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Life License-Test#2
Part 5
| Question | Answer |
|---|---|
| 121. how much continuing education is a new agent who is both life insurance licensed and property and casualty licensed required to complete? | 24 hours prior to license renewal for either license |
| 122. a form of rest or relief offered to family members who are caring for a person who requires continual care is: | respite care |
| 123. currently insured status is achieved in which of the following ways? | accumulated 6 our of the last 13 quarters |
| 124. all of following statements about contingent beneficiaries are true, except: | the contingent beneficiary shares death proceeds equally with the primary beneficiary |
| 125. the insured is totally and permanently disabled. The insured's policy continues in force without the payment of a premium because the policy contains a: | waiver of premium provision |
| 126. fully insured status is achieved in which of following ways? | accumulated 40 quarters |
| 127. definition of incontestability? | an insurer is prevented from voiding a policy for misstatements after two years |
| 128. in event of an accidental death, the principal sum in a disability policy will be paid: | in one lump sum |
| 129. which of following statements about the HICAP (Health Insurance Counseling Advocacy Program) program is false? | provides assistance for a fee based upon ability to pay |
| 130. a measure for rating an individual's need for LTC benefits is called: | activities of daily living |
| 131. a health insurance deductible is: | the amt of covered expense that the insured pays before the insurer pays |
| 132. all are group health underwriting factors, except: | length of the elimination period |
| 133. when terms of a policy are misrepresented by a producer to a client, that producer has committed a: | misdemeanor |
| 134. when a licensed agent submits a renewal app with applicable fee on or before the expiration date: | the agent will be able to operate for up to 60 days after the specified expiration date |
| 135. what must an insurer do who accepts an app from an agent who is not specifically appointed by that insurer and then issues a policy from that app? | forward to the Insurance Commissioner a Notice of Appointment within 14 days of receipt of application |
| 136. common life insurance policy riders include all of the following, except: | extended term |
| 137. a $50,000 whole life policy with a cash value of $10,000 has been in force for 11 yrs. The policy owner is unable to continue the premium payments. Which of following describes the Reduced Paid-Up non-forfeiture option? | the case value is used to purchase a $20,000 paid-up policy |
| 138. what would we call a representation which fails to correspond with its stipulations or assertions? | false |
| 139. the adjustments that an insurer makes in a cash value account in a universal life policy each time a payment is made includes all of the following, except: | subtract the policy surrender charges |
| 140. under Social Security, the definition of disability is the inability to engage in: | any substantial gainful activity |
| 141. all are group disability income underwriting factors, except: | location of the insured business |
| 142. what maximum time period does the insurer have to pay claims after adequate proof of loss has been received? | 30 days |
| 143. the insured's policy has a deductible that is applied between the exhaustion of basic plan limits and the commencement of excess coverage. This is called a: | corridor deductible |
| 144. what makes up the entire contract in a life insurance policy? | the policy, and when attached, the application. |
| 145. what maximum time period does the insurer have to accept or deny claims after adequate proof of loss has been received? | 40 days |
| 146. when does the license of a life agent become inactive? | when the agent is not currently appointed by an insurer, but renewal fees are paid and continuing education requirements have been met |
| 147. while an insurer is paying the premium for a life insurance policy under the waiver of premium rider: | the policy remains in full force in every respect |
| 148. Medicare Part A provides coverage for all of following, except: | physicians services |
| 149. which of following is not allowed by code in connection with the sale of Medicare Supplement policies? | offer only broader plans |
| 150. Part I of the Workers' Compensation Policy covers payments the employer (insured) must pay: | Under Workers' Compensation law |
Created by:
jennyhqs2
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