4/7/26, 12:06 PM Kentucky Health Insurance Exam Questions & Answers | 100% Verified solutions (2026) UPDATE |2026!! STUDY GUIDE EXAM Fl…
Kentucky Health Insurance Exam Questions &
Answers | 100% Verified solutions (2026) UPDATE
|2026!! STUDY GUIDE EXAM
Save
Terms in this set (119)
What is Risk? Risk is the uncertainty or chance of loss occurring
What is a Peril? Perils are the causes of loss insured against in an
insurance policy
What are the elements of risk? Loss must be (1) due to chance; (2) definite and
measurable; (3) statistical predictable; (4) not
catastrophic; (5) with large loss exposure; and (6)
insurance cannot be mandatory.
What is the difference between a Medical expense policies cover the hospital and
disability income and medical medical expenses of covered injures or illnesses,
expense policy? whereas disability income policies actually pay
income to a person who must miss work as the
result of an injury or illness.
Define accidental bodily injury Accidental bodily injury is a unforeseen and
unintended injury that resulted from an accident
rather than a sickness
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, 4/7/26, 12:06 PM Kentucky Health Insurance Exam Questions & Answers | 100% Verified solutions (2026) UPDATE |2026!! STUDY GUIDE EXAM Fl…
In what ways can accidental death AD&D coverage can be written as a rider or a
and dismemberment coverage be separate policy.
written?
Under accidental death and The principal sum is paid for accidental death. In
dismemberment coverage, when the case of loss of sight or accidental
would the capital amount be paid? dismemberment, a percentage of that principal
When would the principal amount be sum will be paid by the policy, often referred to as
paid? the capital sum.
Explain the concept of coverage on First-dollar coverage does not require the insured
first-dollar basis to pay a deductible
What is the difference between In reimbursement plans, the expenses are
reimbursement and scheduled reimbursed directly to the insured for the services
benefit payment? provided. In scheduled benefits plans, the insurer
pays up to a certain amount. for the services, as
determined on a schedule for the cost of each
treatment.
What are some common exclusions War and active duty military, intentionally self-
and limitations in medical expense inflicted injuries, pre-existing conditions, elective
policies? cosmetic surgery, injuries as a result of participating
in criminal activities, and conditions covered by
workers compensation or government plans.
What coverages are provided by a After basic policy pays, the supplemental major
Major Medical Expense policy? medical will provide coverage for expenses that
were not covered by the basic policy, and
expenses that exceed the maximum. If the time
limitation is used up by the basic policy, the
supplemental coverage will provide coverage
thereafter.
https://quizlet.com/1164839464/kentucky-health-insurance-exam-questions-answers-100-verified-solutions-2026-update-2026-study-guide-exam-flas… 2/15
Kentucky Health Insurance Exam Questions &
Answers | 100% Verified solutions (2026) UPDATE
|2026!! STUDY GUIDE EXAM
Save
Terms in this set (119)
What is Risk? Risk is the uncertainty or chance of loss occurring
What is a Peril? Perils are the causes of loss insured against in an
insurance policy
What are the elements of risk? Loss must be (1) due to chance; (2) definite and
measurable; (3) statistical predictable; (4) not
catastrophic; (5) with large loss exposure; and (6)
insurance cannot be mandatory.
What is the difference between a Medical expense policies cover the hospital and
disability income and medical medical expenses of covered injures or illnesses,
expense policy? whereas disability income policies actually pay
income to a person who must miss work as the
result of an injury or illness.
Define accidental bodily injury Accidental bodily injury is a unforeseen and
unintended injury that resulted from an accident
rather than a sickness
https://quizlet.com/1164839464/kentucky-health-insurance-exam-questions-answers-100-verified-solutions-2026-update-2026-study-guide-exam-flas… 1/15
, 4/7/26, 12:06 PM Kentucky Health Insurance Exam Questions & Answers | 100% Verified solutions (2026) UPDATE |2026!! STUDY GUIDE EXAM Fl…
In what ways can accidental death AD&D coverage can be written as a rider or a
and dismemberment coverage be separate policy.
written?
Under accidental death and The principal sum is paid for accidental death. In
dismemberment coverage, when the case of loss of sight or accidental
would the capital amount be paid? dismemberment, a percentage of that principal
When would the principal amount be sum will be paid by the policy, often referred to as
paid? the capital sum.
Explain the concept of coverage on First-dollar coverage does not require the insured
first-dollar basis to pay a deductible
What is the difference between In reimbursement plans, the expenses are
reimbursement and scheduled reimbursed directly to the insured for the services
benefit payment? provided. In scheduled benefits plans, the insurer
pays up to a certain amount. for the services, as
determined on a schedule for the cost of each
treatment.
What are some common exclusions War and active duty military, intentionally self-
and limitations in medical expense inflicted injuries, pre-existing conditions, elective
policies? cosmetic surgery, injuries as a result of participating
in criminal activities, and conditions covered by
workers compensation or government plans.
What coverages are provided by a After basic policy pays, the supplemental major
Major Medical Expense policy? medical will provide coverage for expenses that
were not covered by the basic policy, and
expenses that exceed the maximum. If the time
limitation is used up by the basic policy, the
supplemental coverage will provide coverage
thereafter.
https://quizlet.com/1164839464/kentucky-health-insurance-exam-questions-answers-100-verified-solutions-2026-update-2026-study-guide-exam-flas… 2/15
