HEALTH INSURANCE FLORIDA PRACTICE
FINAL STUDY GUIDE 2026 COMPLETE
ANSWERS GRADED A+
⩥ Pure risk. Answer: Only chance of loss (insurable).
⩥ Speculative risk. Answer: Chance of loss or gain (not insurable).
⩥ Physical hazard. Answer: Tangible hazards such as slippery floors or
illness.
⩥ Moral hazard. Answer: Dishonesty or fraud.
⩥ Morale hazard. Answer: Carelessness, exemplified by the attitude 'I'm
insured, who cares'.
⩥ Peril. Answer: The cause of loss, e.g., accident or sickness in health
insurance.
⩥ Loss. Answer: The reduction in value or capability due to a covered
peril.
, ⩥ Indemnity. Answer: Health insurance principle that restores you to the
same financial condition as before the loss.
⩥ Law of Large Numbers. Answer: Insurers predict losses more
accurately with large groups of similar risks.
⩥ Individual health insurance. Answer: Sold directly to one person or
family with full underwriting.
⩥ Group health insurance. Answer: Sold to an employer or organization
without individual underwriting, cheaper due to risk spread.
⩥ Franchise Insurance. Answer: Used for small groups too small for true
group coverage, with individual underwriting but group-style rates.
⩥ Private insurance. Answer: Commercial insurance from stock and
mutual companies like Aetna and Cigna.
⩥ Government insurance. Answer: Social insurance programs like
Medicare, Medicaid, TRICARE, Social Security, and Workers'
Compensation.
⩥ Limited Policies. Answer: Cover one specific risk, such as cancer
plans or dental insurance.
FINAL STUDY GUIDE 2026 COMPLETE
ANSWERS GRADED A+
⩥ Pure risk. Answer: Only chance of loss (insurable).
⩥ Speculative risk. Answer: Chance of loss or gain (not insurable).
⩥ Physical hazard. Answer: Tangible hazards such as slippery floors or
illness.
⩥ Moral hazard. Answer: Dishonesty or fraud.
⩥ Morale hazard. Answer: Carelessness, exemplified by the attitude 'I'm
insured, who cares'.
⩥ Peril. Answer: The cause of loss, e.g., accident or sickness in health
insurance.
⩥ Loss. Answer: The reduction in value or capability due to a covered
peril.
, ⩥ Indemnity. Answer: Health insurance principle that restores you to the
same financial condition as before the loss.
⩥ Law of Large Numbers. Answer: Insurers predict losses more
accurately with large groups of similar risks.
⩥ Individual health insurance. Answer: Sold directly to one person or
family with full underwriting.
⩥ Group health insurance. Answer: Sold to an employer or organization
without individual underwriting, cheaper due to risk spread.
⩥ Franchise Insurance. Answer: Used for small groups too small for true
group coverage, with individual underwriting but group-style rates.
⩥ Private insurance. Answer: Commercial insurance from stock and
mutual companies like Aetna and Cigna.
⩥ Government insurance. Answer: Social insurance programs like
Medicare, Medicaid, TRICARE, Social Security, and Workers'
Compensation.
⩥ Limited Policies. Answer: Cover one specific risk, such as cancer
plans or dental insurance.
