COMPREHENSIVE FINAL CERTIFICATION EXAM: ILLINOIS

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COMPREHENSIVE FINAL CERTIFICATION EXAM: ILLINOIS

HEALTH INSURANCE (XCEL SOLUTIONS)

Actual Qs and Ans - Expert-Verified Explanation -Guaranteed passing score -100 Questions and Answers

-Format: Multiple-choice / Flashcard

Question 1: Q the producer gave his client a rebate as an enticement to purchase insurance. Q may be found guilty of a

Answer:

class B misdemeanor Question 2: If an individual has an accidental death and dismemberment policy and dies, an

autopsy can be performed in all these situations, EXCEPT:

Answer:

when the state prohibits by law Question 3: A(n) _____lines producer may sell Travel Accident insurance in Illinois

Answer:

limited Question 4: The clause identifying which losses resulting from an accident or sickness are

insured by the policy is called the:

Answer:

insuring clause

Question 5: This MANDATORY health policy provision states that the policy, including endorsements and attached papers, constitutes

Answer:

the entire insurance contract between the parties Question 6: A medicare supplement policyholder has __ days to return the policy and recieve a full premium refund

Answer:

30 Question 7: Which of the following pertains to the analysis of an applicant's personal information and determining whether insurance should be issued or declined?

Answer:

underwriting Question 8: Which of the following actions may an insurance company NOT do in a health policy that contains a guaranteed renewable premium benefit?

Answer:

increase the premiums on an individual basis Question 9: It is acceptable to discriminate the amount of benefits for life and health policies between individuals of

Answer:

different classes

Question 10: what is the purpose of the medical information bureau (MIB)

Answer:

to help underwriters evaluate risk Question 11: If an insurance company issues a Disability Income policy that it cannot cancel or for which it cannot increase premiums, the type of renewability that best desribes this policy is called

Answer:

noncancellable

Question 12: A 70-year old insured individual has suffered from kidney failure for the past 24 months. She is covered by her spouse's large-group employer plan. How will Medicare be utilized in this situation?

Answer:

will be the secondary insurer and pay for claims not fully covered by the group plan Question 13: A business entity wishes to become approved as a producer for soliciting insurance business. Before doing so, the business entity is required to submit to the Director a(n)

Answer:

designated producer assigned for compliance with Illinois insurance laws Question 14: Which type of renewability best describes a Disability Income policy that covers an individual until the age of 65, but the insurer has the right to change the premium rate?

Answer:

guaranteed renewable Question 15: The holder of a business entity registration is REQUIRED to notify the Director whtin __ days of a change in office location

Answer:

30 Question 16: What determines the full amount of Social Security retirement beneits a qualified individual is entitled to recieve?

Answer:

Primary Insurance Amount (PIA) Question 17: A policyholder has a major medical plan with a 80%/20% coinsurance and a deductible of $75. If the insured has previously met her deductible and receives a bill for $175, how much will the insurer pay?

Answer:

$140 Question 18: When an insured changes to a more hazardous occupation, which disability policy provision allows an insurer to adjust policy benefits and rates?

Answer:

change of occupation provision

Question 19: An applicant's character and personal habits can be obtained for underwriting purposes from which source?

Answer:

investigatrive consumer report

Question 20: Benefits provided by a Medicare Supplement policy must NOT

Answer:

duplicate Medicare benefits Question 21: All of the following are examples of insurance advertisement EXCEPT

Answer:

a memo from an employer announcing the availability of coverage for employees Question 22: What should an insured do if the insurer does not send claims forms within the time period set forth in a health policy's Claims Forms provision?

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submit the claim in any form Question 23: Which of these provisions is required under an inidvidual Accident and Health policy?

Answer:

renewal, continuation, or nonrenewal provision

Question 24: An entity that acs as an insurance producer

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has the same bond requirements as an individual producer Question 25: An insurer has the right to recover payment made to the insured from the negligent party. These rights are called?

Answer:

subrogation Question 26: J purchased a Medicare Supplement policy through a direct-response solication. J is allowed at LEAST __days after policy delivery to return the policy and recieve a full refund

Answer:

30