HEALTH AND LIFE INSURANCE EXAM, QUESTIONS

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HEALTH AND LIFE INSURANCE EXAM, QUESTIONS

Actual Qs and Ans - Expert-Verified Explanation -Guaranteed passing score -100 Questions and Answers

-Format: Multiple-choice / Flashcard

Question 1: First premium has been paid and the application has been approved.

Answer:

Health coverage become effective at what time?

Question 2: Consumer Report

Answer:

What type of report includes information regarding a person's credit, character, reputation and habits?

Question 3: NAIC

Answer:

A long term care insurance shopper's guid must be provided in the format developed by who?

Question 4: Payment of claims

Answer:

What provision would prevent an insurance company from paying a reimbursement claim to someone other than the policy owner?

Question 5: taxable

Answer:

An distributions from MEC's are what? This includes withdrawals and policy loans.

Question 6: period of time

Answer:

Which renewability provision are you most likely to see on a travel accident policy?

Question 7: provide evidence of insurability

Answer:

If a policy owner of an adjustable life policy wants to increase the death benefit what could he do?

Question 8: Rates by Class

Answer:

Insurers may change which of the following on a guaranteed renewable health insurance policy?

Question 9: Within 30 days and it could result in a $50 fine

Answer:

IF a resident producer or solicitor has a change of residential or business address, how soon must the licensee notify the commissioner? and what could be the result fine if they don't?

Question 10: One-year term option

Answer:

The dividend option in which the policy owner uses dividends to purchase a term policy for one year is referred to as what?

Question 11: Exposure

Answer:

A condition that could result in a loss is now as what?

Question 12: a securities license

A life insurance license A FINRA registration

Answer:

To sell variable life insurance policies, an agent must receive what?

Question 13: Insurers are barred from requisition HIV testing

Answer:

What is not true regarding HIV testing for life insurance policies?

Question 14: Promote the public welfare

Answer:

What is the purpose of insurance regulation?

Question 15: Monthly

Answer:

Under an individual disability policy, the minimum schedule of time in which a claim payment must be made to an insured is what?

Question 16: Increasing Term

Answer:

What type of insurance would be used for a return of premium rider?

Question 17: Human life value approach

Answer:

What method of calculating the amount of life insurance needed takes into account the insured's wages, years until retirement, and inflation?

Question 18: The refund of the original amount minus payments already made

Answer:

With the cash refund option, when the annuitant dies, what would the beneficiary receive?

Question 19: time of payment of claims

Answer:

Which provision States that the insurance company must pay medical expense claims immediately?

Question 20: Beneficiaries are not identified by name

Answer:

What is true about class designation?Question 21: The surrender charge is a percentage of the cash value and decreases over time

Answer:

If a deferred annuity is surrendered prematurely, a surrender charge is imposed. How is the surrender charge determined?

Question 22: Registered nurses

licensed practical nurses' licensed vocational nurses or community based organizations like hospice

Answer:

What occasional visits to a persons home is covered under LTC home health care?

Question 23: Health Maintenance Organization Plan

Answer:

What is an HMO?

Question 24: The source must be identified

Answer:

What is true regarding statistics use din an advertisement?

Question 25: It provides income the beneficiary cannot outlive

Answer:

What can happen regarding a single life settlement option?

Question 26: Case Management Provisions

Answer:

Cost-saving services are what?Question 27: A certain period of time and typically 50% of the total disability benefit

Answer:

The payment of partial disability benefits is limited to what?

Question 28: To cover the expenses of retraining the insured to return to work

Answer:

What is the purpose of the rehabilitation benefit in disability insurance?

Question 29: The state

Answer:

The regulation of the insurance industry primarily rests with who?