FREE INSURANCE AND STUDY GAMES ABOUT LIFE

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FREE INSURANCE AND STUDY GAMES ABOUT LIFE

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Actual Qs and Ans Expert-Verified Explanation

This Exam contains:

-Guarantee passing score -30 Questions and Answers -format set of multiple-choice -Expert-Verified Explanation Question 1: 58. an association of industry specific employers who are joined together in

order to qualify for, or gain premium advantages, in group insurance is:

Answer:

MET Question 2: 33. what does a standard coinsurance clause found in a health insurance policy require?

Answer:

the insured and insurer pay a percentage of medical expenses that are covered, in excess of the annual deductible Question 3: 43. when children are covered under a Family Life insurance policy:

Answer:

evidence of insurability is not required if conversion is made to permanent insurance for those children Question 4: 31. a health insurance contract states that if, during the first 30 days after the policy's effective date, an illness occurs, there will be no benefits paid out of the policy. What is this period of time called?

Answer:

illness waiver

Question 5: 50. life insurance settlement options include all of the following except:

Answer:

extended term option Question 6: 46. 12 months ago, man slipped and fell at workplace, became paralyzed and expected not to recover; 46 yr old person will probably be able to collect disability income benefits from

Answer:

Worker's Compensation Question 7: 48. if financial loss on a certain group of people occurring over a certain period of time defines the pricing of a disability policy, it is the pricing principle known as:

Answer:

frequency Question 8: 42. the Family Medical Leave Act covers all of following except:

Answer:

expenses incurred due to traveling with a partner that has been transferred abroad

Question 9: 40. which of following is NOT provided by Hospice Care?

Answer:

rehabilitation Question 10: 53. when a family policy covers children, all of the following are true, except:

Answer:

evidence of insurability is required if coverage for children is permanent insurance

Question 11: 32. which covers costs associated with one stipulated illness?

Answer:

Specified Disease Question 12: 35. all of following would be considered one of the three major types of loss

exposures, except:

Answer:

financial loss exposure

Question 13: 37. which of the following statements concerning the usual

coordination-of-benefits provision are correct?

Answer:

when the plans both have the provision, coverage as an employee is primary to coverage paid to dependents Question 14: 47. in order to be qualified to sell LTC insurance in CA, agents must comply with

all of the following except:

Answer:

all licensees are required to pass a LTC knowledge exam every 10 yrs Question 15: 44. all of following are classed by the ADA as life activities, EXCEPT:

Answer:

running Question 16: 36. A Disability Income Policy that covers injuries suffered by an insured on or off the job is called?

Answer:

an occupational policy Question 17: 38. an agent advertising on the Internet must include all of the following in

advertisement, except:

Answer:

agent's business telephone number Question 18: 49. what happens to a license after the death of a natural person who holds a valid insurance license?

Answer:

it always terminates Question 19: 54. when a corporation uses life insurance to purchase shares through a buy-sell agreement, which is true regarding the federal income tax treatment of the transaction?

Answer:

the purchase is treated as a nonregarded loss or gain if the shares are composed of common stock

Question 20: 60. which of following gives individuals the right to purchase additional life insurance regardless of their insurability?

Answer:

guaranteed insurability Question 21: 56. what info can a party to a contract of insurance be allowed NOT to communicate according to CA law?

Answer:

info which the other party already knows Question 22: 45. an insured bought an annuity 10 yrs ago, will retire in 5 yrs, to determine value of annuity, the # of accumulation units is multiplied by value of the separate account. what type of annuity was purchased?

Answer:

variable annuity Question 23: 39. which settlement option allows only the death benefit earnings to be paid to the beneficiary?

Answer:

interest option Question 24: 34. an organization will cease to exist as an entity eligible to hold a license for all

of the following except:

Answer:

termination of a key employee Question 25: 55. all of following is required on a life insurance application, except:

Answer:

the amount of disability income insurance in force Question 26: 59. which of following recall provisions of a disability contract is likely to change the contract least and cost the most?

Answer:

noncancellable contract