Accident & Health

Which of the following does NOT have to be disclosed in a long-term care (LTC) policy? The aggregate amount of premiums due The meaning of the terms "reasonable" and "customary" Any limitations or conditions of eligibility for LTC benefits Any riders or endorsements

The aggregate amount of premiums due

To attain currently (partially) insured status under Social Security, a worker must have earned at least how many credits during the last 13 quarters? 4 credits 6 credits 10 credits 40 credits

6 Credits

If an employer provides long-term group disability insurance for its employees, what percentage of monthly wages are lower-paid employees eligible to collect? 33 and 1/3% 50% 66 and 2/3% 90%

66 and 2/3% If an employer provides long-term group disability insurance for its employees, the benefit period may be limited to age 65, and benefits will be limited to 50% of the monthly wages for higher-paid employees and 66 and 2/3% of the monthly wages for lower-paid employees.

* If a licensed person is moving to Pennsylvania, he or she may become licensed as a resident if they submit a completed application within how many days of establishing residence in Pennsylvania with proof of licensing from their prior home state? 90 180 30 60

90 Nonresident producers may become resident producers if they submit a completed application within 90 days of establishing residence in Pennsylvania with proof of licensing from their prior home state.

Medicare Advantage is also known as Medicare Part D. Medicare Part A. Medicare Part B. Medicare Part C.

Medicare Part C.

Premium payments for personally-owned disability income policies are Not tax deductible. Eligible for tax credits. Tax deductible. Tax deductible to the extent that they exceed 10% of the adjusted gross income of those itemizing deductions.

Not tax deductible. Premiums for personally-owned individual disability income policies are not deductible

* What is the initial period of time specified in a disability income policy that must pass, after the policy is in force, before a loss can be covered? Contestable period Elimination period Grace period Probationary period

Probationary period Probationary period is the period of time after a policy is in effect before claims arising out of an illness are covered. This is to prevent adverse selection, persons waiting until they have been exposed to a cause of loss before purchasing coverage.

Insurance producers that do not have company appointments are considered a/an Agent. Producer. Representative of the consumer. Managing General Agent.

Representative of the consumer.

Which of the following dental insurance categories would cover the filling of cavities? This type of work is not covered. Routine and preventative maintenance Routine and major restorative care Orthodontic care

Routine and major restorative care

Which of the following statements is INCORRECT? A licensee may charge a fee in addition to a commission to a person for the sale, solicitation or negotiation of a contract of insurance for commercial business. A licensee is barred from charging a fee in addition to a commission to a person for the sale, solicitation or negotiation of a contract of insurance for commercial business. No insurance producer may charge a fee for the completion of an application for a contract of insurance. The fee charged by the licensee must be disclosed in advance in writing to the person and must be reasonable in relationship to the services provided.

A licensee is barred from charging a fee in addition to a commission to a person for the sale, solicitation or negotiation of a contract of insurance for commercial business.

In which Medicare supplemental policies are the core benefits found? All plans Plans A and B only Plan A only Plans A-D only

All plans The benefits in Plan A are considered to be core benefits and must be included in the other types. Therefore, all types contain the core benefits offered by Plan A.

Which of the following types of agent authority is also called "perceived authority"? Fiduciary Apparent Express Implied

Apparent Apparent authority (also known as perceived authority) is the appearance or the assumption of authority based on the actions, words, or deeds of the principal or because of circumstances the principal created.

* At what point must an Outline of Coverage be delivered? At any point up to 30 days after policy delivery At the time of application only Upon delivery of the policy only At the time of application or upon delivery of the policy

At the time of application or upon delivery of the policy An Outline of Coverage must be delivered at the time of application or upon delivery of the policy.

After a person's employment is terminated, it is possible to obtain individual health insurance after losing the group health coverage provided by the employer. Which of the following is NOT true? The employee can convert from group to individual insurance within 31 days of termination. The premium of the individual health insurance policy can be higher than the original policy. By law, the new, individual policy must provide the same benefits as the group insurance policy. Continuation of group coverage need not include dental, vision, or prescription drug benefits.

By law, the new, individual policy must provide the same benefits as the group insurance policy.

An insured is hospitalized with a back injury. Upon checking his disability income policy, he learns that he will not be eligible for benefits for at least 30 days. This indicates that his policy is written with a 30-day Probationary period. Waiver of benefits period. Elimination period. Blackout period.

Elimination period. The elimination period is the time immediately following the start of a disability when benefits are not payable. This is used to reduce the cost of providing coverage and eliminates the filing of many claims.

Why is it essential for an insurer to document all correspondence with an insured? Federal law Errors and omissions Statistics gathering State law

Errors and omissions Insurers are encouraged to document all conversations and correspondence that occurs with an insured, in the event that crucial errors and omissions should occur. The most common times for these errors are during the sales interview and policy delivery. It is essential to have proof of these interactions, in the events that an insured would sue the insurer.

What are the 2 types of Flexible Spending Accounts? Medical Savings Accounts and Health Reimbursement Accounts Health Care Accounts and Dependent Care Accounts Health Care Accounts and Health Reimbursement Accounts Medical Savings Accounts and Dependent Care Accounts

Health Care Accounts and Dependent Care Accounts

In which of the following locations would skilled care most likely be provided? At a physician's office In an institutional setting At the patient's home In an outpatient setting

In an institutional setting

Concerning Medicare Part B, which statement is INCORRECT? It provides partial coverage for medical expenses not fully covered by Part A. It is fully funded by Social Security taxes (FICA). It is known as medical insurance. It offers limited prescription drug coverage.

It is fully funded by Social Security taxes (FICA).

Which of the following information regarding an insured is NOT included in an Investigative Consumer Report, which is requested by an underwriter? Applicant's character Personal habits General reputation Medical History

Medical History