Florida 2-15 Insurance License Actual Exam Questions And Answers Already Graded A

Industrial Life Insurance {Ans: - Sold by home service insurers - Over the years has been used less - Mainly, to cover funeral expense}Suicide Clause {Ans: A provision stating that if the insured dies by suicide during the first two years the policy is in force, the death benefit will equal the amount of the premium paid.}Money Purchase Plan {Ans: Defined contribution plan that uses a fixed percentage of employee earnings to defer compensation. It works well for organizations with relatively stable earnings from year to year because the percentage is fixed, and, once established, contributions must be made every year. The contribution limits are the same as for profit-sharing plans.}Under the joint and for survivor option if one annuitant dies, the survivor Receives the rest of the principal. If the survivor dies, what happened to the balance? {Ans: The balances forfeit}Captive Agent {Ans: an insurance agent who represents only one insurance company and who is, in effect, an employee of that company ... also know as a CAREER AGENT}Group AD&D policies may be deducted by whom and under which deduction category? {Ans: the employer under business expenses}