline of coverage when taking an application for
Medicare Supplement policy
Under an individual disability policy in Florida what is the minimum schedule of time in which claims must be made to the insured
Monthly
What are adjustable rates for life policy loans in Florida based on
Moody's corporate bond index
What professional organization has its code of ethics incorporated into Florida law
National Association of Insurance and Financial Advisors (NAIFA)
In Florida what practitioners do not receive payments from health insurance policies
Naturopath
Under which circumstances may a licensed agent in Florida represent an unauthorized entity
Never
According to Florida law a group life insurance policy requires a minimum of how many insureds
No minimum
In Florida the entity that oversees complaints against life insurance agents is called the
Office of financial regulation
What NAV provides the insurance policy forms used in Florida
Office of insurance regulation ( OIR)
Upon reaching the limiting HA disabled child may extend their health insurance coverage as a dependent
Only if the child is in capable of employment and chiefly depends on the policy owner
What types of insured our life insurance companies allowed to make rate discrimination against
People that smoke
What is not required in the outline of coverage for a health insurance policy
Projection of the policies future cost
What is the purpose of the insurance guaranty fund association
Protects policyowners against insolvent insurance companies
The agent who Sells the new insurance policy needs to
Provide an insured with the proper disclosure concerning the replacement of an insurance policy
The department of financial services serves as the receiver of any ensure placed into
Receivership
Under Florida law what provisions are required in a Medicare supplement policy
Required to complete a suitability form provide a free look period of 30 days an issue a guarantee
A long-term care lapse notice must be delivered to both that applicant and_____
Secondary addressee
An application for Medicare supplement coverage may not be denied by there in sure if the application was submitted within _____months after the applicant reaches the age of 65
Six
What is required in the Florida employee health care access act
Small group benefit plans are to be issued on a "guarantee-issue" basis
When replacing one insurance policy with another it is
Strictly regulated and requires full disclosure from both the agent and they're replacing insurance company
An agent selling Medicare Supplement policies must provide every applicant with a(n)
Suitability form
An agent selling Medicare supplement policies must provide every applicant with
Suitability form
What required disclosure helps a buyer choose the amount and the type of insurance to buy and how do you save money by comparing cost of similar policies
The buyers guide
When an existing life insurance policy is being re-issued with a reduction in cash value the agent must sign the
The notice regarding replacement of life insurance or annuity
Disclosure standards require that _____ Be delivered with a Medicare supplement policy
The outline of coverage
What must be included in a Medicare supplement policies outline of coverage
The policies limitations and exceptions
The replacement of life insurance and annuity regulations is designed to protect the interests of
The policy owner
When replacing or exchanging an annuity the Asian must've closed to the annuitant
The possible tax ramifications as a result of the transaction
The outline of coverage for Medicare supplement policy must be given to the applicant at
The time of application
If an insured converts his life policy to a paid up insurance and buys new insurance
The transaction is considered replacement
T is an employee covered under a group life policy if tease employment is terminated the conversion privilege gives to the right to convert
To an individual policy upon employee termination
In agent that sells_____ Life insurance must be registered with the financial industry regulatory authority FINR
Variable
An example of an unfair trade practice is
an agent making a material misrepresentation to the insured
An individual covered under a group life insurance policy is considered to be a
certificate holder
Which of the following areas of state regulation is not protected by the savings clause and ERISA
commerce
The life insurance and annuity replacement regulation defines the replacement as
exchanging an existing policy for a new policy
The Florida employee health care access act was established to make
group health insurance available to employers with up to 50 employees
A multiple employer welfare arrangement MEWA provides what type of benefits
insurance
In Florida an element of an insurance transaction would be
issuing an insurance contract
In Florida agents are allowed to engage in rebating if
offered to all insureds in the same actuarial class
Replacement regulations apply to which of the following types of contracts
ordinary life
According to Florida law group life insurance conversion privileges must not
require evidence of insurability
Association plans that are designed to provide health benefits to their members are regulated by the state because
they are insured by an authorized insurer
T is an employee covered under a groove life policy if tease employment is terminated the conversion privileges to the right to convert
to an individual policy upon employment termination
A written agreement to provide a life insurance policy holder immediate cash in exchange for the sale and transfer of a life insurance policy is
viatical settlement
A life insurance policy owner may sell their policy to ______ In order to receive a percentage of the policies face value
viatical settlement provider