FREE STANDARDIZED TESTS AND STUDY GAMES ABOUT

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FREE STANDARDIZED TESTS AND STUDY GAMES ABOUT

HEALTH&LIFE Actual Qs and Ans Expert-Verified Explanation

This Exam contains:

-Guarantee passing score -151 Questions and Answers -format set of multiple-choice -Expert-Verified Explanation Question 1: A person buys an individual long-term care policy and is not satisfied with the provisions. Within how many days will the insured be able to return the policy for a full premium refund?

Answer:

30 days Question 2: Which of the following will be EXEMPT from continuing education requirements

Answer:

A limited lines credit producer.Question 3: Which of the following health care plans would most likely provide the insured/subscriber with comprehensive health care coverage?

Answer:

Health Maintenance Organization plan Question 4: Which of the following would NOT be eligible for a health insurance policy from the Indiana Comprehensive Health Insurance Association

Answer:

A person who applied for Medicaid 90 days prior to applying for the Association policy.

Question 5: Which of the following would be deducted from the death benefit paid to a beneficiary if a partial accelerated death benefit had been paid while the insured was still alive

Answer:

Amount paid with the accelerated benefit plus the earnings lost by the insurance company in interest income from the accelerated benefit

Question 6: Equity Indexed Annuities,

Answer:

Equity Indexed Annuities invest on an aggressive basis in order to yield higher returns Equity Indexed Annuities have guaranteed minimum interest rates less risky than variable annuities and earn higher interest rates than fixed annuities

Question 7: In a defined contribution plan,

Answer:

The contribution is known and the benefit is unknown.Question 8: Which of the following is NOT a way to determine the interest rate in a Universal Life Policy

Answer:

Estimate market conditions for the life of the policy.

Question 9: What documentation grants express authority to an agent?

Answer:

Agent's contract with the principal Question 10: An employee is insured under her employer's group life plan If she terminates her group coverage which of the following statements is INCORRECT

Answer:

The insured may choose to convert to term or permanent individual coverage - When group coverage is converted to an individual policy the insurer will determine the type of coverage usually permanent insurance.Question 11: All of the following would NOT be considered eligible expenses under an ICHIA policy EXCEPT

Answer:

AIDS treatment.

Question 12: Which of the following methods to designate a beneficiary literally means "by the head

Answer:

Per Capita Question 13: An insured is covered by a high-deductible health plan and makes regular contributions to this HSA. How are those contributions treated in regards to taxation?

Answer:

The contributions are tax deductible Question 14: Which of the following is TRUE regarding a policy issued to a labor union insuring members of the organization for the benefit of persons other than the union or organization

Answer:

The members eligible for insurance under the policy must be all the members of the union or organization Question 15: Sue has an HSA and is planning to leave her current job for a new job. When she leaves her job, what will happen to her HSA?

Answer:

It will continue because it is owned by Sue, not her employer Question 16: Customer can use the interest gained on a policy to pay premium is they have this type of policy

Answer:

Universal life.

Question 17: Accumulation at Interest option

Answer:

The interest credited under this option is TAXABLE, whether or not the policy owner receives it.

Question 18: The Probationary Period is

Answer:

A specified period of time that a person joining a group has to wait before becoming eligible for coverage.

Question 19: Which of the following statements about occupational vs. nonoccupational coverage is TRUE

Answer:

Disability insurance can be written as occupational or nonoccupational.Question 20: type of policy that is less expensive than a variable policy- also offers the benefit of higher security against a decline in stock market, allows insured the security with a fixed universal policy but has potential of growth like a variable policy.

Answer:

Equity Indexed Universal Policy Question 21: Under the Affordable Care Act, a special enrollment period allows an individual to enroll in a qualified health plan within how many days of a qualifying event?

Answer:

60 days Question 22: A banker is ready to close on a customer's loan The bank is prepared to offer the loan but only if the customer purchases a life insurance policy from the bank in the amount of the loan This is an example of,

Answer:

Coercion.Question 23: If an annuitant dies before annuitization occurs, what will the beneficiary receive?

Answer:

Either the amount paid into the plan or the cash value of the plan, whichever is the greater amount Question 24: Which of the following riders would NOT cause the Death Benefit to increase

Answer:

Payor Benefit Rider Question 25: Under workers compensation which of the following benefits are NOT included

Answer:

Legal Benefits