click below
click below
Normal Size Small Size show me how
Insurance 7
| Question | Answer |
|---|---|
| Frank is shopping for a disability income policy. Which of the following would have the HIGHEST premium? | 4 day waiting period / 10 year benefit period |
| What is the primary purpose of a rating service company such as A.M Best? | Determine financial strength of an insurance company |
| All of the following are included as part of a contract in the entire contract provision EXCEPT the | changes made by the producer |
| What would be an expense factor in an insurance program? | Mortality costs |
| Under the Consolidated Omnibus Budget Reconciliation Act (COBRA), a terminated employee's benefits must | be the same and the premium cannot exceed 102% |
| A nonparticipating company is sometimes called a(n) | stock insurer |
| Andy the annuitant dies before the annuity start date. Which of the following is a TRUE statement? | Premiums paid plus interest earned is returned to the beneficiary |
| Where would policy proceeds be paid if both the insured and primary beneficiary were killed in the same accident? | contingent beneficiary |
| Which of the following is typically NOT eligible for coverage in a group health policy? | Temporary employee |
| During the accumulation period, who can surrender an annuity? | Policyowner |
| A form of medical health insurance covering the treatment and care of gum disease is called | Dental expense insurance |
| Craig submits a $500 claim for medical expenses. With a past due premium of $100, the insurer pays $400. Which of the Uniform Optional Provisions covers this situation? | Unpaid premium |
| What amount will be paid under a policy where the insured misstated his/her age? | An amount the premium would have purchased at the correct age |