Exam (elaborations)
2024 FLORIDA STATE HEALTH INSURANCE EXAM WITH CORRECT ANSWERS
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2024 FLORIDA STATE HEALTH INSURANCE EXAM WITH CORRECT ANSWERS
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2024 FLORIDA STATE HEALTHINSURANCE EXAM WITH CORRECT
ANSWERS
Field Underwriting Procedures - Correct Answers- Agent/Producer
Insurable Interest - Correct Answers- Policy Owner Who Faces Losing
Something Of Value In The Event Of A Loss
Insurer - Correct Answers- Principle
Contract Law - Correct Answers- Elements Of A Contract
Agreement - Correct Answers- Acceptance & Offer
General Lines Agent - Correct Answers- A Persons Transacting One Or More
Of Insurance
Property & Casualty - Correct Answers- Includes Commercial Liability, A
Underwritten By A Risk Retention Group,
Or As A Workers Compensation Self- Insurance Fund
Health Agent - Correct Answers- Agent Representing An Hmo, Or As To
Health Insurance Only, An Insurer Transacting Health Insurance
Home State - Correct Answers- Any State Or Territory In The Us, In Which
The Agent Or Adjuster Maintains His/Her Residence Or Business And Is
Licensed As An Insurance Agent Or Adjuster
Insurance Agency - Correct Answers- Business Location In Which An Entity
Other Than The Insurer Or An Adjuster Engages In Any Activity Or Employs
Individuals To Engage In Any Activity By Law May Be Performed Bu A
Licensed Agent Or Adjuster
License - Correct Answers- Document Issued By The Department Or Office
Authorizing A Person To Transact Insurance Or Adjust Claims
Offer - Correct Answers- Made When Application Is Submitted
Acceptance - Correct Answers- Insurer's Underwriter Approves And Issues
The Policy
,Consideration - Correct Answers- Insured Pays The Premium And The
Representations Made In The App And The Insurer Promise To Pay In The
Event Of A Loss
Competent Parties - Correct Answers- Parties Must Be Capable, Legal Age,
Mentally Competent, Free Of Alcohol And Drugs
Legal Purpose - Correct Answers- Must Have Insurable Interest & Consent
Warranties - Correct Answers- An Absolutely True Statement, In Which The
Validity Of The Policy Depends
Representations - Correct Answers- A Statement Believed To Be True To The
Best Of One's Knowledge
Misrepresentations - Correct Answers- Untrue Statements That Could Void
The Contract
Material Misrepresentation - Correct Answers- A Statement, If Discovered,
That Can Alter The Underwriting Decision Of The Insurance Company, Also, If
Intentional, Are Considered Fraud
Conditional - Correct Answers- The Requirement That Certain Conditions
Must Be Met By The Insured And The Insurer In Order For A Contract To
Executed, And Before Each Party Fulfills It's Obligations
Unilateral - Correct Answers- Only One Of The Parties Is Legally Bound To To
Anything
Adhesion - Correct Answers- Contract Is Prepared By One Of The Parties
(Insurer) And Accepted Or Rejected By The Insured On A Take -It -Or-Leave It
Bases By The Insurer
Aleatory - Correct Answers- An Ex Amounts Or Exchange Of Unequal
Amounts Or Values
Entire Contract - Correct Answers- An Issued Policy That Has A Copy Of The
Original Application Attached To The Back Of The Policy
"Notice To The Applicant" - Correct Answers- Must Be Issued To All
Applicants. Informs The Applicant That A Credit Report Will Be Ordered
Which Shows Past History And If Any Other Health Insurance They Previously
Applied. The Agent Must Leave This Notice With The Applicant
,Completeness & Accuracy - Correct Answers- It Is The Agent's Responsibility
To Make Certain The Application Is Filled Out Completely, And To The Best Of
The Applicant's Knowledge
Signatures - Correct Answers- The Policy Must Be Sign By The Proposed
Insured, The Policy Owner (If Different Form The Insured) And The Agent
Changes In The Application - Correct Answers- Best To Start The Application
Over. If Not Practical, Draw A Line Through The Incorrect Info, Insert The
Correct Info And Have The Applicant Initial The Correct Answer.
