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214 Florida Insurance Exam Questions And Answers (Solved)

214 FLORIDA INSURANCE LIFE AND VARIABLE ANNUITY ACTUAL EXAM UPDATED variable annuity - CORRECT ANSWER-there is no guarantee of the dollar amount of the payments, they fluctuate according to the value of an account vest primarly in common stocks join and survivor annuity - CORRECT ANSWER-covers two or more lives and contiunes in force so long as any one of them survives period certain annuity - CORRECT ANSWER-annuity imcome option that guarantees a definite minimum peroid of paymen...

The clause identifying which losses resulting from an accident or sickness are insured by the policy is called the: - ANSWERS Insuring clause K applies for a life insurance policy on herself and submits the initial premium with the application. She is given a receipt by the agent stating that coverage begins immediately if the application is approved. What kind of receipt was used? - ANSWERS Conditional A life insurance arrangement which circumvents insurable interest statutes is calle...

Risk - ANSWERS the chance of financial loss Risk is NOT the loss itself, but the _________ of loss. - ANSWERS CHANCE Policy - ANSWERS a written contract for effecting insurance and includes Clauses, Riders, endorsements, and papers which are part of the contract Insurance - ANSWERS a contract where one undertakes to indemnify another or pay a specific amount determined on contingencies Binders - ANSWERS temporary insurance which can be made orally or written property insurance - ANSWERS...

A Supplementary Medical Expense policy combines the benefits of what two types of plans? - ANSWERS Basic Medical and Major Medical Which of the following is not correct concerning Health Maintenance Organizations? - ANSWERS They mandate enrollment for groups of 25 or more. Which is not true concerning a Hospital Fixed-Rate plan? - ANSWERS Benefits are paid directly to the hospital When benefits are paid to a policyowner covered under a Hospital Expense policy, the policy is considered ...

Florida Property & Casualty Insurance Exam Questions and Answers 100% Pass The FAJUA is composed of: - Correct Answer ️️ -All companies licensed to write auto insurance in Florida A coverage that is similar to premises and operations coverage in the Commercial General Liability Policy covering bodily injury and property damage liability for aviation risks is defined as: - Correct Answer ️️ -Airport and Air Meet Liability Homeowners HO-3 policy - severe theft loss. Coverage A limit...

Florida 2-20 Agents License Exam Questions with 100% Correct Answers The Florida Surplus Service Lines Office (FSLSO) was created to - Correct Answer ️️ -oversee the surplus lines industry in the state Which of the following is NOT a required qualification for a General Lines Agent: - Correct Answer ️️ -Seeking the license only to write controlled business The Department of Financial Services performs the following, EXCEPT: - Correct Answer ️️ -Pays insurance claims Once lice...

Florida 2-15 Insurance License Exam Questions and Answers 100% Pass Accumulation units are converted into annuity units: - Correct Answer ️️ -at the time of annuity payout. A group life insurance plan in which the employer pays the entire premium is known as a ________________ plan. - Correct Answer ️️ -noncontributory If a disabled worker covered under Social Security disability benefits recovers and then is disabled again within five years, a new waiting period is required befor...

Florida 2-20 Exam Questions and Answers 100% Pass B. A general lines agent or a general lines insurance agency - Correct Answer ️️ -Who may appoint a Customer Representative? Select one: A. A surplus lines agent holding a general lines license and a surplus lines license B. A general lines agent or a general lines insurance agency C. An adjuster D. An insurance company D. After 90 days in Florida - Correct Answer ️️ -Mr. Smith lives in New Jersey but visits Florida each year. Wh...

Pearson VUE: Property Insurance Practice Exam, Study questions insurance, Casualty FL Questions and Answers 100% Pass S is purchasing a Commercial Property policy to cover a commercial building with a replacement cost of $100,000. The policy includes an 80 percent Coinsurance clause. To avoid a coinsurance penalty in the event of a partial loss, S should purchase a policy with minimum limits of AT LEAST which of the following amounts? A. $100,000 B. $90,000 C. $80,000 D. $20,000 - Corr...

Property and casualty Florida Exam Questions and Answers 100% Pass risk - Correct Answer ️️ -Chance of a financial loss Assumed risk - Correct Answer ️️ -Amount of risk the insured is willing to absorb Pure Risk - Correct Answer ️️ -a risk that presents the chance of loss but no opportunity for gain Speculative Risk - Correct Answer ️️ -Chance of loss or gain insurance - Correct Answer ️️ -a practice or arrangement by which a company or government agency provides a gu...

Property & Casualty Policy Provisions & Contract Law 24 Questions with 100% Correct Declarations - Correct Answer ️️ -Identifies named insured, mailing address, policy period, coverages (limits & premium) and loss payees (lien holders) Insuring agreement - Correct Answer ️️ -types of property covered and perils insured against Conditions - Correct Answer ️️ -describes the rights and duties of the insured and the insurance company under the contract Exclusions - Correct Answe...