1. A __________ is the amount that an insured person is expected to pay for a medical expense at the time of the visit.

2. Which of the following is a rider that allows a terminally ill person to access at least a portion of the death benefit proceeds prior to death?

3. Which of the following needs to have an insurable interest for an underwriter to issue an insurance policy?

4. Which type of life insurance is considered to be more risky based on its investment component?

5. What type of notice is used to show all of the services or supplies that were billed to Medicare during a 3-month period, what Medicare paid, and what the patient may owe the provider?

6. John, who had a life insurance policy with a death benefit, died on August 31st, after a long bout with cancer. He had been hospitalized for a month before his death. His wife contacted the insurance company to file her claim for the death benefit on September 5th, after John's burial, and after she had time to collect her emotions to deal with her personal loss. The insurance agent filed the papers to process the claim with his supervisor, and the death benefit was settled on October 30th. Were any laws violated in this scenario?

7. As a professional surgeon, which type of disability coverage would offer the most liberal definition of benefit triggers for the policy holder in terms of benefit receipt if the insured were to break his or her hand?

8. The "deductible" in a long-term care insurance policy is referred to as the __________.

9. The components of a long-term care insurance policy include all of the following EXCEPT:

10. Which of the following is not a form of health insurance?

I. Dental insurance
II. Vision insurance
III. Disability insurance
IV. Long-term care insurance

 

11. When constructing a major medical insurance policy, several criteria must be established, including:

12. All of the following can be considered life-changing events that could result in a change in the amount of life insurance coverage needed EXCEPT:

I. Birth of a child
II. Divorce
III. Marriage
IV. Change in job title
 

13. All of the following are parties to a life insurance contract EXCEPT:

1. Insurer
2. Underwriter
3. Beneficiary
4. Owner
5. Insured

14. A business client is looking for ways to decrease its monthly premiums. To get down to the premium level sought after by the company, the agent realizes they have to go to a high deductible health plan. As part of your advice to the business, what should you include in your discussion?

15. Life insurance underwriters look at a variety of factors when determining the acceptance of an applicant. These factors can include:

16. Social Security should be considered one's primary source of disability income coverage.

17. On a health insurance claim form, the exact procedures that were performed for the insured are represented by standard codes that are referred to as __________.

18. A beneficiary on a life insurance policy will receive what value upon the death of the insured?

19. Term life insurance should always be used in buy / sell agreements.

20. Which of the following will have to meet an insurable interest requirement in order for a policy to issue?

21. A(n) __________ in an insurance contract is a statement by the issuing insurance company that sets out the essential element of insurance - to pay for losses covered in the policy.

22. Jack and his wife Lyn just purchased a home with a 15-year mortgage. Wanting to make sure that Lyn would be able to pay off the mortgage balance in the event of Jack's death, Jack had a "temporary" need for life insurance. What type of policy should Jack purchase?

23. Permanent life insurance policies always have two components. What are they?

I. Death benefit
II. Cash value
III. Living Benefits
IV. Conversion Benefit

 

24. The insured party has no part in determining the wording of an insurance contract. In this respect, insurance contracts are considered to be __________.

25. What is the most common component in all life insurance policies?