Life & Health Cert

All of the following are required for HIV testing except A)The proper protocol must be followed in performing the test B)If HIV is present, the person may be rated, but the cannot be declined C)If HIV is present, the applicant's physician must be notified D)The applicant must be notified the HIV testing will be done

B

Which of the following is true regarding taxation of accelerated benefits paid under a life insurance policy?

They are received tax free

What is the purpose of a benefit schedule? A)To list the insured's copayments and deductibles B)To state what and how much is covered in the plan C)To include the average charges for procedures D) To provide the dates for the payment of benefits

B

Variable insurance and variable annuities are regulated by the A) NAIC B) SEC and FINRA only C) SEC, FINRA and departments of insurance D0)departments of insurance only

C

Which of the following would be TRUE of both the fixed-period and fixed-amount settlement options A)The size of installments decreases after a certain period of time B)Both guarantee payments for the life of the beneficiary C)Both guarantee the at the principal and interest will be fully paid out D)The amount of payments is based on the recipient's life expectancy

C

A limited health insurance policy that will pay a lump sum to an insured diagnosed with a heart attack, stroke or renal failure is know as A)Accidental death and dismemberment B)Hospital Confinement indemnity C)Dread disease insurance D)Critical illness insurance

D

Which of the following meets the insured's personal need, and is provided by nonmusical personnel A)Skilled care B)Assisted living C)Intimidate care D)Custodial Care

D

When a whole life policy is surrendered for its nonforfeiture value, what is the automatic option? A)Reduced paid up B) Extended term C)Paid up additions D) Cash surrender value

B

All of the following are consider in an insurance policy EXCEPT A)The cash value in the policy B)The statements on the application C)The premium paid at the time of application D)The promise to pay covered losses

A

Which of the following will not be included in the buyer's guide? A)Explanation on how to choose the amount type on insurance B)Basic information about life policies C)Specific information about the policy D)Comparison of policy costs

C

Which of the following service will NOT be provided by an HMO? A)unlimited coverage for treatment for drug rehabilitation B)treatment of mental disorders C)emergency care D)inpatient hospital care outside the service area

A

Which of the following terms relates to disability income insurance? A)insurable interest B)residual benefit C)coinsurance stop loss D) deductibles

B

Which of the following types of care couple be provided at a community center A)skiled care B)adult daycare C)respite care D) Intermediate care

B

An employee dies having 6 quarters of coverage during the previous 13 - quarter period. What status of coverage does the employee have under Social Security? A)Conditionally insured B)fully insured C)currently insured D)uninsured

C

An insurer can decide to not renew an optionally renewable policy A)on the 15th of every month B)on the 1st of every month C)on premium due dates D) at any point. there are no specific dates

C

In which of the following circumstances would a producer be allowed to obtain insurance through an unauthorized user A)Under no circumstances B)If the producer had knowledge that the company is unauthorized C)If there is no authorized insurers for a specific type of coverage in the state D)If the insurer needs to investigate an insurance claim

C

Cash value guarantees in a whole life policy are called A)Living benefits B)Cash loans C)Dividends D)Nonforfeiture value

D

According to the "common disaster" clause, if the insured and the primary beneficiary die in the same accident and it cannot be determined who died first, which of the following is assumed A)The primary beneficiary died before the insured B)The deaths occurred at the same time C)The estate of the primary beneficiary and the continent beneficiary are split evenly D)The insured died before the beneficiary

A

In health insurance the length of the grace period varies according to A)The mode of premium payment B)The length of the waiting period C)The length of the benefit period D)The age of the insured

A

An example of an alien insurer doing business in the state is one formed under the laws of A) Puerto Rico B)Mexico C)District of Columbia D)Arizona

B

An insured needs ongoing treatment fora diabetic condition. Under PPACA, which of the following is correct? A) The condition is covered if the insured's plan specifies the condition B) Treatment is subject to pre-existing conditions exclusion C) Treatment is subject to an annual dollar amount D) The condition must be covered under the insured's plan

D

Answers to the questions in an insurance application are called representations, and as such, they are, A)Absolutely true B)not true C)warranties D)believed to be true to the best of the applicants knowledge

D

Which of the following are NOT true regarding a nocancellable party? A)insurer can increase the premium above what is stated in the policy if claims experience is greater than expected B)insurer cannot cancel the policy C)The guarantee to renew coverage usually only applies unit l the insured reaches age 65 D)Insured has the unilateral right to renew the policy for the life of the contract and may discontinue paying premiums to cancel it

