Florida Insurance Claims Adjuster License Practice Exam

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Prepare for the Florida Insurance Claims Adjuster License Exam with this informative quiz. Engage with multiple-choice questions and explanations to boost your understanding and confidence for the official exam.

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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:

  1. A. Conditionally renewable

  2. B. Noncancelable

  3. C. Optionally renewable

  4. D. Guaranteed renewable

The correct answer is: C. Optionally renewable

This is an example of an optionally renewable policy because it allows the insurer to choose whether or not to renew the policy at the end of the coverage period. It is not considered conditionally renewable because there are no specific conditions outlined for renewal, and it is not noncancelable because the insurer still has the option to not renew the policy. It is also not guaranteed renewable because it does not guarantee automatic renewal for the insured.

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