Florida Health Insurance Exam 3
1. Health insurance benefits NOT covered due to an act of war are:
Answer: excludedby the insurer in the contract provisions
2. 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 changethe premium rate for the
overall risk class?
Answer: Guaranteed Renewable
3. Which of the following statements about a Guaranteed Renewable Health Insurance policy
is CORRECT?
Answer: Premiums normally increase at time of renewal
4. Which mode of payment is NOT used by health insurance policies?
Answer: Singlepremium
5. Who owns a stock company?
Answer: its stockholders
6. According to Florida law, when must an agent deliver the Outline of Cover-age to a
Medicare Supplement applicant?
Answer: At the time of application
7. Within how many days after policy delivery can a Medicare Supplementpolicy be returned
for a 100% premium refund?
Answer: 30
8. P is a producer who notices 5 questions on a health application were not answered. What
actions should P take?
Answer: Set up a meeting with the applicant toanswer the remaining questions
9. Group/voluntary long-term care policy premiums are typically deducted from the
employee's income and
Answer: are less costly as compared to individual longterm care coverage
10. The Florida Employee Health Care Access Act was established to make
Answer: -group health insurance available to employers with up to 50 employees
11. What does Medicare Parts A and B cover?
Answer: Part A covers hospitalization;PartB covers doctor's services
12. 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 willQ be responsible for paying on