Premiums With The Application - Correct Answers- Collected With The
Application And Forwarded To The Insurer, A Conditional Receipt Is Given To
The Applicant. However, Coverage Does Not Begin Until The Insurer Has
Approved The Application And Policy Is Issued.
No Initial Premium With The Application - Correct Answers- If Premium Is Not
Collected At The Time Of The Application, Upon Delivery, Agent Must Collect
The Initial Premium And Obtain A Statement Of Good Health From The
Applicant Before Releasing The Policy.
Submitting Application To Company For Underwriting - Correct Answers-
Agent Must Check For Completion And All Signatures, Then Forwards The
Application To The Insurer.
Explaining Sources Of Insurability & Hippa Priacy - Correct Answers- To
Determine Insurability Of ,The Applicant, The Insurer May Use Several
Sources Medical Information Bureau (Mib), Report For Gathering
Underwriting Info. The Applicant Must Be Advised Of The Sources Being Used
And How The Info Will Be Used. All Sources Used Must Adhere To The Fair
Credit Reporting Act.
Attending Physician's Report - Correct Answers- The Underwriter May Deem
It Necessary To Obtain An Attending Physician's Statement (Aps) And
Forward It To The Physician To Be Completed. This Statement Will Reveal
Exactly What The Applicant Was Treated For, The Treatment Required, The
Length Of Treatment And The Prognosis
Medical Information & Consumer Reports - Correct Answers- If The Policy
With Higher Amounts Or The Application Raised Questions Concerning The
Proposed Insured's Health, The Underwriter May Require A Medical
Examination
Medical Information & Consumer Reports - Continued - Correct Answers- To
Options Depending On The Reason For The Medical Examination: The Insurer
May Only Request Reports:
, 1) Paramedical: To Be Completed By A Paramedic Or Registered Nurse
2) Underwriter May Require An Attending Physician's Report (Asp) Form A
Physician Who Treated The Applicant For A Prior Medical Problem
Medical Information & Consumer Reports - Continued - Correct Answers- In
Addition To The Asp, The Underwriter Will Usually Request A Mib Report
Medical Information Bureau (Mib) - Correct Answers- Non-Profit Trade
Organization That Receives Adverse Medical Information From Insurance
Companies And Maintains Confidential Medical Impairment Information On
Individuals.
***An Applicant Can Not Be Refused Because Of Some Adverse Information
Discovered Through A Mib Report.
Medical Exam Report - Correct Answers- Paid For By The Insurance
Company, Usually Not Required For Health Ins.
***Note: An Insurer Must First Obtain Written Consent From The Applicant To
Take An Hiv Test. The Consent Form Must State The Purpose For The Test
And Inform Confidentiality.
***Note An Adverse Decision By Underwriting Can Not Be Given, Solely On
The Bases Of Symptoms, But Only If Hiv Is Confirmed In Elation To The
Symptoms
Fair Credit Reporting Act - Correct Answers- Procedures That Consumer-
Reporting Agencies Must Follow To Ensure Records Are Confidential,
Accurate, Relevant, And Properly Used.
The Law Also Protects Consumers Against Circulation Of Inaccurate Or
Obsolete Personal Or Financial Information.
Consumer Reports - Correct Answers- Written/Oral Info Regarding A
Consumer's Credit, Character, Reputation, Or Habits Collected By A
Reporting Agency From Employment Records, Credit Reports, And Other
Public Sources.
Investigative Consumer Reports - Correct Answers- Similar To Consumer
Reports. The Main Difference Is That Information Is Obtained Through
Investigation And Interviews With Associates, Friends, And Neighbors Of The
Consumer.
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