Health Insurance Florida 2-40 Exam Questions and Answers
|Fall 2026/2027 Update | 100% Correct Latest (Graded A+)
Question 1
Which of the following is NOT a form of medical insurance?
-Business overhead expense
-Surgical expense
-Hospital expense
-Long term care
Correct Answer
Business overhead expense (Explanation:Business Overhead Expense insurance is designed to reimburse a business for
overhead expenses in the event a business owner becomes disabled. Expenses such as rent, utilities, telephone,
equipment, employees' salaries, etc.)
Question 2
All of the following are state or federal government programs that provide health insurance, EXCEPT?
-Medicare
-OASDI disability
-Medicaid
-Medigap
Correct Answer
Medigap (Explanation:A Medigap policy is a Medicare supplement insurance policy sold by private insurance companies
to fill "gaps" in Medicare Parts A and B.)
Page 1 of 151
,Question 3
What type of health insurance is available to assist low-income individuals?
Correct Answer
Medicaid
Question 4
What types of reserves are set aside and held by health insurance companies?
Correct Answer
Premium and Claims reserves (Explanation:Reserves are set aside for the payment of future claims.)
Question 5
Group health insurance is generally written on a basis that provides for dividends or experience rating. What is the basis
called?
Correct Answer
Participating (Explanation:Group plans written by mutual companies provide for dividends while stock companies
frequently issue experience-rated plans.)
Page 2 of 151
,Question 6
Which of the following is NOT TRUE regarding eligibility for subsidies for families under the new health care act?
-For those who make between 100-400% of the Federal Poverty -Level
-Cannot be covered by an employer
-Cannot be eligible for Medicare
-Can be eligible for Medicaid
Correct Answer
Can be eligible for Medicaid
Question 7
Which of the following operates as a corporation, society, or association to provide life insurance primarily for the mutual
benefit of its members, has a lodge or social system with rituals and representative form of government?
A) Mutual companies
B) Fraternal associations
C) Stock companies
-Fraternal benefit society
Correct Answer
B) Fraternal associations
Page 3 of 151
, Question 8
What does each member pay in a typical HMO plan?
-Fixed premium based on a deductible and copay
-Fixed premium whether or not plan is used
-Premium based on how often plan is used
Correct Answer
Fixed premium whether or not plan is used
Question 9
Which of the following is correct about those who are eligible for Medicare and wish to join an HMO?
-They must have a current Medicare supplement policy
-They must be told that'll be getting all the benefits from the Medicare Advantage plan
-They must be age 70 and above
-They must have been enrolled previously in an HMO
Correct Answer
They must be told that'll be getting all the benefits from the Medicare Advantage plan
Page 4 of 151
|Fall 2026/2027 Update | 100% Correct Latest (Graded A+)
Question 1
Which of the following is NOT a form of medical insurance?
-Business overhead expense
-Surgical expense
-Hospital expense
-Long term care
Correct Answer
Business overhead expense (Explanation:Business Overhead Expense insurance is designed to reimburse a business for
overhead expenses in the event a business owner becomes disabled. Expenses such as rent, utilities, telephone,
equipment, employees' salaries, etc.)
Question 2
All of the following are state or federal government programs that provide health insurance, EXCEPT?
-Medicare
-OASDI disability
-Medicaid
-Medigap
Correct Answer
Medigap (Explanation:A Medigap policy is a Medicare supplement insurance policy sold by private insurance companies
to fill "gaps" in Medicare Parts A and B.)
Page 1 of 151
,Question 3
What type of health insurance is available to assist low-income individuals?
Correct Answer
Medicaid
Question 4
What types of reserves are set aside and held by health insurance companies?
Correct Answer
Premium and Claims reserves (Explanation:Reserves are set aside for the payment of future claims.)
Question 5
Group health insurance is generally written on a basis that provides for dividends or experience rating. What is the basis
called?
Correct Answer
Participating (Explanation:Group plans written by mutual companies provide for dividends while stock companies
frequently issue experience-rated plans.)
Page 2 of 151
,Question 6
Which of the following is NOT TRUE regarding eligibility for subsidies for families under the new health care act?
-For those who make between 100-400% of the Federal Poverty -Level
-Cannot be covered by an employer
-Cannot be eligible for Medicare
-Can be eligible for Medicaid
Correct Answer
Can be eligible for Medicaid
Question 7
Which of the following operates as a corporation, society, or association to provide life insurance primarily for the mutual
benefit of its members, has a lodge or social system with rituals and representative form of government?
A) Mutual companies
B) Fraternal associations
C) Stock companies
-Fraternal benefit society
Correct Answer
B) Fraternal associations
Page 3 of 151
, Question 8
What does each member pay in a typical HMO plan?
-Fixed premium based on a deductible and copay
-Fixed premium whether or not plan is used
-Premium based on how often plan is used
Correct Answer
Fixed premium whether or not plan is used
Question 9
Which of the following is correct about those who are eligible for Medicare and wish to join an HMO?
-They must have a current Medicare supplement policy
-They must be told that'll be getting all the benefits from the Medicare Advantage plan
-They must be age 70 and above
-They must have been enrolled previously in an HMO
Correct Answer
They must be told that'll be getting all the benefits from the Medicare Advantage plan
Page 4 of 151
