Florida Life and Health Final Exam 2
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Florida Life and Health Final Exam 2
- Which of the following factors affect the amount of monthly disability benefits payable
under social security?
Answer: The AMOUNT OF BENEFITS AVAILABLE from other sources
- Which of the following provisions specifies how long a policy owner's health coverage will
remain in effect if the policy owner does not pay the premium when it is due?
Answer: Grace period
- As a condition for a loan, a bank requires the borrower to purchase credit insurance from a
specific company. What is the bank guilty of?
Answer: Coercion
- A physician opens up a new practice and qualifies for a $7,000/monthly Dis- ability income
policy. What rider would the physician add if he wants the ability to increase his policy benefits as his practice and income grow?
Answer: Guaranteed insurability option rider
- Which of these types of coverage is best described as a short term medical policy
Answer: INTERIM coverage
- The COBRA gives workers (and their families) whose employment has been terminated the
right to...
Answer: Continue group health benefits
- Under Florida law, which of the following provisions is NOT required in a Medicare
Supplement policy?
Answer: Limitation on pre-existing conditions for up to 12 months.
- What are adjustable rates for life policy loans in Florida based on?
Answer: Moody's corporate bond index
- A policyowner's rights are limited under which beneficiary designation?
Answer: -Irrevocable
- A trustee-to-trustee transfer or rollover funds in a qualified plan allows a participant to
avoid:
Answer: Mandatory income tax withholding on the transfer amount.
- J is an agent who has induced an insured through misrepresentation to surrender an
existing insurance policy. What is J guilty of?
Answer: Twisted (got me twisted)
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