FL L&H
penalty for not disclosing change in name or address in 30 days (agent) 118
250 first offense
how long to retain insurance advertisements 116
3 years
agent has crime punishible by 1 year, how many days to notify insurance department?
30 days
medicare supplement free look period
30 days
An employee will be taxed on the cost of group life insurance paid by the employer if the amount of coverage exceeds
50000
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 life policies issued in this state, insurers are permitted to charge interest during the policy grace period for the number of days elapsing before the premium is paid. What is the maximum annual interest rate?
8%
claim is made in grace period, insurer can deduct how much interest (137)
8%
how long for proof of loss
90 days
If an insurance company offers Medicare supplement policies, it must offer which of the following plans?
A
if insurance company offers medicare supplement, myst offer (132)
A
intermediate care (LTC) 97
Not skilled, but greater than custodial. adult day care
In long-term care insurance, what type of care is provided with intermediate care?
Occasional nursing or rehabilitative care
another name for social security benefits
Old Age, Survivors, and Disability Insurance
Which document helps ensure that full and fair disclosure is provided to the recipient of a policy?
Outline of Coverage
sell variable life insurance policies, an agent must receive all of the following EXCEPT
SEC registration
Which of the following is NOT covered under Plan A in Medigap insurance?
The Medicare Part A deductible
When an insurer appoints an agent,
The insurer is bound by the agent's acts.
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 benefit paid when both beneficiaries were alive.
What is the purpose of a disclosure statement in life insurance policies?
To explain features and benefits of a proposed policy to the consumer
irs requires corridor or gap on which insurance 52
Universal life - A
Which of the following types of policies allows for a flexible premium and a variable investment component?
Variable universal life insurance
In which Medicare supplemental policies are the core benefits found?
all plans
Current assumption life
another name for interest-sensitive whole life insurance
All of the following information about a customer must be used in determining annuity suitability EXCEPT
beneficiary age
conditional contract 54
both parties are required to perform tasks
policy loans can only be made on policies with 48
cash value
what is a Special Risk Policy
covers unusual risks that are NOT normally included under Accidental Death and Dismemberment coverage
considered qualifying under cobra
divorce, death
Attending Physician's Statement
document describes an insured's medical history, including diagnoses and treatments
things insurer will not cover are stated in
exclusion clause
Circulating deceptive sales material to the public is what type of Unfair Trade Practice?
false advertising
hmo operate through- 112
group enrollment system. at place of employment or or member of association
flexible spending account 93
has limits on contributions
agreement between an insured and an insurer, where the insurer agrees to indemnify the insured for specific losses in exchange for a premium
insurance contract
medicare covers home nursing care when
it is only part of treatment for covered injury or illness
own occupation is
less restrictive
which two terms are associated directly with premium
level or flexible
universal life option A has
level premium, increasing cash value
minimum schedule in individual disability 70
monthly
does general disability cover accidents overseas residents?
no
In all health care plans under the Affordable Care Act (ACA), how many essential benefit categories are there?
10
free look term in fl
14 days
The continuation of coverage provision allows terminated employees to continue coverage under a group health insurance plan for up to
18 months
disability calculates income over 39
2 years
Which of the following is true regarding branch agency licensing?
Agent in charge must be licensed.
The LEAST expensive first-year premium is found in which of the following policies?
Annually Renewable Term
In an annuity, the accumulated money is converted into a stream of income during which time period?
Annuitization period
At what point must an Outline of Coverage be delivered?
At the time of application or upon delivery of the policy
Which of the following was designed to ensure continued access to affordable health insurance coverage for employees of small employers, their dependents, and other qualified beneficiaries not currently protected by COBRA?
Florida Health Insurance Coverage Continuation Act
Life income joint and survivor settlement option guarantees
Income for 2 or more recipients until they die.
Which of the following entities must approve all Medicare supplement advertisements?
Insurance Commissioner or Director
A guaranteed renewable disability insurance policy
Is renewable at the insured's option to a specified age.
In a group health policy, a probationary period is intended for people who
Join the group after the effective date.
A policy will pay the death benefit if the insured dies during the 20-year premium-paying period, and nothing if death occurs after the 20-year period. What type of policy is this?
level term
In a long-term care policy, pre-existing condition limitations
Must appear as a separate paragraph and be clearly labeled.
Equity indexed annuities seek
Seek higher returns
Shortly after a replacement transaction on a Medicare supplement policy, the insured decided to cancel the policy, but is unsure whether the free-look provision applies. The insured could find that information in the
notice regarding replacement
2 offices of the financial services comission
office of financial reg, office of insurance reg
Unilateral Contract
only insurer is bound to a duty
life settlement broker represents 59
owner
critical illness health insurance poliy
pays lump sum if heart attack or stroke
automatic premium loan
pays premium from cash value
what determines the cash value of a variable life policy
performance of the portfolio
key person taxation 45
premium not deductible, benefit tax free
business overhead taxation
premiums are deductible, benefits are taxed
Target premium
prevent universal life from lapsing
Shoppers guide must be presented
prior to application
plan where employer can contribute whenever a profit is realized
profit sharing plan
what do insurance companies use to protect from catastrophic losses 107
reinsurance
benefit of extended term 72
same face amount. highest amount of protection
insurance company not pay for suicide?
specific amount of time. after a while it becomes covered
When an applicant applies for Medicare supplement insurance, whose responsibility is it to confirm whether the applicant has an accident or sickness insurance policy in force?
the insurer
annuity period
time which money is converted into income payments
absolute assignment 63
transfer of all rights
how many times can a insurer have a person examined during a claim 60
unlimited
