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The Patriot Act was adopted in 2001 to help
The term “Compliance Date” refers to;
Licensees are required to archive information pertaining premiums collected for a minimum of,
How many days do licensees have to notify the DFS of a change in phone number (OR) e-mail address?
The Chief Financial Officer is the head of the,
The Department of Financial Services is responsible for overseeing all the following EXCEPT,
The Office of Insurance Regulation (OIR) is responsible for,
Which of the following best expresses how insurer appointments are handled?
What is the penalty for an agent who intentionally conducts the business of insurance without proper authorization?
Which entity acts as the criminal justice agency for the Florida Insurance Marketplaces and includes the Bureau of Fire and Arson Investigations?
Which of the following entities evaluates the financial solvency of an insurer to ensure they’re capable of paying claims?
A statement made by the insurance applicant which is GUARANTEED to be TRUE is called a,
Spreading harmful rumors about another individual or entity is an Unfair Business Practice referred to as,
Tom’s family owns a trucking company. Tom gets an insurance license to manage the policies associated with the family business. If Tom never sells policies to anyone outside of the trucking company, he be guilty of,
When an agent receives a request for information from the Division of Customer Service, how long do they have to respond?
Which of the following is NOT a regulatory responsibility of the Office of Insurance Regulations?
Which of the following entities has investigators who are sworn law enforcement with the authority to detain suspects?
The DFS Division of Consumer Services has the authority to,
The DFS Division of Investigative and Forensic Services has the authority to do all the following EXCEPT,
Insurance related activities which pertain to; rate making, policy forms, market conduct, claims, issuance of certificates of authority, matters of insurer solvency, vatical settlements, premium financing, and administrative supervision is the responsibility of,
Long-Term Care Partnership programs are between the LTC Insurer and,
Which of the following entities is responsible for regulating securities and other financial products offered by banks and lending institutions?
The responsibilities of the State Fire Marshal belong to,
Which of the following best describes a Representation on an insurance contract?
Carl is a licensed insurance agent in Florida. Last Saturday, Carl was pulled over at a checkpoint and arrested for DUI. Which of the following best describes Carl’s responsibility to report the incident?
What is an Un-Affiliated Insurance Agent?
How much notice are insurers required to give the agent if, they intend on terminating the agent’s appointment?
How long are insurance agents required to keep relevant paperwork pertaining to the policies they have sold?
Which of the following statements is true about the Florida Guarantee Association (FLGA)?
A regularly scheduled insurer audit by the Office of Insurance Regulations identifies financial distress. The OIR believes the insurer should be able to correct their operational problems. Which of the following best describes this insurer?
Carl is an insurance agent. To pump up sales he runs a marketing campaign that promises a $250 gift card to anyone who purchases a policy before the end of the month. This type of marketing is,
When an insurer can no longer meet their financial obligations, they are deemed an,
An insurer can no long meet their financial obligations. They declare bankruptcy. Which of the following best describes the next step in the insurer bankruptcy process?
A professional insurance introduction identifies the “Who” and “What” aspects of the conversation. At minimum, a proper Agent introduction should clearly identify,
Sliding occurs when,
The Fair Credit Reporting Act was adopted in 1970 to,
Jethro likes to steal things for fun. His behavior would be considered a,
Karen was arrested for Felony DUI. Since she put herself and others at risk, her behavior would be considered a,
Which of the following methods of risk management is most ineffective?
Twisting occurs when,
Carl, a Licensed & Authorized Life Insurance Agent. He often helps his clients access policy cash values to purchase new policies from the same insurer. Which of the following best describes this transaction?
When an insurance agent knowingly submits false information or omits a material fact for personal gain it called,
Unfair Discrimination occurs when,
Which of the following regulators is appointed to their position?
Which of the following statements about investigators from the Office of Insurance Regulations is NOT TRUE?
If a consumer makes a formal complaint to the Division of Consumer Services, how many days does the Agent have to respond to a request for information?
How long is Social Security Disability Insurance elimination period?
When does a person under 65 become eligible to enroll in Original Medicare?
How many days of Skilled Nursing Care does the Medicare initial deductible cover?
Which of the following statements about Medicare Part-A is CORRECT?
Original Medicare Part-B covers,
Which of the following best describes the cost of Medicare Part-A hospitalization benefits?
Medicare Part-C Covers,
Medicare Part-D Covers
Medicare Part-A covers
Flo has been selling insurance for this progressive company for the past 25-Years. She paid FICA Payroll Taxes the entire time. Which of the following best explains Flo’s cost for Original Medicare?
Which of the following people has the authority to change an irrevocable beneficiary?
Why is Term Life insurance significantly cheaper than Whole Life and Universal Life Insurance policies?
WHY are Accidental Death and Dismemberment Riders referred to as Double indemnity Riders?
What is the purpose of a Payor Provision / Rider?
What is the purpose of a Grace Period Provision?
