Page | 1
FLORIDA HEALTH 240 INSURANCE
BRAND NEW ACTUAL EXAM WITH
ANSWERS.
1. Hospital confinement - correct answer -Elimination period
waived when insured is hospitalized as an inpatient. Pays total
disability while in hospital.
2. Impairment rider - correct answer -When a condition is
excluded from coverage protecting insurance company from
undue risk and providing health care needs for applicant.
3. Nondisabiling Injury rider - correct answer -Pays for medical
expense not disability
4. AD&D - correct answer -Covers life insurance and health
insurance benefit.
, Page | 2
5. Annual Renewable Term - correct answer -Level term
insurance which has a level face amount and increasing
premiums.
6. Return of Premium Rider - correct answer -Allows for a portion
of the premium to be returned if the policy owner is not
disabled
7. Future increase option - correct answer -Provides for the
insured to be able to purchase additional amounts of disability
income periodically without proving insurability.
8. Waiver of Premium - correct answer -- exempts the owner from
paying premiums while they're disabled.
9. BOE policy - correct answer -
10. Lifetime Benefits OptionS - correct answer -
, Page | 3
11. Usual Customary and Reasonable - correct answer -amount
customarily charged for services and supplies
12. Corridor Deductible - correct answer -the deductible between
a basic and major medical policy
13. Per-cause deductible - correct answer -Injury or sickness
deductible
14. All cause deductible - correct answer -Cumulative or
calendar year deductible.
15. Carryover Provision - correct answer -Permits expenses
from the last three months of the calendar year to be carried
over into the new year.
16. Common injury or illness provision - correct answer -One
deductible per family for the same illness or accident.
, Page | 4
17. Medical Expense Policies - correct answer -- Basic
- Major Medical
- Comprehensive major medical
18. Consolidated Omnibus Budget Reconciliation Act (COBRA) -
correct answer -Requires employers of 20 or more to offer
continuation of benefits to their families.
19. Omnibus Budget Reconciliation Act (OBRA) - correct answer
-Extends COBRA for disabled employees 18 to 29 months.
Spouse and dependents for up to 36 months.
20. Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA) -
correct answer -Prevents employers discriminating and
Medicare second pay or..
21. Employee Retirement Income Security Act (ERISA) - correct
answer -Stringent reporting and disclosure requirement for
establishing and maintaining gmo. Group and employee policy.
FLORIDA HEALTH 240 INSURANCE
BRAND NEW ACTUAL EXAM WITH
ANSWERS.
1. Hospital confinement - correct answer -Elimination period
waived when insured is hospitalized as an inpatient. Pays total
disability while in hospital.
2. Impairment rider - correct answer -When a condition is
excluded from coverage protecting insurance company from
undue risk and providing health care needs for applicant.
3. Nondisabiling Injury rider - correct answer -Pays for medical
expense not disability
4. AD&D - correct answer -Covers life insurance and health
insurance benefit.
, Page | 2
5. Annual Renewable Term - correct answer -Level term
insurance which has a level face amount and increasing
premiums.
6. Return of Premium Rider - correct answer -Allows for a portion
of the premium to be returned if the policy owner is not
disabled
7. Future increase option - correct answer -Provides for the
insured to be able to purchase additional amounts of disability
income periodically without proving insurability.
8. Waiver of Premium - correct answer -- exempts the owner from
paying premiums while they're disabled.
9. BOE policy - correct answer -
10. Lifetime Benefits OptionS - correct answer -
, Page | 3
11. Usual Customary and Reasonable - correct answer -amount
customarily charged for services and supplies
12. Corridor Deductible - correct answer -the deductible between
a basic and major medical policy
13. Per-cause deductible - correct answer -Injury or sickness
deductible
14. All cause deductible - correct answer -Cumulative or
calendar year deductible.
15. Carryover Provision - correct answer -Permits expenses
from the last three months of the calendar year to be carried
over into the new year.
16. Common injury or illness provision - correct answer -One
deductible per family for the same illness or accident.
, Page | 4
17. Medical Expense Policies - correct answer -- Basic
- Major Medical
- Comprehensive major medical
18. Consolidated Omnibus Budget Reconciliation Act (COBRA) -
correct answer -Requires employers of 20 or more to offer
continuation of benefits to their families.
19. Omnibus Budget Reconciliation Act (OBRA) - correct answer
-Extends COBRA for disabled employees 18 to 29 months.
Spouse and dependents for up to 36 months.
20. Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA) -
correct answer -Prevents employers discriminating and
Medicare second pay or..
21. Employee Retirement Income Security Act (ERISA) - correct
answer -Stringent reporting and disclosure requirement for
establishing and maintaining gmo. Group and employee policy.
