Accident and Health Insurance Basics

Pataasin ang iyong marka sa homework at exams ngayon gamit ang Quizwiz!

Evaluating information that establishes adverse selection risk is the purpose of which stage of insurance? A Contract Review B Application C Underwriting D Contract negotiation

C

If an applicant for a health insurance policy is found to be a substandard risk, the insurance company is most likely to A Charge an extra premium. B Require a yearly medical examination. C Lower its insurability standards. D Refuse to issue the policy.

A

What document describes an insured's medical history, including diagnoses and treatments? A Attending Physician's Statement B Physician's Review C Individual Medical Summary D Comprehensive Medical History

A

Which document is used to assess risk associated with an applicant's lifestyle and character? A Investigative Consumer Report B Character Assessment C Non-medical Risk Assessment D Applicant Lifestyle Assessment

A

The most the Insurance Guaranty Association will pay for net cash surrender values is A $500,000. B $1,000,000. C $100,000. D $250,000.

C

When benefits are paid directly to the insured under a health insurance policy, the policy provides benefits on what type of basis? A Limited B Scheduled C Reimbursement D Service

C

Health coverage becomes effective when the A Medical examination has been completed and the premium paid. B First premium has been received in the insurance company's home office. C First premium has been paid and the application has been approved. D Producer delivers the policy to the insured.

C/

A group policy used to provide accident and health coverage on a group of persons being transported by a common carrier, without naming the insured persons individually is called A Blanket Policy. B Activity policy. C Specified disease policy. D Certificate of Coverage Policy.

A

When is the insurability conditional receipt given? A When the premium is paid at the time of application B After the application has been approved and the premium has been paid C When an insured individual needs to obtain an insurability receipt for tax purposes. D If the application is approved before the premium is paid

A

Which of the following is true regarding health insurance underwriting for a person with HIV? A The person may only be declined if he/she has symptoms. B The person may not be declined for medical coverage solely based on HIV status. C A person may be declined for HIV but not AIDS. D The person may be declined.

B

Which term describes a situation in which people who are the most likely to have claims are also the most likely to seek insurance? A Law of large numbers B Adverse selection C Insurable interest D Double indemnity

B

Which of the following do the Standard and Preferred risk categories share? A Permanent coverage B Premiums are not elevated. C More medical evaluations are required. D Possible modifications to include expanded coverage

B/

An insured who has an Accidental Death and Dismemberment policy loses her left arm in an accident. What type of benefit will she most likely receive from this policy? A The capital amount in monthly installments B The principal amount in monthly installments C The capital amount in a lump sum D The principal amount in a lump sum

C

To comply with Fair Credit Reporting Act, when must a producer notify an applicant that a credit report may be requested? A When the applicant's credit is checked B When the policy is delivered C At the initial interview D At the time of application

D

Which of the following losses will be covered by a group medical expense policy? A An injury resulting from active military duty B An intentionally self-inflicted injury C An elective cosmetic surgery D A pre-existing condition

D


Kaugnay na mga set ng pag-aaral

DAW Codes: Dispense As Written Codes

View Set

Physics Chapter 9 Conceptual Questions

View Set