Colorado Health Insurance Exam Questions and

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Colorado Health Insurance Exam| Questions and Verified ANSWERs|100% Correct An insurer must provide claim forms to an insured within a MAXIMUM of how many days after receiving notice of an Accident & Health claim?

• Five
• Fifteen
• Twenty
• Thirty

ANSWER: B

Under a group health plan, an employer may offer additional benefits to classes of employees on the basis of all of the

following factors EXCEPT:

• length of employment
• gender
• salary grade
• job category

ANSWER: B

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Which of the following statements is CORRECT about a Waiver of Premium provision in a Disability Income policy?

• It allows the insurer to deduct premiums due from the

disabled insured's benefit payments.

• It allows the insurer to increase the amount of premium

during the insured's time of disability.

• It allows the insured to extend the length of the Grace Period

while disabled.

• It allows the insured to maintain a policy in force while

disabled and unable to pay premiums.

ANSWER: D

Suicide, pre-existing conditions and self-inflicted injuries are dealt with in which of the following policy features?

• Extensions of coverage
• Benefits clause
• Riders
• Exclusions

ANSWER: D

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An insured becomes disabled three years after his Disability Income policy is issued. The disability is caused by a condition that existed prior to the policy issue date but was not specifically excluded from coverage. In this situation, the insurer will most likely take which of the following actions?

• Pay the full claim
• Pay the claim for a maximum of six months only
• Deny the claim on the basis of misrepresentation
• Deny the claim because it involves a pre-existing condition

ANSWER: A

A health care plan that reimburses a flat fee for medical care it

provides at a clinic it owns and operates is referred to as:

• Health Maintenance Organization
• Medicaid
• Medicare
• Multiple Employer Trust (MET)

ANSWER: A

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Which of the following laws requires an insurer to notify an applicant in writing that an investigative consumer report may be made on the applicant?

• Uniform Provisions Law
• Freedom of Information Act
• Medical Information Bureau Disclosure Act
• Fair Credit Reporting Act (Insurance Information and

Privacy Protection Act)

ANSWER: D

Under a Guaranteed Renewable Accident & Health policy, an

insurer retains the right to:

• increase the premium rate for one insured without increasing

the rate for others in the same class

• increase the premium rate for an entire class of insureds
• increase the benefits for an individual insured
• decrease benefits for one insured without decreasing benefits

for others in the same class

ANSWER: B