Quiz yourself by thinking what should be in
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on it to display the answer.
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| show | Group disability income
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| show | Continuation of group health
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| show | Time of payment claims
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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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| What Is the maximum period of time during which an insurer may contest fraudulent misstatements made in a health insurance application? | show 🗑
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| show 🗑
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| show | They must be a part of the contract
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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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| A medical insurance plan in which the health care provider is paid a regular fixed amount for providing care to the insured and does not receive additional amounts of compensation dependent upon the procedure performed is called | show 🗑
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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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| HMOs that compensate their health care providers based upon a predetermined payment amount per enrollee for a specified period of time, in exchange for providing a defended set of covered health care services, regardless of the amount provided, are said t | show 🗑
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| show | Prior authorization
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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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| Which of the following is considered a presumptive disability under disability income policy? | show 🗑
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| Which of the following is another term for the accumulation period of an annuity? | show 🗑
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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 | It has the highest amount of insurance protection
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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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| A medical insurance plan in which the health care provider is paid a regular fixed amount for providing care to the insured and does not receive additional amounts of compensation dependent upon the procedure performed is called | show 🗑
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| show | Economic inflation
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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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| HMOs that compensate their health care providers based upon a predetermined payment amount per enrollee for a specified period of time, in exchange for providing a defended set of covered health care services, regardless of the amount provided, are said t | show 🗑
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| show | Prior authorization
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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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| show | 36 months
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| Which of the following is considered a presumptive disability under disability income policy? | show 🗑
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| Which of the following is another term for the accumulation period of an annuity? | show 🗑
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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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| show | Automatic enrollment
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| show | Gross premium
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| show | Conformity and state statutes provisions
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| Shortly after a replacement transaction on a Medicare supplement policy, the insured decided to cancel the policy, but is unsure whether the free-look provision applies. The insured could find that information in the | show 🗑
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| show | Seek higher returns
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| Which of the following is the most precise synonym for an "authorized" insurer? | show 🗑
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| Insurer X charges the premium from its insured customers, passing on operating expenses for the company. The operating expenses plus premium equals the "gross" premium. What is another name for the operating cost for insurer X? | show 🗑
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| show | Annual cost of mortality plus expenses
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| show | Policy holder to renew the policy to a stated age, with the company having the right to increase premiums on the entire class
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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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| show | The fair credit reporting act
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| Which universal life option has a gradually increasing cash value and a level death benefit? | show 🗑
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| show | The insurer may terminate the contract only at renewal for certain conditions
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| show | Period of time
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| show | Within 15 days
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| show | The insureds medical history
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| In disability income insurance, the own occupation definition of disability applies | show 🗑
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| show | Increasing term
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| show | 50 or more
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| Which of the following is NOT true regarding partial disability? | show 🗑
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| Al of the following would be a reason that an insurance company's name could be disapproved for use in the state of Alabama EXCEPT | show 🗑
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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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| show | Need is predicted using the number of years until insureds retirement
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| show | Reimbursement
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| show | 12 months
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| show | 65%
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| show | Low maximum limits
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| show | 6 months
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| show | At the time of initial payout
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| Which of the following statements is true concerning employer group dental plans? | show 🗑
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| show | Driving recklessly
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| show | Decreasing term
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| show | Policy delivery
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| Roger writes his company and notifies them that he has become disabled. What provision states that claims must be paid immediately upon written proof of loss? | show 🗑
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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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| show | 2 years
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| What is the benefit of experience rating? | show 🗑
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| show | The capital amount in a lump sum
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| What would a physician utilize if he/she wanted to know if a treatment is covered under an insureds plan and at what rate it will be paid? | show 🗑
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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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| show | Those who have been insured under the plan for at least 5 years
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| show | Routine dental care
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| show 🗑
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| show | $50,000
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| Long-term care policies MUST cover | show 🗑
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| Rod wants to lay his initial life insurance premium in advance. Which of the following best describes his situation? | show 🗑
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| All of the following are general requirements of a qualified plan EXCEPT | show 🗑
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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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| show | Annually renewable term
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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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| An insurer wants to obtain information from investigators regarding an applicant for insurance. What must the insurer do in order to legally acquire this information? | show 🗑
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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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| All of the following statements concerning the use of life insurance as an executive bonus are correct EXCEPT | show 🗑
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| What is the penalty tax for non qualified distributions from a medical savings account? | show 🗑
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| show | 10 days
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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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| show | 3%
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| show | Universal life
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| show | Dividend amounts are guaranteed in the policy
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| show | $5,000
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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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| Under uniform required provisions, proof of loss under a health insurance policy normally should be filed within | show 🗑
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| show | $50,000
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| Can an individual who belongs to a POS plan use an out-of-network physician? | show 🗑
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| show | To purchase a smaller amount of the same type of insurance as the original policy
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| Which of the following is NOT the purpose of HIPAA? | show 🗑
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| Issue age policy premiums increase in response to which of the following factors? | show 🗑
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| How long will the beneficiary receive payments under the single life settlement option? | show 🗑
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| show | Occasional nursing or rehabilitation care
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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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| Which of the following statements is NOT correct concerning the COBRA act of 1985? | show 🗑
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| How are contributions to a tax sheltered annuity treated with regards to taxation? | show 🗑
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| show | An insurer with a home office in another state
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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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| A participant contributes more than the maximum amount to her Roth IRA. what kind of tax penalty will he or she have to pay | show 🗑
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| show | Cash refund annuity
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| Which concept is associated with "exclusion ratio"? | show 🗑
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| show | Never
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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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| show | Temporary
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| show | Residual disability
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| show | 30 days
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| Which of the following is not true of the disability buy-sell coverage? | show 🗑
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| Which of the following dental insurance categories would cover the fillings of cavities? | show 🗑
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| show | Death benefit
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| show | Integrated dental plan
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| All of the following are correct about the required provisions of a health insurance policy EXCEPT | show 🗑
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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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| To be eligible under HIPAA regulations, for how long should an individual converting to an individual health plan have been cover under the previous group plan? | show 🗑
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| show | $50
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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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| show | Universal life
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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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| In a noncontributory health insurance plan, what percentage of eligible employees must participate in the plan before the plan can become effective? | show 🗑
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| show | Increases annually
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| According to the law of agency, a principal is represented by an | show 🗑
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| show | It determines if the insurance policy is an MEC
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| in a survivorship life policy, when does the insurer pay the death benefit? | show 🗑
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| show | The Medicare part A deductible
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| Every small employer carrier must actively offer to small employers how many health benefit plans? | show 🗑
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| show | Maximums
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| show | Decreasing term
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| show | The performance of the policy portfolio
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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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Created by:
Jenhickson