Insurance Studies > EXAM > FLORIDA INSURANCE EXAM 2024 COMPLETE STUDY QUESTIONS WITH ACCURATE VERIFIED SOLUTIONS GUARANTEED PAS (All)

FLORIDA INSURANCE EXAM 2024 COMPLETE STUDY QUESTIONS WITH ACCURATE VERIFIED SOLUTIONS GUARANTEED PASS | RATED A+

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On January 8, an applicant filled out an application for a life insurance policy but did not include the initial premium. The insurance company approved the application on January 14 and issued the ... policy January 15. The producer delivered the policy on January 26 and collected the first premium. When did the coverage become effective? - correct answer ✔✔January 26 When an insured has the same disability within a specified time period and the insurance company provides the same benefits without a new waiting period, the second disability is covered under which of the following benefits? - correct answer ✔✔Recurrent Disability Rick recently died and left behind an individual IRA account in his name. His widow was forwarded the balance of the IRA. The widow qualifies for the: - correct answer ✔✔marital deduction Whole Life insurance policies are contractually guaranteed to provide each of the following, EXCEPT: - correct answer ✔✔partial withdrawal features beyond a surrender charge period All of the following statements about traditional individual retirement accounts are false EXCEPT - correct answer ✔✔10% penalty is applied to withdrawals before age 59 1/2 A licensed agent must be appointed by an insurance company to solicit insurance in Florida. The agent's license will terminate if a certain period of time elapses without being appointed. How long is this period of time? - correct answer ✔✔48 months Which of the following statements regarding a Tax Sheltered Annuity (TSA) is INCORRECT? - correct answer ✔✔The income from the TSA is received income tax-free How are surrender charges deducted in a life policy with a rear-end loaded provision? - correct answer ✔✔Deducted when the policy is discontinued What is Florida's definition of Life insurance replacement? - correct answer ✔✔A transaction in which a new policy is bought and an old policy is terminated Five years later, S dies of natural causes and the father is killed in a scuba accident shortly afterwards. How much of the death benefit will the mother receive? - correct answer ✔✔$0 M had an annual life insurance premium payment due January 1. She died January 10 without making the premium payment. What action will the insurer take? - correct answer ✔✔Pay face amount minus the past due premium [Show More]

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