Florida 2-40 health license Bundled Exam 2023

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 Information...

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

A) Basic Hospital/Surgical and Major Medical - ANSWERSComprehensive Medical Expense Insurance combines which of the following coverage in one policy: A) Basic Hospital/Surgical and Major Medical B) Disability Income and Accidental Death and Dismemberment C) Disability Income and Basic Hospital/Su...

Rules of Construction - ANSWERSHelp to identify and establish the intent of the parties to the contract Utmost good faith - ANSWERSEach party is entitled to rely on the representation of the other, and each party should have a reasonable expectation that the other is acting in good faith without ...

Health insurance contracts are unilateral. What does that mean? - ANSWERSOnly one party makes a legally enforceable promise What are the two types of expenses that are covered by health insurance? - ANSWERSExpenses related to health care, and expenses that compensate for loss of income Who is ...

Loss Sharing - ANSWERSThe spreading or pooling of risks over a large group of individuals Risk pooling - ANSWERSSame as loss sharing Law of large numbers - ANSWERSScience of probability and experience of mortality (death) & morbidity (sickness). The larger and more homogenous the group the mor...

A medical expense policy that establishes the amount of benefit paid based upon the prevailing charges which fall within the standard range of fees normally charged for a specific procedure by a doctor of similar training and experience in that geographic area is known as - ANSWERSUsual, customary a...

Which of the following may qualify as sliding: - ANSWERSAdding 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? - ANSWERSCommercial insurers After a week in the hospital, Lol...

CFO of Florida - ANSWERSOversees 15 divisons and offices including a division of Accounting and Auditing ( beureau of unclaimed property ) The CFO - ANSWERSWho is regulation of the insurance industry directly administered by? Administer the insurance laws of Florida - ANSWERSThe CFO, the finan...

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: - ANSWERSReserves An insurance applicant MUST be informed of an investigation regarding his/her reputation and character according to the: - ANSWERS...