Florida 2-40 Bundled Exams with Complete Solution | Verified Answers | 2024

The stated amount or percent of liquid assets that an insurer must have on hand that will satisfy future obligations to its policyholders is called: - Reserves An insurance applicant MUST be informed of an investigation regarding his/her reputation and character according to the: - Fair Credit Re...

Which of the following laws requires an insurer to notify an applicant in writing that an investigative consumer report may be made on the applicant? -Uniform Provisions Law. -Freedom of Information Act. -Medical Information Bureau Disclosure Act -Fair Credit Reporting Act (Insurance Informatio...

An organization that transacts insurance only with its own members is a(n): - Fraternal The ____________ has the power to issue rules and regulations to help enforce insurance laws. - Commissioner, Superintendent, or Director All of the following are essential elements of a legal contract, EXCEPT...

Which of the following is NOT a form of medical insurance? -Business overhead expense -Surgical expense -Hospital expense -Long term care - Business overhead expense (Explanation:Business Overhead Expense insurance is designed to reimburse a business for overhead expenses in the event a busines...

Multiple Employer Welfare Arrangement (MEWA) provides what type of benefits? - Insurance XYZ Company pays the entire premium for its group health plan. The MINIMUM percentage of eligible employees that must be covered is - 100% In Major Medical Expense policies, what is the intent of Stop Loss pr...

Which of the following may qualify as sliding: - Adding additional coverage to a policy and indicating that it is included in the original premium. Which of the following reimburses its insureds for covered medical expenses? - Commercial insurers After a week in the hospital, Lola receives a bill...