Missed Guarantee Exam Problems

regarding health insurance, all of the following are tax-deductible except

employee paid group disability income.

Which of the following are members of and financially support the MIB?

iNSURANCE COMPANIES

Commissioner conducts legal hearing on producer suspected of violationg insurance code. what can commissioner issue?

Cease and desist order

For which of the following reasons may group coverage not be discontinued

Company stock value lowers

which of the following is the distinguishing characteristic of the interest-adjusted net cost method?

Considering the time value of money in comparing life insurance costs

Which of the following is not a common exclusion found in most health policies

Dental procedure due to birth defect

All of the following can be changed by owner of a universal life policy except

Guaranteed Rate of Interest

all of the following are features of catastrophic plans except

High Premiums

What does Guaranty Association guard against

Insurer insolvency

all of the following are true about non participating policies except

Nonparticipating policies issue dividends to policy owners

If life insurance company uses hi testing, when must an applicant be notified of the procedure?

Prior to performance of the test

Considering principle of liquidity, how would the policy owner use today's cash values in a life insurance policy

Use it for emergency expenses

WHICH WOULD BE TRUE OF BOTH THE FIXED-PERIOD AND FIXED-AMOUNT SETTLEMENT OPTIONS?

both guarantee that the principal and interest will fully be paid out

Which entity has option of including optional provisions in a health insurance policy?

Insurer

which is not true regarding noncancellable policy

Insurer can increase premium above what is stated in the policy if claims experience is greater than expected

Which of the following is provided by skilled medical personnel who need occasional medical assistance

Intermediate Care

Omnibus reconciliation Act of 1990 requires

Large group health plans must provide primary coverage for disabled individuals under age 65 who are not retired

employee is on extended loa when employer group health plan changes. what will employee notice when they return to work?

Limited coverage

which dividend option will increase death benefit

Paid-up Additions

What is another term for health insurance policy subscriber

Participant

Guaranteed insurability rider allows the owner to purchase additional amounts of life insurance without proof of insurability at all except

Purchase of a new home

What type of insurer uses formal sharing agreement?

Reciprocal

In contrasting stock insurers with mutual insurers, which statement is true

Stock insurers are owned by the shareholders, and issue non participating policies

All of the following are characteristics of group health insurance plans except

The parties that hold a group health insurance contract are the employees and the employer

how is a liscensee' date of continuing education credit review determined

by licensees month and date of birth

what advantage does the recurrent disability provision provide to the insured under a disability income policy?

eliminates imposition of a second elmination for the same disability

all are reasons for group insurance termination except

The dependents reach age 21

If the annuitant dies before the annuity date begins...

The interest is taxable

which of the following describes relationship between a capital sum and principal sum

capital sums are percentages of principal sums

Which is not correct concerning taxation of disability income benefits?

If paid by the individual, the premiums are tax deductible

All of the following are true of a multiple employer trust except

employee has a right of conversion upon leaving the group coverage

Under notice of claim written notice of claim must be submitted to the insurer within in...

20 days

Commissioner has determined producer is ineligible for appointment by the insurer. he must notify insurer within...

5 days

employee that becomes ineligible for group coverage must exercise extension of benefits under cobra within

60 days

Which of the following scenarios would a producer be allowed to obtain insurance through an unauthorized insurer?

If there are no authorized insurers for a specific type of coverage in this state

Which of the following conditions would life insurance proceeds be taxable by fed govt?

If there is a transfer for value

Which of the following is not a crucial factor in health insurance underwriting?

Income

Which is not a medicaid qualifier

Insurability

Which of loses would likely be covered under the accidental death rider?

Insurance company will pay the claim according to the benefits if the correct premium had been paid

man switches from being a lawyer to a bungee jumper and files a claim. what happens?

Insurance company will pay the claim according to the benefits if the correct premium had been paid

All of the following are true of credit life except

Insured names the beneficiary

Purpose of gatekeeper in HMO

cONTROLLING COSTS

Human life value approach to determine life insurance needs is based upon

loss of the breadwinner's income

Insured falls down flight of stairs and is disabled. Is it possible for the policy to include waiver of cost of insurance rider?

no

How many hour of continuing education are required to maintain a counselors license?

none

When may HIV-related test results be provided to the MIB?

oNLY IF THE INDIVIDUAL IS NOT IDENTIFIED

which of the following is a requirement for replacement of health policies

old policy must stay in force until the new policy is issued

Utilization management consists of an evaluation of the appropriateness , necessity and

prospective and concurrent review

which rem relates to disability income insurance

residual benefit

Upon the surrender of a life insurance policy any cash value accumulated in excess of the premiums is

taxed as ordinary income

In group health insurance, what is experience rating?

when an insurer uses the experience of the group as a whole to determine the premiums

which would be an example of policy replacement

A term policy expires, and the insured buys another term life policy