1|Page
FLORIDA 240 LICENSE EXAM AND PRACTICE EXAM NEWEST
2026/2027 ACTUAL EXAM COMPLETE 300 QUESTIONS AND
CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY
GRADED A+||JUST OUT!!!
M has a Major Medical insurance policy with a $200 flat
deductible and an 80% Coinsurance clause. If M incurs a $2,200
claim for an eligible medical expense, how much will M receive
in payment for this claim? - ANSWER-$1,600
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
Which of the following types of health coverage frequently uses
a deductible? - ANSWER-Major Medical policy
Which of the following statements about Health
Reimbursement Areangements (HRA) is CORRECT? - ANSWER-If
the employee paid for qualified medical expenses, the
reimbursements may be tax-free
A Health Reimbursement Arrangement MUST be established: -
ANSWER-by the employer
,2|Page
J's Major Medical policy has a $2,000 deductible and an 80/20
Coinsurance clause. If J is hospitalized and receives a bill for
$10,000, J would pay: - ANSWER-$3,600
The first portion of a covered Major Medical insurance expense
that the insured is required to pay is called the - ANSWER-initial
deductible
S wants to open a tax-exempt Health Savings Account. To
qualify for this type of account, Federal law dictates that S must
be enrolled in a - ANSWER-High Deductible Health Plan
Which of the following services is NOT covered under a
hospitalization expense policy? - ANSWER-surgeon's fees
Which of the following medical expenses does Cancer insurance
NOT cover? - ANSWER-arthritis
A major medical policy typically: - ANSWER-provides benefits
for reasonable and necessary medical expenses, subject to
policy limits
,3|Page
M becomes disabled and is unable to work for six months. M
dies soon after from complications arising from this disability. M
has a Disability Income policy that pays $2,000 a month. Which
of the following statements BEST describes what is owed to her
estate? - ANSWER-earned, but unpaid benefits
Which of these statements concerning an individual Disability
Income policy is TRUE? - ANSWER-Normally includes an
Elimination period
When determining the monthly benefit amount for a Disability
Income policy, the factor that limits the amount a prospective
insured may purchase is: - ANSWER-income
An insured owns an individual Disability Income policy with a
30-day Elimination Period for sickness and accidents and a
monthly indemnity benefit of $500. If the insured is disabled for
3 1/2 months, what is the MAXIMUM amount he would receive
for an approved claim? - ANSWER-$1,250
J has a Disability Income policy that does NOT provide benefits
for losses occurring as the result of his employment. What kind
of coverage is this? - ANSWER-Nonoccupational coverage
, 4|Page
An individual Disability Income insurance applicant may be
required to submit all of the following information EXCEPT -
ANSWER-spouse's occupation
V is insured under an individual Disability Income policy with a
30-day Elimination period. On July 1, he is involved in an
accident and temporarily disabled. He returns to work on
December 1. How many months of benefit are payable? -
ANSWER-4 months
Disability policies do NOT normally pay for disabilities arising
from which of the following? - ANSWER-war
What is the elimination period of an individual disability policy?
- ANSWER-Time period a disabled person must wait before
benefits are paid
What does a Guaranteed Insurability rider provide a Disability
Income policyowner? - ANSWER-The ability to periodically
increase the amount of coverage without evidence of
insurability
B is a teacher who was injured in a car accident and cannot
work. She is now receiving monthly benefits as a result of this
FLORIDA 240 LICENSE EXAM AND PRACTICE EXAM NEWEST
2026/2027 ACTUAL EXAM COMPLETE 300 QUESTIONS AND
CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY
GRADED A+||JUST OUT!!!
M has a Major Medical insurance policy with a $200 flat
deductible and an 80% Coinsurance clause. If M incurs a $2,200
claim for an eligible medical expense, how much will M receive
in payment for this claim? - ANSWER-$1,600
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
Which of the following types of health coverage frequently uses
a deductible? - ANSWER-Major Medical policy
Which of the following statements about Health
Reimbursement Areangements (HRA) is CORRECT? - ANSWER-If
the employee paid for qualified medical expenses, the
reimbursements may be tax-free
A Health Reimbursement Arrangement MUST be established: -
ANSWER-by the employer
,2|Page
J's Major Medical policy has a $2,000 deductible and an 80/20
Coinsurance clause. If J is hospitalized and receives a bill for
$10,000, J would pay: - ANSWER-$3,600
The first portion of a covered Major Medical insurance expense
that the insured is required to pay is called the - ANSWER-initial
deductible
S wants to open a tax-exempt Health Savings Account. To
qualify for this type of account, Federal law dictates that S must
be enrolled in a - ANSWER-High Deductible Health Plan
Which of the following services is NOT covered under a
hospitalization expense policy? - ANSWER-surgeon's fees
Which of the following medical expenses does Cancer insurance
NOT cover? - ANSWER-arthritis
A major medical policy typically: - ANSWER-provides benefits
for reasonable and necessary medical expenses, subject to
policy limits
,3|Page
M becomes disabled and is unable to work for six months. M
dies soon after from complications arising from this disability. M
has a Disability Income policy that pays $2,000 a month. Which
of the following statements BEST describes what is owed to her
estate? - ANSWER-earned, but unpaid benefits
Which of these statements concerning an individual Disability
Income policy is TRUE? - ANSWER-Normally includes an
Elimination period
When determining the monthly benefit amount for a Disability
Income policy, the factor that limits the amount a prospective
insured may purchase is: - ANSWER-income
An insured owns an individual Disability Income policy with a
30-day Elimination Period for sickness and accidents and a
monthly indemnity benefit of $500. If the insured is disabled for
3 1/2 months, what is the MAXIMUM amount he would receive
for an approved claim? - ANSWER-$1,250
J has a Disability Income policy that does NOT provide benefits
for losses occurring as the result of his employment. What kind
of coverage is this? - ANSWER-Nonoccupational coverage
, 4|Page
An individual Disability Income insurance applicant may be
required to submit all of the following information EXCEPT -
ANSWER-spouse's occupation
V is insured under an individual Disability Income policy with a
30-day Elimination period. On July 1, he is involved in an
accident and temporarily disabled. He returns to work on
December 1. How many months of benefit are payable? -
ANSWER-4 months
Disability policies do NOT normally pay for disabilities arising
from which of the following? - ANSWER-war
What is the elimination period of an individual disability policy?
- ANSWER-Time period a disabled person must wait before
benefits are paid
What does a Guaranteed Insurability rider provide a Disability
Income policyowner? - ANSWER-The ability to periodically
increase the amount of coverage without evidence of
insurability
B is a teacher who was injured in a car accident and cannot
work. She is now receiving monthly benefits as a result of this
