Florida Health and Life Insurance State
Exam Practice Part 1 Questions and
Answers Graded A+
Which Accident and Health policy provision addresses preexisting conditions? -
Correct answer-Time Limit on Certain Defenses
Which of the following individual health insurance policies will provide the
broadest protection? - Correct answer-Major Medical
Which of the following situations does NOT apply to the Florida Replacement
Rule? - Correct answer-An existing policyholder purchases an additional policy
from the same insurer
Agent J takes an application and initial premium from an applicant and sends the
application and premium check to the insurance company. The insurance company
returns the check back to J because the check is made out to J instead of the
insurance company. What action should J take? - Correct answer-Return to the
customer, collect a new check made out to the insurance company, and send the
new check out to the insurance company
,Under which of the following circumstances will the benefits under COBRA
continuation coverage end? - Correct answer-All group health plans are terminated
by the employer
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? - Correct answer-Garunteed Renewable
An incomplete life insurance application submitted to an insurer will result in
which of these actions? - Correct answer-Application will be returned to the
writting agent
The waiting period for a pre-existing condition under a Medicare Supplement
policy may NOT go beyond - Correct answer-6 Months
Which of these statements is INCORRECT regarding the federal income tax
treatment of life insurance? - Correct answer-Entire cash surrender value is taxable
Which of these is considered a mandatory provision? - Correct answer-Payment of
Claims
Which of the following actions will an insurance company most likely NOT take if
an applicant, who has diabetes, applies for a Disability Income policy? - Correct
answer-Issue the policy with an altered Time of Payment of Claims provision
, Which of the following phrases refers to the fees charged by a healthcare
professional? - Correct answer-Usual, customary, and reasonable expenses
D was actively serving in the Marines when he was killed in an automobile
accident while on leave. His $100,000 Whole life policy contains a War Exclusion
clause. How much will D's beneficiary's receive? - Correct answer-The full face
amount
N is covered under an individual Disability policy with a 30-day Elimination
period and a monthly benefit of $500. N is totally disabled for 3 1/2 months. N's
total benefit received on this claim is: - Correct answer-$1,250
No benefits are available during the elimination period.
Who does an agent represent during the solicitation or insurance? - Correct answer-
The insurance company
Which of the following costs would a Basic Hospital/Surgical policy likely cover?
- Correct answer-Sugically removing a facial birthmark
The federal income tax treatment of employer-provided group Medical Expense
insurance can be accurately described as: - Correct answer-Employee's premiums
paid by the employer is tax-deductible to the employer as a business expenditure
Exam Practice Part 1 Questions and
Answers Graded A+
Which Accident and Health policy provision addresses preexisting conditions? -
Correct answer-Time Limit on Certain Defenses
Which of the following individual health insurance policies will provide the
broadest protection? - Correct answer-Major Medical
Which of the following situations does NOT apply to the Florida Replacement
Rule? - Correct answer-An existing policyholder purchases an additional policy
from the same insurer
Agent J takes an application and initial premium from an applicant and sends the
application and premium check to the insurance company. The insurance company
returns the check back to J because the check is made out to J instead of the
insurance company. What action should J take? - Correct answer-Return to the
customer, collect a new check made out to the insurance company, and send the
new check out to the insurance company
,Under which of the following circumstances will the benefits under COBRA
continuation coverage end? - Correct answer-All group health plans are terminated
by the employer
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? - Correct answer-Garunteed Renewable
An incomplete life insurance application submitted to an insurer will result in
which of these actions? - Correct answer-Application will be returned to the
writting agent
The waiting period for a pre-existing condition under a Medicare Supplement
policy may NOT go beyond - Correct answer-6 Months
Which of these statements is INCORRECT regarding the federal income tax
treatment of life insurance? - Correct answer-Entire cash surrender value is taxable
Which of these is considered a mandatory provision? - Correct answer-Payment of
Claims
Which of the following actions will an insurance company most likely NOT take if
an applicant, who has diabetes, applies for a Disability Income policy? - Correct
answer-Issue the policy with an altered Time of Payment of Claims provision
, Which of the following phrases refers to the fees charged by a healthcare
professional? - Correct answer-Usual, customary, and reasonable expenses
D was actively serving in the Marines when he was killed in an automobile
accident while on leave. His $100,000 Whole life policy contains a War Exclusion
clause. How much will D's beneficiary's receive? - Correct answer-The full face
amount
N is covered under an individual Disability policy with a 30-day Elimination
period and a monthly benefit of $500. N is totally disabled for 3 1/2 months. N's
total benefit received on this claim is: - Correct answer-$1,250
No benefits are available during the elimination period.
Who does an agent represent during the solicitation or insurance? - Correct answer-
The insurance company
Which of the following costs would a Basic Hospital/Surgical policy likely cover?
- Correct answer-Sugically removing a facial birthmark
The federal income tax treatment of employer-provided group Medical Expense
insurance can be accurately described as: - Correct answer-Employee's premiums
paid by the employer is tax-deductible to the employer as a business expenditure
