Chapter Exam 1 Flashcards
In Florida monthly premium health insurance policies must provide a grace period of at least
10 days
What would be an accurate definition of controlled business?
Insurance business that is written on the agents own life, property or interests
In Florida, the underwriting and issuance of a master group health policy requires that all employees
Are eligible to participate regardless of their individual health history
An example of unfair trade practice is
An agent making a material misrepresentation to the insured
S takes out a health insurance policy, which contains a provision that states that the agent does not have the authority to change the policy or wave any of its provisions which health policy provision is this
Entire contract
The coordination of benefits, provision exist in order to
Avoid duplication of benefit payments
An example of unfair discrimination would be
Offering different premiums for individuals of the same risk classification
Any violations of the Florida financial institutions code may be investigated by the
Department of financial services
The waiting period for a pre-existing condition under a Medicare supplement policy may not go beyond
Six months
Upon reaching the limiting age, a disabled child may extend their health insurance coverage as a dependent
Only if the child is incapable of employment and chiefly dependent on the policy owner
Defamation occurs when an agent makes a false statement intended to
Malign, another insurer
Which of the following is not required in the outline of coverage for health insurance policy?
Projection of the policies future costs
Which of the following is not considered rebating?
Sharing commissions with an agent licensed in the same line of business
Which of the following must be included in a Medicare supplement policies outline coverage
The policies, limitations and exceptions
How many days does an insurance company have to reject a reinstatement application before it is automatically reinstated?
45 days
Which of the provisions is not required an HMO contract/certifications
Seven day grace period
Within how many days after a policy, a Medicare supplement policy be returned for 100% premium refund
30
Which of the following types of insured are life insurance companies allowed to make policy rate discrimination against?
People that smoke
A foreign insurance company doing business in Florida
Is a company that was formed under the laws of another state
Z so
