Chapters 6 – 8 Florida Health
Insurance 240 Test Questions All
Answered Correct Answered Correct.
Which 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? -
Answer Guaranteed Renewable
Describe a Guaranteed Renewable Health Insurance policy. - Answer The premiums normally
increase at time of renewal for the entire class; renewed without proof of insurability; benefits
and coverage are not changed
According to Florida law, when must an agent deliver the Outline of Coverage to a Medicare
Supplement applicant? - Answer At the time of application
Within how many days after policy delivery can a Medicare Supplement policy be returned for a
100% premium refund? - Answer 30
P is a producer who noticed 5 questions on a health insurance application were not answered.
What actions should P take? - Answer Set up a meeting with the applicant to answer the
remaining questions
Group long-term care policy premiums are typically deducted from the employee's __________
and cost _________ than individual long term care coverage. - Answer income; less
Medicare Parts A and B is known as ______________. Part A covers ___________, while Part B
covers _____________. - Answer Original Medicare; Part A - hospitalization; Part B - doctor's
services
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 health insurance policy provisions specifies the insured, insurer, amount
and time of coverage, and covered perils? - Answer Insuring clause
, M owns an Individual Disability Income policy with a 30-day elimination period for sickness and
accidents and a monthly indemnity benefit of $500. If M is disabled for 3 1/2 months, what is
the MAXIMUM amount he would receive for an approved claim? - Answer $1,250
M's insurance company denied a reinstatement application for her lapsed health insurance
policy. The company did not notify M of this denial. How many days from the reinstatement
application date does the insurance company have to notify M of the denial before the policy
will be automatically placed back in force? - Answer 45 days
Deductibles are used in health insurance policies to do what? - Answer share costs and lower
overuse of medical services
During the course of an insurance transaction, if an applicant makes a false statement that is
also known as a ____________. - Answer misrepresentation
What do families pay who have children that are covered by the Florida Healthy Kids
Corporation? - Answer A portion of the premium
On an Accidental Death and Dismemberment (AD&D) insurance policy, who is qualified to
change the beneficiary designation? If the beneficiary is irrevocable, what must happen? -
Answer Policyowner; the policyowner must obtain the signature of that beneficiary before
making any changes
The insurer must provide a prospective LTC policy buyer with a - Answer Buyer's Guide and
Outline of Coverage
What can an agent provide to help a prospective Medicare Supplement client understand and
purchase the most appropriate product? - Answer Buyer's guide at the time of application
Accurately describe the Waiver of Premium provision in an Accident and Health policy. - Answer
Premiums are waived after the insured has been totally disabled for a specified time period;
premiums payed during the waiting period are refunded.
K has an Accidental Death and Dismemberment (AD&D) insurance policy where her husband is
beneficiary and her daughter is contingent beneficiary. If K and her husband are both killed in
an automobile accident, who would receive the AD&D benefit? - Answer K's daughter
Insurance 240 Test Questions All
Answered Correct Answered Correct.
Which 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? -
Answer Guaranteed Renewable
Describe a Guaranteed Renewable Health Insurance policy. - Answer The premiums normally
increase at time of renewal for the entire class; renewed without proof of insurability; benefits
and coverage are not changed
According to Florida law, when must an agent deliver the Outline of Coverage to a Medicare
Supplement applicant? - Answer At the time of application
Within how many days after policy delivery can a Medicare Supplement policy be returned for a
100% premium refund? - Answer 30
P is a producer who noticed 5 questions on a health insurance application were not answered.
What actions should P take? - Answer Set up a meeting with the applicant to answer the
remaining questions
Group long-term care policy premiums are typically deducted from the employee's __________
and cost _________ than individual long term care coverage. - Answer income; less
Medicare Parts A and B is known as ______________. Part A covers ___________, while Part B
covers _____________. - Answer Original Medicare; Part A - hospitalization; Part B - doctor's
services
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 health insurance policy provisions specifies the insured, insurer, amount
and time of coverage, and covered perils? - Answer Insuring clause
, M owns an Individual Disability Income policy with a 30-day elimination period for sickness and
accidents and a monthly indemnity benefit of $500. If M is disabled for 3 1/2 months, what is
the MAXIMUM amount he would receive for an approved claim? - Answer $1,250
M's insurance company denied a reinstatement application for her lapsed health insurance
policy. The company did not notify M of this denial. How many days from the reinstatement
application date does the insurance company have to notify M of the denial before the policy
will be automatically placed back in force? - Answer 45 days
Deductibles are used in health insurance policies to do what? - Answer share costs and lower
overuse of medical services
During the course of an insurance transaction, if an applicant makes a false statement that is
also known as a ____________. - Answer misrepresentation
What do families pay who have children that are covered by the Florida Healthy Kids
Corporation? - Answer A portion of the premium
On an Accidental Death and Dismemberment (AD&D) insurance policy, who is qualified to
change the beneficiary designation? If the beneficiary is irrevocable, what must happen? -
Answer Policyowner; the policyowner must obtain the signature of that beneficiary before
making any changes
The insurer must provide a prospective LTC policy buyer with a - Answer Buyer's Guide and
Outline of Coverage
What can an agent provide to help a prospective Medicare Supplement client understand and
purchase the most appropriate product? - Answer Buyer's guide at the time of application
Accurately describe the Waiver of Premium provision in an Accident and Health policy. - Answer
Premiums are waived after the insured has been totally disabled for a specified time period;
premiums payed during the waiting period are refunded.
K has an Accidental Death and Dismemberment (AD&D) insurance policy where her husband is
beneficiary and her daughter is contingent beneficiary. If K and her husband are both killed in
an automobile accident, who would receive the AD&D benefit? - Answer K's daughter
