Florida 240 Practice Exam 2026
With Questions And Answers
A medical expense policy that establishes the amount of benefit paid based upon
the prevailing charges which fall within the standard range of fees normally
charged for a specific procedure by a doctor of similar training and experience in
that geographic area is known as - correct answer-Usual, customary and
reasonable
What provision would prevent an insurance company from paying a
reimbursement claim to someone other than the policyowner? - correct
answer-Payment of Claims
All of the following are true about group disability Income insurance EXCEPT
a) The longer the waiting period, the lower the premium.
b) Coverage applies both on and off the job.
c) Benefits are usually short term.
d) The waiting period starts at the onset of the injury or sickness. - correct
answer-Coverage applies both on and off the job.
Which of the following statements regarding Business Overhead Expense policies
is NOT true?
a) Premiums paid for BOE are tax-deductible.
b) Any benefits received are taxable to the business.
, c) Leased equipment expenses are covered by the plan.
d) Benefits are usually limited to six months, - correct answer-d) Benefits are
usually limited to six months
In long-term care insurance, what type of care is provided with intermediate care?
- correct answer-Occasional nursing or rehabilitative care
After a person's employment is terminated, it is possible to obtain individual health
insurance after losing the group health coverage provided by the employer. Which
of the following is NOT true?
a) The employee can convert from group to individual insurance within 31 days
of termination.
b) The premium of the individual health insurance policy can be higher than the
original policy.
c) By law, the new, individual policy must provide the same benefits as the
group insurance policy.
d) Continuation of group coverage need not include dental, vision, or
prescription drug benefits. - correct answer-c) By law, the new, individual
policy must provide the same benefits as the group insurance policy.
An insured has endured multiple surgeries and hospitalizations for an illness
during the last few months. Her insurer no longer bills her for medical
expenses. Which of the following allows for that?
a) Waiver of premium
b) Maximum loss
c) Stop-loss limit
With Questions And Answers
A medical expense policy that establishes the amount of benefit paid based upon
the prevailing charges which fall within the standard range of fees normally
charged for a specific procedure by a doctor of similar training and experience in
that geographic area is known as - correct answer-Usual, customary and
reasonable
What provision would prevent an insurance company from paying a
reimbursement claim to someone other than the policyowner? - correct
answer-Payment of Claims
All of the following are true about group disability Income insurance EXCEPT
a) The longer the waiting period, the lower the premium.
b) Coverage applies both on and off the job.
c) Benefits are usually short term.
d) The waiting period starts at the onset of the injury or sickness. - correct
answer-Coverage applies both on and off the job.
Which of the following statements regarding Business Overhead Expense policies
is NOT true?
a) Premiums paid for BOE are tax-deductible.
b) Any benefits received are taxable to the business.
, c) Leased equipment expenses are covered by the plan.
d) Benefits are usually limited to six months, - correct answer-d) Benefits are
usually limited to six months
In long-term care insurance, what type of care is provided with intermediate care?
- correct answer-Occasional nursing or rehabilitative care
After a person's employment is terminated, it is possible to obtain individual health
insurance after losing the group health coverage provided by the employer. Which
of the following is NOT true?
a) The employee can convert from group to individual insurance within 31 days
of termination.
b) The premium of the individual health insurance policy can be higher than the
original policy.
c) By law, the new, individual policy must provide the same benefits as the
group insurance policy.
d) Continuation of group coverage need not include dental, vision, or
prescription drug benefits. - correct answer-c) By law, the new, individual
policy must provide the same benefits as the group insurance policy.
An insured has endured multiple surgeries and hospitalizations for an illness
during the last few months. Her insurer no longer bills her for medical
expenses. Which of the following allows for that?
a) Waiver of premium
b) Maximum loss
c) Stop-loss limit
