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Quiz yourself by thinking what should be in each of the black spaces below before clicking on it to display the answer.
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Question
Answer
In which of the following health plans are benefit payments attributed to employer contributions taxable to the employee?   show
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show Continuation of group health  
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Which provision states that the insurance company must pay medical expense claims immediately?   show
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show Group coverage must be extended to terminated employees up to a certain period of time at the former employees expense  
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An insured has a major medical policy with a $500 deductible and a coinsurance clause of 80/20. If he incurs medical expenses of $4,000, the insurer would pay   show
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show SEPs are suitable for large companies  
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show Death of a spouse  
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show Alabama health plan  
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In the event of loss, business overhead insurance will pay for   show
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Which of the following policies typically combine insurance and savings with the date of maturity earlier than age 100 at great expense to the policyholder?   show
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show Medical reimbursement benefit  
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The insured had his wife named as the beneficiary of his life insurance policy. To ensure that his wife had income for the life after the insurers death, he chose the life income settlement option. The amount of payments will be determined by taking into   show
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show The agent accepts a premium payment after the end of the grace period  
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show It has the highest amount of insurance protection  
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show  
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show As long as the policy is in force  
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show They must be a part of the contract  
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show Diagnostic and preventive care  
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show Prepaid plan  
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Which of the following would most directly affect the purchasing power of benefits paid on a fixed annuity   show
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What is the purpose of the insurance guaranty association?   show
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When the insured initials the cancellation of a policy, the unearned premium will be refunded on a   show
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show Capitation  
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An insured is scheduled to have two cavities filled. He knows in advance which benefits will be paid for the procedure. Which clause is responsible for the advanced notification?   show
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show Policyowner  
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What is the period of coverage for events such as death or divorce under COBRA?   show
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show Loss of two limbs  
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show Pay-in period  
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show It has a tax benefit for both employer and employee  
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show Adhesion  
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show The insured  
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A business entity acting as an insurance producer is required to do all of the following EXCEPT   show
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show Automatic enrollment  
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what is the benefit of choosing extended term as a nonforfeiture option   show
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show  
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All of the following are requirements for life insurance illustrations EXCEPT   show
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What is an important feature of a dental expense insurance plan that is NOT typically found in a medical expense insurance plan?   show
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show Prepaid plan  
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Which of the following would most directly affect the purchasing power of benefits paid on a fixed annuity   show
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show To protect policy owners against insurer insolvency  
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When the insured initials the cancellation of a policy, the unearned premium will be refunded on a   show
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show Capitation  
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An insured is scheduled to have two cavities filled. He knows in advance which benefits will be paid for the procedure. Which clause is responsible for the advanced notification?   show
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Which of the following has the right to convert the existing term coverage to permanent insurance?   show
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What is the period of coverage for events such as death or divorce under COBRA?   show
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show Loss of two limbs  
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show Pay-in period  
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show It has a tax benefit for both employer and employee  
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An insurer has made all the decisions regarding the provisions included in the insureds policy. The insured finds an objectionable provision and wants to negotiate it with the insurer but is not allowed to do so. Her only option are to reject the policy o   show
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show The insured  
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show Be a publically owned company  
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Which of the following is NOT an enrollment period for Medicare part A applicants?   show
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show Gross premium  
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Most insurers issue health insurance policies for delivery in many states. Because each state regulates and mandates the requirement for policies delivered to their residents, instead of having a policy from each state, the insurer attaches   show
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show Notice regarding replacement  
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Equality indexed annuities   show
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show Admitted  
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show Expense loading  
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show Annual cost of mortality plus expenses  
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A guaranteed renewable health insurance policy allows   show
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Which of the following is NOT true regarding a flexible spending account?   show
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An employee will be taxed on the cost of group life insurance paid by the employer if the amount of coverage exceeds   show
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The law that protects consumers against the circulation of inaccurate or obsolete information is known as   show
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show Option A  
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show The insurer may terminate the contract only at renewal for certain conditions  
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Which renewability provision are you most likely to see on a travel accident policy?   show
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How long after receiving notice of claims does an insurer have to furnish proof of loss forms?   show
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show The insureds medical history  
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show For the first 2 years of disability  
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show Increasing term  
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show 50 or more  
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show This is a form of insurance that covers part-time workers  
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show The name is too long to be printed on a single line of the policy in the required type size  
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show Cost of living (COLA)  
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show $2,500  
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show Premiums are not tax deductible, and benefits are not tax deductible  
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Which of the following is NOT true regarding the needs approach method determining the value of an individuals life?   show
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show Reimbursement  
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When a group health insurance plan is terminated, how long is an extension of benefits provided for any totally disabled employee or dependent?   show
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What is the maximum amount that can be contributed to an MSA of the high-deductible the plan for individuals?   show
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show Low maximum limits  
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What is the waiting period on a waiver of premium rider in life insurance?   show
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With respect to a variable annuity, when is the number of annuity units determined?   show
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Which of the following statements is true concerning employer group dental plans?   show
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Which of the following is considered to be a morale hazard?   show
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show Decreasing term  
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show Policy delivery  
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show Time of payment of claims  
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An agent accepts the premium payment 35 days after it is due, telling the insured that there will be no problem keeping the policy in force. This is an example of what type of agent authority?   show
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An insured was involved in an accident and could not preform her current job for 3 years. If the insured could reasonably preform another job utilizing similar skills after 2 month, for how long would she be receiving benefits under an "own occupation " d   show
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What is the benefit of experience rating?   show
