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ACCIDENT AND HEALTH INSURANCE EXAM QUESTIONS
Actual Qs and Ans - Expert-Verified Explanation -Guaranteed passing score -97 Questions and Answers
-Format: Multiple-choice / Flashcard
Question 1: Under the Claim Forms provision in an Accident and Health policy, an insurance company must supply an insured with claim forms within a MAXIMUM of how many days after receiving notice of the loss?
A: 10
B: 15
C: 20
D: 30
Answer:
B: 15
Question 2: What is a contract's grace period if a premium is paid on a quarterly basis?
A: 7 days
B: 10 days
C: 31 days
D: 90 days
Answer:
C: 31 days
Question 3: C has a LTC policy that cannot be terminated and has guaranteed premiums. C has which of the following rights of renewability?
A: Noncancelable
B: Guaranteed Renewable
C: Cancelable
D: Period of Time
Answer:
A: Noncancelable
Question 4: Which of the following may be considered an eligible expense found in a health policy?
A: Cosmetic Surgery
B: Premium payment
C: cold cream
D: Bus fare to receive treatment for a covered loss
Answer:
D: Bus fare to receive treatment for a covered loss
Question 5: Which of the following rights of renewability stipulate that the insured has the sole right to end coverage?
A: Period of Time
B: Noncancelable
C: Cancelable
D: Conditionally Renewable
Answer:
B: Noncancelable
Question 6: What is the largest dollar civil penalty that will be assessed for a single act of misrepresentation?
A: $1,000
B: $2,500
C: $5,000
D: $10,000
Answer:
D: $10,000
Question 7: Which of the following losses are excluded under minimum standard law?
A: hospitalization
B: accidental injuries
C: eye care
D: None of the Above
Answer:
C: eye care
Question 8: If an agent has completed the initial continuing education for long term care, next renewal they must complete ongoing education that is ____ of continuing education.
A: 4 hours
B: 8 hours
C: 12 hours
D: 24 hours
Answer:
A: 4 hours
Question 9: A CORRECT statement about benefits payable under a Disability Buy-Out policy
that is owned by a business entity is that they are:
A: related directly to salary
B: paid in installments
C: paid to the corporation
D: paid directly to the employee
Answer:
C: paid to the corporation
Question 10: Y is injured while robbing a bank and his claim is denied. Which of the following provisions would deny Y's claim?
A: Change of Occupation
B: Illegal Occupation
C: Felony Exclusion
D: Illegal Action
Answer:
B: Illegal Occupation
Question 11: V has an HMO who has been financial impaired, the most the HMO Guarantee
Association will pay for V's claims is:
A: $100,000
B: $250,000
C: $300,000
D: $500,000
Answer:
D: $500,000
Question 12: All of the following statements are true about a specified disease plan EXCEPT:
A: Cancer may be covered up to a fixed dollar benefit amount.
B: A specified disease plan is a good substitute for a major medical policy because it is cheaper premiums.
C: A specified disease plan will only cover one specific loss.
D: No policy will cover a specified disease if diagnosed occurred before the policy was applied for.
Answer:
B: A specified disease plan is a good substitute for a major medical policy because it is cheaper premiums.Question 13: When an agent sells an Accident and Health policy, he/she should do which of the following with the application?
A: Complete it and have the applicant review and sign it
B: The agent should initial any and all changes he/she may make later
C: Have the applicant sign and then carefully put in the required information in as thoroughly and accurately a manner as possible D: Advise the applicant to provide information in such a manner to make certain the policy will be issued without restrictions
Answer:
A: Complete it and have the applicant review and sign it
Question 14: A LTC policy that will only pay for ADL given occasionally by a licensed
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