Health Insurance Florida 2 40 - Study guides, Class notes & Summaries

Health Insurance Florida 2-40 Test Questions and Answers |Fall 2026/2027 Update | 100% Correct

Health Insurance Florida 2-40 Practice Exam Questions and Answers |Fall 2026/2027 Update | 100% Correct Latest (Graded A+)

Health Insurance Florida 2-40 Exam Questions and Answers |Fall 2026/2027 Update | 100% Correct Latest (Graded A+)

Accident - Answer An unplanned, unforeseen event which occurs suddenly and at an unspecified place Accident Insurance - Answer A type of insurance that protects the insured against loss due to accidental bodily injury Accidental Bodily Injury - Answer Unplanned, unforeseen traumatic injury to the body Accidental Death and Dismemberment - Answer An insurance policy which pays a specified amount or a specified multiple of the insured's benefit if the insured die...

Which of the following statements regarding the tax treatment of medical expense insurance premiums and benefits is correct? - premiums are not deductible and benefits are taxable - premiums are not deductible and benefits are not taxable - premiums may be deductible as an unreimbursed medical expense and benefits are taxable - premiums may be deductible as an unreimbursed medical expense and benefits are not taxable - Answer premiums may be deductible as an unreimbursed medical expe...

Insured - Answer The person covered by the insurance policy. Rider - Answer A written modification attached to a policy that increases or decreases coverage and/or premiums. What is a unilateral contract? - Answer A contract in which only one of the parties is legally bound to fulfill its obligations. What law protects consumers from the circulation of inaccurate or obsolete information? - Answer The Fair Credit Reporting Act. What are the three types of agent...

A) Basic Hospital/Surgical and Major Medical - Answer Comprehensive Medical Expense Insurance combines which of the following coverage in one policy: A) Basic Hospital/Surgical and Major Medical B) Disability Income and Accidental Death and Dismemberment C) Disability Income and Basic Hospital/Surgical D) Major Medical and Accidental Death and Dismemberment B) The amount paid will be reduced - Answer If the client goes out of the network for services on a PPO: A) There is no ...

Which of the following laws requires an insurer to notify an applicant in writing that an investigative consumer report may be made on the applicant? -Uniform Provisions Law. -Freedom of Information Act. -Medical Information Bureau Disclosure Act -Fair Credit Reporting Act (Insurance Information and Privacy Protection Act) - Answer Fair Credit Reporting Act (Insurance Information and Privacy Protection Act) Group health insurance specifies that what percentage of eligible individual...

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...

The stated amount or percent of liquid assets that an insurer must have on hand that will satisfy future obligations to its policyholders is called: - Answer Reserves An insurance applicant MUST be informed of an investigation regarding his/her reputation and character according to the: - Answer Fair Credit Reporting Act A nonprofit incorporated society that does not have capital stock and operates for the sole benefit of its members is known as: - Answer A fraternal bene...