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Life and Health Insurance Exam 2
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Life and Health Insurance Exam 2
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25 Questions

1. Which of the following statements is correct?

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

3. Which of the following is true regarding Medicare supplement policies?

4. At what point must an Outline of Coverage be delivered?

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

6. Under the Physical Exam and Autopsy provision - how many times can an insurer have the insured examined - at its own expense - while a claim is pending?

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

8. Which document helps ensure that full and fair disclosure is provided to the recipient of a policy?

9. Which of the following best describes fixed-period settlement option?

10. The policyowner of a Universal Life policy may skip paying the premium and the policy will not lapse as long as

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

12. Which of the following insurance providers must be nonprofit and sell insurance only to its members?

13. An insured has had a life insurance policy that he purchased 3 years ago when he was 40 years old. He is killed in an automobile accident and it is discovered that he is actually 45 years old - and not 43 - as stated on the application. What will the company do?

14. Which of the following is true regarding health insurance underwriting for a person with HIV?

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

16. When does Medicare cover nursing home care?

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

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

19. Under special circumstances - continuing education requirements may be extended beyond the 2-year period for a maximum period of

20. An agent delivers a life insurance policy to the proposed insured. The insured makes a decision not to accept the policy. The insured may return the policy for a full refund of premium within how many days?

21. Which of the following long-term care benefits would provide coverage for care for functionally impaired adults on a less than 24-hour basis?

22. All of the following are examples of third-party ownership of a life insurance policy EXCEPT

23. What do individuals use to transfer their risk of loss to a larger group?

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

25. 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?

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