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Terms in this set (1042)
Which Unfair Trade Misrepresentation
Practice involves making a
false statement on an
insurance application in
order to receive money
from an insurer?
Who owns a stock A stock insurance company is owned by its
company? stockholders.
In Florida, which of the Coercion
following is considered an
Unfair Trade Practice?
Which of these options Prescription drugs are an allowable expense when
can an individual use their paid for by a medical flexible spending account.
medical flexible spending
account to pay for?
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2 #$%$%$^$@**#&^#*&&%(%%^&*()
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Which of the following The conversion privilege allows an individual to leave
features of a group Term the group term plan and continue his or her insurance
Life policy enables an without providing evidence of insurability.
individual to leave the
group and continue his or
her insurance without
providing evidence of
insurability?
An example of false An insurer exaggerating its dividends in a magazine
advertising would be advertisement
Q purchases a $500,000 Aleatory.
life insurance policy and Insurance contracts are aleatory in that the amount
pays $900 in premiums the insured will pay in premiums is unequal to the
over the first six months. Q amount that the insurer will pay in the event of a loss.
dies suddenly and the
beneficiary is paid
$500,000. This exchange
of unequal values reflects
which of the following
insurance contract
features?
An example of an unfair Making a material misrepresentation to an insured is
trade practice is considered to be an unfair trade practice.
How would a contingent A contingent beneficiary will receive the policy
beneficiary receive the proceeds if the primary beneficiary dies before the
policy proceeds in an insured's death.
Accidental Death and
Dismemberment (AD&D)
policy?
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Risk classification.
Which of these terms
Underwriting, another term for risk selection, is the
accurately defines an
process of reviewing the many characteristics that
underwriter's assessment
make up the risk profile of an applicant to determine if
of information on a life
the applicant is insurable and, if so, at standard or
insurance application?
substandard rates.
T applies for a life Conditional receipt.
insurance policy and is
told by the producer that A conditional receipt binds the insurer to coverage as
the insurer is bound to the of the date of the application or medical exam,
coverage as of the date of provided the proposed insured is determined to be
the application or medical an acceptable risk.
examination, whichever is
later. Assuming that T is an
acceptable risk, what item
is given to T?
What is required in the Small group benefit plans are to be issued on a
Florida Employee Health "guarantee-issue" basis
Care Access Act?
P and Q are married and P.
have three children. P is In this situation, benefits will be paid to P because P
the primary beneficiary on survived the accident and is the primary beneficiary.
Q's Accidental Death and
Dismemberment (AD&D)
policy and Q's sister R is
the contingent beneficiary.
P, Q, and R are involved in
a car accident and Q and
R are killed instantly. The
Accidental Death benefits
will be paid to
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The health insurance Medicaid- is funded by both the federal and state
program which is governments and administered by individual states.
administered by each
state and funded by both
the federal and state
governments is called
Which of the following Nonrenewable.
BEST describes a short- A typical short-term medical expense policy is best
term medical expense described as nonrenewable.
policy?
Which of the following A minimum number of employees is required to
statements about participate". Noncontributory employee group life
noncontributory insurance plans must cover ALL eligible employees at
employee group life all times
insurance is FALSE?
A Disability Income Claim will be paid and coverage will remain in force.
policyowner recently
submitted a claim for a After a policy has been in force for 2 (sometimes 3)
chronic neck problem that years, it enters the incontestable period, in which the
has now resulted in total insurer may not deny a claim based on information
disability. The original neck not disclosed at the time of application.
injury occurred before the
application was taken 5
years prior. The neck injury
was never disclosed to the
insurer at the time of
application. How will the
insurer handle this claim?
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Final Exam - Florida Life and Health exam bank.pdf #$%$%$^$@**#&^#*&&%(%%^&*()
Final Exam - Florida Life and Health, Final Exam -
Florida Life and Health
Save
Terms in this set (1042)
Which Unfair Trade Misrepresentation
Practice involves making a
false statement on an
insurance application in
order to receive money
from an insurer?
Who owns a stock A stock insurance company is owned by its
company? stockholders.
In Florida, which of the Coercion
following is considered an
Unfair Trade Practice?
Which of these options Prescription drugs are an allowable expense when
can an individual use their paid for by a medical flexible spending account.
medical flexible spending
account to pay for?
