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2024 FLORIDA INSURANCE (2-15) EXAM WITH CORRECT ANSWERS
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2024 FLORIDA INSURANCE (2-15) EXAM WITH CORRECT ANSWERS
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2024 FLORIDA INSURANCE (2-15)EXAM WITH CORRECT ANSWERS
A Supplementary Medical Expense policy combines the benefits of what two
types of plans? - CORRECT ANSWERS- Basic Medical and Major Medical
Which of the following is not correct concerning Health Maintenance
Organizations? - CORRECT ANSWERS- They mandate enrollment for groups
of 25 or more.
When benefits are paid to a policyowner covered under a Hospital Expense
policy, the policy is considered to be which of the following? - CORRECT
ANSWERS- Fixed-Rate plan
Which of the following about Health Reimbursement Accounts HRA's is/are
correct? - CORRECT ANSWERS- HRA's are established by the employer
Which is not true concerning a Hospital Fixed-Rate plan? - CORRECT
ANSWERS- Benefits are paid directly to the hospital
Assessment Mutual Insurers: - CORRECT ANSWERS- Charge its members
nothing until the loss occurs
Which of the following statements are true? - CORRECT ANSWERS- Stock
companies sell both participating and non-participating policies
Which of the following is a distinguishing element of an insurance contract? -
CORRECT ANSWERS- incontestability
Which of the following statements concerning rebating is not correct? -
CORRECT ANSWERS- Rebates should be given to insureds who purchase a
policy from an insurer that prohibits rebating
Which of the following statements is true about Basic Hospital, Medical, and
Surgical Expense Policies? - CORRECT ANSWERS- They usually have a stated
limit for specific expenses.
Which of the following plans used with High Deductible Health Plans is
employee owned? - CORRECT ANSWERS- Health Savings Accounts (HSAs)
, 6. Which of the following service providers allows for a primary care
physician as well as out-of-network care? - CORRECT ANSWERS- Point of
Service Plan (POS)
Which of the following is true about coinsurance? - CORRECT ANSWERS- It
helps control overutilization of benefits.
In a Basic Surgical policy, which of the following pays per point? - CORRECT
ANSWERS- Relative Value
The type of health care provider that provides both the health care services
and the health care financing is a: - CORRECT ANSWERS- Health
Maintenance Organization
Which of the following non-insurance entities are NOT involved with self-
insured plans? - CORRECT ANSWERS- Actuaries
Which of the following policies would cover a student pilot taking flying
lessons? - CORRECT ANSWERS- Special Risk
An applicant for insurance may pay the initial premium and receive a
document from the agent indicating that if the policy is issued as requested
coverage begins on the date of the documents. What is this document
called? - CORRECT ANSWERS- Conditional receipt
How does a basic medical plan avoid small claims and keep the cost of
premiums down? - CORRECT ANSWERS- by imposing benefit limits
A limited risk policy will pay for dread diseases
: - CORRECT ANSWERS- such as cancer
Stagmite purchases a major medical policy with a $100 annual deductible,
80/20 co-insurance and a maximum out-of-pocket of $5000. If Stagmite were
to incur covered expenses of $10,100, how much would Stag be out of
pocket? - CORRECT ANSWERS- $2100
If all or part of a $500 deductible is offset by a Basic Medical policy, what
type of deductible applies? - CORRECT ANSWERS- Integrated
In a Basic Hospital Expense policy, the miscellaneous expense limits are a
multiple of what factor? - CORRECT ANSWERS- Daily room and board
What is the agreement between an HMO and subscriber or group? -
CORRECT ANSWERS- Health maintenance contract
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