Exam Flashcards
(34 cards)
If an agent would like to sell variable annuities, which course must they pass?
Life and variable annuities
what does major medical plans not cover?
work related incidents
what is not a common exclusion for a medical expense policy?
physical therapy
a mutual insurance company and a stock insurance company have one major difference. what is it?
stock company is owned by shareholders. mutual company is owned by policy holders.
during the application process, the agent’s primary responsibility is to
the insurance company
the automatic premium loan provision authorizes an insurer to withdraw from a policy’s cash value the amount of
past due premiums that have not been paid by the end of the grace period
an agent selling medicare supplement policies must provide every applicant with an
suitability form
the department of financial services is the receiver of any insurer placed into
receivership
an insured was injured as an innocent bystnader when someone commited a felony. the insured is
liable for the loss
within how many days after policy delivery can a medicare supplement policy be returned for a 100% premium refund
30 days
In Florida, an insurer licensed to conduct business in florida, but is located in New Jersey is a
foreign company
what is a medicare part B plan also known as
supplementary medical insurance
richard owns an insurance policy that is renewable only at the option of the insurance company. his policy is referred to as
conditionally renewable
the premium payment mode that results in the highest overall cost would be
monthly
pat owns a 20 pay life policy with a paid up dividend option. which of following statements is true?
the policy may be paid up using policy dividends
which unfair trade practice involves an agent telling a prospective client that a policy’s dividends are guaranteed
misrepresentation
Shirley has a medigap policy, which is designed to pay costs associated with
Medicare parts a and b
if an agent would like to sell variable annuities, which state examination do they need to pass
life and variable contracts
all of these are valid policy dividend options for a life insurance policyowner EXCEPT
accumulate without interest
According to Florida Law, which of the following statements accurately describes an admitted mail order insurance company
it may solicit business with the assistance of a florida agent only
how is an insured’s accident and health claim handled by an insurer if it occurs during the policy’s grace period
the unpaid premium may be subtracted from the reimbursement
all of these are typically sources of underwriting information for life or health insurance EXCEPT
disclosure authorization response
all of these are considered in determining whether or not to accept a risk EXCEPT
The national association of insurance underwriters
Pre-death distributions from a modified endowment contract (MEC) recieve different tax treatment than other life insurance policies because
the MEC tends to be an investment vehicle
