Guaranteed Test
All insurance producers, brokers, and adjusters must successfully complete a number of continuing Education course credits prior to license renewal. How many of these hours must be completed through classroom courses
12 hours
All of the following could qualify as a group for the purpose of purchasing group health insurance except
And association of 35 people
Which of the following is compensated solely from providing advice to the public regarding the benefits, advantages and disadvantage is of insurance policies
Consultants
HMO members pay a small fee when they see their primary care physician. This fee is called
Copay
An adjustable life policy can assume the form of
Either term insurance or permanent insurance
Because of the imposed blackout period, the surviving spouse will not receive Social Security benefits until
He or she qualifies for retirement benefits
An employee is on an extended leave of absence when the employer group health plan changes from one carrier to another. Before the employee returns to work, what might the employee most likely notice?
Limited coverage
What does an annuity protect the annuitant against?
Living longer than expected
How much notice busted the commissioner get a producer before an examination is conducted
None
If the insurance premiums were not tax deductible, what other taxation will this affect
Taxation of benefits
A lender who conditions approval of a loan on the condition that the borrower purchase insurance from that lender may be guilty of
coercion
Annuities certain limit the amount paid by the annuity to a certain fixed
period or fixed amount
Which of the following types of care could be provided at the community center
Adult daycare
If a loan request is for payment of two premiums on the policy, how soon must the insurer issue a loan?
Immediately
Restoring and insured financially after a claim is known as
Indemnity
The Omnibus Budget Reconciliation Act of 1990 requires
Large group health plans must provide primary coverage for disabled individuals under age 65 who are not retired
In agreement that is enforceable by law is known as what kind of contract?
Legal
If a life insurance company uses HIV testing as a part of it underwriting, when must an applicant be notified of the procedure?
Prior to performance of the test
Which of the following is a daily nursing and rehabilitative care that can only be provided by medical personnel, under the direction of a physician?
Skilled care
If an individual willfully violates provisions of the fair credit reporting act, what is the maximum civil penalty?
$2500
In order for an alumni Association to be eligible to purchase group health insurance for its members, all of these statements must be true except when the association
Has been active for five years
And equity indexed annuity will grow based upon
Performance of a recognized index
How do premiums in variable universal life policy's vary from those in variable whole life policies
Premiums are flexible
If an accident and health insurance policy provides coverage for any members of the policyholders family, the policy must provide benefits on the same basis to an adopted child beginning from the date of placement, if placement for adoption occurs within
30 days of the child's birth
Which of the following terms refers to the non-taxable portion of each annuity benefit payment
Cost base
Decreasing term insurance is often used to
Cover a mortgage
All of the following must sign an application for health insurance except the
Insurer
And insured decides to surrender his whole life insurance policy. The cash value at surrender is higher than the premiums paid into the policy, due to interest. What part of the surrender value would be income taxable?
The difference between the premiums paid and the cash value would be taxable
All of the following are true of credit life except
The insured name is the beneficiary (owner names it)
Which of the following would not be eligible for coverage under key person
The owner of a shop
All of the following are characteristics of group health insurance plans except
The parties that hold a group health insurance contract or the employees and the employer
Who is required to inform applicants about information gathering practices?
The producer
What is the purpose of the surrender charge and a deferred annuity?
To compensate the company for loss of investment value
What is the purpose of the impairment rider in a health insurance policy
To exclude coverage for a specific impairment
What is the exclusion ratio used to determine
The annuity benefit to be excluded from taxes
All of the following are true regarding the waiver of cost of insurance rider except
The rider expires when the insured reaches age 60
