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Insurance 1
| Question | Answer |
|---|---|
| Which of the following decisions would a Health Savings Account (HSA) owner NOT be able to make? | The amount contributed by the employer |
| An agent is legally permitted to share his/her commissions | with another licensed agent |
| Pete the agent recently had his license suspended because he was found to be in violation of a state insurance law. Due to this suspension, Pete | may be assessed the administrative costs sustained by the Department |
| Replacement can be BEST described as | exchanging a new policy for one already in force |
| The superintendent determines an examination of an insurer's books and records is necessary. After receiving the notification, the insurer | must not impede the examination |
| An agent's license has been suspended for non-renewal. The agent may apply for reinstatement | within 12 months of the license renewal date |
| An agent's renewal date for his/her license is on or before | the last day of the licensee's birth month |
| How many days is a temporary agent's license valid? | 180 |
| When screening an applicant for HIV, the insurer | may require a blood test for HIV |
| Which of the following is Medicare Part B also known as? | Medical Insurance |
| ______ life is designed to pay the balance of a loan if the insured dies before repayment of the loan. | Credit |
| Which of these is NOT a qualifying event for Medicare? | Falling below the federal poverty level |
| Which of these will typically authorize treatment from a specialist? | Gatekeeper |
| Carole is a licensed agent who lives in Michigan and transacts insurance in Ohio. In Ohio, Carole is considered to be a(n) | nonresident agent |
| The open enrollment period for Medicare Part B is | January 1 through March 31 |
| If an agent is believed to be causing considerable harm, the superintendent | may issue a cease and desist order against the agent |
| Inducement is BEST defined as | offering to buy, sell, give, or allow a prospective insured employment, stock or special favors in exchange for an insurance transaction |
| Insurance agent Kelly offers a prospect a $1,000 shopping card if an insurance policy is purchased through her. What illegal activity is this an example of? | Rebating |
| What is Medicare Part B also known as? | Supplementary medical insurance |
| What type of injury would NOT be covered under a health insurance policy? | Work-Related |
| Who is required to notify the agent in the event of appointment termination? | Insurer |
| Which payment method for a health claim settlement is typically made directly to the provider of the services? | Prepaid |
| An example of a health insuring corporation (HIC) specialty care provider is a(n) | Neurologist |
| Confidentiality of health information (as stated by Ohio HIC laws) applies to information supplied by | both by the covered individual and by providers |
| Advertisements for accident and health policies that ONLY cover a stated illness MUST display a statement that the | policy is limited |