LIFE AND HEALTH INSURANCE EXAM

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LIFE AND HEALTH INSURANCE EXAM

Actual Qs and Ans - Expert-Verified Explanation -Guaranteed passing score -80 Questions and Answers

-Format: Multiple-choice / Flashcard

Question 1: Managed Care

Answer:

A woman's health insurance policy dictates which doctors she is allowed to see. Her health providers share an assumed risk for their patients and encourage preventative care. What best describes the health system that the woman is using?

Question 2: Increasing

Answer:

A Return of Premium term life policy is written as what type of term coverage?

Question 3: The annuitant must be a natural person.

Answer:

The president of a company is starting an annuity and decides that his corporation will be the annuitant.Which of the following statements is true?

Question 4: The cost of coverage is a deductible expense by the employer.

Answer:

An employer offers group life insurance to its employees for the amount of $10,000. Which of the following is true?

Question 5: The application given to a prospective insured

Answer:

Which of the following is NOT the consideration in a policy?

Question 6: Dividend amounts are guaranteed in the policy.

Answer:

All of the following statements concerning dividends are true EXCEPT

Question 7: Skilled care.

Answer:

All of the following long-term care coverages would allow an insured to receive care at home EXCEPT

Question 8: The policyholder.

Answer:

A person insured under a group life insurance policy can make an assignment of all or any part of the incidents of ownership conferred on the insured by the policy or by law, to any of the following EXCEPT

Question 9: $5000

Answer:

An insured has a primary group health plan and an excess plan, each covering losses up to $10,000.The insured suffered a loss of $15,000. Disregarding any copayments or deductibles, how much will the excess plan pay?Question 10: The insurer can increase the policy premium on an individual basis.

Answer:

Which of the following is NOT a feature of a guaranteed renewable provision?

Question 11: 115% of the regular group rate.

Answer:

The Florida Health Insurance Coverage Continuation Act requires insurers that sell health plans to small employers to offer in those plans a right to elect to continue coverage, without providing evidence of insurability, to employees who lose their coverage and are unable to replace it. The premium rate for this coverage may NOT exceed

Question 12: HMOs may pay for services not covered by Medicare.

Answer:

Which of the following statements is correct?

Question 13: Outline of Coverage

Answer:

Which document helps ensure that full and fair disclosure is provided to the recipient of a policy?

Question 14: 8%

Answer:

If a claim is made on a policy during the grace period, an insurer is allowed to deduct the overdue premium and to charge interest. What is the maximum allowed interest rate?

Question 15: An unfair trade practice.

Answer:

If an insurance company makes a statement that its policies are guaranteed by the existence of the Insurance Guaranty Association, that would be considered

Question 16: It has the highest amount of insurance protection.

Answer:

What is the benefit of choosing extended term as a nonforfeiture option?

Question 17: NAIC

Answer:

A long-term care insurance shopper's guide must be provided in the format developed by which of the following?

Question 18: When an insurer's underwriter approves coverage

Answer:

In forming an insurance contract, when does acceptance usually occur?Question 19: They can be changed only with the written consent of that beneficiary.

Answer:

Which of the following statements is TRUE concerning irrevocable beneficiaries?

Question 20: Speaking.

Answer:

All of the following are activities of daily living EXCEPT

Question 21: They must be part of the contract.

Answer:

All of the following are requirements for life insurance illustrations EXCEPT

Question 22: Surgery to repair a wrist damaged by tendonitis.

Answer:

Which of the following would an accident-only policy NOT cover?

Question 23: Home health care

Answer:

Which of the following types of LTC is NOT provided in an institutional setting?

Question 24: 25

Answer:

In order for an employee to be considered eligible for small group insurance, he/she must work at least how many hours per week?

Question 25: 15.

Answer:

The minimum age for purchasing life insurance policy in Florida is

Question 26: Insurance Guaranty Association

Answer:

Which of the following entities protects policyowners, insureds, and beneficiaries under insurance contracts when insurers fail to perform contractual obligations due to financial impairment?

Question 27: If the employee enrolls within a certain time period

Answer:

Under what conditions will proof of insurability NOT be required of an employee wanting to enroll in a group insurance plan?