Missed Qs

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

A medical care provider which typically delivers health services at its own local medical facility is known as a

HMO

Which of the following is not regulated by the Insurance and privacy protection act

Insurance regulators

The Accelerated Death Benefit provision in a life insurance policy is also known as a(n)

Living benefit

Under what system do a group of doctors and hospitals in a designated area contract with an insurer to provide services at a prearranged cost to the insured?

PPO

What does Medicare parts A and B cover

Part A covers hospitalization; Part B covers doctor's services

Post-tax dollar contributions are found in

Roth IRA

Z is an agent who violated the Insurance Information and Privacy Protection Act. Z was then issued and served a statement of charges and notice of hearing by the Commissioner of Insurance. Z's hearing date must be at least ____ days after service of charges

10

A resident agent has __ days to notify the comissoner of insurance of address change

10 days

In NC monthly premiums health insurance policies must provide grace period for

10 days

In NC, monthly premiums policies must have a grace period of

10 days

A non contributory plan require __ percent of participation

100

What is the maximum amount of social security disablity benefit

100% of PIA

A person insured under a health policy is required to give the insurance company a Notice of Claim within how many days after a covered loss?

20

USA Patriot Act

2001

A terminated emplyee must be employed for __months to qualify for contined coverage

3

AN insurer must maintian greivence records for

3 years

M's insurance company denied a reinstatement application for her lapsed health insurance policy. The company did not notify M of this denial. How many days from the reinstatement application date does the insurance company have to notify M of the denial before the policy will be automatically placed back in force??

45

How long must every insurance agent maintain records

5 years

An eligible employee can be added to a group health coverage a max of ___ days after emplyment

90

Option that provides addtional death benefit for lowest cost and temp time

A&D rider

Exchange of unequal values

Aleatory

Which of these actions is taken when a policyowner uses a Life Insurance policy as collateral for a bank loan?

Collateral assingment

Before XYZ insurance company can issue or deliver policies in NC, they must be filed with..

Commissoner of Insurance

at what point does a whole life policy endow

When the cash value equals the death benefit

Policy feature that allows insured to defer current health charges to next years deductable

carryover

Physicians salaried under a HMO

closed panel

which of the following reimburses the insured for covered medical cost

commersial insurers

Pre-hospitalization authorization is considered an example of

managed care

A provision in a life insurance policy that pays the policy owner an amount that does not surpass the guaranteed cash value

policy loan provision

what is the purpose of the time of payment of claims provision

prevents delayed payment of claims

a retirment plan that sets aside part of the companys net income for distributions to qualified employees is called a

profit sharing plan

In NC, tontine policies are

prohibited

Which of these Nonforfeiture Options continue a build-up of cash value?

reduced paid up

Typically a life insurance death benefit is paid by a lump-sum payment. A(n) __________ option is a method of distributing a Life Insurance policy's death benefit OTHER than by a lump sum payment.

settlement

Who is normally considered to be the owner of a 403(b) tax-sheltered annuity?

the employee

HOw long does an individual have to rollover IRA

60 days

How long must one wait before taking legal actions on an accident and health policy

60 days after proof of loss

How does the Commissioner of Insurance attain office?

Appointed by the people of north carolina in a 4 year term

Traditional IRA distrubutions must start by..

April 1 of the year following the participant turns 70.5

Old Age, Survivors, and Disability Insurance (OASDI)

Social Security

Annuity that pays the largest possible monthly payment

Straight life

Flexible premiums and adjustable death benefit

Universal

Written agreement to recieve cash in exchange for sale and transfer of life insurance policy

Viatical Settlement

80/20 coinsurance clause

add deductible plus .2x(total-deductible )

the cost of living rider gives the insured

additional death benefits

A brokers liscence must be renewed annually by

april 1

Additional coverage can be added to a Whole Life policy by adding a(n)

decreasing term rider

Characteristic of PPO

discounted fees for patients

Which nonforfeiture option provides highest death benefit

extended term

The first portion of a major medical insurance expense that the insured is required to pay is called the

initial deductible

All of these Settlement options involve the systematic liquidation of the death proceeds in the event of the insured's death EXCEPT

interest only

Which of these types of coverage is best described as a short term medical policy

interium

Life insurance that provides coverage for a limited period of time at the lowest cost possible

level term

Annuity. If owner dies before 20 year payment is up, payment goes to his son

life annuity with period certain

K owns a Whole Life policy. If K wants an increasing Death Benefit to protect against inflation, which Dividend Option should she chose?

paid up add

What does a 401(k) plan generally provide its participants?

salary deferral contributions

K is shopping for a permanent life insurance policy that will offer her the MOST protection per dollar of annual premium. Which of these policies best fits her needs?

straight life

Permanent life insurance policy that will offer most protection per dollar of annual premium

straight life

which of the following is not covered under hospital expense

surgical fees

All of these are considered benefits under social security

suvivorship, disablity, and retriment

what type of life insurance policies are credit policies issued as

term

a term life insuracne policy matures

upon death during the term

A life policy that contains a monthly mortality charge as well as self-directed investment choices is called a(n)

variable universal

Who negotiates viatical settlements betweeen policyowner and viatrical settlement provider

viatical settlement broker

The provision in a group health policy that allows the insurer to postpone coverage for 30 days

waiting period

What type of rider would be added to an Accident and Health policy if the policyowner wants to ensure the policy will continue if he/she ever becomes totally disabled?

waiver of premium


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