LIFE AND HEALTH INSURANCE EXAM 1

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LIFE AND HEALTH INSURANCE EXAM 1

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

-Format: Multiple-choice / Flashcard

Question 1: Gianna starts work at a new job on March

• She is not eligible for insurance coverage until July
• The period between start date and her eligibility date is
• the probationary period
• the eligibility period
• the selection period
• the waiting period

Answer:

A The probationary period is the time period from the hire date to when the employee is eligible to enroll in the group plan. There is no coverage during the probationary period.Question 2: The ZYX Insurance Company is incorporated in Mexico. While doing business in Texas, it is

• adomesticinsurer
• a foreign insurer
• an alien insurer
• an export insurer

Answer:

C

Question 3: UNIT 3: Insurance agents are appointed by

• the federal government
• the state Department of Insurance
• the Insurance Commissioner
• insurance companies

Answer:

D Insurance agents are appointed by insurance companies.Question 4: . Under the financial privacy safeguards of the Gramm Leach Bliley Act, an individual about whom a financial institution collects information is

• a customer
• a consumer
• a client
• a patron

Answer:

B Question 5: Kim is injured in a house fire. When the bills come, the insurance company pays 80% of the cost, and Kim pays the rest. This is an example of

• coinsurance
• a deductible
• extraneous insurance
• policy limits

Answer:

A

Question 6: John fills out an application for a life insurance policy to insure his own life, for which he plans to pay the premiums. John is playing all of the following roles EXCEPT

• applicant
• policyowner
• insured
• beneficiary

Answer:

D The insured cannot ever be the beneficiary in a life insurance contract.

Question 7: Insurance laws generally are written by

• thefederalgovernment
• the state legislature
• the state Department of Insurance
• the Commissioner

Answer:

B Question 8: UNIT 2:Pretext interviews are

• alwaysillegal
• not permitted without a warrant sworn by a

sitting judge

• generally accepted practice in the industry
• not permitted unless some evidence of

criminal activity exists

Answer:

D

Question 9: Which kind of receipt is most commonly used in life insurance?

• Conditional receipt
• Binding receipt
• Inspection receipt
• Premium receipt

Answer:

A Question 10: Which of the following people represents several insurance companies but owns the policy expirations?

• Independent agent
• Exclusive agent
• Direct writing agent
• General agent

Answer:

A Question 11: Non financial regulatory activities of an insurance department fall under the broad heading of

• market regulation
• conduct regulation
• market conduct
• insurance conduct

Answer:

C