exam fx

¡Supera tus tareas y exámenes ahora con Quizwiz!

policy loan requests may be deferred for up to

6 months

What did medicare+choice plans use to be called

Medicare advantage plans

Only the agent is involved in completing the agent's report. The agent's statement is

Not included in the "entire contract".

An individual receives a lump-sum inheritance. He'd like to use the money to create a lifetime income since he'll be retiring soon. He purschase an annuity and wishes to receive payments beginning in 2 months. What did he buy?

Single premium immediate annuity

The family term rider incorporates

Spouse term and children's term

All of the following are characteristics of group health insurance plans except.

The parties that hold a group health insurance contract are the employees and the employer

what is the purpose of a benefit schedule

To state what and how much is covered in the plan.

Which of the following meets the insured's personal needs, and is provided by nonmedical personnel?

custodial care

all of the following health insurance disability benefits are income tax free EXCEPT

employer-paid group disability

A husband and wife both incur expenses that are attributed to a single major medical insurance deductible. Which type of policy do they have?

family

A representation in an insurance contract qualifies as an

implied warranty

What is the purpose of coordination of benefits

prevent overinsurnace

which of the following is a daily nursing and rehabilitative care that can only be provided by medical professional

skilled care

An insured purchased a health insurance policy with a renewability clause that states the policy is "guaranteed renewable". This means that as long as the required premiums are paid, the policy will continue until the insured

reaches age 65

If a basic medical insurance plan's benefits are exhausted, what type of plan will then begin covering those losses

supplementary major medical

what is the only difference between blanket insurance and group health insurance

the insured members are not named

An employee that becomes ineligible for group coverage because of termination of employment or change in status, must exercise extension of benefits under COBRA

within 60 days

A retail shop owner is insured under a business overhead expense policy that pays a maximum monthly benefit of $2,500. His actual monthly expenses are $3,000. If the owner becomes disabled, the monthly benefit payable under his policy will be

2500

In order to be financially solvent, an insurer must accomplish all of the following except:

Contribute a specific amount of capital reserves to the state

Which of the following is the primary source of information that an insurer uses to evaluate an insured's risk for life insurance?

Insurance application.

Contracts of adhesion:

a legal agreement that is drafted by one party, but not the other

Basic coverages provided by an individual medical expense policy include

hospital expense, surgical expense, and medical expense

An Insured's Hospital Policy States That it Will Pay Him a Flat Fee of $75 per day for each day he is in the hospital. The Policy Pays Benefits on What Basis?

indemnity

An employee is covered under COBRA. His previous premium payment was $100 per month. His employer now collects $102 each month. Why does the employer collect an extra $2?

to cover administrative costs

when may hiv related test results be provided to the mib

when given authorization/consent by the patient

Elaine's basic hospital expense policy has a 500$ per day limit for room and board in a hospital for a maximum of 5 days. Elaine got sick and had to spend 3 days in the hospital at 650$ a day. How much will Elaine have to pay to cover the rest of her room and board charges?

450

Which of the Following is Provided by Skilled Medical Personnel to those who need occasional assistance or rehabilitation?

intermediate care

A life insurance policy qualifies a Modified Endowment Contract (MEC) if the amount of premium paid exceeds the amount that would have provided paid-up insurance in how many years?

7 years

Which of the following describes the relationship between the principal sum and a capital sum?

A capital sum is a percentage of the principal sum.

Optional Renewability policies allow the insurer to cancel the policy when?

any time

what is it called when a doctor accepts the medicare approved amount

assignment

The Common Disaster clause provides that if both the insured and the named beneficiary were to die in a common accident, which of the following is true?

The estate taxes in the beneficiary's estate may be reduced


Conjuntos de estudio relacionados

Chapter 15: Care of the Newborn and Infant

View Set

Texas Principles of Real Estate 1: Chapter 3 Quiz

View Set

CPIM Part 2: Execution and Control of Operations

View Set

98-364 Lesson 2: Creating Database Objects

View Set

(PrepU) Chapter 26: Assessing Male Genitalia and Rectum

View Set

Series 6 - Chapter 5 (Some practice Qs)

View Set