Life practice questions (florida)All of the following provisions must be included in group life insurance policies issued in this state EXCEPT:
Which of the following situations is considered rebating?
A producer returns a portion of the commission to an insured.
Which of the following statements about replacement of existing life insurance is CORRECT?
Both the applicant for insurance and the insurance producer must sign a statement stating whether existing insurance is to be replaced.
Which of the following statements about Credit Life insurance is CORRECT?
It may be provided through a group or individual policy.
The Life Insurance and Annuity Replacement Rule is designed for which of the following purposes?
To ensure that policyowners receive adequate information on which to base a replacement decision
The major difference between a mutual insurance company and a stock insurance company is the:
form of ownership each company is permitted
An individual may obtain a temporary insurance producer's license without passing the licensing examination if the individual:
is a deceased licensed producer's next of kin
All of the following elements must be included in a policy summary given to a purchaser of life insurance EXCEPT the:
names and addresses of each beneficiary
Controlled business is defined as insurance a producer writes on all of the following individuals EXCEPT the producer's:
neighbors
All of the following provisions must be included in group life insurance policies issued in this state EXCEPT:
Suicide
Which of the following persons is authorized to enforce state insurance laws?
The Insurance Commissioner
The Insurance Commissioner may revoke or suspend a producer's license if the producer:
has forged another person's name on an insurance application
In order for nonresident applicants to be eligible for an insurance producer license in this state, they MUST:
hold a like license in another state
A Variable Life contract must contain all of the following provisions EXCEPT:
Accidental Death
The Insurance Commissioner may examine the records of an insurance company at which of the following times?
At any time the Insurance Commissioner sees fit
Which of the following statements is CORRECT about insurance producers who fail to satisfy the continuing education requirements?
Their licenses will be terminated.
Which of the following terms may be used in advertisements for life insurance?
Universal Life Plan
An insurance company doing business in this state must operate under:
a certificate of authority
An insurance company formed under the laws of a state other than this state is known as:
a foreign company
An individual who, for the purpose of collecting premiums, acts for another in negotiating a contract of insurance is considered to be:
a producer
An insurance producer who makes false statements that harm the reputation of another insurance company is guilty of:
defamation
A producer may be guilty of misrepresentation if the producer:
tells an insured the deductible on a policy is less than it actually is
All of the following groups are considered eligible for group life insurance EXCEPT:
volunteer religious groups
Which of the following types of insurance policies is EXEMPT from the Life Insurance and Annuity Replacement Rule?
Group Life
In a life policy, a special benefit that prepays a portion of the death benefit during the lifetime of an insured in the event of a specified illness is called:
an acceleration of life insurance benefit
An individual appointed by an insurance company to solicit applications for a policy of insurance on its behalf is known as:
an insurance producer