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10 Quiz Set/s
Health Insurance 101
10 Quiz Sets
Health Insurance 101
Life and Health Insurance Exam 2
Can you answer
25
questions in 10 minutes?
Life and Health Insurance Exam 2 |
1. Which of the following long-term care benefits would provide coverage for care for functionally impaired adults on a less than 24-hour basis?
Which of the following insurance products will be subject to the regulation on life insurance solicitation?
Managed Care
12 months.
Adult day care
2. Which of the following is NOT a feature of a guaranteed renewable provision?
Pay a reduced death benefit
50/50
The insurer can increase the policy premium on an individual basis.
They must be part of the contract.
3. 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?
Funds exceeding the premium paid are taxable as ordinary income.
Adult day care
Insurance
The capital amount in a lump sum
4. Which of the following does NOT have to be disclosed in a long-term care (LTC) policy?
The aggregate amount of premiums due
The cost of coverage is a deductible expense by the employer.
An insured borrows money from the bank and makes a collateral assignment of a part of the death benefit to secure the loan.
65
5. What is the purpose of a conditional receipt?
Outline of Coverage
It is intended to provide coverage on a date earlier than the date of the issuance of the policy.
NAIC
The capital amount in a lump sum
6. A long-term care insurance shopper's guide must be provided in the format developed by which of the following?
NAIC
15.
A benefit for each day the insured is in a hospital.
Unlimited
7. In forming an insurance contract - when does acceptance usually occur?
Every company is required to establish marketing procedures.
At the time of application or upon delivery of the policy
When an insurer's underwriter approves coverage
The Guaranty Association.
8. 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?
Home health care
25
14
Replacement regulations will not apply in this situation.
9. All of the following would be legal activities for an HMO to engage in EXCEPT
They can be changed only with the written consent of that beneficiary.
Annually Renewable Term.
Health insurance solicitation.
insurer
10. Which of the following insurance providers must be nonprofit and sell insurance only to its members?
Insurance
Buyer's Guide
Every company is required to establish marketing procedures.
Fraternal
11. At what age may an individual make withdrawals from an HSA for nonhealth purposes without being penalized?
To explain features and benefits of a proposed policy to the consumer
65
If the employee enrolls within a certain time period
The aggregate amount of premiums due
12. COBRA applies to employers with at least
20 employees.
36 months
Speaking.
An insured borrows money from the bank and makes a collateral assignment of a part of the death benefit to secure the loan.
13. How are state Insurance Guaranty Associations funded?
By their members - authorized insurers
At the time of application or upon delivery of the policy
The application given to a prospective insured
The insurer can increase the policy premium on an individual basis.
14. Which document helps ensure that full and fair disclosure is provided to the recipient of a policy?
25
They must be guaranteed renewable.
Outline of Coverage
60
15. Which of the following statements is TRUE concerning irrevocable beneficiaries?
They can be changed only with the written consent of that beneficiary.
Pay a reduced death benefit
A person may hold several appointments at one time.
25
16. Which provision concerns the insured's duty to provide the insurer with reasonable notice in the event of a loss?
Notice of Claim
115% of the regular group rate.
Funds exceeding the premium paid are taxable as ordinary income.
They can be changed only with the written consent of that beneficiary.
17. 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?
Control health insurance claims expenses.
Unlimited
insurer
Health insurance solicitation.
18. 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
The policyholder.
Every company is required to establish marketing procedures.
50/50
14
19. Which of the following is true regarding Medicare supplement policies?
Decreasing term
Managed Care
12 months.
They must be guaranteed renewable.
20. In life policies issued in this state - insurers are permitted to charge interest during the policy grace period for the number of days elapsing before the premium is paid. What is the maximum annual interest rate?
Notice of Claim
8%
Insuring clause
115% of the regular group rate.
21. Which of the following insurance products will be subject to the regulation on life insurance solicitation?
Insurance
Pay a reduced death benefit
Automatic premium loan
Which of the following insurance products will be subject to the regulation on life insurance solicitation?
22. A customer with an existing life insurance contract is considering exchanging it for a newer contract. What Florida insurance regulation should the customer's insurance agent consult?
Managed Care
Insurance
By their members - authorized insurers
The Florida Replacement Rule
23. An employer offers group life insurance to its employees for the amount of $10000. Which of the following is true?
The cost of coverage is a deductible expense by the employer.
An insured borrows money from the bank and makes a collateral assignment of a part of the death benefit to secure the loan.
20 employees.
Adult day care
24. 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?
Fraternal
The person may not be declined for medical coverage solely based on HIV status.
Every company is required to establish marketing procedures.
It has the highest amount of insurance protection.
25. All of the following are examples of third-party ownership of a life insurance policy EXCEPT
To explain features and benefits of a proposed policy to the consumer
Dividend amounts are guaranteed in the policy.
50
An insured borrows money from the bank and makes a collateral assignment of a part of the death benefit to secure the loan.
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