Kentucky Health Insurance Exam (New Update) Questions and Verified ANSWERs| 100 % Correct| Grade
Kentucky Health Insurance Exam (New Update)
Questions and Verified ANSWERs| 100 % Correct|
Grade
Question: Sean has renewed his health insurance policy with
Ability Insurance every year for the past 3 years. At this
renewal, Sean received an extra payment from his insurer as a
reward for renewing his policy and to encourage him to renew
his policy again next year. What is this extra amount called?
Options: 1. An endorsement, 2. An accumulation, 3. A
supplemental benefit, 4. An additional benefit
ANSWER: 2. An accumulation [Note: The user’s ANSWER
aligns with a possible interpretation where “accumulation”
refers to a returned benefit or dividend, though this is more
commonly called a “policyholder dividend” or “premium
refund” in insurance. “Accumulation” typically relates to cash
value, so this may be context-specific.]
Question: When an individual is covered under two health
insurance policies that have duplicate benefits which could
make a claim for benefits because of an injury or illness
profitable, it is called:
Options: 1. Pro-rata coverage, 2. Overinsurance, 3. Double
indemnity coverage, 4. Fraternal coverage
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