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XCEL Florida Insurance Exam questions and correct answers What is the name of the law that requires insurers to disclose information gathering practices and where the information is obtained - ANSWERS Fair Credit Reporting Act Which of these describe a participating insurance policy - ANSWERS Policy owners are entitled to receive dividends Who elects the governing body of a mutual insurance company - ANSWERS Policyholders Which of the following requires insurer to disclose when an ap...

Past Questions From ACHE's Board of Governors Exam questions and correct answers For the routine service cost center, an increase in the number of patient days over the budgeted number of patient days will result in: 1. A higher average cost per patient day. 2. A lower average cost per patient day. 3. An increase in the budgeted fixed costs for the routine service cost center. 4.No change in the average cost per patient day. - ANSWERS 2. Which of the following balance sheet items wo...

Insurance Suite Fundamentals 10.0 exam 100% questions and correct answers What are the three tiers in GW application architecture - ANSWERS Data, application, presentation (or user interface/web clients) In which tier are the following used? PCF Files, Gosu, and Data model entities? - ANSWERS Presentation, application, and data respectively For each of the following, identify if it is stored as a database table, as a table column, or not stored in the database at all: a) An entity (s...

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Fundamentals of Insurance (BC) - Self-Examination Chapter Questions and correct answers What is the major function of insurance? - ANSWERS To allow the spread of risk. Define "Spread of Risk" - ANSWERS "The losses of the few are shared among the many" What are the 4 other functions of insurance? - ANSWERS 1. Basis of Credit System 2. Eliminates worry - Encourages Entrepreneurship 3. Loss Prevention and Loss Reduction 4. Source of Employment and Investment Capital What are the 3...

Fundamentals of Insurance BC questions and answers graded A+ What is the major function of insurance? - ANSWERS to allow the spread of risk What are the five important functions of insurance? - ANSWERS 1) insurance is the shifting of financial responsibility for a loss 2) payment will be made only in the event of an insured risk 3) the amount of payment is restricted to the amount required to indemnify the insured 4) insurance covers losses the object may be exposed to 5) the indemnit...

FUNDAMENTALS OF INSURANCE BC EXAM 100% QUESTIONS AND ANSWERS RISK - ANSWERS IS THE CHANCE OF FINANCIAL LOSS PERIL - ANSWERS IS THE CAISE OF FINANCIAL LOSS FOR EXAMPLE- FIRE WATER AND EARTHQUAKE WHAT IS THE MAIN PURPOSE OF INSURANCE - ANSWERS IS TO ALLOW THE SPREAD OF RISK INDEMNITY - ANSWERS MEANS RESTORING THE INSUREDS TO THE SAM FINANCIAL POSITION AS THEY WERE IN IMMEDIATELY PRIOR TO THE LOSS. WHOSE OPTION IS TO OF HOW THEY WANT TO SETTLE A CLAIM? - ANSWERS THE INSURER INSURA...

Fundamentals of Insurance (BC) - Self-Examination Chapter Questions and correct answers What is the major function of insurance? - ANSWERS To allow the spread of risk. Define "Spread of Risk" - ANSWERS "The losses of the few are shared among the many" What are the 4 other functions of insurance? - ANSWERS 1. Basis of Credit System 2. Eliminates worry - Encourages Entrepreneurship 3. Loss Prevention and Loss Reduction 4. Source of Employment and Investment Capital What are the 3...

Fundamental of Insurance & Risk exam questions and answers 2024 Which of the following types of families is likely to have the least need for a large amount of life insurance? A) blended family B) traditional family C) single person family D) sandwich family - ANSWERS c The human life value is defined as the A) present value of a deceased breadwinner's future gross income. B) future value of a deceased breadwinner's past earnings. C) present value of the family's share of a decea...

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Florida Insurance Exam questions and answers 2024 The clause identifying which losses resulting from an accident or sickness are insured by the policy is called the: - ANSWERS Insuring clause K applies for a life insurance policy on herself and submits the initial premium with the application. She is given a receipt by the agent stating that coverage begins immediately if the application is approved. What kind of receipt was used? - ANSWERS Conditional A life insurance arrangement ...

Florida Insurance Exam 100% questions and correct answers Risk - ANSWERS the chance of financial loss Risk is NOT the loss itself, but the _________ of loss. - ANSWERS CHANCE Policy - ANSWERS a written contract for effecting insurance and includes Clauses, Riders, endorsements, and papers which are part of the contract Insurance - ANSWERS a contract where one undertakes to indemnify another or pay a specific amount determined on contingencies Binders - ANSWERS temporary insurance whic...

Florida Insurance Exam (2-15) questions and answers 2024 A Supplementary Medical Expense policy combines the benefits of what two types of plans? - ANSWERS Basic Medical and Major Medical Which of the following is not correct concerning Health Maintenance Organizations? - ANSWERS They mandate enrollment for groups of 25 or more. Which is not true concerning a Hospital Fixed-Rate plan? - ANSWERS Benefits are paid directly to the hospital When benefits are paid to a policyowner covered ...

FACHE - ACHE BOG EXAM SAMPLE TEST QUESTIONS – HEALTHCARE WITH VERIFIED ANSWERS Which of the following si true about a capitated Managed Care Organization (MCO) arrangement: a) The provider shifts financial risk to the MCO b) The provider can bil separately for each service provided c) The provider must wait to bil the MCO until services have been provided to a patient d) The provider is paid a set fee - ANSWERS d) The provider is paid a set fee Which of the following is a unit of ...

Ati fundamentals of Insurance exam 100% questions and answers The coverage limits on Homeowners Insurance Policies are determined after calculating the Replacement Cost of the dwelling building. Once this value is determined, the rest of the coverage limits are calculated. Which of the following coverage limits is correct? a) Personal Property- 100% of Coverage A b) Detached Private Structures - 10% of Coverage A c) Additional Living Expenses- - 10% of Coverage A d) Dwelling- 100% of ...

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APEA 3P TEST BANK WITH ANSWERS (A+ GUIDE) QUESTIONS AND CORRECT ANSWERS When examining the skin, multiple areas of circumscribed elevations of the skin filled with serous fluid measuring approximately 0.5cm were noted. These types of lesions could be seen in: - ANSWERS a. Herpes simplex or varicella The principal muscles involved when closing the mouth are innervated by which cranial nerve? - ANSWERS a. Cranial nerve V (Trigeminal) The structure that creates a channel for the vertebral...

APEA 3P TEST BANK Advance Health Assessment exam quesyions and correct answers When examining the skin, multiple areas of circumscribed elevations of the skin filled with serous fluid measuring approximately 0.5cm were noted. These types of lesions could be seen in: - ANSWERS a. Herpes simplex or varicella The principal muscles involved when closing the mouth are innervated by which cranial nerve? - ANSWERS a. Cranial nerve V (Trigeminal) The structure that creates a channel for the ve...

ACHE - BOG Exam - Additional Sample Questions and correct answers The interpretation of the healthcare organization's role with respect to healthcare values would require: a. Establishing corporate goals and major institutional policies b. Ensuring that the community served by the facility is well informed about the organization's goals and performances c. Developing a mission statement indicating the organization's fundamental purpose or reason for existence, in order to guide or...

ACHE - BOG Exam - Additional Sample Questions and answers 2024 The interpretation of the healthcare organization's role with respect to healthcare values would require: a. Establishing corporate goals and major institutional policies b. Ensuring that the community served by the facility is well informed about the organization's goals and performances c. Developing a mission statement indicating the organization's fundamental purpose or reason for existence, in order to guide organ...