pg. 1
UTAH LIFE AND HEALTH INSURANCE
PRODUCER EXAM 2024-2025 WITH 200
QUESTIONS AND 100% CORRECT
ANSWERS / STATE OF UTAH LIFE AND
HEALTH PRODUCER EXAM 2024 (NEW!!)
Before using an assumed name in the state of Utah, a producer must notify - ANSWER-the Commissioner
An insurer who is domiciled outside of Utah, but within the US is referred to as a - ANSWER-Foreign insurer
What does Medicare part D cover - ANSWER-prescription drugs
The power given to an individual producer that is not specifically addressed in his/her contract is considered what type of authority? - ANSWER-Implied
False advertising would include - ANSWER-An insurer exaggerating its dividends
At what point may a producer sell insurance for an insurer - ANSWER-after being properly appointed by the insurer
Under group health insurance, a certificate of coverage is issued to the - ANSWER-employee
In an immediate annuity with a single premium, the annuitant typical receives benefits payments within - ANSWER-1 month 1 / 3
pg. 2
What happens when an insurance policy is backdated? - ANSWER-The policy's effective date is earlier than the present
Standard Exclusions found in a life insurance policy - ANSWER-Hazardous occupations Aviation War
Which annuity payout option makes no additional payments regardless of when the annuitant dies? - ANSWER-Life only
In an employer-sponsored contributory group Disability Income plan, the employer pays 60% of the premium and each employee pays 40% of the premium. Any income benefits paid are taxed to the employee at - ANSWER-60% of the benefit
Joanne has a $100,000 whole life policy with an accumulated $25,000 of cash value. She would like to borrow $15,000 against the cash value. Which of the following statements is TRUE? - ANSWER-Net death benefit will be reduced if the loan is not repaid.
What is it called when the provider is paid for each service given in a health care plan? - ANSWER-fee-for-service
When determining whether a pre-existing health condition applies to a new company group health plan, you cannot have more than a ___ day gap without previous health insurance? - ANSWER-63 days
- / 3
pg. 3 An applicant's character and personal habits can be obtained for underwriting purposes from which source? - ANSWER-Investigative consumer report
examples of rebating - ANSWER-Returning premium to a client as an inducement for purchasing a policy Giving something of value to an insured in exchange for their business Offering special dividends
What would be a valid reason why a policy premium would be higher than the standard premium? - ANSWER-The insured does not meet established underwriting requirements
Low frequency diseases can be exclusively covered by what kind of health insurance policies? - ANSWER-Limited policies
If an insured dies during the grace period with no premiums paid - ANSWER-the policy would be payable, minus the premium amount
Loans obtained by a policyowner against the cash value of a life insurance policy - ANSWER-are treated as taxable income
all long-term care policies are - ANSWER-guaranteed renewable
What is not allowed for an insurance company on a health policy that contains a guaranteed renewable premium benefit? - ANSWER-Increase the premiums on an individual basis
The gatekeeper's role when used by an HMO is - ANSWER-obtaining referrals to specialists from primary care physicians
- / 3