Florida 2 15 Study guides, Class notes & Summaries

FLORIDA 2-15 INSURANCE LICENSE EXAM LATEST REAL EXAM 300 QUESTIONS AND CORRECT ANSWERS WITH RATIONALES |AGRADE|NEW!!

In a 3 partner cross-purchase plan, how many policies need to be purchased in order to protect each partner against the loss of any other partner? - correct answer 6 According to the NAIC Life Insurance Solicitation Model, when soliciting life insurance, a producer is required to provide a prospect with a ______ and a _______ specific to the product being marketed. - correct answer general buyer's guide; policy summary The Incontestable Clause states that the insurer cannot contest the va...

When life insurance proceeds are used to pay inheritance taxes and federal estate taxes, it is known as - correct answer Estate conservation In group insurance, the primary purpose of the Coordination of Benefits provision is to - correct answer Prevent overinsurance Which of the following statements is NOT true regarding health insurance policy provisions? - correct answer All additional provisions written by insurers are cataloged by their respective states. The policyowner has an opt...

Which of the following factors determines whether policy dividends will be paid on a participating policy? A. reserves and experience B. expenses and claims costs C. interest and benefits D. premiums and renewability - <<ANSWERS>>B. If expenses and claims costs are less than expected, dividends are likely to be paid. A licensed agent legally represents A. the insurer B. the applicant/insured C. the state insurance department D. himself or herself - <<ANSWERS>&gt...

Which of the following risks is insurable? A. pure risks B. gambling C. speculative risks D. investing - <<ANSWERS>>A. Only pure risks are insurable because they involve only the chance of loss. They are pure in the sense that they do not mix both profits and losses. Insurance is concerned with the economic problems created by pure risks. Buying insurance is one of the most effective ways of A. avoiding risk B. transferring risk C. reducing risk D. retaining risk - <...

ACC" refers to the type of disability that prevents someone from performing the job he was performing prior to the disability. - <<ANSWERS>>FALSE Which statement is CORRECT about the Department of Financial Services' right to examine an agent's records? - <<ANSWERS>>An examination can be conducted at any time to discover any unfair trade practices. Bill gives Jim a couple of tickets to a Florida Gators game to thank him for purchasing a policy. This is an exa...

ACC" refers to the type of disability that prevents someone from performing the job he was performing prior to the disability. - <<ANSWERS>>FALSE Which statement is CORRECT about the Department of Financial Services' right to examine an agent's records? - <<ANSWERS>>An examination can be conducted at any time to discover any unfair trade practices. Bill gives Jim a couple of tickets to a Florida Gators game to thank him for purchasing a policy. This is an exa...

ACC" refers to the type of disability that prevents someone from performing the job he was performing prior to the disability. - <<ANSWERS>>FALSE Which statement is CORRECT about the Department of Financial Services' right to examine an agent's records? - <<ANSWERS>>An examination can be conducted at any time to discover any unfair trade practices. Bill gives Jim a couple of tickets to a Florida Gators game to thank him for purchasing a policy. This is an exa...

When life insurance proceeds are used to pay inheritance taxes and federal estate taxes, it is known as - Estate conservation In group insurance, the primary purpose of the Coordination of Benefits provision is to - Prevent overinsurance Which of the following statements is NOT true regarding health insurance policy provisions? - All additional provisions written by insurers are cataloged by their respective states. The policyowner has an option to pledge the life insurance policy as co...

In a 3 partner cross-purchase plan, how many policies need to be purchased in order to protect each partner against the loss of any other partner? - 6 According to the NAIC Life Insurance Solicitation Model, when soliciting life insurance, a producer is required to provide a prospect with a ______ and a _______ specific to the product being marketed. - general buyer's guide; policy summary The Incontestable Clause states that the insurer cannot contest the validity of a life insurance pol...