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FLORIDA 240 LICENSE EXAM AND PRACTICE EXAM LATEST 2025
ACTUAL EXAM WITH COMPLETE QUESTIONS AND CORRECT
DETAILED ANSWERS (100% VERIFIED ANSWERS) |ALREADY
GRADED A+| ||PROFESSOR VERIFIED|| ||BRANDNEW!!!||
A Hospital/Surgical Expense policy was purchased for a family of
four in March of 2013. The policy was issued with a $500
deductible and a limit of four deductibles per calendar year. Two
claims were paid in September 2013, each incurring medical
expenses in excess of the deductible. Two additional claims were
filed in 2014, each in excess of the deductible amount as well.
What would be this family's out-of-pocket medical expenses for
2013? - ANSWER-$1,000
Which of the following statements BEST describes the intent of a
Coinsurance clause in a Major Medical policy? - ANSWER-
Discourages overutilization of the insurance coverage
Which of the following statements BEST describes dental care
indemnity coverage? - ANSWER-Services are reimbursed after
insurer receives the invoice
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C was injured while deep sea diving and requires a hospital stay.
C has a Major Medical policy with a 80/20 coinsurance clause and
a $400 deductible. What is the MAXIMUM C will pay if the
covered medical expenses are $2000? - ANSWER-$720
Which of the following policy features allows an insured to defer
current health charges to the following year's deductible instead
of he current year's deductible? - ANSWER-Carryover provision
M is insured under a basic Hospital/Surgical Expense policy. A
physician performs surgery on M. What determines the claim M is
eligible for? - ANSWER-Determined by the terms of the policy
N has a Major Medical policy that only pays a portion of N's
medical expenses. N is responsible for paying the remaining
balance. This provision is known as - ANSWER-coinsurance
With a Basic Medical Expense policy, what does the
hospitalization expense cover? - ANSWER-hospital room and
board
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Which of the following individual health insurance policies will
provide the broadest protection? - ANSWER-major medical
For which of the following expenses does a Basic Hospital policy
pay? - ANSWER-hospital room and board
In order to establish a Health Reimbursement Arrangement
(HRA), it MUST - ANSWER-be established by the employer
Which of the following health insurance coverages is BEST suited
for meeting the expenses of catastrophic illness? - ANSWER-
major medical
Which of these is NOT a characteristic of a Health
Reimbursement Arrangement (HRA)? - ANSWER-Employee
funds the HRA entirely
All of the following are limited benefit plans, EXCEPT: - ANSWER-
Life insurance policies
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The phrase "This policy will only pay for a semi-private room" is
an example of a(n): - ANSWER-Internal limit
M has a Major Medical insurance policy with a $200 flat
deductible and an 80% Coinsurance clause. If M incurs a $2,200
claim for an eligible medical expense, how much will M receive in
payment for this claim? - ANSWER-$1,600
Q is hospitalized for 3 days and receives a bill for $10,100. Q has
a Major Medical policy with a $100 deductible and 80/20
coinsurance. How much will Q be responsible for paying on this
claim? - ANSWER-$2,100
Which of the following types of health coverage frequently uses a
deductible? - ANSWER-Major Medical policy
Which of the following statements about Health Reimbursement
Areangements (HRA) is CORRECT? - ANSWER-If the employee
paid for qualified medical expenses, the reimbursements may be
tax-free
FLORIDA 240 LICENSE EXAM AND PRACTICE EXAM LATEST 2025
ACTUAL EXAM WITH COMPLETE QUESTIONS AND CORRECT
DETAILED ANSWERS (100% VERIFIED ANSWERS) |ALREADY
GRADED A+| ||PROFESSOR VERIFIED|| ||BRANDNEW!!!||
A Hospital/Surgical Expense policy was purchased for a family of
four in March of 2013. The policy was issued with a $500
deductible and a limit of four deductibles per calendar year. Two
claims were paid in September 2013, each incurring medical
expenses in excess of the deductible. Two additional claims were
filed in 2014, each in excess of the deductible amount as well.
What would be this family's out-of-pocket medical expenses for
2013? - ANSWER-$1,000
Which of the following statements BEST describes the intent of a
Coinsurance clause in a Major Medical policy? - ANSWER-
Discourages overutilization of the insurance coverage
Which of the following statements BEST describes dental care
indemnity coverage? - ANSWER-Services are reimbursed after
insurer receives the invoice
,2|Page
C was injured while deep sea diving and requires a hospital stay.
C has a Major Medical policy with a 80/20 coinsurance clause and
a $400 deductible. What is the MAXIMUM C will pay if the
covered medical expenses are $2000? - ANSWER-$720
Which of the following policy features allows an insured to defer
current health charges to the following year's deductible instead
of he current year's deductible? - ANSWER-Carryover provision
M is insured under a basic Hospital/Surgical Expense policy. A
physician performs surgery on M. What determines the claim M is
eligible for? - ANSWER-Determined by the terms of the policy
N has a Major Medical policy that only pays a portion of N's
medical expenses. N is responsible for paying the remaining
balance. This provision is known as - ANSWER-coinsurance
With a Basic Medical Expense policy, what does the
hospitalization expense cover? - ANSWER-hospital room and
board
,3|Page
Which of the following individual health insurance policies will
provide the broadest protection? - ANSWER-major medical
For which of the following expenses does a Basic Hospital policy
pay? - ANSWER-hospital room and board
In order to establish a Health Reimbursement Arrangement
(HRA), it MUST - ANSWER-be established by the employer
Which of the following health insurance coverages is BEST suited
for meeting the expenses of catastrophic illness? - ANSWER-
major medical
Which of these is NOT a characteristic of a Health
Reimbursement Arrangement (HRA)? - ANSWER-Employee
funds the HRA entirely
All of the following are limited benefit plans, EXCEPT: - ANSWER-
Life insurance policies
, 4|Page
The phrase "This policy will only pay for a semi-private room" is
an example of a(n): - ANSWER-Internal limit
M has a Major Medical insurance policy with a $200 flat
deductible and an 80% Coinsurance clause. If M incurs a $2,200
claim for an eligible medical expense, how much will M receive in
payment for this claim? - ANSWER-$1,600
Q is hospitalized for 3 days and receives a bill for $10,100. Q has
a Major Medical policy with a $100 deductible and 80/20
coinsurance. How much will Q be responsible for paying on this
claim? - ANSWER-$2,100
Which of the following types of health coverage frequently uses a
deductible? - ANSWER-Major Medical policy
Which of the following statements about Health Reimbursement
Areangements (HRA) is CORRECT? - ANSWER-If the employee
paid for qualified medical expenses, the reimbursements may be
tax-free
