Xcel Solutions Florida 215 Insurance License Exam

What is the purpose of the Insurance Guaranty Fund Association?

• Enforces Florida's insurance regulations

• Protects policyowners against insolvent insurance companies

• Establishes underwriting guidelines for admitted insurers

• Underwrites high-risk insurance applicants

In Florida, a health policy that is paid on a quarterly basis requires a grace period of

• 10 days

• 7 days

• 45 days

• 31 days

T is an employee covered under a Group Life policy. If T's employment is terminated, the conversion privilege gives T the right to convert

• to an individual policy upon employment termination

• to an individual policy with a higher amount of coverage

• to an individual policy, only if the employer pays the premiums

• to an individual policy, only by providing evidence of insurability

The minimum age at which a person can sign a life insurance application is

• 18 years

• 16 years

• 15 years

• 17 years

Under Florida law, a variable annuity policyowner must be notified of the accumulated value of the contract

• twice each year

• once each month

• once each year

• only when requested by the policyowner

In Florida, which of the following practitioners normally do NOT receive payment from health insurance policies?

• Naturopaths

• Pediatricians

• Optometrists

• Dentists

Which entity approves the insurance policy forms used in Florida?

• Financial Services Commission (FSC)

• Department of Financial Services (DFS)

• Office of Insurance Regulation (OIR)

• National Association of Insurance Commissioners (NAIC)

K made a fraudulent statement on her health insurance policy application. In the event of a claim on this policy, the insurance company is required to pay

• 50% of the claim

• a figure to be determined by arbitration

• nothing

• all of the claim

Which of the following acts is an agent NOT authorized to do on behalf of an insurer?

• Complete insurance applications

• Authorize claim payments

• Accept premiums from policyowners

• Ask health related questions

Which of the following can an agent provide to help a prospective client understand and purchase the most appropriate product?

• Policy summary

• Illustration

• Buyer's guide

• Conditional receipt