Sales exam
The life and health guaranty association will cover the contractual obligations of an insolvent insurer to an individual up to what amount?
$250,000
What is the maximum number of employees in order for a company qualify as a small employer?
50
What specific kind of insurance is often written in conjunction with hospital expense policies and includes surgeons and anesthesiologists fees?
Basic surgical expense insurance
In addition to participation requirements, how does an insurer guard against adverse selection when underwriting group health?
By requiring that the insurance be incidental to the group
Regarding the consideration clause, which of the following is NOT correct?
Consideration of the insurer and insured must be equal
An important fact about the financial status of an insurer was deliberately withheld. Which of the following terms best describes this action ?
False financial statement
An insurer incorporated under the laws of another state but doing business in this state is considered
Foreign
A medicare supplement plan must have at least which if the following renewal provisions?
Guaranteed renewable
In order for alumni association to be eligible to purchase group health insurance for its members these statements must be true EXCEPT when the association
Has been active for 5 years minimum
All of the following must sign an application for health insurance EXCEPT the ?
Insurer
In health insurance, the length of the grace period varies according to the ?
Mode of premium payment
If an insured is injured while committing an illegal act, and his health policy contains the illegal occupation provision, what percentage of the claim will be paid?
Nothing
When may HIV-related test results be provided to the MIB?
Only if the individual is not identified
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
What does the application of contract of adhesion mean?
Since the insured does not participate in preparing the contract, any ambiguities would be resolved in favor of the insured.
Which of the following actions does NOT constitute false advertising?
Using names that disguise the true nature of a policy
Insurable interest is proven by...
love and affection economic Or financial loss. It is required at the time of policy issuance
All of the following would be classified as "limited insurance coverage"EXCEPT?
Accidental death and dismemberment policy
4 essential elements of a contract
Agreement-offer and acceptance. Consideration. Competent parties and legal purpose. Consideration is something of value that each party gives to the other. Parties to a contract must be capable of entering into a contract .be of legal age, Mentally competent to understand the contract And not under the influence of drugs or alcohol. To be legal must have both insurable interest and consent
A portion of a patient's open-heart surgery costs is paid by the organization that provided the surgery and post-operative care. Which type of organization is this ?
Contributing
Following a covered loss, the Time Payment of Claims Provision requires that an insurance company pay disability income benefits no less frequently than
Monthly
A producer advises a policyholder that he should replace his life insurance policy with another, similar policy. The agent advising this, however, for the sole purpose of earning a commission. What violation has the agent committed?
Churning
A lender who conditions approval of a loan on the condition that the borrower purchase insurance from the lender may be guilty of
Coecion
Which of the following os NOT normally an excluded cause of disability in an individual disability income policy?
Complications from pregnancy
An agent tells an insured that if he replaces his current insurance policy with a new one, his dividends will be higher and his premiums will be slightly lower. The policy , however, would not offer either one of these things. What type of misrepresentation is being committed?
Distorting
An insured's cancellable health insurance policy is being cancelled. One day before the policy is scheduled to end, he is involved in a major accident and is hospitalized for a week. Which of the following best describes the coverage that he would receive ?
Full benefits, as if the policy were still completely in effect
According to the Fair Crediting Act, all of the following statements are true EXCEPT?
If a applicant is declined for an insurance policy, he or she has no rights to know what was in the report.
Riley reads an agreement on the first page of her policy which includes a list of losses that will be covered by her insurer. What is the name of this agreement?
Insuring Clause
Which of the following is provided by skilled medical personnel to those who need occasional medical assistance or rehabilitative care?
Intermediate Care
If an insured is not entirely satisfied with a policy issued, the insured may return it to the insurance company and receive a refund of the entire paid premium paid, at which of the following times ?
Within 10 days of when the policy was delivered
Which of the following statements is NOT true regarding health insurance policy provisions?
All additional provisions written by insurers are cataloged by their respective states.
Long term care coverage may be sold in all of various ways EXCEPT
As a part of medicare supplement policy by the use of endorsement
All of the following are features of a health insurance plan purchased on the health insurance marketplace EXCEPT ?
Dollar limits on essential benefits
How many continuing education hours must licensees complete on biennial basis?
24
Which of the following best describes the type of care provided by HMO's?
Preventive