Life, Accident, and Health Insurance Exam New 2024 Version Exam Best Studying Material with 200 Questions and Answers
An insurer must furnish to a claimant forms for filing proof of loss within ___ days upon receiving a notice of claim. ----------- Correct Answer ---------- 15 days
violation of us code 1033 who deals w it ----------- Correct Answer ---------- us attorney general
an insurer is required to off which of the following to each long term care applicant at the time of purchase ----------- Correct Answer ---------- inflation protection feature
which annuity payout option allows the policy owner to choose a redetermined number of benefit payments ----------- Correct Answer ---------- period certain
which of the following describes a person who is not acceptable by the insurer at a standard rates bc of health history, occupation or hobbies ----------- Correct Answer ------ ---- substandard risk
which of these premium payment frequencies is not typically available to a policy owner? ----------- Correct Answer ---------- bi-weekly
reduced paid-up nonforfeiture ----------- Correct Answer ---------- policy has a decreased face amount
eligible for part d: prescription drug coverage ----------- Correct Answer ---------- must have medicare coverage
valid prescription is incorrect
the first payment for newborn accident and health coverage is due ___ days after the birth ----------- Correct Answer ---------- 31
Premium mode is a term used to describe the ----------- Correct Answer ---------- frequency of the premium payment
all of the following are considered appropriate uses of life insurance for bus purposes except ----------- Correct Answer ---------- protecting the bus by covering entry level employees w life insurance
life insurance policy that contains a guaranteed interest rate with the chance to earn a rate that is higher than the guaranteed rate is called ----------- Correct Answer ---------- universal life 1 / 3
`
a plan in which an employer pays insurance benefits from a fund derived form the employers current revenues is called ----------- Correct Answer ---------- a self-funded plan
confidentiality of health info applies to info supplied by ----------- Correct Answer ---------- both the covered ind and the providers
one of the most important considerations when replacing health insurance would be the ----------- Correct Answer ---------- exclusions on a new policy
an insurer is required to off which of the following to each long term care applicant at the time of purchase ----------- Correct Answer ---------- inflation protection feature
which annuity payout option allows the policy owner to choose a redetermined number of benefit payments ----------- Correct Answer ---------- period certain
which of the following describes a person who is not acceptable by the insurer at a standard rates bc of health history, occupation or hobbies ----------- Correct Answer ------ ---- substandard risk
which of these premium payment frequencies is not typically available to a policy owner? ----------- Correct Answer ---------- bi-weekly
according to the health insurance portability and accountability act, when can a group health policy renewal be denied? ----------- Correct Answer ---------- participation or contribution rules have been violated
a permanent life insurance policy where the policy owner pays premiums for a specified number of years is called ----------- Correct Answer ---------- limited pay policy
kurt is an active duty servicemen who was recently killed in an accident while home on a leave. which military service exclusion clause would pay upon his death? ----------- Correct Answer ---------- results
decreasing term life insurance is often used to ----------- Correct Answer ---------- to provide coverage for a home mortgage
the double indemnity provision in a life insurance policy pertains to an insured death caused by an ----------- Correct Answer ---------- accident
An attending physician's statement would be appropriate for which life insurance purpose?Attending physician's statements are mandatory during the application process At the request of the applicant to assist in the underwriting decision 2 / 3
At the request of the producer to assist in the underwriting decision At the request of the insurer to assist in the underwriting decision ----------- Correct Answer ---------- c
a long-term care policy typically provides all the following levels of care except ----------- Correct Answer ---------- acute care
which of these would not be considered a presumptive disability? ----------- Correct Answer ---------- loss of a leg OR arm
if an agent is believed to be causing considerable harm, the superintendent ----------- Correct Answer ---------- may issue a cease and desist order against the agent
A provision in a whole life policy that allows a policyowner to terminate the policy in return for a reduced paid-up policy of the same type is called a(n)
insuring clause
payor provision
reinstatement provision
nonforfeiture provision ----------- Correct Answer ---------- nonforfeiture provision
The superintendent determines an examination of an insurers books and records is necessary. after receiving the notification, the insurer ----------- Correct Answer ---------- must not impede the examination
Jennifer is required to pay a specific sum out of pocket before any benefits are paid in a year. Her health policy most likely contains a(n) ----------- Correct Answer ---------- deductible
the legal action provision in a health contract is limited to no more than __ years ----------
- Correct Answer ---------- 5
when a preferred provider organization insured goes out of network, which of the following actions occur? ----------- Correct Answer ---------- the insurer will pay a reduced amount
what is the primary factor that determines the benefits paid under a disability income policy ----------- Correct Answer ---------- wages
a provision that allows a policy owner to withdraw a policy cash value interest free is a -- --------- Correct Answer ---------- partial surrender
- / 3