Missed questions from exam
For how many days of skilled nursing facility care will Medicare pay benefits?
100 days
Within how many days of requesting an investigative consumer report, must an insurer notify the consumer, in writing that the report will be obtained
3 days
How many days before delivery must an annuity contract be filed with an approved by the commissioner?
30 days
According to the life insurance replacement regulations, which of the following would be an example of policy replacement?
A policy is reissued with a reduction in cash value
Which policy rider added to disability income policy may require that a benefit be paid as a "capital" sum?
Accidental death and dismemberment
The omnibus budget reconciliation Act of 1990 (OBRA) requires that large group health plans must provide primary coverage for disabled individuals under
Age 65 who are not retired
While serving as Commissioner, which of the following would be allowable to that individual?
Be a policyholder of a health insurance contract
policy delivery refers to the delivery of the
Completed insurance policy to the applicant.
An insured is receiving hospice care. His insurer will pay for painkillers but not for an operation to reduce the size of a tumor. What term best fits this arrangement?
Cost-containment
decreasing term insurance is often used to
Cover a mortgage
All of the following are features and requirements of the living needs rider EXCEPT
Diagnosis must indicate that death is expected within 3 years.
Which nonforfeiture option has the highest amount of insurance protection?
Extended term
which of the following is correct statement about annuities
Fixed annuities do not provide protection against inflation
All of the following are dividend options EXCEPT
Fixed period installments
A jumpin juvenile policy is unique in that the death benefit automatically
Increases at a predetermined age
Credit disability insurance will pay
Monthly payments until the insured recovers or the loan is paid off
Cash values guarantees in a whole life policy are called
Nonforfeiture values
An insured has a level term insurance policy that is guaranteed renewable and also includes a re-entry provision. The re-entry provision would allow the insured to renew the policy and
Pay a lower renewal premium by providing insurability
An insured purchased a life policy in 2010 and died in 2020. The insurance company discovers at that time that the insured have a stated information about her insurance history on the application. What will the insured do?
Pay the benefit
Which of the following provisions would prevent an insurance company from paying a reimbursement claim to someone other than the policy owner
Payment of Claims
Regarding the taxation of business overhead policies,
Premiums are deductible, benefits are taxed.
What type of care is Respite care?
Relief for a major care giver
and insured wants to cancel her health insurance policy which portion of the contract would explain cancellation rights
Renewability provision
What must states do after the death of a person who received Medicaid benefits according to the Medicaid estate recovery act
Seek repayment of funds that were paid
Which of the following determines the length of time that benefits will be received under the fixed amount settlement option
Size of each installment
The family term rider incorporates
Spouse term and children's term
what happens if a non-member physician is utilized under the Point-of-Service plan?
The attending physician will be paid a fee for service, but the member patient will have to pay a higher coinsurance amount.
All of the following are ways in which a major medical policy premium is determined, except
The average age of the group
In a defined contribution plan,
The contribution is known and the benefit is unknown.
An individual applied for an insurance policy and pay the initial premium. The insurer issued a conditional receipt five days later the application at a medical exam, but the policy is issued. What would the policy as effective date?
The date of medical exam
All the following are true about group, life insurance, except
The employer is the beneficiary
A man works with company A and his wife works for company B. The spouses are covered by health plans through their respective companies that also cover the other spouse. if the husband files a claim,
The insurance through his company is primary
Illustrations used in the sale of life insurance policies must contain all of the following EXCEPT
The insured's financial classification
Which of the following is TRUE about nonforfeiture values?
They are required by state law to be included in the policy.
All of the following are requirements for life insurance illustrations EXCEPT
They must be part of the contract.
which provision states that the insurance company must pay medical expense claims immediately
Time of Payment of Claims
What is the purpose of the buyers guide?
To allow the consumer to compare the costs of different policies
What is the purpose of a benefit schedule?
To state what and how much is covered in the plan
When is the earliest a policy may go into effect?
When the application is signed and a check is given to the agent
All of the following cases show when a Small employer Medical plan cannot be renewable EXCEPT
When the employer chooses to renew the plan.
which of the following terms refers to the non-taxable portion of each annuity benefit payment
cost base
A limited health insurance policy that will pay a lump sum to an insured diagnosed with a heart attack stroke, or Renal Failure is known as.
critical illness insurance
if an agent follow the rules in terms of his agent contract, he's exercising his
express authority
The commissioner of insurance is appointed by which authority
governor
which of the following is not true regarding a noncancelable policy
insured can increase the premium above what is stated in the policy, if claims experiences greater than expected
All advertisements pertaining to life insurance policies are the responsibility of the
insurer
which of the following statements describes one of the reasons individuals purchase life insurance?
it creates an immediate estate
Which type of care is NOT covered by Medicare?
long term care
When assessing needs for life, insurance in an individual may use retention, which means
maintaining assets at death
Which of the following provides funding for the Alabama life and disability insurance guaranty association
member insurers
groce premium for a life insurance policy is determined by adding which two components
net premium and expenses
The classification Small Employer means any person actively engaged in business that on at least 50% of its working days during the preceding quarter employed
no more than 50 employees
when the owner of a participating whole life policy uses the dividend to provide more life insurance coverage which of the following dividends options is being used
paid up additions
Utilization management consist of an evaluation of the appropriateness necessity in the quality of healthcare may include
perspective and concurrent review
A core, Medicare supplement policy will cover all of the following expenses, except
plan A deductible
what is the difference between a straight life policy in a 20 pay whole life
premium payment period
Which of the following is NOT provided by an HMO?
reimbursement
F. I.C.A. Tax applies to which of the following.
social Security
