Health Insurance Florida 2-40
Practice Exam Questions and answers
2023 with complete solutions.
1. Which of the following is NOT a form of medical
... [Show More] insurance?
-Business overhead expense
-Surgical expense
-Hospital expense
-Long term care: Business overhead expense (Explanation:Business Overhead
Expense insurance is designed to reimburse a business for overhead expenses
in the event a business owner becomes disabled. Expenses such as rent, utilities,
telephone, equipment, employees' salaries, etc.)
2. All of the following are state or federal government programs that provide
health insurance, EXCEPT?
-Medicare
-OASDI disability
-Medicaid
-Medigap: Medigap (Explanation:A Medigap policy is a Medicare supplement
insurance policy sold by private insurance companies to fill "gaps" in Medicare
Parts A and B.)
3. What type of health insurance is available to assist low-income individuals?: Medicaid
4. What types of reserves are set aside and held by health insurance companies?: Premium and Claims reserves (Explanation:Reserves are set aside for the
payment of future claims.)
5. Group health insurance is generally written on a basis that provides for
dividends or experience rating. What is the basis called?: Participating (Explanation:Group plans written by mutual companies provide for dividends while stock
companies frequently issue experience-rated plans.)
6. Which of the following is NOT TRUE regarding eligibility for subsidies for
families under the new health care act?
-For those who make between 100-400% of the Federal Poverty -Level
-Cannot be covered by an employer
-Cannot be eligible for Medicare
-Can be eligible for Medicaid: Can be eligible for Medicaid
7. Which of the following operates as a corporation, society, or association to
provide life insurance primarily for the mutual benefit of its members, has a
lodge or social system with rituals and representative form of government?
A) Mutual companies
B) Fraternal associations
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Health Insurance Florida 2-40 Practice Exam Questions #2
C) Stock companies
-Fraternal benefit society: B) Fraternal associations
8. What does each member pay in a typical HMO plan?
-Fixed premium based on a deductible and copay
-Fixed premium whether or not plan is used
-Premium based on how often plan is used: Fixed premium whether or not plan
is used
9. Which of the following is correct about those who are eligible for Medicare
and wish to join an HMO?
-They must have a current Medicare supplement policy
-They must be told that'll be getting all the benefits from the Medicare
Advantage plan
-They must be age 70 and above
-They must have been enrolled previously in an HMO: They must be told that'll
be getting all the benefits from the Medicare Advantage plan
10. Joyce is totally disabled. Her HMO policy just terminated. All of the
following are correct regarding "extension of benefits" for Joyce, EXCEPT?
-Coverage ends once maximum benefits have been exhausted
-Coverage ends once another carrier assumes coverage
-Coverage ends if no longer totally disabled
-Coverage ends after 18 months: Coverage ends after 18 months
11. All of the following are correct regarding Florida regulation of HMOs,
EXCEPT?
-Must obtain a Certificate of Authority
-Must file a report of its activities within 3 months of the end of each fiscal
year
-Must deposit $100,000 with the Rehabilitation Administration Expense Fund
-Must be sold by agents licensed and appointed as health insurance agents-
: Must deposit $100,000 with the R [Show Less]