Florida Health Insurance Exam Questions And Answers Verified 100% Correct

Florida Health Insurance Exam Questions And Answers Verified 100% Correct Blanket Medical Insurance - ANSWER -A policy that provides benefits for all medical costs, including doctor visits, hospitalization, and drugs Boycott - ANSWER -An unfair trade practice in which one person refuses to do business with another until he/she agrees to certain conditions Buyer's Guide - ANSWER -A booklet that describes insurance policies and concepts, and provides general information to help an applicant make an informed decision Cafeteria Plan - ANSWER -A selection of health care benefits from which an employee may choose the ones that he/she needs Capital Amount - ANSWER -A percentage of the principal amount of a policy paid to the insured if he/she suffered the loss of an appendage Carriers - ANSWER -Organizations that process claims and pay benefits in an insurance policy Cease and Desist Order - ANSWER -A demand of a person to stop committing an action that is in violation of a provision Certificate of Authority - ANSWER -A document that authorizes a company to start conducting business and specifies the kind(s) of insurance a company can transact. It is illegal for an insurance company to transact insurance without this certificate Certificate of Insurance - ANSWER -A written document that indicates that an insurance policy has been issued, and that states both the amounts and types of insurance provided Claim - ANSWER -A request for payment of the benefits provided by an insurance contract Coercion - ANSWER -An unfair trade practice in which an insurer uses physical or mental force to persuade an applicant to buy insurance Coinsurance - ANSWER -An agreement between an insurer and insured in which both parties are expected to pay a certain portion of the potential loss and other expenses Coinsurance Clause - ANSWER -A provision that states that the insurer and the insured will share the losses covered by the policy in a proportion agreed upon in advance Commissioner - ANSWER -The chief executive and administrative officer of the Insurance Department Comprehensive Policy - ANSWER -A plan that provides a package of health care services, including preventative care, routine physicals, immunization, outpatient services and hospitalization Comprehensive Major Medical - ANSWER -A combination of basic coverage and major medical coverage that features low deductibles, high maximum benefits, and coinsurance Concealment - ANSWER -The withholding of known facts which, if material, can void a contract Conditional Contract - ANSWER -A type of an agreement in which both parties must perform certain duties and follow rules of conduct to make the contract enforceable Consideration - ANSWER -The binding force in a contract that requires something of value to be exchanged for the transfer of risk. On the part of the insured is the representations made in the application and the payment of premium; on the part of the insurer is the promise to pay in the event of loss Consideration Clause - ANSWER -A part of the insurance contract that states that both parties must give something of value for the transfer of risk, and specifies the conditions of the exchange Consolidated Omnibus Budget Reconciliation Act (COBRA) of 1985 - ANSWER -The law that provides for the continuation of group health care benefits for the insured for up to 18 months if he/she terminates employment or is no longer eligible. and for the insured's dependents for up to 36 months incases of loss of eligibility due to death of the insured, divorce, or attainment of the limiting age Consumer Report - ANSWER -A written and/or oral statement regarding a consumer's credit, character, reputation, or habits collected by a reporting agency from employment records, credit reports, and other public sources Contract - ANSWER -An agreement between two or more parties enforceable by law Contributory - ANSWER -A group insurance plan that requires the employees to pay part of the premium Coordination of Benefits - ANSWER -A provision that helps determine the primary provider in situations where an insured is covered by more than one policy, thus avoiding claims overpayments Copayment - ANSWER -An arrangement in which an insured must pay a specified amount for services "up front" and the provider pays the remainder of the cost Custodial Care - ANSWER -Care that is rendered to help an insured complete his/her activities of daily living