Page 1 #$%$%$^$@**#&^#*&&%(%%^&*() Page 1 of 205 #$%$%$^$@**#&^#*&&%(%%^&*() 1 of 205 #$%$%$^$@**#&^#*&&%(%%^&*()
,Final Exam - Florida Life and Health exam bank #$%$%$^$@**#&^#*&&%(%%^&*()
2 #$%$%$^$@**#&^#*&&%(%%^&*()
Final Exam - Florida Life and Health exam bank.pdf #$%$%$^$@**#&^#*&&%(%%^&*()
Which of the following The conversion privilege allows an individual to leave
features of a group Term the group term plan and continue his or her insurance
Life policy enables an without providing evidence of insurability.
individual to leave the
group and continue his or
her insurance without
providing evidence of
insurability?
An example of false An insurer exaggerating its dividends in a magazine
advertising would be advertisement
Q purchases a $500,000 Aleatory.
life insurance policy and Insurance contracts are aleatory in that the amount
pays $900 in premiums the insured will pay in premiums is unequal to the
over the first six months. Q amount that the insurer will pay in the event of a loss.
dies suddenly and the
beneficiary is paid
$500,000. This exchange
of unequal values reflects
which of the following
insurance contract
features?
An example of an unfair Making a material misrepresentation to an insured is
trade practice is considered to be an unfair trade practice.
How would a contingent A contingent beneficiary will receive the policy
beneficiary receive the proceeds if the primary beneficiary dies before the
policy proceeds in an insured's death.
Accidental Death and
Dismemberment (AD&D)
policy?
Page 2 #$%$%$^$@**#&^#*&&%(%%^&*() Page 2 of 205 #$%$%$^$@**#&^#*&&%(%%^&*() 2 of 205 #$%$%$^$@**#&^#*&&%(%%^&*()
,Final Exam - Florida Life and Health exam bank #$%$%$^$@**#&^#*&&%(%%^&*()
3 #$%$%$^$@**#&^#*&&%(%%^&*()
Final Exam - Florida Life and Health exam bank.pdf #$%$%$^$@**#&^#*&&%(%%^&*()
Risk classification.
Which of these terms
Underwriting, another term for risk selection, is the
accurately defines an
process of reviewing the many characteristics that
underwriter's assessment
make up the risk profile of an applicant to determine if
of information on a life
the applicant is insurable and, if so, at standard or
insurance application?
substandard rates.
T applies for a life Conditional receipt.
insurance policy and is
told by the producer that A conditional receipt binds the insurer to coverage as
the insurer is bound to the of the date of the application or medical exam,
coverage as of the date of provided the proposed insured is determined to be
the application or medical an acceptable risk.
examination, whichever is
later. Assuming that T is an
acceptable risk, what item
is given to T?
What is required in the Small group benefit plans are to be issued on a
Florida Employee Health "guarantee-issue" basis
Care Access Act?
P and Q are married and P.
have three children. P is In this situation, benefits will be paid to P because P
the primary beneficiary on survived the accident and is the primary beneficiary.
Q's Accidental Death and
Dismemberment (AD&D)
policy and Q's sister R is
the contingent beneficiary.
P, Q, and R are involved in
a car accident and Q and
R are killed instantly. The
Accidental Death benefits
will be paid to
Page 3 #$%$%$^$@**#&^#*&&%(%%^&*() Page 3 of 205 #$%$%$^$@**#&^#*&&%(%%^&*() 3 of 205 #$%$%$^$@**#&^#*&&%(%%^&*()
, Final Exam - Florida Life and Health exam bank #$%$%$^$@**#&^#*&&%(%%^&*()
4 #$%$%$^$@**#&^#*&&%(%%^&*()
Final Exam - Florida Life and Health exam bank.pdf #$%$%$^$@**#&^#*&&%(%%^&*()
The health insurance Medicaid- is funded by both the federal and state
program which is governments and administered by individual states.
administered by each
state and funded by both
the federal and state
governments is called
Which of the following Nonrenewable.
BEST describes a short- A typical short-term medical expense policy is best
term medical expense described as nonrenewable.
policy?
Which of the following A minimum number of employees is required to
statements about participate". Noncontributory employee group life
noncontributory insurance plans must cover ALL eligible employees at
employee group life all times
insurance is FALSE?
A Disability Income Claim will be paid and coverage will remain in force.
policyowner recently
submitted a claim for a After a policy has been in force for 2 (sometimes 3)
chronic neck problem that years, it enters the incontestable period, in which the
has now resulted in total insurer may not deny a claim based on information
disability. The original neck not disclosed at the time of application.
injury occurred before the
application was taken 5
years prior. The neck injury
was never disclosed to the
insurer at the time of
application. How will the
insurer handle this claim?
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