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FLORIDA 240 PRACTICE EXAM 2026
WITH QUESTIONS AND ANSWERS
A medical expense policy that establishes the amount of benefit paid based
upon the prevailing charges which fall within the standard range of fees
normally charged for a specific procedure by a doctor of similar training and
experience in that geographic area is known as - correct answer-Usual,
customary and reasonable
What provision would prevent an insurance company from paying a
reimbursement claim to someone other than the policyowner? - correct
answer-Payment of Claims
All of the following are true about group disability Income insurance
EXCEPT
a) The longer the waiting period, the lower the premium.
b) Coverage applies both on and off the job.
c) Benefits are usually short term.
d) The waiting period starts at the onset of the injury or sickness. - correct
answer-Coverage applies both on and off the job.
Which of the following statements regarding Business Overhead Expense
policies is NOT true?
a) Premiums paid for BOE are tax-deductible.
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b) Any benefits received are taxable to the business.
c) Leased equipment expenses are covered by the plan.
d) Benefits are usually limited to six months, - correct answer-d) Benefits
are usually limited to six months
In long-term care insurance, what type of care is provided with intermediate
care? - correct answer-Occasional nursing or rehabilitative care
After a person's employment is terminated, it is possible to obtain individual
health insurance after losing the group health coverage provided by the
employer. Which of the following is NOT true?
a) The employee can convert from group to individual insurance within 31
days of termination.
b) The premium of the individual health insurance policy can be higher than
the original policy.
c) By law, the new, individual policy must provide the same benefits as the
group insurance policy.
d) Continuation of group coverage need not include dental, vision, or
prescription drug benefits. - correct answer-c) By law, the new, individual
policy must provide the same benefits as the group insurance policy.
An insured has endured multiple surgeries and hospitalizations for an
illness during the last few months. Her insurer no longer bills her for
medical expenses. Which of the following allows for that?
FLORIDA 240 PRACTICE EXAM 2026
WITH QUESTIONS AND ANSWERS
A medical expense policy that establishes the amount of benefit paid based
upon the prevailing charges which fall within the standard range of fees
normally charged for a specific procedure by a doctor of similar training and
experience in that geographic area is known as - correct answer-Usual,
customary and reasonable
What provision would prevent an insurance company from paying a
reimbursement claim to someone other than the policyowner? - correct
answer-Payment of Claims
All of the following are true about group disability Income insurance
EXCEPT
a) The longer the waiting period, the lower the premium.
b) Coverage applies both on and off the job.
c) Benefits are usually short term.
d) The waiting period starts at the onset of the injury or sickness. - correct
answer-Coverage applies both on and off the job.
Which of the following statements regarding Business Overhead Expense
policies is NOT true?
a) Premiums paid for BOE are tax-deductible.
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b) Any benefits received are taxable to the business.
c) Leased equipment expenses are covered by the plan.
d) Benefits are usually limited to six months, - correct answer-d) Benefits
are usually limited to six months
In long-term care insurance, what type of care is provided with intermediate
care? - correct answer-Occasional nursing or rehabilitative care
After a person's employment is terminated, it is possible to obtain individual
health insurance after losing the group health coverage provided by the
employer. Which of the following is NOT true?
a) The employee can convert from group to individual insurance within 31
days of termination.
b) The premium of the individual health insurance policy can be higher than
the original policy.
c) By law, the new, individual policy must provide the same benefits as the
group insurance policy.
d) Continuation of group coverage need not include dental, vision, or
prescription drug benefits. - correct answer-c) By law, the new, individual
policy must provide the same benefits as the group insurance policy.
An insured has endured multiple surgeries and hospitalizations for an
illness during the last few months. Her insurer no longer bills her for
medical expenses. Which of the following allows for that?
