H&L Exam Questions
How long is the incontestability. It in a group life insurance policy issued in Texas?
2 years
Within how many days of requesting an investigative Consumer report messenger modify the consumer in writing that the report will be obtained
3 days
The benefits for individual disability plans are based on
A flat amount
An individual has been diagnosed with Alzheimer's disease he is insured under a life insurance policy with the Excelerator Benefit Zoo Rider which of the following is true regarding taxation of the accelerated benefits
A portion of the benefit up to a limit is tax free the rest is taxable income
Insurance policies are not drawn up through negotiations and insured has little to say about us provisions Whattt Contract Chick drastic does this describe
Adhesion
Under which condition wouldn't have Waze group medical benefits be exempt from income taxes
And employees group medical benefits are generally exempt from taxation it as income
One annuity is written who's life expectancy is taking into account
Annuitant
What is the maximum period of time during which an insurer MAKIN test fraudulent statements made in a health insurance application
As long as the policy is in force
All the following or requirements of eligibility for Social Security disability income benefits except
Being age 65
An individual ensure under his employer group disability income Policy The Insurance suffered an accident while on vacation the left and unable to work for four months it's a disability income Policy pays a benefit which of the following would be true
Benefit Center at your beautiful to employer contributions are fully taxable to the employee as income
All the following are true regarding key employee disability income insurance except
Benefits are taxable to the employer
Which of the following best describes fix. Settlement options
Both the principal and interest will be liquidated over a slight period of time
Because an insurance policy is a legal contract and must conform to the state laws covering contracts which require all the following elements except
Conditions
Which of the following is true about credit life insurance
Creditor is the policyowner.
Which of the following types of insurance policies as most commonly used in credit life insurance
Decreasing Term
Which of the following actions is not in violation of the unfair claims settlement practices act?
Denying an unsubstantiated claim
Long-term care coverage may be available as any of the following options except
Endorsement to a health policy
How soon from a notice of cancellation may an HMO terminate coverage for misconduct?
Immediately
Which of the following is a True statement about a temporary license issued in this state?
It can only be issued once in any 6-month period
What is the benefit of choosing extend the term as a nonforfeiture or Option
It has the highest amount of insurance protection
Which of the following is correct regarding credit life insurance?
It insures the life of a debtor
Which life insurance settlement Option guarantees payments for the lifetime of the recipient but also specifies a guaranteed. During which if the original recipe and Diaz the payments will continue to be designated beneficiary
Life and come with. Certain
And insured stated on her application for life insurance as she had never had a heart attack when in fact she had a series of minor heart attack/year for which she sought medical attention which of the following will explain the reason a death benefit claim is denied
Material misrepresentation
And insured is involved in a car accident in addition to general less serious injuries he permanently loses the use of his leg and his rent a completely blind blind it improves a month later to what extent will he receive present a disability benefits
No benefits
And insured purchased a disability income policy with a 10 year benefit. The policy stated a 20 day probationary period for illness if the insured as per hospitalized with an illness two weeks after the policy was issued how much will the policy pay
Nothing illness is not covered during the first 20 days of the contract
Which of the following is correct concerning the taxation of premiums and a key person life insurance policy
Premiums are not tax deductible as a business expense.
Any inducement offer to the insured in the sale of an insurance policy that is not specified in the policy is not an awful practice known as
Rebating
Which nonforfeiture a Option provide coverage for the longest period of time
Reduce paid up
Which two terms are associated directly with the way and annuity is funded
Single payment or periodic payments
All of the following or unfair claim settlement practices except?
Suggesting negotiations and settling the claim
Children Riders attached a whole life policies are usually issued as what type of insurance
Term
An agent license in Texas is moving to Kansas which of the following applies
The agent has 30 days to notify the department of insurance of the new address
The primary beneficiary of her husband's life policy found that no settlement Option and Whattt State itttt The Policy on the date of her husband's death who will select the settlement option in this case
The beneficiary
Which of the following is not a licensing requirement for a corporation in the state of Texas
The business must be able to pay up to $50,000 in the event that it is proven to be negligent.
And employee is insured under her employer's group 5 PM if she terminate our group coverage which of the following statements is incorrect
The insurance may choose convert for two term and permanent individual coverage
Which of the following statements is true regarding coinsurance
The larger the percentage that is paid by the insured, the lower the required premium will be.
An HSA Holder who is 65 years old decide to use the money in the account for non-health expense which of the following is true
There will be a tax
Which of the following is true about nonforfeiture values
They are required by state law to be included in the policy.
Which of the following is true regarding taxation of Excelerator Benefits use under a life insurance policy
They are tax free to the terminally ill
Which of the following does The insurance Clause not specify
They list of available doctors
An agent holes and insurance license in the state of Kansas and would like to transact Insurance in Texas the agent became license before written examinations will require therefore the agent has not actually pass any kind of examination which of the following is true
They written examination requirement will be waived
Insurance usually do not reimburse claimants for 100% of income loss due to disability what is a reason for insure limitation on covered amount
To provide an incentive for the insured to return to work
After filing a claim and insured tells the insured that there is more than one insurance policy in force. That insurer set aside the claim until it hears what the other company will pay. The insurers action will be classified as?
Unfair
When doing business in this state, an insurance company that is formed under the laws of another state is known as which type of insurer?
foreign
Who bears all of the investment risk in a fixed annuity
insurance company
What is the initial period of time specified in a disability income policy that must pass after the policy is in force before loss can be covered
probationary period
And insured is covered by a partially contribute very grew disability income planned that plays Benefits at 4000 a month if the insurance pays 25% of the monthly premium how much of the monthly benefit would be taxable
3,000
Which of the following would be required to be licensed as a Insurance a Producer?
A salaried employee who had that advertises solicits insurance.
Which of the following is true regarding inpatient hospital care for HMO members
Care can be provided outside of the service area
And insured pays an annual premium to visit sure and return the insurer promises to pay benefits in accordance with the terms of the contract that has called
Consideration
An applicant for an individual health Policy fil to complete the application popular before being able to complete the application and pay the initial premium she's confined to a hospital this is not covered by insurance because she has not met condition specified in the
Consideration cause
And ensure neglects to pay legitimate claim that is covered under the terms of the policy which of the following Insurance principles has the insured violated
Considerations
A waiver of premium Provision may be included with what kind of health insurance policy
Disability Income
This arrangement specifies who will purchase a disabled partners interest in the event he or she becomes able
Disability buyout
Issue H Policy and Premium Zoo Increase and Response to which of the following factors
Increase a Benefits
Which provision of a life insurance policy states the insurance you need to pay benefits upon the death of the insured and her move the benefits will be paid
Insurance Clause
Which of the statement regarding qualifications for Social Security disability benefits is not true
The individual must be at least 65 years old
Informing insurance contract which does acceptance usually occur
When an insurance underwriter approves coverage
