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HEALTH INSURANCE PRACTICE QUESTIONS EXAM
QUESTIONS
Actual Qs and Ans - Expert-Verified Explanation -Guaranteed passing score -40 Questions and Answers
-Format: Multiple-choice / Flashcard
Question 1: The medical information bureau provides information about
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individual health insurance applicants Question 2: Under the terms of the notice of claims provision in a health insurance policy, a claimant normally must notify the insurance company of loss within how many days after the loss occurs
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20 days Question 3: Under COBRA regulations, group health coverage of terminated employees must be continued up to
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18 months Question 4: All statements and descriptions in any application for an insurance policy by an insured are deemed to be
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representations and not warranties
Question 5: The insurers operating costs are known as
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expense loading Question 6: The period in which an insured much pay for care before the policy begins benefits is called
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the elimination period Question 7: An insured lets a health policy lapse, and he wishes to reinstate. If a conditional receipt is issued with the reinstatement application, after how many days will the policy be considered reinstated if the insurance company takes no action
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45 days Question 8: In group insurance, the evidence of an agreement between the insurer and the employer or association is the
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contract Question 9: Under social security disability benefits, a qualified disabled worked receives a benefit of
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100% of workers primary insurance amount Question 10: The health maintenance organization concept that service providers are paid a fixed monthly fee for each member is called
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capitation Question 11: Act that obligates insurers that use a third-party source to acquire credit information to inform applicants who have been denied coverage identity of that source
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The Fair Credit and Reporting Act
Question 12: A notice to the Applicant must be issued to the consumer no later than
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- days after the report was requested
Question 13: A group of employers from a similar industry assembled to qualify for group health insurance is a
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multiple employer trust Question 14: A single plan that covers employees of two or more unrelated employers is called a
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multiple employer welfare arrangement Question 15: When separate deductibles are required for each illness or accident, what kind of deductible is in effect?
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per cause Question 16: A medicare supplement policy is returned to the issuing insurer 10 days after policy delivery. What portion of the premium will be refunded to the policy owner?
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100% of the amount paid to the insurer Question 17: Compared with individual disability income policies, group disability income policies are generally
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less costly and have less benefit options
Question 18: When is a conditional receipt usually given to an applicant
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When the initial premium is paid
Question 19: The intentional failure to disclose known facts is known as
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concealment Question 20: Under a group credit disability policy, what is the maximum amount of any accidental death benefit included?
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a specified multiple of the monthly loan payment
Question 21: A insurance policy is a unilateral contract because
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only the insurance company is bound to live up to its side of the agreement Question 22: The usual payment arrangement under a preferred provider organization contract is
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a fee for service Question 23: Which type of health insurance policy prevents the insurer from changing the premium rate or modifying coverage in any way?
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Noncancelable policy Question 24: Employer-paid premiums for employee group health insurance are generally (taxes)
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tax deductible to the employer, and nontaxable to the employee Question 25: Qualified Health plans that are part of the affordable care act are sold
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only on the health insurance exchange Question 26: The dollar amount beyond which the insured no longer must pay coinsurance percentage and participate in expense payment
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stop-loss limit
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