Unit 9 Quiz
Joe pays his health insurance premium on a monthly basis. If he forgets to pay this month's premium, how long will the policy remain in force after the premium date?
10 days
Under Medicare Supplement insurance, the maximum waiting period before coverage applies to pre-existing conditions is:
6 months
A selected group of hospitals and doctors in a given area who have joined together to reduce medical costs is:
A PPO
Joe wrote a policy through the Florida Automobile joint Underwriting Association, and the company issued the policy. What is the company issuing the policy called?
A servicing carrier
Which is the largest limit for commercial vehicles in the residual market?
Any higher limits required by any law
A homeowner could not find coverage on the open market and looked to the residual market for coverage. What joint Underwriting Association would handle this risk?
Citizens
Bob has a basic health insurance policy. He has a covered accident in which he suffers an injury to his mouth that requires dental treatment. Which of the following is true?
Dental expenses will be paid
Which best describes health insurance?
Disability insurance
The Residual Market that is a source for persons who are unable to purchase auto insurance through normal channels is:
FAJUA
How is funding determined for Tier Three employers?
It is based on an assessment of Tier Three participants
All of the following are true concerning Joint Underwriting Association EXCEPT
It is not possible to purchase Homeowner policies under JUA, only Dwelling policies
Which of the following is not a requirement to qualify for the FWCJUA?
Must have been unable to obtain coverage from at least three other carriers
If a health insurance policy cannot be cancelled and can be renewed at the option of the insured to a stated age with no premium increases, this policy is:
Noncancelable
Which of the following describes a Guaranteed Renewable policy?
The insurer is required to renew to a stated age, but may increase premiums
An organization that provides comprehensive health services to its members for a prepaid fixed fee, equivalent to an insurance premium is:
an HMO
Health insurance protects against all of the following EXCEPT:
injury of the job
Jane has a health insurance policy that prevents cancellation during the policy period. but reserves the right of the insurer to non-renew the policy once it expires. This is an example of:
optionally renewable