ACTUAL Exam 250 QUESTIONS AND CORRECT

Wisconsin Accident and Health Insurance ACTUAL Exam 250 QUESTIONS AND CORRECT

ANSWERS -

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Which of the following financial products creates an instant estate, no matter when the date of death?Mutual funds Life insurance Certificate of deposit Deferred annuity - CORRECT ANSWER-Life insurance

Accident and health insurance claim handling is made more convenient to the insured by utilizing Inspection reports Attending physician statements Medical Information Bureau (MIB) statements Assignment of benefits - CORRECT ANSWER-Assignment of benefits

Which of these is NOT a factor that influences group health insurance underwriting?Physical exams of group members Number of individuals in the group Group's claims experience Type of occupation group is involved in - CORRECT ANSWER-Physical exams of group members

Under which circumstance can an insurance company offer group Health insurance?The sponsoring group is composed of totally unrelated members The sponsoring group was formed for illegal purposes The sponsoring group provides an employer employee relationship The sponsoring group was formed to purchase group insurance at reduced rates - CORRECT ANSWER-The sponsoring group provides an employer employee relationship

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Which of the following statements BEST describes a double indemnity provision in travel accident insurance?Benefits are doubled under certain circumstances stated in the policy If the claim is disputed in court and the insurer loses, the face amount will be doubled Benefits cover two people when traveling Accidents and illnesses are covered while the insured is travelling - CORRECT ANSWER-Benefits are doubled under certain circumstances stated in the policy

A certificate of coverage for a group health policy is best described as A contract between the employer and employee A contract between the employer and insurer Proof of coverage for the employee Proof of coverage for the employer - CORRECT ANSWER-Proof of coverage for the employee

Steve has a group disability income policy where the premiums are paid by his employer. He elected to pay for additional residual disability coverage. Which of the following statements is true?Steve's disability benefits are received tax free The premiums for Steve's disability policy are tax-deductible for Steve Steve can deduct the premium for the amount he paid for the additional residual disability coverage Steve will pay taxes on the disability benefit received from his employer, but will receive any residual disability benefits tax-free - CORRECT ANSWER-Steve will pay taxes on the disability benefit received from his employer, but will receive any residual disability benefits tax-free

Which of the following guidelines does NOT apply under the pregnancy provision of the Civil Rights Act?A pregnant woman is entitled to sick-leave under the same guidelines as any other type of disability Pregnancy must be covered under medical benefits the same as any other illness Post-termination extensions of medical benefits must apply equally to pregnancy Abortion complications are covered if the woman's life is in danger - CORRECT ANSWER-Post- termination extensions of medical benefits must apply equally to pregnancy

How do birthing centers reduce medical costs?Using gatekeepers 2 / 4

Using network providers Using certified nurse midwives Using ambulatory care - CORRECT ANSWER-Using certified nurse midwives

The main role of accident and health and disability insurance is to Protect against on-the-job injuries and illnesses Protect against medical care costs and the loss of earning power Protect against the premature death of the insured Protect against accidents - CORRECT ANSWER-Protect against medical care costs and the loss of earning power

Kate received a group accident and health termination notice. How many days does she have to apply for a converted policy?30 31 60

90 - CORRECT ANSWER-31

Darrell has a group long-term disability income policy paid by his employer. Which of these statements is true?Any benefits received will be tax-free The premiums paid by the employer are not-tax deductible The specified benefit amount is a percentage of his wages Long-term policy benefits are not coordinated with Social Security benefits - CORRECT ANSWER-The specified benefit amount is a percentage of his wages

Which of the following does NOT help determine group health insurance premiums?Average age of group Claims experience of the group Income level of group members The group\s size - CORRECT ANSWER-Income level of group members

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Which of the following incidents would NOT be covered by an Accidental Death and Dismemberment policy?Deafness in one ear as a result of an accident Loss of vision as a result of a hunting incident Suicide Killed from an accident while being a passenger in taxicab - CORRECT ANSWER-Suicide

According to HIPAA regulations, which of the following may reduce a medical plan's pre-existing conditions exclusion?An improvement in health over the previous three months Any period of prior coverage Any period of treatment in the twelve months prior to enrollment Passing a physical examination - CORRECT ANSWER-Any period of prior coverage

Which of the following statements BEST describes employer contributions for employer provided health insurance?Employer is given tax credits for contributions paid Employee can deduct contributions by the employer Employer contributions are deductible Employer contributions are taxable to the employee - CORRECT ANSWER-Employer contributions are deductible

which of the following outlines the authority given to the producer on behalf of the insurer?Rebating arrangement Commingling contract Controlled business clause Producer contract - CORRECT ANSWER-Producer contract

Which of the following is a syndicate established by a group of insurers to share underwriting duties?Reinsurer Lloyd's organization NAIC

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