Exam (elaborations)
2024 FLORIDA HEALTH INSURANCE EXAM WITH CORRECT ANSWERS
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2024 FLORIDA HEALTH INSURANCE EXAM WITH CORRECT ANSWERS
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2024 FLORIDA HEALTHINSURANCE EXAM WITH CORRECT
ANSWERS
Accident - CORRECT ANSWERS- An unplanned, unforeseen event which
occurs suddenly and at an unspecified place
Accidental Death and Dismemberment - CORRECT ANSWERS- An insurance
policy which pays a specified amount or a specified multiple of the insured's
benefit if the insured dies, loses his/her sight, or loses two limbs due to an
accident
Accidental Death Benefits - CORRECT ANSWERS- A policy rider that states
that the cause of death will be analyzed to determine if it complies with the
policy description of accidental death
Accident Insurance - CORRECT ANSWERS- A type of insurance that protects
the insured against loss due to accidental bodily injury
Accidental Bodily Injury - CORRECT ANSWERS- Unplanned, unforeseen
traumatic injury to the body
Insurability - CORRECT ANSWERS- The acceptability of an applicant who
meets an insurance company's underwriting requirements for insurance
Insurance - CORRECT ANSWERS- A contract whereby one party (insurer)
agrees to indemnify or guarantee another party (insured) against a loss by a
specified future contingency or peril in return for payment of a premium
Insured - CORRECT ANSWERS- The person or organization that is protected
by insurance; the party to be indemnified
Insurer - CORRECT ANSWERS- An entity that indemnifies against losses,
provides benefits, or renders services (also known as "company" or
"insurance company")
Insuring Clause - CORRECT ANSWERS- A general statement that identifies
the basic arrangement between the insurance company and the insured,
usually located on the 1st page of the policy
, Intentional Injury - CORRECT ANSWERS- An act that is intended to cause
injury. Self-inflicted injuries are not covered under accident insurance;
intentional injuries inflicted on the insured by another are covered
Activities of Daily Living - CORRECT ANSWERS- Activities individuals must do
every day such as moving about, getting dressed, eating, bathing, etc.
Actual Charge - CORRECT ANSWERS- The amount a physician or supplier
actually bills for a particular service or supply
Adhesion - CORRECT ANSWERS- A contract offered on a "take-it-or-leave-it"
basis by an insurer, in which the insured's only option is to accept or reject
the contract. Any ambiguities in the contract will be settled in favor of the
insured
Admitted (Authorized) Insurer - CORRECT ANSWERS- An insurance company
authorized and licensed to transact insurance in a particular state
Adult Day Care - CORRECT ANSWERS- A program for impaired adults that
attempts to meet their health, social, and functional needs in a setting away
from their homes
Adverse Selection - CORRECT ANSWERS- The tendency of risks with higher
probability of loss to purchase and maintain insurance more often than the
risks who present lower probability
Agent - CORRECT ANSWERS- An individual who is licensed to sell, negotiate,
or effect insurance contracts on behalf of the insurer
Aleatory - CORRECT ANSWERS- A contract in which participating parties
exchange unequal amounts. Insurance contracts are this in that the amount
the insured will pay in premiums is unequal to the amount the insurer will
pay in the event of a loss
Alien Insurer - CORRECT ANSWERS- An insurance company that is
incorporated outside the USA
Apparent Authority - CORRECT ANSWERS- The appearance or the
assumption of authority based on the actions, words, or deeds of the
principal or because of circumstances the principal created
Approved Amount - CORRECT ANSWERS- The amount Medicare determines
to be reasonable for a service that is covered under Part B of Medicare
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