FLORIDA HEALTH INSURANCE EXAM QUESTIONS WITH CORRECT SOLUTIONS , A+

Accident - cORRECT sOLUTION An unplanned, unforeseen event which occurs suddenly and at an unspecified place Accident Insurance - cORRECT sOLUTION A type of insurance that protects the insured against loss due to accidental bodily injury Accidental Bodily Injury - cORRECT sOLUTION Unplanned, unforeseen traumatic injury to the body Accidental Death and Dismemberment - cORRECT sOLUTION An insurance policy which pays a specified amount or a specified multiple of the insured's benefit if the insured dies, loses his/her sight, or loses two limbs due to an accident Accidental Death Benefits - cORRECT sOLUTION A policy rider that states that the cause of death will be analyzed to determine if it complies with the policy description of accidental death Activities of Daily Living - cORRECT sOLUTION Activities individuals must do every day such as moving about, getting dressed, eating, bathing, etc. Actual Charge - cORRECT sOLUTION The amount a physician or supplier actually bills for a particular service or supply Adhesion - cORRECT sOLUTION A contract offered on a "take-it-or-leave-it" basis by an insurer, in which the insured's only option is to accept or reject the contract. Any ambiguities in the contract will be settled in favor of the insured Admitted (Authorized) Insurer - cORRECT sOLUTION An insurance company authorized and licensed to transact insurance in a particular state Adult Day Care - cORRECT sOLUTION A program for impaired adults that attempts to meet their health, social, and functional needs in a setting away from their homes Adverse Selection - cORRECT sOLUTION The tendency of risks with higher probability of loss to purchase and maintain insurance more often than the risks who present lower probability Agent - cORRECT sOLUTION An individual who is licensed to sell, negotiate, or effect insurance contracts on behalf of the insurer Aleatory - cORRECT sOLUTION A contract in which participating parties exchange unequal amounts. Insurance contracts are this in that the amount the insured will pay in premiums is unequal to the amount the insurer will pay in the event of a loss Alien Insurer - cORRECT sOLUTION An insurance company that is incorporated outside the USA Apparent Authority - cORRECT sOLUTION The appearance or the assumption of authority based on the actions, words, or deeds of the principal or because of circumstances the principal created Approved Amount - cORRECT sOLUTION The amount Medicare determines to be reasonable for a service that is covered under Part B of Medicare Assignment - cORRECT sOLUTION A claim to a provider or medical supplier to receive payments directly from Medicare Attained Age - cORRECT sOLUTION The age of the insured at a determined date Attending Physician's Statement (APS) - cORRECT sOLUTION A statement usually obtained from the applicant's doctor Avoidance - cORRECT sOLUTION A method of dealing with risk (e.g. if a person wanted to avoid the risk of being killed in an airplane crash, he/she might choose never to fly in a plane) Basic Hospital Expense Insurance - cORRECT sOLUTION Coverage that provides benefits for room, board and miscellaneous hospital expenses for a certain number of days during a hospital stay Basic Medical Expense Insurance - cORRECT sOLUTION Coverage for doctor visits, x-rays, lab tests, and emergency room visits; benefits, however, are limited to specified dollar amounts Beneficiary - cORRECT sOLUTION The person who receives the proceeds from the policy when the insured dies Benefit Period - cORRECT sOLUTION The length of time over which the insurance benefits will be paid for each illness, disability or hospital stay Birthday Rule - cORRECT sOLUTION The method of determining primary coverage for a dependent child, under which the plan of the parent whose birthday occurs first in the calendar year, is designated as primary Blanket Medical Insurance - cORRECT sOLUTION A policy that provides benefits for all medical costs, including doctor visits, hospitalization, and drugs