To qualify for SSI Disability Income benefits the person must be expected to be disabled for at least 12-months. How long do they need to be disabled to qualify for Medicare benefits?
Which of the following is not an example of unfair discrimination?
What type of insurance strategy provides no cash value and does not pay a benefit if death doesn’t occur?
Which of the following is NOT a characteristic of whole life insurance?
Which of the following best describes the structure of a Straight Whole Life policy?
What is Limited Pay Whole Life?
How does a Whole Life Insurance policy become a Modified Endowment Contract?
Non-forfeiture means the cash values associated with a surrendered whole life policy belong to the,
What is the 7-Pay Test used for?
Which of the following policies is designed to cover a couple (or) two individuals?
When converting a term policy into whole life strategy, premiums are calculated on either the policyowners Attained Age or their Original Age. Which of these provisions would you recommend and why?
Which of the following life insurance policies has a death benefit designed to fluctuate with investment performance?
Carl has a Universal Life Insurance policy. He takes out a policy loan against his cash value. He dies before repaying the loan. How does this outstanding loan against his cash value impact the policy benefit?
Which of the following statements about BASIC Whole Life Insurance is not correct?
Which of the following is not a characteristic of Variable Universal Life (VUL) Insurance policies?
Which of the following life insurance strategies requires agents to deliver a prospectus to help explain the financial risk associated with the policy?
Which of the following whole life insurance strategies provides the Policyowner the potential to earn higher cash value gains without changing policy benefits or sacrificing cash values in a down market?
Which of the following whole life insurance strategies are classified as a securities contract?
Which of the following is the most basic type of term life insurance policy?
Which of the following life insurance strategies DOES NOT have a cash value?
Which of the following life insurance strategies provides the opportunity for larger than average investment gains however, the investment risk is retained by the policyowner?
In life insurance discussion, what does the word corridor refer to?
How many days is the Free Look Provision associated with a traditional life insurance issued to an individual?
Which of the following is not associated with a Reinstatement Provision?
Which component of the insurance contract identifies the amount and frequency of premium payments
Which component of the life insurance contract identifies the insurers promise to pay a benefit?
Which of the following prohibits insurers from adding new terms and conditions to an insurance contract/policy without the policy-owner approval?
Which of the following feature of a life insurance policy allows the policyowner to pay their premium after the established due date without being in danger of the policy lapsing?
Which of the following terms/conditions associated with a life insurance policy prevents the insurer from disputing a death claim after a certain timeframe has passed?
The assignment provision associated with a life insurance policy defines all the following except,
Which of the following best describes an annuity which has been funded with a lump sum of money and begins paying an income benefit one month after funding?
Which of the following pauses policy premiums while the policyowner is suffering from a total disability?
Which of the following allows the policyowner to purchase additional amounts of insurance after the policy had been in force without, having to provide the insurer with evidence of insurability?
Which of the following protects Juvenile policies from lapsing if the adult responsible for paying the premium is disabled or dies?
Which of the following pays double the policy benefit if death occurs under stated conditions?
Which of the following is sometimes referred to as the Family (OR) Children’s Rider because, it allows the policyowner to include a family member(s) to their policy?
Which of the following Rider / Provision allows the policy-owner to receive a set monthly income to help pay for the cost of confinement in a nursing home?
Which of the following riders increases the death benefit amount by the total number of premium payments made?
Which of the following Provisions / Riders protects the policy-owner by preventing unauthorized changes to the policy contract without written approval?
Which of the following sets forth the insurers promise to pay a benefit upon the insured’s death?
Which of the following allows the policy-owner to review their policy and return it for a complete premium refund?
In the business of insurance, the term consideration pertains to…
All the following are policy-owner rights EXCEPT…
Which of the following provisions allows the policy-owner to reinstate a policy after it lapses for non-payment?
Which of the following provides the policyowner with the right to borrow against their policy cash value?
What type of insurance company is owned by the policyowners?
Which of the following types of insurance policies pay policyowners a dividend when the insurer has positive yearly earnings?
Which of the following types of insurers provides insurance coverage to other insurers?
Which of the following is a characteristic of a Reciprocal Insurer?
Which of the following types of insurers is a non-profit with a lodge type system that includes ritualistic work?
The primary purpose of health insurance is to,
The concept of risk pertains to the “uncertainty’ associated with losses. What type of losses will an insurer most likely not cover?
When a person demonstrates an indifference to their personal wellbeing, their deemed a,
If an individual were to have a drug or alcohol addiction, their behavior would deem them a,
What is the name of the statistical concept insurers use to predict the likelihood of an accident, illness, or death occurring within a large random cross section of the population?
The purpose of disability Income Insurance is to,
Which of the following best describes the rationale behind how disability income benefit amounts are calculated for employees?
Jones is interest in obtaining Disability Income Insurance however, he has an extremely hazardous profession which deems him uninsurable. What type of recommendation or advice could you offer Mr. Jones?
