Florida Life Insurance Exam Study Modules

Florida Life Insurance Exam Study Modules

Professional Development

20 Qs

quiz-placeholder

Similar activities

Тест Май 2021

Тест Май 2021

Professional Development

20 Qs

Assertiveness

Assertiveness

Professional Development

20 Qs

HDFC Life Pragati

HDFC Life Pragati

Professional Development

20 Qs

OBE Quiz

OBE Quiz

Professional Development

21 Qs

Maîtrise des Procédures GL

Maîtrise des Procédures GL

Professional Development

20 Qs

Business English 1

Business English 1

Professional Development

20 Qs

TOWNHALL Q4 2021

TOWNHALL Q4 2021

Professional Development

18 Qs

Food Additives Quiz 1

Food Additives Quiz 1

University - Professional Development

16 Qs

Florida Life Insurance Exam Study Modules

Florida Life Insurance Exam Study Modules

Assessment

Quiz

Professional Development

Professional Development

Hard

Created by

Wayground Content

FREE Resource

AI

Enhance your content

Add similar questions
Adjust reading levels
Convert to real-world scenario
Translate activity
More...

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What must be done if changes are made to an application?

Changes must be made by the applicant and initialed; never erase or use white-out.

Changes can be made by anyone as long as they are documented.

Changes should be made in pencil to allow for easy corrections.

Changes must be approved by a supervisor before being made.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the penalties for twisting and churning in Florida insurance practices?

Fine up to $75,000 per willful violation.

Imprisonment for up to 5 years.

Suspension of insurance license for 1 year.

Mandatory community service for 100 hours.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are essential policy provisions?

Entire Contract

Grace Period

Premium Payment

Incontestability

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is universal life insurance?

Insurance with fixed premiums and face amount, with no death benefit options.

Insurance with flexible premiums and face amount, with death benefit options and interest rates.

Insurance that only covers accidental death and has no cash value.

Insurance that requires a medical exam and has a fixed interest rate.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the Fair Credit Reporting Act protect?

Protects consumers' credit information rights.

Regulates interest rates on loans.

Ensures privacy of medical records.

Mandates free credit scores for all consumers.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is variable life insurance?

Insurance where cash value is invested in a separate account, requires two licenses (insurance + securities), regulated by SEC and FINRA, policyowner assumes investment risk.

A type of insurance that guarantees a fixed cash value and does not involve investment risk.

Insurance that provides a death benefit only, with no cash value accumulation.

A policy that allows the policyholder to choose the investment options for their cash value, but does not require any licenses.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the tax treatment of life insurance?

Premiums are tax deductible, death benefit is taxable, cash value grows tax-free.

Premiums not tax deductible, death benefit tax-free if lump sum, interest on installment payments is taxable, cash value grows tax-deferred.

Premiums are tax deductible, death benefit is tax-free, cash value grows tax-deferred.

Premiums not tax deductible, death benefit taxable, cash value grows taxable.

Create a free account and access millions of resources

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

By signing up, you agree to our Terms of Service & Privacy Policy

Already have an account?

Discover more resources for Professional Development