Florida Life and Health Insurance License Practice Test

Disable ads (and more) with a membership for a one time $2.99 payment

Prepare for the Florida Life and Health Insurance License Test. Study with flashcards and multiple choice questions, each with hints and explanations. Get ready for your certification exam with ease!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

What is the maximum fixed interest rate permitted on a life policy loan in Florida?

The correct answer is: 10%

In Florida, the maximum fixed interest rate permitted on a life policy loan is 10%. Option A, 8%, is incorrect because it is below the maximum limit allowed. Option C, 12%, and Option D, 15%, are both incorrect as they exceed the maximum limit allowed. It is important to note that while the maximum fixed interest rate in Florida is 10%, individual insurance policies may have lower interest rates set by the insurance company. Therefore, it is always important to check with the specific insurance policy before taking out a life policy loan.