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