Health insurance - 8

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Which of these provisions is not required in a group life policy?

Right to loan proceeds

An accident and health policy is required to provide essential benefits without annual in life time limits when purchased individually or with group coverage through

The federal marketplace

Which of these organizations approves continuation courses in Virginia?

Virginia insurance continuing education board

An accident and health policy holder has ____ days to return the policy and receive a full premium refund

10

A long-term care policy issued in Virginia must provide coverage for at least

12 months

If an agent hold one license type goodbye and you're continuing education requirement is ___ hours

16

After passing the state exam and applicant is required to obtain the appropriate license within ____ calendar days

183

If an agent holds two license types the continuing education requirement is ___ credits by December 31 in even numbered years

24

Under the affordable care act ACA health coverage is provided for dependence up to the age of

26

Which of the following is a requirement to be eligible for a group life policy in Virginia? A. Group must be formed for a purpose other than obtaining insurance B. Group must designate one of its members to be the named insured C. Group must have been formed for obtaining insurance D. Group must include at least five employers

A. Group must be formed for a purpose other than obtaining insurance

Which of the following does not qualify as creditable coverage under the health insurance portability and accountability act HIPAA?

Accident plans

Individual accident and health insurance coverage must meet minimum standards in Virginia these minimum standards

Apply to policy definitions as well as to benefits

Which of the following is the requirement for an individual to perform the duties of an insurance agent?

Be duly licensed

A client would like to purchase an annuity from an agent. The agent does not need to make reasonable efforts to obtain information from the client on which of the following?

Clients marital status

If an existing accident and health policy is being replaced with a new policy the decision to replace should not be based on

Commissions to be paid

Which of the following does cobra allow a terminated employee to receive?

Continued coverage in group health plan

The rules governing life insurance and annuity replacements do not apply to

Credit life

Which of the following coverages does not need to be provided under the affordable care act ACA? Preventative services as set by the CMS Elective cosmetic surgery Emergency services Pre-existing conditions

Elective cosmetic surgery

If an administration fee is charged by an agent the customers written signature is required

In every occurrence

Which of the following would be a valid reason for suspending or revoking and insurance agents license?

Participating in the act of twisting

The rules governing life insurance and annuity replacements were created to

Reduce the opportunity for misrepresentation and incomplete disclosure

A Health maintenance organization (HMO) must

Require it's providers must be under contract or employment

Which situation does not require an agent to provide a suitability statement to the annuity company? A. When an annuity contract is recommended and sold as a solution to its clients financial objectives B. After a valuation of a clients retirement goals and annuity is proposed and sold C. When an agent advised the client to purchase a fixed annuity to provide retirement income and an application is taken D. When an agent discusses annuities in general with a client but no specific recommendation is made

D. When an agent discusses annuities in general with a client but no specific recommendation is made

If an agent has not completed the continuation education requirement by November 30 a final opportunity complete this requirement is extended to

December 31 every even year

An accident and health insurance applicant who fails to include material medical information on an application would be reason for the insurer to

Deny any future claims and to refund of premium

A business entity acting as an insurance agent must

Designate at least one licensed producer to be responsible for the entities compliance with the insurance laws and rules

T is an insurance agent running television ad stating his license for a line of authority when in fact he is not. T has engaged in

False advertising

The rules governing advertisement of life insurance and annuities were created to provide

Full disclosure to the public of all material and relevant information

When engaged in an insurance transaction in Virginia the agent represents the

Insurer

In order for an individual to receive commissions from an insurance company for services as an agent the individual must be

Licensed and appointed

Life insurance coverage will frequently contain an accelerated benefit rider attached to the policy. What would be considered a qualifying event under these riders?

Medical condition resulting in a significantly shortened lifespan

According to the rules governing advertisement of life insurance and annuities an agent may not take which of the following actions during a sales presentation?

Mentioning guaranteed policy dividends

J the agent makes false statements to a prospective client about the projected dividends for a policy. J may be found guilty of:

Misrepresentation

In Virginia long-term care insurance

Must offer inflation protection to applicants

A licensed business entity acting as an insurance agent must

Notify the bureau of insurance of any fictitious name used

During the course of a Medicare supplement sale T the agent determines there is an existing policy being replaced. Which of these actions is T not required to perform?

Notify the replaced insurance company

In Virginia which of the following insurance transactions do not require records to be maintained?

Premium quotes not accepted by the client

Which of the following items are governed by the rules governing advertisement of life insurance and annuities?

Prepared sales presentations used by insurance agents

Which of these policies does not require a policy loan provision?

Term life

An example of an adverse underwriting decision is

Terminating insurance coverage

Which of the following is not a requirement for testimonials used in accident and health insurance?

Testimonials must be approved by the commission

In order for domestic for and or alien insurance company to conduct business it must be authorized by whom?

The state where they are conducting business

Which type of coverage is exempt to the rules pertaining to senior specific certifications and professional designations?

Title insurance

An agent has made false comparisons of policies to induce the sale of an insurance policy. This illegal act is called

Twisting

J is an agent who has induced and insured through misrepresentation to surrender an existing insurance policy. What is J guilty of?

Twisting

An individual received a quote from an insurance company that has a different rate from the individuals in the same risk class. The insurance company may be accused of

Unfair discrimination

An agent must leave a buyers guide with an applicant for which type of policy?

Universal life insurance


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