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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 insurance products will be subject to the regulation on life insurance solicitation?
Decreasing term
Both the principal and interest will be liquidated over a selected period of time.
Which of the following insurance products will be subject to the regulation on life insurance solicitation?
14
2. COBRA applies to employers with at least
Insurance Guaranty Association
Both the principal and interest will be liquidated over a selected period of time.
20 employees.
Rebates are allowed if it's in the best interest of the client.
3. What is the purpose of a conditional receipt?
The policy contains sufficient cash value to cover the cost of insurance.
It is intended to provide coverage on a date earlier than the date of the issuance of the policy.
A person may hold several appointments at one time.
Department of Financial Services
4. All of the following long-term care coverages would allow an insured to receive care at home EXCEPT
Skilled care.
Pay a reduced death benefit
Home health care
The annuitant must be a natural person.
5. What is the main difference between coinsurance and copayments?
Copayment is a set dollar amount.
Funds exceeding the premium paid are taxable as ordinary income.
$5000
Automatic premium loan
6. All of the following are true regarding rebates EXCEPT
Rebates are allowed if it's in the best interest of the client.
8%
50
Insuring clause
7. Which of the following statements is correct?
HMOs may pay for services not covered by Medicare.
65
8%
A person may hold several appointments at one time.
8. Which of the following is a generic consumer publication that explains life insurance in general terms in order to assist the applicant in the decision-making process?
HMOs may pay for services not covered by Medicare.
Buyer's Guide
It is intended to provide coverage on a date earlier than the date of the issuance of the policy.
Rebates are allowed if it's in the best interest of the client.
9. Which of the following does NOT have to be disclosed in a long-term care (LTC) policy?
0%
50/50
The policy contains sufficient cash value to cover the cost of insurance.
The aggregate amount of premiums due
10. Which of the following is true regarding Medicare supplement policies?
The policyholder.
Speaking.
They must be guaranteed renewable.
8%
11. 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?
The policyholder.
Unlimited
0%
25
12. An insured pays a monthly premium of $100 for her health insurance. What would be the duration of the grace period under her policy?
The annuitant must be a natural person.
10 days
Pay a reduced death benefit
Insurance Guaranty Association
13. At what age may an individual make withdrawals from an HSA for nonhealth purposes without being penalized?
8%
65
They can be changed only with the written consent of that beneficiary.
Rebates are allowed if it's in the best interest of the client.
14. If an insurance company makes a statement that its policies are guaranteed by the existence of the Insurance Guaranty Association - that would be considered
An unfair trade practice.
0%
insurer
15.
15. A paid-up nonforfeiture benefit will become effective as specified in the policy - unless the person entitled elects another available option within how many days after the due date of the premium in default?
60
The capital amount in a lump sum
Rebates are allowed if it's in the best interest of the client.
50/50
16. Which of the following is NOT the consideration in a policy?
The insurer can increase the policy premium on an individual basis.
The application given to a prospective insured
The capital amount in a lump sum
Replacement regulations will not apply in this situation.
17. 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?
14
Control health insurance claims expenses.
MEWAs are groups of at least 3 employers.
It has the highest amount of insurance protection.
18. 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?
The Florida Replacement Rule
10 days
If the employee enrolls within a certain time period
60
19. Which of the following types of LTC is NOT provided in an institutional setting?
36 months
Home health care
Which of the following insurance products will be subject to the regulation on life insurance solicitation?
The beneficiary would receive $25000 if it was determined that the insured qualified for the policy applied for.
20. What is the purpose of a disclosure statement in life insurance policies?
An insured borrows money from the bank and makes a collateral assignment of a part of the death benefit to secure the loan.
8%
To explain features and benefits of a proposed policy to the consumer
Unlimited
21. Which of the following is true regarding the agent's appointments?
Increases annually.
60
By their members - authorized insurers
A person may hold several appointments at one time.
22. All of the following are requirements for life insurance illustrations EXCEPT
They must be part of the contract.
Decreasing term
At the time of application or upon delivery of the policy
Every company is required to establish marketing procedures.
23. An insured has a primary group health plan and an excess plan - each covering losses up to $10000. The insured suffered a loss of $15000. Disregarding any copayments or deductibles - how much will the excess plan pay?
A benefit for each day the insured is in a hospital.
$5000
Automatic premium loan
The policyholder.
24. All of the following would be legal activities for an HMO to engage in EXCEPT
Health insurance solicitation.
65
A benefit for each day the insured is in a hospital.
8%
25. If an employer decides to change its life insurance policy to a similar one with a different insurer - which of the following describes the extent that replacement regulations will be exercised?
0%
Replacement regulations will not apply in this situation.
When an insurer's underwriter approves coverage
Every company is required to establish marketing procedures.
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