Which of the following policy types is the primary form of pure accident coverage?
Carla has an Accidental Means Provision on her disability income insurance policies. She goes to Hawaii and jumps off a popular diving cliff into the surf below. Unfortunately, she lands awkwardly and is permanently paralyzed. Which of the following statements about Carla’s policy is true?
What type of coverages reimburses policyowners for cost associated with obtaining medical care?
In which method of determining surgery benefits does an insurer assign points to surgical procedures, instead of a fixed dollar amount.
Which type of Medical Expense Plan reimburses the insured for either expenses not included in their Basic Medical Expense plan or takes over once Basic plan limits are exhausted?
Comprehensive Major Medical plans cover virtually all types of medical expenses from hospital, physician and surgeons to physical therapy, laboratory services & medical supplies. What strategies do insurers utilize to help minimalize frivolous claims and keep premiums down.
Jones has a Comprehensive Major Medical plan. If he were to obtain services through his insurer, he’d be responsible to pay the 1st $500 of the procedure regardless of the procedures cost. What type of deductible strategy does Mr. Jones’s plan utilize?
Mary has a Major Medical policy. Her policy states that she is responsible for paying an initial deductible of $1,000. Only thereafter, will her insurer pay 75% of her covered expense. In this type of agreement Ms. Mary is liable for the remaining 25% of the bill. The 25% Ms. Mary is required to pay is called,
Which of the following medical expense strategies provides a specified daily, weekly, or monthly payment based in the number of days the insured is hospitalized?
Which of the following is a characteristic of Health-Maintenance Organizations?
Once a Medicare Supplement policy is delivered, how long does the policyholder have to return it for complete premium refund?
Which of the following is a characteristic of a Preferred Provider Organization?
Which of the following is a characteristic of a Point-Of-Service-Plan?
Which of the following government insurance programs is designed to assist low-income and disabled individuals regardless of age?
Mary suffers severe injuries in an accident and as a result, her physician estimates the recovery process to take at least 15 months. How long must Mary wait before she’ll begin receiving Social Security Disability Income Benefits?
Which of the following does NOT provide healthcare benefits?
Wu has a basic hospital/surgical expense policy which pays a hospitalization benefit of $60 per day (30-Day maximum) and $750 in miscellaneous charges. While rock climbing, Mrs. Wu suffers a severe broken leg which requires surgery. Her plan basis surgical benefits on a schedule approach assigns $550 to surgical expenses despite the typical cost for this procedure in this area is $850.
Calculate how much Mrs. Wu will be required to pay on this occurrence if she incurred the following expenses.
Group Health Insurance contracts are agreements between which two (2) entities?
What is the definition of an “Natural Group”?
When an employer (Or another eligible group) pays 100% of the insurance premium, the policy is considered,
Lang is a healthy individual with no pre-existing conditions who works for a software company with over 500 employees. As with most full-time employees, Mr. Lang participated in the group healthcare plan sponsored by his employer. Through no fault of his own, the company decided to downsize and as a result, Mr. Lang was laid-off. Since Federal Laws protect individuals who have been fired for reasons other than gross misconduct, which of the following is true.
Other than Long-Term Care insurance, what other healthcare strategies provide benefits for individuals who have lost their ability to remain self-sufficient in society and perform the basic activities of daily living?
Insurance policies which typically provide a one-time lump sum benefit if the insured were to be diagnosed with a critical illness are called,
A type of medical expense coverage which provides a specific/specified daily, weekly or monthly payment based on the number of days the insured is hospitalized is called,
The National Association of Insurance Commissioners (NAIC) established 12 mandatory policy provisions to protect the best interest of the insured. Which of the following policy provisions is designed to protect the insurer, not the insured?
Which of the 12 mandatory provisions protects the policyowner by ensuring, only the terms and conditions contained within the contract are relevant to the agreement, no other conditions may be “Incorporated by Reference” and no changes can be made to the policy once it’s been issued?
Assume an insurer does not submit payment for services rendered despite the fact the insured has properly submitted a notice of claim, claim forms and proof of loss. How long must the insured wait before they’re allowed to initiate legal action against the insurer?
Jessie is insured by XYZ Insurance however, he misrepresented his age on his application. Two years later after the Time Limit on Certain Defenses had expired, Jessie suffered an injury and submitted all relevant paperwork. It was then, at the time of the claim when the insurer realized Jessie was 3 years older than he stated on his application.
How would the insurer most likely handle this issue?
In Florida, a health insurance policy may be issued on an individual or structured to include eligible family members like a spouse or dependent children up to the age of 30. Which of the following scenarios best describes the options available to a dependent child no longer eligible for coverage under their parent’s policy?
James has a disability income policy. His policy prohibits the insurer from increasing his premium and canceling his policy for reasons other than non-payment of premium. What type of provision, rider, or clause, could grant James this type of ongoing protection?