Health Insurance Florida 2-40 Practice Exam Questions #2 With Answers (Latest Update 2023)

To reduce a substandard disability risk, an insurer may take all of the following actions, EXCEPT? A) Charge additional premium B) Increase the period of elimination C) Reduce the amount of benefit D) Remove all of the exclusion riders {Ans: Remove all of the exclusion riders (The underwriter might utilize a Full Exclusion Rider when a condition appears certain to result in recurrent disabilities.)}Which of the following is a TRUE statement regarding premiums and benefits for business overhead insurance? -Both premiums and benefits are tax-deductible -Both premiums and benefits are taxable -Premiums-tax-deductible, Benefits-taxable -Premiums-taxable, Benefits-tax-deductible {Ans: Premiums-tax-deductible, Benefits-taxable}What is the correct sequence of time for the grace period on an individual medical expense policy for each mode of premium? A) 7 days weekly, 10 days monthly, 30 all others B) 7 days weekly, 10 days monthly, 31 all others C) 10 days weekly, 15 days monthly, 31 all others D) 30 for individual contracts, 31 for group {Ans: 7 days weekly, 10 days monthly, 31 all others}Beth has a contract stating she must be disabled for 3 months before benefits will be paid. This is considered the? A) Probationary Period B) Elimination Period C) Grace Period D)