Jules’ Exam Prep Guide

01Which entity issues and regulates insurance agent licenses in Florida?

02An agent who induces a policyowner to drop an existing policy by misrepresenting the facts about it has committed:

03Adding a product or coverage the applicant never requested and charging for it is:

04Regarding rebating, Florida law provides that:

05The minimum free look period on an individual life insurance policy in Florida is:

06A fixed annuity is sold to a 70-year-old. The unconditional refund period must be at least:

07A Medicare supplement policy in Florida must provide a free look period of:

08The Florida Life and Health Insurance Guaranty Association exists to:

09Which of the following may an agent NOT use as a sales inducement?

10An agent holding premium funds belonging to an insurer is acting in what capacity?

11How long is a Florida temporary insurance license valid?

12An agent must notify DFS of a change of address within:

13Which is required before an agent can lawfully transact business for an insurer?

14Knowingly making a false statement on an insurance application to obtain a benefit is:

15An order directing a person to stop a specific unlawful practice immediately is:

16Which of the following is an unfair claim settlement practice?

17A Florida life policy is incontestable after it has been in force during the insured's lifetime for:

18The grace period for an individual life policy in Florida is at least:

19Who bears responsibility for a replacement transaction being properly disclosed?

20An applicant's signature on an insurance application must be:

21An HMO in Florida is regulated primarily as:

22Which best describes an agent's duty of suitability on an annuity sale to a senior?

01Insurable interest in a life insurance policy must exist:

02An insurance contract is one of adhesion, which means:

03A contract in which the values exchanged are unequal is:

04Only one party makes a legally enforceable promise. This describes a contract that is:

05A false statement on an application that would have changed the underwriting decision is:

06Deliberately withholding a known material fact is:

07Voluntarily giving up a known right is:

08An agent's authority that the public reasonably assumes exists based on the agent's appearance and conduct is:

09The clause stating that the policy and the attached application constitute the whole agreement is:

10Consideration on the part of the insured consists of:

11When an applicant pays the initial premium with the application, coverage typically begins:

12The process of classifying risks and deciding whether to accept them is:

13The Medical Information Bureau serves what purpose?

14Under the Fair Credit Reporting Act, an applicant who is declined based on a consumer report must be:

01Which policy provides coverage for a specified period with no cash value?

02A term policy whose face amount declines over the term while premium stays level is commonly used for:

03Which term feature lets the insured continue coverage without proving insurability?

04Whole life premiums are:

05A limited pay whole life policy differs from straight whole life in that:

06Universal life is best described as:

07Under Universal Life Option B (Option 2), the death benefit equals:

08In a variable life policy, the cash value is held in:

09To sell variable life or variable annuities an agent must hold:

10A policy covering two lives that pays at the second death is:

11An indexed universal life policy credits interest based on:

12Modified whole life is characterized by:

13Which policy is typically issued without a medical exam and with a graded death benefit in the first years?

14Group life insurance is generally written as:

01The provision allowing the owner to reinstate a lapsed policy generally requires:

02A misstatement of age provision means the death benefit will be:

03The automatic premium loan provision:

04Which nonforfeiture option provides the same face amount for a limited period of time?

05Which dividend option buys additional small amounts of permanent coverage with no evidence of insurability?

06Policy dividends from a participating life policy are treated for tax purposes as:

07The settlement option paying a guaranteed income the beneficiary can never outlive, with nothing to anyone at death, is:

08A beneficiary chooses to receive $1,000 per month until the proceeds and interest are exhausted. This is:

09A revocable beneficiary designation means:

10Under per stirpes distribution, if a named child predeceases the insured, that child's share:

11The waiver of premium rider generally:

12An accidental death benefit rider that doubles the face amount is commonly called:

13The guaranteed insurability rider allows the insured to:

14An accelerated death benefit rider pays:

15A payor benefit rider on a juvenile policy provides that:

16A viatical settlement involves:

17An outstanding policy loan at the insured's death is:

18The assignment provision in a life policy permits the owner to:

01An annuity's primary purpose is to:

02The period during which the owner pays into an annuity is the:

03A single premium immediate annuity begins payments:

04Which annuity guarantees a minimum interest rate and a fixed payout amount?

05In a variable annuity, the purchasing power risk and investment risk are borne by:

06During the accumulation phase of a variable annuity, the owner's interest is measured in:

07A life annuity with 10-year period certain means:

08Which payout option produces the highest monthly income for a given sum?

09A joint and two-thirds survivor annuity means that after the first annuitant dies:

10Withdrawals from a nonqualified deferred annuity before age 59½ are generally subject to:

11In a nonqualified annuity, the portion of each annuitized payment representing the owner's cost basis is:

12An equity indexed annuity's floor protects the owner by:

13A surrender charge on a deferred annuity typically:

14Who receives the annuity payments?

01Notice of a health insurance claim must generally be given within:

02If the insurer does not furnish claim forms within 15 days of notice, the insured may:

03Legal action against the insurer cannot be brought until how long after proof of loss?

04Which renewability provision offers the insured the strongest protection?

05A pre-existing condition exclusion on an individual Florida health policy may not exceed:

06The time limit on certain defenses provision in a health policy functions like:

07A deductible is:

08Under an 80/20 coinsurance provision, after the deductible is met the insured pays:

09A stop-loss or out-of-pocket maximum provision:

10The coordination of benefits provision exists to:

11Which is an optional, not required, uniform health provision?

12A health policy's grace period for a monthly premium mode is typically:

13A physical exam and autopsy provision allows the insurer to:

14Under the change of occupation provision, if the insured takes a more hazardous job, benefits will be:

15An insured is covered under a plan with a $1,000 deductible and 80/20 coinsurance on a $6,000 covered bill. The insured pays:

16A basic medical expense policy differs from a major medical policy in that basic coverage:

01The defining feature of an HMO is:

02A PPO differs from an HMO in that a PPO:

03Under an HMO, the primary care physician acting as gatekeeper:

04Disability income insurance benefits are based on:

05The elimination period on a disability policy is:

06Own occupation disability coverage means the insured is considered disabled if unable to perform:

07Disability income benefits are received income tax free when:

08Business overhead expense insurance pays:

09Long-term care benefits are typically triggered by the inability to perform:

10Which level of long-term care is provided by a registered nurse under a physician's order?

11Medicare Part A primarily covers:

12Medicare Part B covers:

13Medicare Part C is also known as:

14The Medicare initial enrollment period:

15The Medicare supplement open enrollment period lasts:

16Medicare supplement policies are designed to:

17Medicaid differs from Medicare in that Medicaid is:

18COBRA continuation following termination of employment generally lasts:

01A life insurance death benefit paid in a lump sum to a named beneficiary is generally:

02Cash value growth inside a life insurance policy is:

03A life insurance policy that fails the 7-pay test is classified as:

04A Section 1035 exchange permits a tax-free transfer from:

05Premiums an individual pays for personal life insurance are:

06Contributions to a traditional IRA by an eligible individual are:

07Qualified distributions from a Roth IRA are tax free if the account has been held five years and the owner is:

08A 403(b) tax-sheltered annuity is available to employees of:

09Distributions from a qualified plan before age 59½ are generally subject to:

10Employer-paid group life premiums are deductible to the employer, and the cost of coverage is taxable to the employee on amounts above:

11A key person life insurance policy is owned by:

12In a cross-purchase buy-sell agreement funded with life insurance: