Health Insurance Practice Test
Which of the following provisions describes how the insurance company and the insured share expenses after a loss?
Coinsurance
Under which of the following provisions does the insured have the right to renew the policy for the life of the contract, while the insurance company may increase the premiums on a class basis?
Guaranteed renewable
Which of the following is NOT covered under medicare part B?
Hospital room and board charges
Written consent forms for HIV tests must do all of the following EXCEPT
Inform the applicant that negative results will be made public in 5 years
Which of the following statements is correct concerning the Guaranteed Insurability Rider?
It allows coverage to be increased WITHOUT a physical exam
Which of the following is true about Medicaid?
It is funded by the state and the federal government
Which of the following premium payment modes would result in the highest overall premium for a year's worth of life insurance?
Monthly
An insured has a disability policy. After becoming disabled, the insured must wait 90 days before qualifying for benefits. This timeframe is called the
Elimination Period
Which of the following would be a qualifying event as it relates to COBRA
Termination of employment due to company downsizing
In a group health insurance policy, which of the following would be issued the master policy?
Employer
The provision in health insurance policies which states that both the printed contract and a copy of the application for the contract between the policyowner and the insurer is called the
Entire Contract
On a policy that contains a guaranteed renewable provision, when can the insurer increase premiums?
On the policy anniversary date
Which of the following provisions specifies to whom claims are to be paid?
Payment of claims
HMOs help reduce the cost of health care by providing
Preventive care
What Medicare Advantage Plan is offered through private insurance companies?
Private fee-for-service
Which of the following mandatory health provisions states the specified number of days given to an insured to return the completed claim forms to the insurance company?
Proof of Loss
In insurance contracts, consideration on the part of the insured is
The payment of premiums and representations made in the application
Who has the authority to make changes to an insurance contract?
The policyholder
Which of the following does NOT describe the principal goal of a Preferred Provider Organization?
They provide medical services only from physicians in the network
What is the purpose of Medigap policies?
To cover expenses for Medicare deductibles and coinsurance
When does the free-look period begin for insurance policies?
When the policyowner receives the policy