Health insurance - 8
Which of these provisions is not required in a group life policy?
Right to loan proceeds
An accident and health policy is required to provide essential benefits without annual in life time limits when purchased individually or with group coverage through
The federal marketplace
Which of these organizations approves continuation courses in Virginia?
Virginia insurance continuing education board
An accident and health policy holder has ____ days to return the policy and receive a full premium refund
10
A long-term care policy issued in Virginia must provide coverage for at least
12 months
If an agent hold one license type goodbye and you're continuing education requirement is ___ hours
16
After passing the state exam and applicant is required to obtain the appropriate license within ____ calendar days
183
If an agent holds two license types the continuing education requirement is ___ credits by December 31 in even numbered years
24
Under the affordable care act ACA health coverage is provided for dependence up to the age of
26
Which of the following is a requirement to be eligible for a group life policy in Virginia? A. Group must be formed for a purpose other than obtaining insurance B. Group must designate one of its members to be the named insured C. Group must have been formed for obtaining insurance D. Group must include at least five employers
A. Group must be formed for a purpose other than obtaining insurance
Which of the following does not qualify as creditable coverage under the health insurance portability and accountability act HIPAA?
Accident plans
Individual accident and health insurance coverage must meet minimum standards in Virginia these minimum standards
Apply to policy definitions as well as to benefits
Which of the following is the requirement for an individual to perform the duties of an insurance agent?
Be duly licensed
A client would like to purchase an annuity from an agent. The agent does not need to make reasonable efforts to obtain information from the client on which of the following?
Clients marital status
If an existing accident and health policy is being replaced with a new policy the decision to replace should not be based on
Commissions to be paid
Which of the following does cobra allow a terminated employee to receive?
Continued coverage in group health plan
The rules governing life insurance and annuity replacements do not apply to
Credit life
Which of the following coverages does not need to be provided under the affordable care act ACA? Preventative services as set by the CMS Elective cosmetic surgery Emergency services Pre-existing conditions
Elective cosmetic surgery
If an administration fee is charged by an agent the customers written signature is required
In every occurrence
Which of the following would be a valid reason for suspending or revoking and insurance agents license?
Participating in the act of twisting
The rules governing life insurance and annuity replacements were created to
Reduce the opportunity for misrepresentation and incomplete disclosure
A Health maintenance organization (HMO) must
Require it's providers must be under contract or employment
Which situation does not require an agent to provide a suitability statement to the annuity company? A. When an annuity contract is recommended and sold as a solution to its clients financial objectives B. After a valuation of a clients retirement goals and annuity is proposed and sold C. When an agent advised the client to purchase a fixed annuity to provide retirement income and an application is taken D. When an agent discusses annuities in general with a client but no specific recommendation is made
D. When an agent discusses annuities in general with a client but no specific recommendation is made
If an agent has not completed the continuation education requirement by November 30 a final opportunity complete this requirement is extended to
December 31 every even year
An accident and health insurance applicant who fails to include material medical information on an application would be reason for the insurer to
Deny any future claims and to refund of premium
A business entity acting as an insurance agent must
Designate at least one licensed producer to be responsible for the entities compliance with the insurance laws and rules
T is an insurance agent running television ad stating his license for a line of authority when in fact he is not. T has engaged in
False advertising
The rules governing advertisement of life insurance and annuities were created to provide
Full disclosure to the public of all material and relevant information
When engaged in an insurance transaction in Virginia the agent represents the
Insurer
In order for an individual to receive commissions from an insurance company for services as an agent the individual must be
Licensed and appointed
Life insurance coverage will frequently contain an accelerated benefit rider attached to the policy. What would be considered a qualifying event under these riders?
Medical condition resulting in a significantly shortened lifespan
According to the rules governing advertisement of life insurance and annuities an agent may not take which of the following actions during a sales presentation?
Mentioning guaranteed policy dividends
J the agent makes false statements to a prospective client about the projected dividends for a policy. J may be found guilty of:
Misrepresentation
In Virginia long-term care insurance
Must offer inflation protection to applicants
A licensed business entity acting as an insurance agent must
Notify the bureau of insurance of any fictitious name used
During the course of a Medicare supplement sale T the agent determines there is an existing policy being replaced. Which of these actions is T not required to perform?
Notify the replaced insurance company
In Virginia which of the following insurance transactions do not require records to be maintained?
Premium quotes not accepted by the client
Which of the following items are governed by the rules governing advertisement of life insurance and annuities?
Prepared sales presentations used by insurance agents
Which of these policies does not require a policy loan provision?
Term life
An example of an adverse underwriting decision is
Terminating insurance coverage
Which of the following is not a requirement for testimonials used in accident and health insurance?
Testimonials must be approved by the commission
In order for domestic for and or alien insurance company to conduct business it must be authorized by whom?
The state where they are conducting business
Which type of coverage is exempt to the rules pertaining to senior specific certifications and professional designations?
Title insurance
An agent has made false comparisons of policies to induce the sale of an insurance policy. This illegal act is called
Twisting
J is an agent who has induced and insured through misrepresentation to surrender an existing insurance policy. What is J guilty of?
Twisting
An individual received a quote from an insurance company that has a different rate from the individuals in the same risk class. The insurance company may be accused of
Unfair discrimination
An agent must leave a buyers guide with an applicant for which type of policy?
Universal life insurance
