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Exam (elaborations)

HEALTH INSURANCE (EXAM FX) 2025 LATEST UPDATE EXPERT VERIFIED QUESTIONS AND ANSWERS

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HEALTH INSURANCE (EXAM FX) 2025 LATEST UPDATE EXPERT VERIFIED QUESTIONS AND ANSWERS

Institution
TEXAS HEALTH AND LIFE INSURANCE
Course
TEXAS HEALTH AND LIFE INSURANCE









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Institution
TEXAS HEALTH AND LIFE INSURANCE
Course
TEXAS HEALTH AND LIFE INSURANCE

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Uploaded on
December 10, 2024
Number of pages
14
Written in
2024/2025
Type
Exam (elaborations)
Contains
Questions & answers

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HEALTH INSURANCE (EXAM FX) 2025 LATEST
UPDATE EXPERT VERIFIED QUESTIONS AND
ANSWERS

Agent/ProducerT-TcorrectTanswer-ATlegalTrepresentativeTofTanTinsuranceTcompany


BrokerT-TcorrectTanswer-
AnTinsuranceTproducerTnotTappointedTbyTanTinsurerTandTwhomTrepresentsTtheTclient


InsuredT-TcorrectTanswer-ATpersonTcoveredTbyTanTinsuranceTpolicy


InsuranceTpolicyT-TcorrectTanswer-
ATlegalTcontractTbetweenTaTpolicyownerT(and/orTinsured)TandTanTinsuranceTcompanyTwhichTagreesTtoTpayT
theTinsured/beneficiaryTforTlossesTcausedTbyTspecificTevents


PrincipalT-TcorrectTanswer-Insurer,TcompanyTwhoTissuesTinsuranceTpolicies


PolicyownerT-TcorrectTanswer-TheTpersonTentitledTtoTexerciseTtheTrightsTandTprivilegesTinTaTpolicy


PremiumT-TcorrectTanswer-TheTmoneyTpaidTtoTtheTinsuranceTcompanyTforTtheTinsuranceTpolicy


ReciprocalT-TcorrectTanswer-ATmutualTinterchangeTofTrightsTandTprivileges


RiskT-TcorrectTanswer-ChanceTofTaTlossToccurring


PureTRiskT-TcorrectTanswer-SituationsTthatTcanTonlyTresultTinTaTloss


SpeculativeTRiskT-TcorrectTanswer-SituationsTthatTcanTresultTinTeitherTaTlossTorTgain


HazardT-TcorrectTanswer-ConditionsTorTsituationsTthatTincreaseTtheTchanceTofTaTlossToccurring

, PhysicalTHazardT-TcorrectTanswer-
IndividualTcharacteristicsTthatTincreaseTtheTchanceTofTaTlossT(i.e.TpastTmedicalThistory,Tblindness)


MoralTHazardT-TcorrectTanswer-
TendenciesTtowardsTincreasingTriskTsuchTasTlyingTonTapplicationsTorTsubmittingTfraudulentTclaims


MoraleTHazardT-TcorrectTanswer-
AriseTfromTaTstateTofTmindTthatTcausesTindifferenceTtoTlossTsuchTasTcarelessness


PerilT-TcorrectTanswer-SpecificTcauseTofTaTlossTsuchTasTdeath,TsicknessTorTaccidents


LossT-TcorrectTanswer-
Reduction,Tdecrease,TorTdisappearanceTofTvalueTofTtheTpersonTorTpropertyTcausedTbyTaTnamedTperil


SharingT-TcorrectTanswer-
MethodTofTdealingTwithTriskTwhereTaTgroupTwithTtheTsameTorTsimilarTexposureTtoTlossTdivvyTupTtheTlossesT
thatToccurTwithinTthatTgroup;TreciprocalTinsuranceTexchangeTisTaTformalTrisk-[T?T]Tarrangement


TransferT-TcorrectTanswer-
MostTeffectiveTwayTtoThandleTrisk;TrelievesTtheTinsuredTofTtheTfinancialTlossesTrisksTcanTbring


AvoidanceT-TcorrectTanswer-CompletelyTeliminatingTexposureTtoTloss;TeffectiveTbutTseldomTpractical


RetentionT-TcorrectTanswer-AKATself-
insurance;TinsuredTacceptsTresponsiblityTforTtheTlossTbeforeTtheTinsuranceTcompanyTpaysTthroughTuseTofTd
eductiblesTandTco-payments


ReductionT-TcorrectTanswer-
ActTofTlesseningTtheTpossiblityTorTseverityTofTaTlossT(i.e.TmakingThealthyTchangesTinTlifestyle)


ElementsTofTInsurableTRisksT-TcorrectTanswer-
DueTtoTchance,Tmeasurable,Tpredictable,TnotTcatastrophic,TlargeTrandomTlossTexposure


ClassificationsTofTInsurersT-TcorrectTanswer-Ownership,Tdomicile,TandTauthority

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