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An insured loses her left arm in an accident that is covered by her accidental death and dismemberment policy. What kind of benefit will she most likely receive from this policy?   show
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show Prospective review  
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An insurer invests the money it receives from premiums paid by the insureds. Which of the following is TRUE regarding the interest earned on these investments?   show
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Which of the following employees insured under group life plan would be allowed to convert to individual of some coverage once the plan is terminated?   show
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Which of the following is NOT covered under part B of Medicare policy?   show
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show As long as the policy is in force  
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show $50,000  
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Long-term care policies MUST cover   show
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show Rod can pay his premium as early as he wants, even with his application  
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show The plans must provide an offset for social security benefits  
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show The insured may choose to convert to term or permanent coverage  
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Which of the following is NOT true of basic medical expense plans?   show
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show Until the beneficiarys death  
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show Present earnings and earnings prior to disability  
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The death protection component of universal life insurance is always   show
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An insureds disability income policy includes an additional monthly benefit rider. For how many years can the insured expect to receive payment from the insurer before social security benefits begin?   show
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show Consideration clause  
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show The type of investment  
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The patient protection and affordable care act includes all of the following provisions EXCEPT   show
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show Pay or benefit  
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Which of the following is true regarding a term health policy?   show
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show Present the insured with a disclosure authorization notice  
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The full premium was submitted with the application for life insurance, and the policy was issued two weeks later as requested. When does the policy coverage become effective?   show
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show What requirements the producer needed to meet to obtain the insurance license  
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show The policy is owned by the company  
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What is the penalty tax for non qualified distributions from a medical savings account?   show
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An insured pays a monthly premium of $100 for health insurance. What would the duration of the grace period under her policy?   show
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Which of the following would NOT cause the death benefit to increase?   show
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show Premiums are not elevated  
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Under SIMPLE plans, participating employees may defer up to a specified amount each year , and the employer then makes a matching contribution up to an amount equal to what percent of the employees annual wages?   show
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show Universal life  
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All of the following statements concerning dividends are true EXCEPT   show
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An insured has a primary group health plan and an excess plan, each covering losses up to $10,000. The insured suffered a loss of $15,000. Disregarding any copayments or deductibles, how much will the excess plan pay?   show
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What type of annuity guarantees to pay an income to the annuitant each year as long as he lives, upon death, the annuity will refund the remaining payments to a beneficiary?   show
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show 90 days  
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An insured owns a $50,000 whole life policy. At the age 47, the insured decides to cancel his policy and exercise the extended term option for the policy's cash value, which is currently $20,000. What would be the face amount of the new term policy?   show
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Can an individual who belongs to a POS plan use an out-of-network physician?   show
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The paid up addition option uses the dividend   show
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Which of the following is NOT the purpose of HIPAA?   show
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show Increased benefits  
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How long will the beneficiary receive payments under the single life settlement option?   show
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In long-term care insurance, what type of care is provided with intermediate care?   show
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show Within 90 days or as soon as reasonably possible but not to exceed one year  
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An underwriter may reject an application for health insurance if the rejection is based upon which of the following?   show
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show It requires all employers, regardless of the number of age or employees, to provide extended group health coverage  
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How are contributions to a tax sheltered annuity treated with regards to taxation?   show
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What is a foreign insurer?   show
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Which of the following is NOT true regarding equality indexed annuities?   show
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show None  
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show 6%  
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show Cash refund annuity  
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show Annuities payments  
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When may an insurer require an insured to provide generic information?   show
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Which type of Medicare policy requires insureds to use specific healthcare providers and hospitals (network providers), EXCEPT in emergency situations?   show
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An insurance entity or licensee can not pay a commission or fee to a person if the persons license is classified as one of the following except   show
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show Residual disability  
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What is the free look period for Medicare supplement policies?   show
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show Benefits are considered taxable income to the business  
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Which of the following dental insurance categories would cover the fillings of cavities?   show
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Which component increases in the increasing term insurance?   show
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The type of dental plan which is incorporated into a major medical expense plan is a/an   show
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show A reinstated policy provides immediate coverage for an illness  
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show The cash value available to the policy owner  
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An insured receives an annual life insurance dividend check. What term best describes this arrangement?   show
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show 18 months  
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An insurance producer who is late in filing an application for license renewal will be charged a fee of   show
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show The difference between the contracted interest rate and the rate at surrender  
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When can a long-term care policy deny a claim for losses incurred because of a pre-existing condition?   show
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Which type of insurance policy allows the policyowner to pay more or less than the planned premium?   show
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show Basic medical expense benefits are provided in a single package  
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show When the insured reaches age 100  
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show 100%  
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Annually renewable term policies provide a level death benefit for a premium that   show
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show Agent  
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show It determines if the insurance policy is an MEC  
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show Upon the last death (Second to die)  
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Which of the following is NOT covered under plan A medigap insurance?   show
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Every small employer carrier must actively offer to small employers how many health benefit plans?   show
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Maximum benefits for a major medical plan are usually lifetime   show
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Which of the following types of insurance policies is most commonly used in credit life insurance?   show
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Which of the following determines the cash value of a variable life policy?   show
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show Limited policy notice  
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show Cash surrender  
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when an insurer offers services like preadmission testing, second opinions regarding surgery, and preventative care, which term would best apply   show
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Events or conditions that increase the chances of an insured loss occurring are referred to as   show
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An insurance policy that only requires a payment of premium at its inception, provides insurance protection for the life of the insured, and matures at the insureds age 100 is called   show
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A tax sheltered annuity is a special tax favored retirement plan available to   show
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