1|Page
FLORIDA 240 LICENSE EXAM AND PRACTICE EXAM
NEWEST 2025/ 2026 ACTUAL EXAM COMPLETE 300
QUESTIONS AND CORRECT DETAILED ANSWERS
(VERIFIED ANSWERS) |ALREADY GRADED A+||
LATEST EXAM!!!
A Hospital/Surgical Expense policy was purchased for a
family of four in March of 2013. The policy was issued with
a $500 deductible and a limit of four deductibles per
calendar year. Two claims were paid in September 2013,
each incurring medical expenses in excess of the
deductible. Two additional claims were filed in 2014, each
in excess of the deductible amount as well. What would be
this family's out-of-pocket medical expenses for 2013? -
ANSWER-$1,000
Which of the following statements BEST describes the
intent of a Coinsurance clause in a Major Medical policy? -
ANSWER-Discourages overutilization of the insurance
coverage
Which of the following statements BEST describes dental
care indemnity coverage? - ANSWER-Services are
reimbursed after insurer receives the invoice
C was injured while deep sea diving and requires a
hospital stay. C has a Major Medical policy with a 80/20
,2|Page
coinsurance clause and a $400 deductible. What is the
MAXIMUM C will pay if the covered medical expenses are
$2000? - ANSWER-$720
Which of the following policy features allows an insured to
defer current health charges to the following year's
deductible instead of he current year's deductible? -
ANSWER-Carryover provision
M is insured under a basic Hospital/Surgical Expense
policy. A physician performs surgery on M. What
determines the claim M is eligible for? - ANSWER-
Determined by the terms of the policy
N has a Major Medical policy that only pays a portion of
N's medical expenses. N is responsible for paying the
remaining balance. This provision is known as - ANSWER-
coinsurance
With a Basic Medical Expense policy, what does the
hospitalization expense cover? - ANSWER-hospital room
and board
,3|Page
Which of the following individual health insurance policies
will provide the broadest protection? - ANSWER-major
medical
For which of the following expenses does a Basic Hospital
policy pay? - ANSWER-hospital room and board
In order to establish a Health Reimbursement
Arrangement (HRA), it MUST - ANSWER-be established
by the employer
Which of the following health insurance coverages is
BEST suited for meeting the expenses of catastrophic
illness? - ANSWER-major medical
Which of these is NOT a characteristic of a Health
Reimbursement Arrangement (HRA)? - ANSWER-
Employee funds the HRA entirely
All of the following are limited benefit plans, EXCEPT: -
ANSWER-Life insurance policies
The phrase "This policy will only pay for a semi-private
room" is an example of a(n): - ANSWER-Internal limit
, 4|Page
M has a Major Medical insurance policy with a $200 flat
deductible and an 80% Coinsurance clause. If M incurs a
$2,200 claim for an eligible medical expense, how much
will M receive in payment for this claim? - ANSWER-
$1,600
Q is hospitalized for 3 days and receives a bill for $10,100.
Q has a Major Medical policy with a $100 deductible and
80/20 coinsurance. How much will Q be responsible for
paying on this claim? - ANSWER-$2,100
Which of the following types of health coverage frequently
uses a deductible? - ANSWER-Major Medical policy
Which of the following statements about Health
Reimbursement Areangements (HRA) is CORRECT? -
ANSWER-If the employee paid for qualified medical
expenses, the reimbursements may be tax-free
A Health Reimbursement Arrangement MUST be
established: - ANSWER-by the employer
FLORIDA 240 LICENSE EXAM AND PRACTICE EXAM
NEWEST 2025/ 2026 ACTUAL EXAM COMPLETE 300
QUESTIONS AND CORRECT DETAILED ANSWERS
(VERIFIED ANSWERS) |ALREADY GRADED A+||
LATEST EXAM!!!
A Hospital/Surgical Expense policy was purchased for a
family of four in March of 2013. The policy was issued with
a $500 deductible and a limit of four deductibles per
calendar year. Two claims were paid in September 2013,
each incurring medical expenses in excess of the
deductible. Two additional claims were filed in 2014, each
in excess of the deductible amount as well. What would be
this family's out-of-pocket medical expenses for 2013? -
ANSWER-$1,000
Which of the following statements BEST describes the
intent of a Coinsurance clause in a Major Medical policy? -
ANSWER-Discourages overutilization of the insurance
coverage
Which of the following statements BEST describes dental
care indemnity coverage? - ANSWER-Services are
reimbursed after insurer receives the invoice
C was injured while deep sea diving and requires a
hospital stay. C has a Major Medical policy with a 80/20
,2|Page
coinsurance clause and a $400 deductible. What is the
MAXIMUM C will pay if the covered medical expenses are
$2000? - ANSWER-$720
Which of the following policy features allows an insured to
defer current health charges to the following year's
deductible instead of he current year's deductible? -
ANSWER-Carryover provision
M is insured under a basic Hospital/Surgical Expense
policy. A physician performs surgery on M. What
determines the claim M is eligible for? - ANSWER-
Determined by the terms of the policy
N has a Major Medical policy that only pays a portion of
N's medical expenses. N is responsible for paying the
remaining balance. This provision is known as - ANSWER-
coinsurance
With a Basic Medical Expense policy, what does the
hospitalization expense cover? - ANSWER-hospital room
and board
,3|Page
Which of the following individual health insurance policies
will provide the broadest protection? - ANSWER-major
medical
For which of the following expenses does a Basic Hospital
policy pay? - ANSWER-hospital room and board
In order to establish a Health Reimbursement
Arrangement (HRA), it MUST - ANSWER-be established
by the employer
Which of the following health insurance coverages is
BEST suited for meeting the expenses of catastrophic
illness? - ANSWER-major medical
Which of these is NOT a characteristic of a Health
Reimbursement Arrangement (HRA)? - ANSWER-
Employee funds the HRA entirely
All of the following are limited benefit plans, EXCEPT: -
ANSWER-Life insurance policies
The phrase "This policy will only pay for a semi-private
room" is an example of a(n): - ANSWER-Internal limit
, 4|Page
M has a Major Medical insurance policy with a $200 flat
deductible and an 80% Coinsurance clause. If M incurs a
$2,200 claim for an eligible medical expense, how much
will M receive in payment for this claim? - ANSWER-
$1,600
Q is hospitalized for 3 days and receives a bill for $10,100.
Q has a Major Medical policy with a $100 deductible and
80/20 coinsurance. How much will Q be responsible for
paying on this claim? - ANSWER-$2,100
Which of the following types of health coverage frequently
uses a deductible? - ANSWER-Major Medical policy
Which of the following statements about Health
Reimbursement Areangements (HRA) is CORRECT? -
ANSWER-If the employee paid for qualified medical
expenses, the reimbursements may be tax-free
A Health Reimbursement Arrangement MUST be
established: - ANSWER-by the employer
