Arkansas Exam fx

Lakukan tugas rumah & ujian kamu dengan baik sekarang menggunakan Quizwiz!

A insured pays a monthly premium of $100 for her health insurance. What would be the duration of the grace period under her policy?

10 days

What is the maximum fine for insurance violation?

1000

Brian was issued a temporary license 30 days ago how long can he legally serve under this license?

150 days

Cobra Applies to employers with at least?

20 employees

The relation of earnings to insurance provision allows the insurance company to limit the insurance benefits to his or her advantage income over the last?

24 months

Within how many days of requesting a investigative consumer report must insure notify the consumer in writing that's a report will be obtained?

3 days

An accident and health insurance policy that requires The premium to be paid quarterly must include a grace period of?

31 days

How soon following the occurrence of a covered lost mustDoes the insure have to submit proof to the insurance company?

90 days

Which of the following does the insuring clause not specify?

A list of available doctors

The free look up provision allows the following?

A right to return the policy for a full premium refund

If the insured under's a disability income insurance policy changes to a more horrendous occupation after the policy has been issued, and a claim is filed, the insurance company should do which of the following??

Adjust the benefit in accordance with the increased risk

Elements of a legal contact ?

Agreement, consideration, competemt parties, legal purpose

Which of the following best describes the concept that the insured pays A small amount of premium for a large amount risk On the part of the insurance company?

Aleatory

Nature of health insurance contacts?

Aleatory, personal, adhesion, unilateral,conditional

How long does an insurer have to contest fraudulent miss statements made in a health insurance application?

As long as the policy is in force

A hardware store owner was in a car accident that left him disable for a year and a half.What type of insurance would help him pay for company expenses?

Business overhead expense

a policy available to business owners that provides payment for normal business expense in the event that the owner is disabled?

Business overhead expense

Which of the following are advantages of HMO or PPO for a Medicare recipient except?

Electric cosmetic procedure covered

The provisions that states that both the printed contract and a copy of the application form the contract between the policy owner and the insurance called the?

Entire contract

Another term used to describe no deductible is?

First dollar basis

An insurance company is domiciled in Montana and transacts in Wyomi Which describes the reps classification in Wyomi?

Foregin

Which of the following riders would NOT increase the premium for a policy owner?

Impairment rider

Underwriting a group health insurance plan that is paid for by the employer requires all the following except?

Individual members of the group may select the level of benefits for their own coverage

Who must pay the cost for a medical exam required in the process of underwriting?

Insurer

In health insurance if a doctor charges 50 more than what the insurance company considers usual?

Its not covered

The provisions which prevent the insured from bringing any legal action against the company for at least 60 days after proof of loss is known as?

Legal actions.

Misrepresentation is ?

Misrepresentation is an untrue statement

An applicant for health insurance policy return of the completed application to her agent, along with a check for the first premium. She received a conditional receipt two weeks later which of the following has the insured done by this point?

Neither approve the application or issue the policy?

Can a representative of HM0 mislead and enroll by advertisements?

No

Can a group that was formed solely on gaining health insurance be accepted?

No the group months before prior to obtaining insurance

And insured purchased a disability income policy with a 10 year benefit. The policy stated a 20 day probationary period for illnesses. If the insured is hospitalized with an illness two weeks after the policy was issued how much will the policy pay?

Nothing, it's not covered in the first 20 days of contract

All of the following are most common variations in long-term care policy except ?

Number of family dependence

Unilateral means what ?

One sided promise

Regarding the taxation of business overhead expense policies,?

Premiums are deductible, and benefits or text.

All of the following are correct about the required provisions of a health insurance policy except?

Proof of loss forms must be submitted within 15 days

And insured wants to name her husband as a beneficiary of her insurance policy.She also wish is to obtain all the rights of ownership. The insured should have her husband named as what type of beneficiary?

Revocable

The minimum number of people they can be insured under a group insurance plan is established by?

State law

What is Adhesion ?

Take it or leave it

Which of the following statement it's true regarding coinsurance?

The larger the percentage that is paid by the insured, the lower the required premium will be

And insured notifies the insurance company that he has become disabled. What provision states that claims must be paid immediately upon written proof of loss?

Time of payment claims

Which characteristic does not describe managed-care?

Unlimited access to providers

What is Aleatory ?

Unqual exchange

All of the following could be considered rebatesIf offered to an insured in the sale of insurance except

dividends from mutual insurer

When handling insurance funds insurance producers are acting in?

fiduciary capacity

The requirement that produces most account for all insurance collections?

fiduciary responsibility

Which of the following is correct about group health insurance policy?

he can provide coverage for handicapped children

There's a life insurance policy has a legal purposes which of the following exist ?

insurable interest and consent

What does life and disability Insurance guaranty association guard against?

insurer insolvency

In long-term care insurance what type of care is provided with immediate care?

occasional nursing or rehabilitative care

When an insurer combines two periods of disability into one, The insured must have suffered a?

recurrent disability


Set pelajaran terkait

Lesson Two- Chapter 10: introductions and conclusions

View Set

Foot Amputations in the Diabetic Population

View Set