Insurance exam

An annuity has accumulated the cash value of $70,000, of which $30,000 is from premium payments. The annuitant dies during the accumulation phase. The beneficiary will receive

$70,000

An employee is insured by a group major medical plan that is provided through her employer. The employer contributes 75 percent of the premium and the employee contributes 25 percent. If the insured received a benefit from this policy in the amount of 1000, how much is taxed as income

0

How many days is the free-look period in this state

10

Under the mandatory uniform provision Legal Actions, an insured is prevented from bringing a suit against the insurer to recover on a health policy prior to

60 days after written proof of loss has been submitted

If an insured decides to reduce the coinsurance amount on her major medical insurance, what can the insured expect?

A higher monthly premium

An individual is approaching retirement age and is concerned about having proper coverage should he have to be placed in a long-term care facility. His agent told him that LTC POLICIES would provide necessary coverage at all of the following levels except

Acute

In a variable life insurance policy, all of the following asssts are held in the insurance company's general account except

Cash surrender values

In an employer group heath insurance plan, the covered employee receives

Certificate of insurance

Decreasing term insurance is often used to

Cover a mortgage

A new homebuyer wants to purchase a life insurance policy that would protect his family against losing the home, should he die before the mortgage was paid. The most inexpensive type of policy that would accomplish this need would be

Decreasing term

Guaranteeing future dividends is considered to be an unfair or deceptive act known as

Misrepresentation

An insureds life expectancy is 6 months. How often may a viatuclke settlement provider contact the insured about their health status

Once a month

In order to reinstate a life insurance policy the insured must do all of the following except

Pay next year's premium in advance

A married couple purchase a life insurance policy on their newborn baby. They are concerned about what would happen to the policy if either one of them were unable to continue making the premium payments due to death or disability. Which policy rider should their agent recommend

Payor benefit

An Equity Indexed Annuity will grow based upon

Performance of a recognized index

Life insurance can provide which of the following

Survivor protection

All of the following are true of group life insurance except

The insureds each own their own contract

Who does the spendthrift clause in a life insurance policy protect?

beneficiary

Which of the following is an example of a physical hazard

diabetes

Who determines if a particular group of employees can be excluded from group health coverage

employer

Which of the following is not a type of hazard

exposure

The commissioner of insurance is appointed by which authority

governor

Which of the following best describes a presumptive disability

one that is severe enough that the insured automatically qualifies for full disability benefits

In group insurance, the primary purpose of the coordination of benefits provision is to

prevent overinsurance

Which of the following is a requirement for replacement of health policies

The old policy must stay in force until the new policy is issued

An insured has just adopted a child. How soon should she notify the insured if this addition

Within 31 days

An insured's hospital policy states that it will pay him a flat fee if 75 per day for each day he is hospitalized. The policy pays benefits on what basis

Indemnity

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

Which of the following riders provides for the payment of part of the policy death benefit if the insured is diagnosed with terminal illness that will result in death within 2 years

Living Needs Rider

If an employee remains on an employer group health plan within a company that has 20 employees and signs up for Medicare, which of the following coverages will be primary

Employer Group Health Plan

An insured has a routine exam, blood work, and a follow up appointment with a specialist. The insured receives a bull for each service provided. What type of plan does the insured have

Fee for service

What happens to the face amount of a whole life policy if the insured reaches age 100

The face amount is paid to the insured

All of the following are true of annually renewable term insurance Except

proof of insurability must be provided at each renewal