Florida Health Insurance Exam Questions With Verified Solutions

Florida Health Insurance Exam Questions With Verified Solutions Health insurance benefits NOT covered due to an act of war are: - answerexcluded by the insurer in the contract provisions Which type of 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? - answerGuaranteed Renewable Which of the following statements about a Guaranteed Renewable Health Insurance policy is CORRECT? - answerPremiums normally increase at time of renewal Which mode of payment is NOT used by health insurance policies? - answerSingle premium Who owns a stock company? - answerits stockholders According to Florida law, when must an agent deliver the Outline of Coverage to a Medicare Supplement applicant? - answerAt the time of application Within how many days after policy delivery can a Medicare Supplement policy be returned for a 100% premium refund? - answer30 P is a producer who notices 5 questions on a health application were not answered. What actions should P take? - answerSet up a meeting with the applicant to answer the remaining questions Group/voluntary long-term care policy premiums are typically deducted from the employee's income and, - answerare less costly as compared to individual long term care coverage The Florida Employee Health Care Access Act was established to make - answergroup health insurance available to employers with up to 50 employees What does Medicare Parts A and B cover? - answerPart A covers hospitalization; Part B covers 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 health care services a policy will provide? - answerInsuring clause G is involved in an automobile accident as a result of driving while intoxicated and suffers numerous injuries. According to the Intoxicants and Narcotics exclusion in G's policy, who is responsible for paying the medical bills? - answerThe insured A Multiple Employer Welfare Arrangement (MEWA) provides what type of benefits? - answerInsurance An insured owns an individual Disability Income policy with a 30-day Elimination Period for sickness and accidents and a monthly indemnity benefit of $500. If the insured 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? - answer45 days All of the following statements regarding group health insurance is true, EXCEPT: - answerAn individual policy is given to each member Deductibles are used in health policies to lower: - answeroveruse of medical services During the course of an insurance transaction, if an agent makes a false or incomplete statement, he/she could be found guilty of - answermisrepresentation What do families pay that are covered by the Florida Healthy Kids Corporation? - answerA portion of the premium An agent selling Medicare Supplement policies must provide every applicant with a(n) - answerSuitability form What is required in the Florida Employee Health Care Access Act? - answerSmall group benefit plans are to be issued on a "guarantee-issue" basis All of the following entries are classified under the four principal areas of Florida insurance law EXCEPT - answerAn agent's commission If an individual has an Accidental Death and Dismemberment policy and dies, an autopsy can be performed in all these situations, EXCEPT: - answerWhen the state prohibits this by law A license may be denied, suspended, or revoked if the licensee - answeris found guilty of misrepresentation On an Accidental Death and Dismemberment (AD&D) insurance policy, who is qualified to change the beneficiary designation? - answerPolicyowner