Set 3 - Florida Life, Health & Annuity Exam Prep by YIS

If an employee terminates her employment, which of the following provisions would allow her to continue health coverage under an individual policy, if requested within 31 days?

Conversion

Who does the secondary notice provision protect?

Elderly insureds

At the time the insured purchased her life insurance policy, she added a rider that will allow her to purchase additional insurance in the future without having to prove insurability. This rider is called

Guaranteed insurability.

Life income joint and survivor settlement option guarantees

Income for 2 or more recipients until they die.

In the event of loss, after a notice of claim is submitted to the insurer, who is responsible for providing claims forms and to which party?

Insurer to the insured

Which of the following is INCORRECT concerning Medicaid?

It is solely a federally administered program.

All of the following actions can be described as twisting EXCEPT

Misrepresenting the terms and conditions of the existing policy to make the new one more attractive

In a long-term care policy, pre-existing condition limitations

Must appear as a separate paragraph and be clearly labeled.

Any inducement offered to the insured in the sale of an insurance policy that is not specified in the policy is an unlawful practice known as

Rebating.

According to the rights of renewability rider for cancellable policies, all of the following are correct about the cancellation of an individual insurance policy EXCEPT

Unearned premiums are retained by the insurance company.

When can a Long-Term Care policy deny a claim for losses incurred because of a pre-existing condition?

Within 6 months of the effective date of coverage

L has a major medical policy with a $500 deductible and 80/20 coinsurance. L is hospitalized and sustains a $2,500 loss. What is the maximum amount that L will have to pay?

$900 (deductible + 20% of the bill after the deductible [20% of $2,000])

In order for an employee to be considered eligible for small group insurance, he/she must work at least how many hours per week?

25

A corporation can be considered a "small group employer" if it has at least one and a maximum of how many employees?

30

The free-look provision allows for which of the following?

A right to return the policy for a full premium refund

Which of the following insurance products will be subject to the regulation on life insurance solicitation?

A term life policy

When an insured purchased her disability income policy, she misstated her age to the agent. She told the agent that she was 30 years old, when in fact, she was 37. If the policy contains the optional misstatement of age provision

Amounts payable under the policy will reflect the insured's correct age.

An HMO that is found to be in violation by committing an unfair trade practice as define in the act, may suffer the penalty of

Any of the above

Which of the following is NOT covered under Plan A in Medigap insurance?

Approved hospital costs for 365 additional days after Medicare benefits end

An applicant for an insurance agent's license must

Complete a pre-licensing education course.

An insurance agent B likes to add additional coverages to applicants' policies and charge them for such coverages without their knowledge. The agents is guilty of

Sliding.

Which of the following special policies covers unusual risks that are NOT normally included under Accidental Death and Dismemberment coverage?

Special Risk Policy

If a business wants to buy a disability income policy on a key employee, which of the following is considered the beneficiary?

The employer

If a person accumulates more continuing education hours than is necessary to fulfill the requirements for a 2-year period, which of the following will occur?

The extra hours may be continued into the next period.

Insured Z's health insurance policy year begins in January. His policy contains a carry-over provision. In November, he has a small claim which is less than his deductible. Which of the following is true?

The insured may carry over the amount of this year's expenses to next year, which will help satisfy next year's deductible.

Under a health insurance policy, benefits, other than death benefits, that have not otherwise been assigned, will be paid to

The insured.

Which of the following is NOT a feature of a noncancellable policy?

The insurer may terminate the contract only at renewal for certain conditions.

If a life insurer holds the proceeds of any policy it issues, which of the following is true?

The proceeds may be exempt from any creditor's claims against a beneficiary other than the policy owner.

How must a replacing producer respond to an applicant wishing to replace existing life insurance?

The producer must provide the applicant with a Notice Regarding Replacement.

Why should the producer personally deliver the policy when the first premium has already been paid?

To help the insured understand all aspects of the contract