FLORIDA 240 LICENSE EXAM AND PRACTICE EXAM NEWEST 2024 ACTUAL EXAM COMPLETE 300 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) ALREADY GRADED A+.pdf

FLORIDA 240 LICENSE EXAM QUESTION BANK m m m m m




| 2025 LICENSE FLORIDA 240 ACTUAL EXAM WI
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TH CORRECT VERIFIED ANSWERS | ALREADY G
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RADED A+ | BRAND NEW m m m m




T files a claim on his Accident and Health policy after being treated for
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an illness. The insurance company believes that T misrepresented his a
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ctual health on the initial insurance application and is, therefore, dispu
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ting the claim's validity. The provision that limits the time period durin
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g which the company may dispute a claim's validity is called - ✔✔✔
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CorrectmAnswerm Time Limit on Certain Defenses
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Which of the following is NOT included in the policy face?
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Answerm Exclusions
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A group-
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owned insurance company that is formed to assume and spread the lia
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Answermmricksmofmitsmmembersmismknownmasma:m-m✔✔✔mCorrect
bility
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Risk retention group
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,What type of reinsurance contract involves two companies automatical
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ly sharing their risk exposure?
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Which of these is considered a statement that is assured to be true in e
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very aspect? m m m - ✔✔✔mCorrectmAnswerm>mWarranty




Which of these require an offer, acceptance, and consideration?
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CorrectmAnswerm contract
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If a contract of adhesion contains complicated language, to whom wou
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ld the interpretation be in favor of? - ✔✔✔ Correct Answer > insured
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What does Medicare Parts A and B cover? -
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✔✔✔mCorrectmAnswerm>mPartmAmcoversmhospitalization; mPartmBmcoversmdoctor'
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s services
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A medical care provider which typically delivers health services at its o
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wn local medical facility is known as a -
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✔✔✔mCorrectmAnswerm>mHealthmmaintenancemorganizationm(HMOs)
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,Which of the following statements is true about most Blue Cross/Blue S
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hield organizations?
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✔✔✔mCorrectmAnswerm>mThey maremnonprofitmorganizations
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The clause in an Accident and Health policy which defines the benefi
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t amounts the insurer will pay is called the -
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✔✔✔mCorrectmAnswerm>mInsuringmclause
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The stated amount or percent of liquid assets that an insurer must hav
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e on hand that will satisfy future obligations to its policyholders is calle
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d:
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An insurance applicant MUST be informed of an investigation regarding
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m his/her reputation and character according to the:
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✔✔✔mCorrectmAnswerm>mFairmCreditmReportingmAct
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A nonprofit incorporated society that does not have capital stock an
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d operates for the sole benefit of its members is known as:
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m✔✔✔mCorrect
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A fraternal benefit society
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, What I the name of the law that requires insurers to disclose informati
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on gathering practices and where the information was obtained?
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✔✔✔mCorrectmAnswerm>mFairmCreditmReportingmAct
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Who elects the governing body of a mutual insurance company?
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CorrectmAnswerm Policyholders
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What year was the McCarran-Ferguson Act enacted? - ✔✔✔ Correct Answer
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>m1945




Which of these describe a participating life insurance policy?
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CorrectmAnswerm Policy owners are entitled to receive dividends
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At what point must a life insurance applicant be informed of their rights t
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hat fall under the Fair Credit Reporting Act? -
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✔✔✔mCorrectmAnswerm>mUponmcompletionmofmthemapplication
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