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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


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