Insurance State Exam

With respect to the entire contract clause in health policies, who has the authority to make changes to an existing policy?

Only the executive office of the company

If an applicant submits the initial premium with an application, what constitutes acceptance?

The underwriters approve the application

What is the purpose of the buy-sell agreement?

To allow the business buyout in case of the owner's death

An annuity has accumulated the cash value of $70,000, of which $30,000 is from premium payments. The annuitant dies during the accumulation phase. The beneficiary will receive how much?

$70,000

Core benefits are included in all medicare supplemental policies. What percentage of part b coinsurance is required?

20%

Major medical expense policies include drug addiction or eye refractions?

Drug addiction

What type of coverage does an HMO provide?

Emergency care, inpatient hospital care outside the service area, and treatment of mental disorders