1. Exam Prep
  2. Florida
  3. Life, Health & Variable Annuity (2-15)
  4. Life Policy Provisions Options and Riders

Free Life Policy Provisions Options and Riders Practice Questions

Florida Life, Health & Variable Annuity (2-15) exam (series 2-15) — 25 practice questions.

Subtopics: Free look, Incontestability, Grace period, Misstatement of age, Senior annuity refund, Standard provisions, Assignment, Beneficiaries, Beneficiary clauses, Settlement options, Nonforfeiture options, Policy loans, Dividend options, Riders

Sample questions & answers

1. The minimum free-look (unconditional refund) period for an individual life policy in Florida is:

14 days

Florida requires a minimum 14-day free-look period during which a life policy may be returned for a full refund.

2. A Florida life policy generally becomes incontestable after it has been in force during the insured's lifetime for:

2 years

Florida requires that a life policy be incontestable after 2 years in force during the insured's lifetime, except for nonpayment of premium.

3. Florida requires individual life policies to provide a premium grace period of at least:

30 days

Florida requires a grace period of at least 30 days for premiums after the first, during which the policy stays in force.

4. If the age or sex of a Florida insured is misstated, the benefit is:

Adjusted to what the premium would have purchased at the correct age or sex

Florida's misstatement of age or sex provision adjusts the benefit to what the premium would have purchased at the correct age or sex.

All Life, Health & Variable Annuity (2-15) topics

Practice: Life Policy Provisions Options and Riders

Take a randomized, timed-style practice test. Answer choices are shuffled and your results are scored instantly with an explanation for every question.

Practice questions are study aids generated for exam preparation and are not actual exam questions. Content is provided for educational purposes and is not legal advice. Verify current statutes, rules, and exam specifications with the Pennsylvania Insurance Department and the exam administrator before relying on it.