Florida Health and Life Insurance State Exam Practice Part 1 Questions And Answers Already Graded A+

Which Accident and Health policy provision addresses preexisting conditions? -Time Limit on Certain Defenses Which of the following individual health insurance policies will provide the broadest protection? - Major Medical Which of the following situations does NOT apply to the Florida Replacement Rule? - An existing policyholder purchases an additional policy from the same insurer Agent J takes an application and initial premium from an applicant and sends the application and premium check to the insurance company. The insurance company returns the check back to J because the check is made out to J instead of the insurance company. What action should J take? - Return to the customer, collect a new check made out to the insurance company, and send the new check out to the insurance company Under which of the following circumstances will the benefits under COBRA continuation coverage end? - All group health plans are terminated by the employer Which type of renewability best describes a Disability Income policy that covers an individual until the age of 65, but the insurer has the right to change the premium rate for the overall risk class? - Garunteed Renewable An incomplete life insurance application submitted to an insurer will result in which of these actions? - Application will be returned to the writting agent The waiting period for a pre-existing condition under a Medicare Supplement policy may NOT go beyond - 6 MonthsWhich of these statements is INCORRECT regarding the federal income tax treatment of life insurance? - Entire cash surrender value is taxable Which of these is considered a mandatory provision? -Payment of Claims Which of the following actions will an insurance company most likely NOT take if an applicant, who has diabetes, applies for a Disability Income policy? - Issue the policy with an altered Time of Payment of Claims provision Which of the following phrases refers to the fees charged by a healthcare professional? - Usual, customary, and reasonable expenses D was actively serving in the Marines when he was killed in an automobile accident while on leave. His $100,000 Whole life policy contains a War Exclusion clause. How much will D's beneficiary's receive? - The full face amount N is covered under an individual Disability policy with a 30-day Elimination period and a monthly benefit of $500. N is totally disabled for 3 1/2 months. N's total benefit received on this claim is: - $1,250 No benefits are available during the elimination period. Who does an agent represent during the solicitation or insurance? - The insurance company Which of the following costs would a Basic Hospital/Surgical policy likely cover? - Sugically removing a facial birthmark The federal income tax treatment of employer-provided group Medical Expense insurance can be accurately described as: - Employee's premiums paid by the employer is tax-deductible to the employer as a business expenditurePremiums paid by an employer for an employee's coverage are deductible by the employer as a buisness expense What must the policyowner provide to the insurer for validation that a loss has occurred? - proof of loss Association Plans that are designed to provide health benefits to their members are regulated by the state because - They are insured by and authorized insurer Which of the following statements is CORRECT about the period in which a Term Policy can be converted? - It varies according to contracts