FINAL EXAM- GEORGIA LIFE AND HEALTH EXAM

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FINAL EXAM- GEORGIA LIFE AND HEALTH EXAM

QUESTIONS

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

-Format: Multiple-choice / Flashcard

Question 1: Which Long Term Care insurance statement is true?

Answer:

Pre-existing conditions must be covered after the coverage has been in force for six months Question 2: Which of the following statements about non-contributory employee group life insurance is false

Answer:

A minimum number of employees is required to participate

Question 3: Which of these is considered a mandatory provision

Answer:

Payment of Claims

Question 4: In Georgia how long is the free look period

Answer:

10 days

Question 5: 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 6: The health insurance program which is administered by each state in funded by both the federal and state government is called

Answer:

Medicaid

Question 7: A major medical policy typically

Answer:

Provides benefits her reasonable and necessary medical expenses, subject to the policy limits Question 8: Credit life insurance is typically issued with which of the following types of coverage

Answer:

Decreasing term

Question 9: What is not a requirement for becoming a licensed agent in Georgia

Answer:

High school graduate Question 10: M becomes disabled and is unable to work for six months. M dies soon after from complications arising from this disability. M has a disability income policy that pays $2000 a month. Which of the following statements best describes what is owed to her state?

Answer:

Earned but unpaid benefits Question 11: Which of these statements concerning an individual straight life annuity is accurate

Answer:

Payments are made to an annuitant for life

Question 12: An insured must notify and ensure of a medical claim within how many days after an accident

Answer:

20 Question 13: The entity who's sole purpose is sharing medical data among its members companies is called the

Answer:

Medical information bureau MIB Question 14: Upon reaching the limiting age, a handicapped child can extend their accident and sickness insurance coverage as a dependent

Answer:

Only if the child is in capable of employment and chiefly dependent on the policy owner Question 15: X is insured with a disability income policy that provides coverage until age 65.This policy allows the insurer to change the premium rate for the overall risk class assigned.Which of these renewability features does this policy contain?

Answer:

Guaranteed renewable Question 16: S owns a life insurance policy with cash values that fluctuates according to the underlying investment performance of common stocks. Which of these policies does S own

Answer:

Variable whole life Question 17: Q applied for life insurance and submitted the initial premium on January

• The policy was issued February 1, but was not delivered by the agent till February 7. Q is

dissatisfied and returned the policy February 13. How will the insurer handle the situation

Answer:

Policy was returned within the free look period, premium will be fully refunded Question 18: The act of an insurance company publishing misleading information about its policy provisions is called

Answer:

False advertising

Question 19: Cash surrendering an existing whole life policy and purchasing a new whole life policy is referred to as a(n)

Answer:

replacement Question 20: Why must an insurance applicant answer all questions on the application

Answer:

Statements and representations on the application are part of the consideration for issuing a policy Question 21: On a life insurance policy, who is qualified to change the beneficiary designation

Answer:

Policyowner Question 22: 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 23: C is trying to determine whether to convert her a convertible term life policy to whole life insurance using her original age or attained age. What factor would affect her decision the most

Answer:

to cost Question 24: Which health policy clause stipulates that an insurance company must attach a copy of the application to the policy to ensure that it is part of the contract?

Answer:

Entire Contract

Question 25: Why would the commissioner examine an insurer's records

Answer:

to determine the solvency of the insurer