GUARANTEE EXAM LIFE AND HEALTH INSURANCE TEXAS

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GUARANTEE EXAM LIFE AND HEALTH INSURANCE TEXAS

Actual Qs and Ans - Expert-Verified Explanation -Guaranteed passing score -82 Questions and Answers

-Format: Multiple-choice / Flashcard

Question 1: When is the earliest a policy may go into effect ?

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When the application is signed and a check is given to the agent Question 2: If a basic medical insurance plan's benefits are exhausted , what type of plan will then begin covering those losses ?

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Supplementary major medical Question 3: A brain surgeon has an accident and develops tremors in her right arm . Which disability income policy definition of total disability will cover her for all losses ?

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"Own occupation" less restrictive than other definitions Question 4: If a life insurance company uses HIV testing as a part of its underwriting , when must an applicant be notified of the procedure ?

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Prior to performance of the test

Question 5: A core Medicare supplement policy ( Plan A ) will cover all of the following expenses EXCEPT

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Part A deductible Question 6: Which of the following does NOT have to be included on the first page of a Medicare supplement policy ?

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Premium rates Question 7: According to the Common Disaster clause , if the insured and primary beneficiary are killed in the same accident and it cannot be determined who died first , which of the following will be assumed ?

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The primary beneficiary died before the insured .Question 8: If a credit life policy is terminated upon the payment of the death benefit , what happens to the premium paid into the policy ?

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The premium is considered earned , so no refund is required .Question 9: Regarding the PPACA health care tax credit , which of the following is true ?

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Persons receiving Medicaid are not eligible .Question 10: The Guaranteed Insurability Rider allows the owner to purchase additional amounts of life insurance without proof of insurability at all of the following EXCEPT

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Purchase of a new home Question 11: Hospital indemnity / hospital confinement indemnity policy will provide payment based on

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The number of days confined in a hospital

Question 12: When a whole life policy lapses or is surrendered prior to maturity , the cash value can be used to

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Purchase a single premium policy for a reduced face amount Question 13: An insured decides to surrender his Whole Life insurance policy . The cash value at surrender is higher than the premiums paid into the policy , due to interest . What part of the surrender value would be income taxable ?

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The difference between the premiums paid and the cash value Question 14: Under a health insurance policy , benefits , other than death benefits , that have not otherwise been assigned , will be paid to

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The insured Question 15: What is the maximum amount of time an insurer may delay payment of a claim without having to pay an additional interest ?

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60 days Question 16: Which of the following provisions states the insurer's right to change premium amounts ?

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Continuation Provision Question 17: In which Medicare supplemental policies are the oore benefits found ?

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All plans Question 18: The provision that sets forth the basic agreement between the insurer and the insured and states the insurer's promise to pay the death benefit upon the insured's death is called the

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Insuring clause

Question 19: Which of the following is true regarding a joint life annuity ?

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The payments stop at the first death Question 20: Which of the following best describes a Major Medical Expense Policy ?

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It provides catastrophic medical coverage beyond basic benefits on a usual , customary and reasonable basis .Question 21: What type of health insurance plan provides broad medical expense coverage without requiring an insured to meet a deductible ?

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Indemnity Question 22: The LEAST expensive first - year premium is found in which of the following policies ?

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Annually Renewable Term

Question 23: Which of the following is TRUE of level term insurance ?

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It is temporary protection Question 24: Riley reads an agreement on the first page of her policy which includes a list of losses that will be covered by her insurer . What is the name of this agreement ?

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Insuring Clause Question 25: A Medicare supplement policy must have a free - look period of at least

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30 days .Question 26: Your client wants to provide a retirement income for his elderly parents in case something happens to him , He wants to make sure that both beneficiaries are guaranteed an income for life . Which settlement option should this policyowner select ?

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Soint and Survivor