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Health Insurance 101
Life and Health Insurance Exam 2
Answer 25 questions in 10 minutes.

Life and Health Insurance Exam 2 |


1. An insured pays a monthly premium of $100 for her health insurance. What would be the duration of the grace period under her policy?






2. Which of the following insurance products will be subject to the regulation on life insurance solicitation?






3. All other factors being equal - the least expensive first-year premium payment is found in






4. A corporation can be considered a "small group employer" if it has at least one and a maximum of how many employees?






5. Which of the following is NOT the consideration in a policy?






6. Which is TRUE about the cash surrender nonforfeiture option?






7. Ray has an individual major medical policy that requires a coinsurance payment. Ray very rarely visits his physician and would prefer to pay the lowest premium possible. Which coinsurance arrangement would be best for Ray?






8. Which of the following does NOT have to be disclosed in a long-term care (LTC) policy?






9. Which of the following entities protects policyowners - insureds - and beneficiaries under insurance contracts when insurers fail to perform contractual obligations due to financial impairment?






10. In forming an insurance contract - when does acceptance usually occur?






11. A Return of Premium term life policy is written as what type of term coverage?






12. 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?






13. Which provision of a life insurance policy states the insurer's duty to pay benefits upon the death of the insured - and to whom the benefits will be paid?






14. An agent's appointment has been denied. Which of the following is true?






15. When a person applies for Medicare supplement insurance - whose responsibility is it to confirm that the applicant does not already have accident or sickness insurance in force?






16. At what age may an individual make withdrawals from an HSA for nonhealth purposes without being penalized?






17. The Florida Health Insurance Coverage Continuation Act requires insurers that sell health plans to small employers to offer in those plans a right to elect to continue coverage - without providing evidence of insurability - to employees who lose their coverage and are unable to replace it. The premium rate for this coverage may NOT exceed






18. The president of a company is starting an annuity and decides that his corporation will be the annuitant. Which of the following statements is true?






19. A long-term care insurance shopper's guide must be provided in the format developed by which of the following?






20. A person insured under a group life insurance policy can make an assignment of all or any part of the incidents of ownership conferred on the insured by the policy or by law - to any of the following EXCEPT






21. When does Medicare cover nursing home care?






22. Which types of insurance companies marketing long-term care insurance coverage must establish procedures to assure that any comparison of policies by its agents will be fair and accurate?






23. All of the following statements concerning dividends are true EXCEPT






24. All of the following entities regulate variable life policies EXCEPT






25. What is the period of coverage for events such as death or divorce under COBRA?





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