FREE AND STUDY GAMES ABOUT LIFE AND HEALTH EXAM

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FREE AND STUDY GAMES ABOUT LIFE AND HEALTH EXAM

QUESTIONS

Actual Qs and Ans Expert-Verified Explanation

This Exam contains:

-Guarantee passing score -156 Questions and Answers -format set of multiple-choice -Expert-Verified Explanation

Question 1: Mortality - interest + Expense =

Answer:

Gross premium

Question 2: When would a 20-pay whole life policy endow?

Answer:

When the insured reaches age 100 Question 3: what is the benefit of choosing extended term as a nonforfeiture option

Answer:

It has the highest amount of insurance protection Question 4: When the insured initials the cancellation of a policy, the unearned premium will be refunded on a

Answer:

Short rata basis

Question 5: An insurer wants to obtain information from investigators regarding an applicant for insurance. What must the insurer do in order to legally acquire this information?

Answer:

Present the insured with a disclosure authorization notice Question 6: A policyowner is reading on the first page of his health insurance policy , which says "this is a limited policy " what is the name of this statement?

Answer:

Limited policy notice

Question 7: A guaranteed renewable health insurance policy allows

Answer:

Policy holder to renew the policy to a stated age, with the company having the right to increase premiums on the entire class Question 8: An agent accepts the premium payment 35 days after it is due, telling the insured that there will be no problem keeping the policy in force. This is an example of what type of agent authority?

Answer:

Appartent Question 9: In long-term care insurance, what type of care is provided with intermediate care?

Answer:

Occasional nursing or rehabilitation care Question 10: An insured has a primary group health plan and an excess plan, each covering losses up to $10,000. The insured suffered a loss of $15,000. Disregarding any copayments or deductibles, how much will the excess plan pay?

Answer:

$5,000

Question 11: The rider that may be added to a disability income policy that allows for an increase in the benefit amount under certain conditions is called

Answer:

Cost of living (COLA)

Question 12: All of the following are requirements for life insurance illustrations EXCEPT

Answer:

They must be a part of the contract Question 13: An insured is scheduled to have two cavities filled. He knows in advance which benefits will be paid for the procedure. Which clause is responsible for the advanced notification?

Answer:

Prior authorization Question 14: An insured owns a $50,000 whole life policy. At the age 47, the insured decides to cancel his policy and exercise the extended term option for the policy's cash value, which is currently $20,000. What would be the face amount of the new term policy?

Answer:

$50,000

Question 15: What is the waiting period on a waiver of premium rider in life insurance?

Answer:

• months

Question 16: Rod wants to lay his initial life insurance premium in advance. Which of the following best describes his situation?

Answer:

Rod can pay his premium as early as he wants, even with his application Question 17: Insurer X charges the premium from its insured customers, passing on operating expenses for the company. The operating expenses plus premium equals the "gross" premium.What is another name for the operating cost for insurer X?

Answer:

Expense loading Question 18: An insured pays a monthly premium of $100 for health insurance. What would the duration of the grace period under her policy?

Answer:

10 days

Question 19: What is a foreign insurer?

Answer:

An insurer with a home office in another state Question 20: Which of the following determines the cash value of a variable life policy?

Answer:

The performance of the policy portfolio Question 21: In disability income insurance, the own occupation definition of disability applies

Answer:

For the first 2 years of disability

Question 22: Which component increases in the increasing term insurance?

Answer:

Death benefit Question 23: A participant contributes more than the maximum amount to her Roth IRA. what kind of tax penalty will he or she have to pay

Answer:

6%

Question 24: Long-term care policies MUST cover

Answer:

Alzheimer's disease Question 25: Under which nonforfeirture option does the company pay the surrender value and have no further obligations to the policyowner

Answer:

Cash surrender Question 26: Under uniform required provisions, proof of loss under a health insurance policy normally should be filed within

Answer:

90 days