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CLAIMS ADJUSTER (Business Insurance) FLORIDA EXAM TEST LATEST UPDATED AND A+ VERIFIED.
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CLAIMS ADJUSTER (Business Insurance) FLORIDA EXAM TEST LATEST UPDATED AND A+ VERIFIED.
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CLAIMS ADJUSTER (Business Insurance)FLORIDA EXAM TEST LATEST UPDATED AND
A+ VERIFIED.
When a person has lost stock certificates, bonds or similar instruments, a
bond is generally required by the issuing company to reissue the
document. This is known as a:
A. Public Official Bond
B. Lost Instrument Bond
C. Public Instrument Bond
D. None of the Above
Verified Answer -B. Lost Instrument Bond
Also guarantees to save issuer from any loss growing out of lost
instrument
A __________ is a selected group of hospitals and medical practitioners in
a given area who have joined together in an effort to reduce medical
costs.
A. HMO
B. Major Medical Insurance
C. Coinsurance
D. PPO
Verified Answer -D. PPO
Most plans provide that emergency treatment will be paid even if treated
party does not go to service provider on approved list.
Define the coverage that pays a flat amount per day for hospitalization,
regardless of expenses or other insurance:
,A. Hospitilization
B. Hospital Indemnity
C. Hospital Services
D. All of the Above
Verified Answer -B. Hospital Indemnity
This optional provision states that if the insured becomes totally disabled,
premiums are waived but the coverage remains in force:
A. Waiver of Subrogation
B. Waiver of Premium
C. Waiver of Value
D. None of the Above
Verified Answer -B. Waiver of Premium
"premiums are waived"
Provides coverage for expenses, including loss of income, arising from an
accident. This is defined as?
A. Accident Insurance
B. Hospitilization
C. Hospital Pay
D. None of the Above
Verified Answer -A. Accident Insurance
Typical exclusions would be: hernia, war, disease and bacterial infections,
suicide attempts, air travel injuries, accidents while committing felony,
accidents while under the influence
,This type of provision states the insurer can refuse to renew the policy
only under certain conditions. The policy must state the conditions under
which the policy will not be renewed. This is defined as?
A. Conditionally Renewable
B. Guaranteed Renewable
C. Optionally Renewable
D. None of the Above
Verified Answer -A. Conditionally Renewable
vs. Optionally: company may not cancel during term but reserves right to
non-renew upon expiration
vs. Guaranteed: insurer required to renew policy at stated age (typically
65); company reserves right to increase premium
The coverage that is intended to afford protection against catastrophic
losses is defined as?
A. Major Medical
B. HMO
C. PPO
D. None of the Above
Verified Answer -A. Major Medical
Some forms designed to supplement basic policies; others provide both
basic and catastrophic coverage
A policy may contain a provision which states a period of time between
issuance and acceptance before sickness benefits begin. This is defined as:
A. Waiting Period
B. Elimination Period
C. Both A & B
, D. None of the Above
Verified Answer -C. Both A & B
This helps keep premiums reasonable by eliminating chance of persons
buying coverage only when they are sick
Characteristics of an HMO plan usually include:
A. Small of non-existent Deductibles
B. Fewer Exclusions
C. Insurance services to members through employed physicians
D. All of the Above
Verified Answer -D. All of the Above
Also included: broad coverage, coinsurance provisions
Provides indemnification to the insured for basic hospitalization of room
and board in the hospital, nursing care, laboratory fees, operating room,
medical supplies, etc. This is defined as?
A. Hospitalization Expense
B. Hospital Indemnity
C. Accident Policy
D. All of the Above
Verified Answer -A. Hospitalization Expense
Associated with a daily limit, not to exceed specified maximum
A(n) __________ provides comprehensive health services to its members
for a prepaid fixed fee, equivalent to an insurance premium.
A. HMO
B. PPO
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