.png){kind=logo}
PDF Download
FINAL EXAM - SOUTH CAROLINA LIFE AND HEALTH
Actual Qs and Ans - Expert-Verified Explanation -Guaranteed passing score -100 Questions and Answers
-Format: Multiple-choice / Flashcard
Question 1: Group health plans may deny participation based upon the
Answer:
member' part-time employment status
Question 2: All of the following are elements of an insurance policy EXCEPT
Answer:
Claim Forms
Question 3: Which of these gaps in Medicare coverage is addressed with Medicare
Supplemental Insurance?
Answer:
Medicare in-hospital deductible Question 4: Which of these is affected by the frequency of an insurance policy's premium payments?
Answer:
Cost Question 5: In South Carolina, which of the following statements is TRUE regarding a licensed individual changing his or her legal name?
Answer:
The producer must notify the Department upon changing his or her legal name
Question 6: Under the Consolidated Omnibus Budget Reconciliation Act (COBRA), a terminated employee's benefits must
Answer:
be the same and the premium cannot exceed 102%
Question 7: The Fair Credit and Reporting Act's main purpose is to
Answer:
protect consumers with guidelines regarding credit reporting and distribution Question 8: An employer may qualify for health care tax credits through SHOP Marketplace if that employer has fewer than how many employees?
Answer:
25
Question 9: An example of endodontic treatment is a
Answer:
root carnal Question 10: What is the name of the provision which states that a copy of the application must be attached to the policy when issued?
Answer:
Entire Contract Question 11: Which approach predicts a person's earning potential and determines how much of that amount would be devoted to dependents?
Answer:
Human life value approach Question 12: Signatures for an insurance application MUST be obtained by the producer from all of the following sources EXCEPT
Answer:
the beneficiary
Question 13: Which of the following nursing home options would BEST suit an individual who needs some nursing care and supervision but NOT full-time care?
Answer:
Assisted living facilities Question 14: In South Carolina, what is the MAXIMUM length of time an insurer can defer payment of a cash surrender value of an annuity?
Answer:
- months
Question 15: The typical long-term care insurance policy is designed to provide a minimum of __ year(s) of coverage.
Answer:
1 Question 16: Tim is covered under a group plan and would like to change his group coverage to an individual policy with the same insurer because of employment termination. Which of these describes the change that will take place?
Answer:
Conversion
Question 17: The free-look provision gives the policyowner
Answer:
the right to return the policy for a full refund within a specified number of days Question 18: The amount received for a life insurance policy in a viatical settlement is
Answer:
Less than the death benefit
Question 19: An indemnity plan
Answer:
provides the insured a specific dollar amount for services
Question 20: All Health Benefit Plans issued after January 1, 2014 must provide
Answer:
preventative health services Question 21: When a decreasing term policy is purchased, it contains a decreasing death benefit and
Answer:
level premiums
Question 22: A type of insurer that is owned by its policyowners is called
Answer:
mutual
Question 23: Under a non-qualified annuity, interest is taxed after the
Answer:
exclusion ratio has been calculated Question 24: How long can an insurer exclude coverage for a preexisting condition on a Medicare Supplement Policy?
Answer:
- months
Question 25: A waiver of premium rider allows an insured to waive premium payments if the insured is
Answer:
completely and permanently disabled Question 26: The MAXIMUM time period that an eligible employee can be excluded from coverage under a group health policy as a late enrollee is
Answer:
18 months Question 27: How many months can a life insurance policy normally be backdated from the date of application?3 6 9 12
.png)