FREE AND STUDY GAMES ABOUT HEALTH AND LIFE EXAM

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FREE AND STUDY GAMES ABOUT HEALTH AND LIFE EXAM

QUESTIONS

Actual Qs and Ans Expert-Verified Explanation

This Exam contains:

-Guarantee passing score -100 Questions and Answers -format set of multiple-choice -Expert-Verified Explanation

Question 1: An insurer cannot deny a claim unless

the Commissioner gives a written approval it exceeds a specific dollar amount there is a reasonable explanation of the claim the policy has exceeded the contestable period

Answer:

there is a reasonable explanation of the claim Question 2: A Disability Income policyowner recently submitted a claim for a chronic neck problem that has now resulted in total disability. The original neck injury occurred before the application was taken 5 years prior. The neck injury was never disclosed to t

Answer:

Final Exam - Colorado Health and Accident Question 93Select the appropriate response A Disability Income policyowner recently submitted a claim for a chronic neck problem that has now resulted in total disability. The original neck injury occurred befo

Question 3: P is self-employed and owns an Individual Disability Income policy. He becomes totally disabled on June 1 and receives $2,000 a month for the next 10 months. How much of this income is subject to federal income tax?

$20,000

$14,000

$6,000

$0.00

Answer:

O Question 4: An insured owns an individual Disability Income policy with a 30-day Elimination Period for sickness and accidents and a monthly indemnity benefit of $500. If the insured is disabled for 3 1/2 months, what is the MAXIMUM amount he would receive for an app

Answer:

1250 Question 5: According to the Colorado Fraud Statute, all of the following must contain a warning against insurance fraud EXCEPT applications policies certificates of authority claim forms

Answer:

certificates of authority

Question 6: Final Exam - Colorado Health and Accident

Question 62Select the appropriate response If the insured and primary beneficiary are both killed in the same accident and it cannot be determined who died first, where are the death proceeds to be directed und

Answer:

Insured's contingent beneficiary Question 7: When an insured changes to a more hazardous occupation, which disability policy provision allows an insurer to adjust policy benefits and rates?Relation of earnings to insurance provision Change of occupation provision Conformity of state statutes pro

Answer:

Change of occupation provision

Question 8: Which of these terms accurately defines an underwriter's assessment of information on a health insurance application?Risk classification Warranty review Insurable interest Inspection report

Answer:

Risk classification Question 9: When may the Commissioner conduct an examination of an insurance company?maximum once per year maximum every 3 years maximum every 5 years as often as deemed necessary

Answer:

As often deemed necessary Question 10: An insurer that terminates a producer's appointment must inform the Commissioner within how many days?15 30 45 55

Answer:

30

Question 11: What is the purpose of the Time of Payment of Claims provision?

Answer:

Prevents delayed payments Question 12: If a producer is found to be writing primarily controlled business, the producer will be forced to return all commissions to the insurer the Commissioner will have the producer imprisoned the Commissioner will not renew the license the producer must a

Answer:

The commissioner will not renew the license

Question 13: Which of the following reimburses its insureds for covered medical expenses?Health maintenance organizations Preferred provider organizations Commercial insurers Service providers

Answer:

Commercial insurers Question 14: A company that has not been authorized to operate in Colorado is known as a prohibited entity a nonadmitted insurer an alien company an undesirable carrier

Answer:

nonadmitted insurer

Question 15: Which of the following is an example of a misrepresentation?

Failing to affirm or deny coverage of claims within a reasonable time Returning a portion of a premium as inducement to purchase insurance Making malicious statements about an insurer Descri

Answer:

Describing a universal life policy as a security Question 16: After an insured gives notice of loss, what must he/she do if the insurer does not furnish forms?File a lawsuit Contact the insurer again requesting forms Nothing File written proof of loss

Answer:

File written proof of loss Question 17: Who is not eligible to receive commissions from the sale of an insurance product?Licensed home office employee Corporate executive Personal producer General agent

Answer:

Corporate executive