CA Life, Health and Accidental Exam Prep
Occasional visits by which of the following medical professionals will NOT be covered under LTC's home health care?
Attending Physician
An individual has been making periodic premium payments on an annuity. The annuity income payments are scheduled to begin after 1 year since the annuity was purchase. What type of annuity is it?
Deferred
Which of the following is considered to be a morale hazard?
Driving recklessly
Selection of coverage in employee benefits plans refers to
Employee choosing benefits
What is the difference between Medicare approved amount for a service or supply and the actual charge?
Excess charge
Medicare Part A services do NOT include which of the following?
Outpatient Hospital Treatment
What form of the annuity settlement options provides payments to an annuitant for the rest of the annuitants life and ceases at the annuitants death?
Pure Life
Your client is planning to retire, She has accumulated 100,000.00 in a retirement annuity and now wants to select the benefit option that will pay the largest monthly amount for as long as she lives. As her agent, you should recommend?
Straight Life
An insured has endured multiple surgeries and hospitalizations for an illness during the last few months. Her insurer no longer bills her for medical expenses. Which of the following allows for that?
Stop-loss Limit
Making use directly or indirectly of any methods of marketing which fail to disclose in a conspicuous manner that a purpose of the method of marketing is solicitation of insurance and that contract will be made by an insurance agent or insurance company is known as
Cold Lead Advertising
Contracts that are prepared by one party and submitted to the other party on a take it or leave it basis are classified as
Contracts of Adhesion
What is the term for a sales campaign conducted through the mail?
Direct-response
What are the 2 types of Flexible Spending Accounts
Health care accounts and dependent care accounts
All of the following are true regarding the guaranteed insurability rider EXCEPT?
The rider is available to all insureds with no additional premium
The maximum amount that can be contributed to an MSA is what percentage of the family deductible for those with family coverage?
75%
A tornado that destroys property would be an example of which of the following?
A peril
Which of the following best describes the waiting period?
A period of time the insured has to wait before payments of benefits begin after a disability
Assuming that all of the following people are covered by a high deductible health plan and are not claimed as dependents on anyone's tax returns, which would NOT be eligible for a HSA?
Amanda is 67 and is covered by a basic medical expense policy
An insured pays a monthly premium of 100.00 for her health insurance. What would be the duration of the grace period under her policy?
10 days for monthly pay, 7 days for weekly pay and 31 days for all other
For how many days of skilled nursing facility care will Medicare pay benefits?
100 days
What is maximum age for qualifying for a catastrophic plan?
30
What is the elimination period for Social Security disability benefits?
5 months
What size companies are eligible for health reimbursement accounts (HRAs)?
Companies of all sizes
Which of the following is available to employers of all sizes?
HRAs
Events or conditions that increase the chances of an insured loss occurring are referred to as
Hazards
Which statement is NOT true regarding a Straight Life Policy?
Its premium steadily decreases over time, in response to its growing cash value
All of the following are covered by Part A of Medicare Except
Physicians and surgeons services
Which of the following is NOT provided by an HMO?
Reimbursements
Which of the following information will be stated in the consideration clause of a life insurance policy?
The amount of premium payment
Peril is most easily defined as
The cause of loss insured against
excluding life insurance, under what condition may a policy owner transfer their personal insurance policy to another person
The insured will need the written consent of insurer
Which of the following is NOT a standard level of care
Hospice Care
Which provisions of a life insurance policy states the insurer's duty to pay benefits upon the death of the insured and to whom the benefits will be paid?
Insuring clause
The policyowner wants to make sure that upon his death, the life policy will pay a portion of the proceeds annually to his spouse, But that the principal will be paid to their children when they reach a certain age. Which settlement option should the policyowner choose?
Interest only option
Which of the following insurance coverages would be allowed with an MSA?
Long Term Care
An employer employs 500 workers and contributes to their HSA. To reduce turnover, the employer wants to tell employees that they will lose their HSAs if they leave the company. Which of the following is true?
The employees own the accounts and may take them with them when they leave. The employer will have to find another way to improve retention.
An HSA holder who is 65 years old decides to use the money in the account for a nonhealth expense. Which of the following is true?
There will be a tax
Which of the following describes the taxation of an annuity when money is withdrawn during the accumulation phase?
Withdrawn amounts are taxed on a last in, first out basis
The continuing education requirements for the California Partnership for Long Term Care policies
Is part of an agents regular continuing education requirements
Which of the following is NOT true regarding the Life with Guaranteed Minimum annuity settlement option?
It does not guarantee that the entire principal amount will be paid out
A set of legal or regualatory conditions that affect an insurer's ability to collect premiums commensurate with the level of risk incurred would be considered a(n)
Legal Hazard
Which of the following is true regarding the gender of the applicants in disability income insurance?
Women, as they age, present a higher health risk and are more prone to disability
Which type of care is NOT covered by Medicare?
Long Term Care
B just bought a new car, which he anticipates will be paid for 4 years from now. He also wants to buy a life insurance policy, but is financially limited until the car is paid off. Which of the following types of policies would be the best for B?
Modified Life
An insured in involved in a car accident. In addition to less serious injuries, he permanently loses the use of his leg and is rendered completely blind. The blindness improves a month later. To what extent will the insured receive Presumptive Disability benefits?
No benefits
Medical savings accounts are only available to groups of how many employess
No more than 50 or self employed
Which of the following persons is NOT eligible for Medicare?
A person who has been entitled to Social Security disability benefits for the last 6 months
Which of the following is a short term annuity that limits the amounts paid to a specific fixed period or until a specific fixed amount is liquidated?
Annuity Certain
The LEAST expensive first year premium is found in which of the following policies?
Annuity Renewable Term
Which of the following is NOT true of Section 1035 Policy Exchange?
Any exchange made under Section 1035 of the Internal Revenue Code must be completed within 30 days
Disability income policies can provide coverage for a loss of income when returning to work only part-time after recovering from total disability. What is the benefit that is based on the insured's loss of earnings after recovery from a disability?
Residual disability
An insured who has an Accidental Death and Dismemberment policy loses her left arm in an accident. What type of benefit will she most likely receive from this policy?
The capital amount in a lump sum
What is the purpose of coinsurance provisions?
To help the insurance company to prevent overutilization of the policy
Which of the following is NOT the purpose of HIPAA?
To provide immediate coverage to new employees who had been previously covered for 18 months
When would a 20 pay whole life policy endow?
When the insured reaches age 100
The two types of assignments are
absolute and collateral
