MA State Exam Questions and Answers.
Joe is a Medicare participant who receives his benefits through a Managed Health Care Plan. Which Medicare plan does he have?Part A Part B Part C Part D✓✓Part B
Which of the following is NOT an eligible dependent on an Accident and Health policy?27 year old married child 25 year old married child 19 year old full time student Unmarried disabled child✓✓27 year old married child
Which settlement option pays a stated amount to an annuitant, but no residual value to a beneficiary?Fixed period Interest only Installment refund Life income✓✓Life income
Dorian exercised a nonforfeiture option by using his life policy's cash value to purchase an extended term insurance option. When the term insurance expires, he has the option of resuming the original policy and paying the same premium the coverage can be extended with a lump sum payment all remaining cash values are paid to the policyowner the protection ends✓✓the protection ends
Within how many days must a Traditional IRA be rolled over to another IRA in order to avoid tax consequences?30
45 1 / 4
MA State Exam Questions and Answers.
60
90✓✓60
A health insurance policy where the insurer has the right to terminate the policy for reasons other than the insured's health is called limited renewable conditionally renewable guaranteed renewable conditionally cancelable✓✓conditionally renewable
In order to transact insurance business in Ohio, an insurance agent must be at least 18 years old hold a consultant's license have been regularly employed by an insurer for at least 2 of the previous 3 years be employed by a broker or solicitor✓✓be at least 18 years old
Under Ohio continuation rules, an employer with fewer than 20 employees must allow terminated employees to continue accident and health coverage for at least
- months
- months
12 months 18 months✓✓12 months
Kate has a Major Medical Plan with a 75/25 coinsurance and a deductible of $25. How much will she have to pay if she, not having met any of her deductible, visits the doctor and receives a bill for $125?
$25.00
$50.00
$75.00
$100.00✓✓$50.00 2 / 4
MA State Exam Questions and Answers.
Which of the following BEST describes a conditional insurance contract?A contract that requires certain conditions or acts by the insured individual A contract that has the potential for the unequal exchange of consideration for both parties A contract where one party "adheres" to the terms of the contract A contract where only one party makes any kind of enforceable contract✓✓A contract that requires certain conditions or acts by the insured individual
When a preferred provider organization (PPO) insured goes out-of-network, which of the following actions occur?The insured will pay a reduced amount The benefits are taxable The insured has lower out-of-pocket expenses The insurer will pay a reduced amount✓✓The insurer will pay a reduced amount
Andy the annuitant dies before the annuity start date. Which of the following is a TRUE statement?Principal returned is taxable Benefits are still payable tax-free to the beneficiary Company retains entire cash value Premiums paid plus interest earned is returned to the beneficiary✓✓Premiums paid plus interest earned is returned to the beneficiary
States that have "no loss no gain" laws require a replacing policy to keep the same type of coverage as the policy it replaces not charge a different premium from the policy it replaces pay for half of any ongoing claims under the policy it replaces pay for ongoing claims under the policy it replaces✓✓pay for ongoing claims under the policy it replaces
Converting a group plan to permanent life insurance requires submitting proof of insurability 3 / 4
MA State Exam Questions and Answers.
paying a lower premium converting to term life insurance the conversion being applied for within 31 days of termination✓✓the conversion being applied for within 31 days of termination
A closed network plan offers a a primary physician copay of $25. If a subscriber chooses a primary care physician outside of the network, the subscriber will likely pay $0 $25 100% of the billed amount 100% of the allowed amount✓✓100% of the billed amount
An example of a tax-qualified retirement plan would be a(n) equity compensation plan defined contribution plan executive index plan 1035 exchange plan✓✓defined contribution plan
The premium for a Modified whole life policy is higher than the typical whole life policy during the first few years and then lower than typical for the remainder lower than the typical whole life policy during the first few years and then higher than typical for the remainder normally graded over a period of 20 years level for the first 5 years then decreases for the remainder of the policy✓✓lower than the typical whole life policy during the first few years and then higher than typical for the remainder
An immediate annuity has been purchased with a single premium. When does the annuitant typically begin receiving benefit payments?
- month
- months
- / 4