214 Florida Insurance Exam 2024

214 FLORIDA INSURANCE EXAM 2024-2025 QUESTIONS and ANSWERS Which of the following reasons would justify a policy replacement? ANSWER-The policy no longer meets the needs of the client - -The Incontestable Clause states that the insurer cannot contest the validity of a life insurance policy as long as it remains in force after what period of time? ANSWER Usually 2 years, but in some states only 1 year - -Group insurance plans that do not require employees to pay a portion of policy premiums are referred to as: - ANSWER Non-contributory plans -What is the maximum number of Social Security credits an individual can earn per year? 4 credits - ANSWER -Under the 1035 policy exchange provision, which of the following will NOT receive favorable tax treatment? - ANSWER An annuity contract exchanged for a life insurance policy Which of the following insurers is best defined as a non- participating company? ANSWER- Stock - -A non-contributory group policy requires which percentage of eligible employees to be covered? ANSWER100% - -Carla has named her husband Jeffrey as the beneficiary to her life insurance policy. Under which beneficiary designation does she remains in control of the policy and can make any changes