Florida Insurance Exam (2-15) EXAM WELL ELABORATED QUESTION AND ANSWERS GRADED A+

Florida Insurance Exam (2-15) EXAM WELL ELABORATED QUESTION AND ANSWERS GRADED A+ A Supplementary Medical Expense policy combines the benefits of what two types of plans? - ANSWER - Basic Medical and Major Medical Which of the following is not correct concerning Health Maintenance Organizations? - ANSWER - They mandate enrollment for groups of 25 or more. Which is not true concerning a Hospital Fixed-Rate plan? - ANSWER - Benefits are paid directly to the hospital When benefits are paid to a policyowner covered under a Hospital Expense policy, the policy is considered to be which of the following? - ANSWER - Fixed-Rate plan Which of the following about Health Reimbursement Accounts HRA's is/are correct? - ANSWER - HRA's are established by the employer Which of the following statements is true about Basic Hospital, Medical, and Surgical Expense Policies? - ANSWER - They usually have a stated limit for specific expenses. Which of the following plans used with High Deductible Health Plans is employee owned? - ANSWER - Health Savings Accounts (HSAs) 6. Which of the following service providers allows for a primary care physician as well as out-of-network care? - ANSWER - Point of Service Plan (POS) Which of the following is true about coinsurance? - ANSWER - It helps control overutilization of benefits. In a Basic Surgical policy, which of the following pays per point? - ANSWER - Relative Value The type of health care provider that provides both the health care services and the health care financing is a: - ANSWER - Health Maintenance Organization Which of the following non-insurance entities are NOT involved with self-insured plans? - ANSWER - Actuaries Which of the following policies would cover a student pilot taking flying lessons? - ANSWER - Special Risk An applicant for insurance may pay the initial premium and receive a document from the agent indicating that if the policy is issued as requested coverage begins on the date of the documents. What is this document called? - ANSWER - Conditional receipt How does a basic medical plan avoid small claims and keep the cost of premiums down? - ANSWER - by imposing benefit limits A limited risk policy will pay for dread diseases : - ANSWER - such as cancer Stagmite purchases a major medical policy with a $100 annual deductible, 80/20 co-insurance and a maximum out-of-pocket of $5000. If Stagmite were to incur covered expenses of $10,100, how much would Stag be out of pocket? - ANSWER - $2100 If all or part of a $500 deductible is offset by a Basic Medical policy, what type of deductible applies? - ANSWER - Integrated