focused review
your client is sole proprietor and wishes to includes his family on a medical expense plan. now much of the cost of the medical expense plan can be deducted(since he is self employed )
100%
fl law requires that both individual and group health insurance policies provide coverage for a newborn child of a covered family member, other than the insured for a period of
18 months
what Florida law governs group health insurance provisions provided by insurers and HMOs to small employers
Florida employee health care access act
variable insurance and variable annuities are regulated by
SEC, FINEa and Departments of Insurance
all of the following are our of key person disability income policy except
benefits are considered taxable income to the business
a whole life policy is surrendered for a reduced paid up policy the cash value int he new policy will
continue to increase
a major medical expense policy would exclude coverage for all of the following treatments except
drug addiction
An agent's client needs additional insurance which the agent's own insurer cannot provide. The agent has to solicit additional coverage from another authorized insurer. This coverage is known as
excess
what does "level" refer to in level term insurance
face amount
which is true about the cash surrender nonforfeiture option
funds exceeding the premium paid are taxable as ordinary income
which of the following is true of level term insurance
it is temporary protection
which of the following is true regarding the annuity period
it may last for the lifetime of the annuitant
when replacing life insurance, the duties of the replacing insurance company include all of the following except
maintaining a copy of the notice regarding replacement and all sales proposals used for at least 5 years
all fo the following are excluded from coverage in an individual health insurance policy except
mental illness
an example of an alien insurer doing business in this state is one formed under the laws of
mexico
an insurance company that is owned by the policyholders is called
mutual insurer
with respect to the entire contract clause in health policies who has the authority to make changes to an existing policy
only an executive officer of the company
which of the following provisions is mandatory for health insurance policies
physical examination and autopsy
Policies written on a third-party ownership basis are usually written to cover:
policyowners minor children or business asscoiates
which of the following is not mandatory under the uniform provisions law as applied to accident and health policies
probationary period
which of the following is among the regulations set forth by the Florida replacement rule
providing a written comparison and summary statement
An agent's appointment has been denied. Which of the following is true?
state taxes may be refunded upon a written request
why does Florida have state laws regulation medicare supplement insurance
states cannot enforce and prosecute federal laws
In contrasting stock insurers with mutual insurers, which statement is true?
stock insurers are owned by the shareholders and issue nonparticipating policies
children riders attached to whole life policies are usually issued as what type of insurance
term
all of the following statements about indexed whole life insurance are correct except
the dearth benefit is not guaranteed
what happens to the face amount of a whole life policy If the insured reaches the age of 100
the face amount is paid to the insured
a father own's a life insurance policy on his 15 year old daughter. the policy contains the optional payor benefit rider. if the father becomes disabled, what will happen to the life insurance premiums
the insureds premiums will be waived until she's 21
The expense for an autopsy covered under the physical exam and autopsy provision is paid by
the insurer
which of the following is true about nonforfeiture values
they are required by state law to be included in the policy
the relation of earnings to insurance provision allows the insurance company to limit the insureds benefits to his/her average income over the last
24 months
the patient protection and affordable care act mandates that insurers provide coverage for adult children of the insured up to the age of
26
a life insurance policy qualifies a MEC if the amount of premium paid exceeds the amount that would have provided paid-up insurance in how many years
7 years
if an insurance company offers medicare supplement policies it but offer which of the following plans
A
under a group health insurance plan, benefits may be extended to all of the following dependents except
a 27 year old married daughter who is attending college and lives with her parents
which of the following insurance products will be subject to the regulation on life insurance solicitation
a term life policy
which of the following best describes fixed-period settlement option
both the principal and interest will be liquidated over a selected period of time
which dividend option will increase the death benefit
paid-up additions
The president of a company is starting an annuity and decides that his corporation will be the annuitant. Which of the following statements is true?
the annuitant must be a natural person
in life insurance which of the following is not required to have an insurable interest in the insured
the beneficiary
if an insured continually uses the automatic premium loan option to pay the policy premium
the policy will terminate when the cash value is reduced to nothing
every medicare supplement policy must have a notice to buyer on the front page that states which of the following
this policy may not cover all of your medicare expenses
What kind of policy allows withdrawals or partial surrenders?
universal life
which type of life insurance policy allows the policyowner to pay more or less than the planned premium
universal life
an insured owns 50k whole life policy. at age 47 the insured decides to cancel the policy and exercise the extended term option for the cash values, which is currently 20k. what would the face amount of the new term policy be
50k
which of the following elements of an insurance contract requires paying premium and providing a statement of good health
consideration
maternity benefits include all of the following except
coverage without cost sharing
a waiver of premium provision may be included with which kind of health insurance
disability income
An insured is involved in an accident that renders him permanently deaf, although he does not sustain any other major injuries. The insured is still able to perform his current job. To what extent will he receive Presumptive Disability benefits?
full benefits
If a life policy allows the policyowner to make periodic additions to the face amount at standard rates, without proving insurability, the policy includes a
guaranteed insurability rider
in order for an alumni association to be eligible to purchase group heath insurance for its members all of these statements must be true except when the associaton
has been active for five years min
under what circumstances will the contingent beneficiary receive the death benefit
if the primary beneficiary dies before the insured
which of the following is not true regarding a deferred annuity
income payments began within 1 year from the date of purchase
which of the following is not true regarding a noncancellable policy
insurer can increase the premium above what is stated in the policy if claims experience is greater than expected
which of the following statements is true regarding an agents report during the policy application process
it provides the agents personal observations concerning the proposed insured
the reduction of premium option uses the dividend to reduce
next years premium
dividends received on participation life insurance policies are
not taxable bc they are a return of unused premiums
Which nonforfeiture option provides coverage for the longest period of time?
paid up addition
A core Medicare supplement policy (Plan A) will cover all of the following expenses EXCEPT
part A deductible
A participating insurance policy may do which of the following?
pay dividends to the policy owner
Todd has been informed that he has a hernia which requires repair. When Todd researches the cost, he learns that his insurance plan will cover 200 points worth of surgical expenses. Each point represents $10, which means that $2000 of his surgery will be covered by his insurance plan. What system is Todd's insurance company using?
relative value
which of the following is the closest term to an authorized insurer
admitted
When an annuity is written, whose life expectancy is taken into account?
annitant
the death protection component of universal life is always
annually renewable term
which of the following not trigger the payment of accelerated death benefits
being permanently disabled
all of the following statements concerning accidental death and dismemberment coverage are correct except
death benefits are only paid if death occurs within 24 hours of the accident