Florida 2-15 Insurance Final Review Test

Individual health insurance policies are typically written on which basis? A. participating B. nonparticipating C. experience-rated D. claims-related {Ans: B. Most individual health insurance is issued on a nonparticipating basis}Basic surgical expense policies generally provide coverage for all of the following EXCEPT A. anesthesiologist services B. surgeon services C. postoperative care D. miscellaneous expenses, such as lab fees and x-rays {Ans: D. Miscellaneous expenses are covered under basic hospital expense policies. These "extras" include drugs, x-rays, anesthesia, lab fees, dressings, use of the operating room, and supplies.}Which of the following would NOT apply when a life insurance policy is reinstated after a lapse? A. all back premiums must be paid B. all outstanding loans must be paid C. a new contestable period goes into effect D. a new suicide exclusion period goes into effect {Ans: D. There is no new suicide exclusion period when a policy is reinstated.}All of the following statements regarding assignment of a life insurance policy are correct EXCEPT A. to secure a loan, the policy can be transferred temporarily to the lender as security for the loan B. the policyowner must obtain approval from the insurance company before a policy can be assigned