2-40 practice exam Solved Papers - Questions with Complete Solutions
Which of the following may qualify as sliding: - Correct
Answers ✅Adding additional coverage to a policy and indicating that it is included in the original premium.Which of the following reimburses its insureds for covered medical expenses? - Correct Answers ✅Commercial insurers After a week in the hospital, Lola receives a bill for $9,000 of covered expenses. Her major medical policy has a $250 deductible and a 75/25 coinsurance feature. How much of the total expense will Lola's policy cover? - Correct Answers
✅$6,563
Which of the following is known for stressing preventive health care? - Correct Answers ✅Health maintenance organizations Which of the following is an objective of Florida's Long Term Care Partnership Program? - Correct Answers ✅To contain the growth of public expenditures by encouraging consumers to purchase long-term care coverage Which of the following is CORRECT? - Correct Answers ✅Insurance companies have to notify applicants within a few days that a consumer report has been requested. 1 / 3
2-40 practice exam Solved Papers - Questions with Complete Solutions A waiver of premium provision may be included with which kind of health insurance policy? - Correct Answers ✅Disability income On August 1st, Robert completed an application for a major medical policy, gave his agent a check for the initial premium and received an insurability receipt from the agent. On August 3rd, the agent submitted Roger's application and premium to the insurance company. On August 6th, Roger was involved in an accident and admitted to a hospital. On August 12th, the agent received Roger's policy from the insurance company. Which of the following statements concerning this situation is CORRECT? - Correct Answers ✅Roger's coverage began when he received the insurability receipt.All of the following are mandatory provisions in health insurance policies EXCEPT - Correct Answers ✅misstatement of age Which of the following is NOT a typical type of long-term care coverage? - Correct Answers ✅Hospice care Which of the following is CORRECT about the Fair Credit Reporting Act? - Correct Answers ✅It provides insurance companies the ability to view consumers? credit history. 2 / 3
2-40 practice exam Solved Papers - Questions with Complete Solutions As it pertains to group health insurance, COBRA stipulates that - Correct Answers ✅group coverage must be extended for terminated employees up to a certain period of time at the employee's expense What does the Buyer's Guide do? - Correct Answers ✅It helps buyers choose the most suitable plan.Beth's health insurance policy contains a provision that allows her to renew coverage up to age 65. However, the policy also states that should Beth lose her job, the insurance company will cancel the policy, regardless of Beth's age. In terms of renewability, what type of policy does Beth have? - Correct Answers ✅Conditionally renewable Basic hospital expense insurance provides coverage for all of the following EXCEPT - Correct Answers ✅drugs and X-rays Which is the purpose of insurance? - Correct Answers ✅It spreads financial risk over a large group.Which of the following legal terms indicates that an insurance contract contains the enforceable promises of only one party?
- Correct Answers ✅Unilateral
- / 3