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2-40 Health and Accident Insurance State Exam Prep Questions and Answers
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2-40 Health and Accident Insurance State Exam Prep
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2-40 Health and Accident InsuranceState Exam Prep
Multiple Employer Welfare Arrangement (MEWA) provides what type of benefits? -
answer Insurance
XYZ Company pays the entire premium for its group health plan. The MINIMUM
percentage of eligible employees that must be covered is - answer100%
In Major Medical Expense policies, what is the intent of Stop Loss provision? - answer
Limits an insured's out-of-pocket medical expenses
Q is hospitalized for 3 days and receives a bill for $10,100. Q has a Major Medical
policy with a $100 deductible and 80/20 coinsurance. How much will Q be responsible
for paying on this claim? - answer$2,100
Omitting information that affects the issuance or the rate of an insurance contract is
called - answer concealment
Florida requires that coverage for newborns begins "from the moment of birth" and
continues for - answer18 months
In order to establish a Health Reimbursement Arrangement (HRA), it MUST - answerbe
established by the employer
Which provision allows a portion of any used medical benefits to be restored following a
particular amount of benefits has been used, or after the policy has been in effect for a
particular period of time? - answerRestoration of used benefit
Disability policies do NOT normally pay for disabilities arising from which of the
following? - answerWar
According to Florida law, when must an agent deliver the Outline of Coverage to a
Medicare Supplement applicant? - answerAt the time of application
An agent selling Medicare Supplement policies must provide every applicant with a(n) -
answerSuitability form
One definition of replacement is "the act of replacing an existing insurance policy with
another". Replacement is - answerclosely regulated and requires full disclosure
, Who makes the legally enforceable promises in a unilateral insurance policy? -
answerinsurance company
Which of the following acts is an agent NOT authorized to do on behalf of an insurer? -
answerAuthorize claim payments
Which of the following BEST describes a Hospital Indemnity policy? - answerCoverage
that pays a stated amount PER DAY of a covered hospitalization
What is required in the Florida Employee Health Care Access Act? - answerSmall group
benefit plan are to be issued on a "guarantee-issue" basis
The waiting period for a pre-existing condition under a Medicare Supplement policy may
NOT go beyond - answer6 months
J purchased a Disability Income Policy that ONLY J can terminate and on which the
rates will never increase above those illustrated in the policy. Which of the following
types of policies did J purchase? - answerNoncancelable
What is the elimination period of an individual disability policy? - answerTime period a
disabled person must wait before benefits are paid
This type of deductible provision waives the deductible for all family members after
some of them have satisfied individual deductibles within the same year - answerFamily
maximum deductible
Under an Individual Disability policy in Florida, what is the minimum schedule of time in
which claims must be made to an insured? - answerMonthly
Under a Long Term Care policy, which benefit would be typically excluded or limited? -
answerAlcohol rehabilitation
P is a Major Medical policyowner who is hospitalized as a result of injuries sustained
from participating in a carjacking. How will the insurer most likely handle this claim? -
answerClaim will be denied
A mutual insurance company and a stock insurance company have one main difference
between them. What is the Major contrast? - answerStock company is owned by its
shareholders.
Mutual company is owned by its policyholders.
Upon reaching the limiting age, a handicapped child can extend their health insurance
coverage as a dependent - answeronly if the child is incapable of employment and
chiefly dependent on the policyowner
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