A

Under a group health insurance plan, benefits may be extended to all of the following dependents except A)the spouse of the certified holder B)A 30-year old mentally handicapped son of the primary beneficiary C)A dependent parent living with the primary certificate holder D)A 27 year old married daughter who is attending college and lives with her parents

D

When hay HIV related taste results be provided to the MIB A)Only if the individual is not identified B)Under all circumstance C)When given authorization by the patient D)Only when the test results are negative

A

Insurance contracts are unilateral in nature. What does that mean? A)A promise is made only at the time of the application B)Only one party makes a promise C)The insured must make a promise to pay the premium D)All parties to the contract exchange something of value

B

What is the specific requirement regarding the number of employees in a SIMPLE plan? A) No more than 2 employees B) No more that 100 employees C) At least 100 employees D) Between 2 and 50 employees

B

A Major Medical Expense policy would exclude all of the following except A)Dental Care B)Cosmetic Surgery C)Drug addiction D)Eye refraction

C

A producer advises a policyholder that he should replace his life insurance policy with another, similar policy. The agent is advising this, however, for the sole purpose of earning commission. What violation has the agent committed? A)Twisting B)Replacement Fraud C)Churning D)False Advertising

C

All of the following are examples of group health insurance plans EXCEPT A)Employees may require the employees to contribute to the premium payments B) The benefits under a group plan are more extensive than those under individual plans C)The parties that hold a group health insurance contract are the employees and the employer D)The cost of insuring an individual is less than that what would be charged for comparable benefits under an individual plan

C

A whole life policy is surrendered for a reduced paid up policy. The cash value in the new policy will A)Remain the same B) Decrease over time C) Reduce to the pre Surender value D) Continue to increase

D

Where are premiums from fixed annuities invested? A)A general account B)A variable account C)A hedge fund D) A separate account

A

An insured falls down a flight of stairs and sustains a neck injury that renders him severely disabled. The insured owns a whole life policy. Is it possible for the policy to include a waiver of cost of insurance rider and if so what insurance cost would be waived? A)No - it is not possible to waive the cost of insurance B) NO- it is not possible for this waiver to be included in a whole life policy

B

Medicare is a health insurance program formal of the following individuals EXCEPT A)those with permanent kidney failure B)those who have been on Social Security Disability for 2 years C)Those with low income and low assets D) those 65 or over

D

Which of the following statements is Incorrect concerning MEC's? A)An MEC must always past the 7 day test B)A life insurance policy failing the 7 pay test is classified as an MEC C)a primary purpose of the regulation governing MEC's was to reduce incentives for the use of life insurance as a short term investment schedule D)A distribution from an MEC may be subject to a 10% penalty if withdrawn prior to 59.5

A

Which statement is an accurate description o life insurance policy dividends? A)They are not taxable and are not guaranteed B)They are paid as a return of premium to policy owners by stock insurers C)they are guaranteed to be paid and they are taxable as income D)they are likely to be larger in nonparticipating policies

A

If an applicant submits the initial premium with the application, which action constitutes acceptance? A)The producer delivers the policy B)The insurance company receives the application and initial premium C)The underwriter approves the application D)The applicant submits a statement of good health

C

If an insured dies, and it is discovered that the insured misstated his/her age of gender , the life insurance company will A)Deny all claims because of the misrepresentation B)Adjust the back premiums for the proper age or gender C)Adjust the death benefit to what the premium would have purchased at the actual age or gender D)Pay the face amount specified at the time of policy issue

C

The provision that sets forth the basic agreement between the insurer and the insured states the insurer's promise to pay dat benefit upon the insured's death is called the A)Declarations B)Consideration C)Insuring Clause D)Payment of Claims

C

Which of the following policies would NOT offer a policy loan option A)Variable universal life B)term life C)whole life D) universal life

B

Insureds have the right to do which of the following if they have NOT received the proper claim forms within 15 days of their notice to the insure of a covered loss under a major medical policy?

C

Which of the following is provided by skilled medical personnel to those who need occasional medical assistance or rehabilitative care? A)Home Health Care B)Skilled Care C)Intermediate Care D)Custodial Care

C

Your client wants to provide a retirement income for his elderly parents in case something happens to him. He wants to make sure that both beneficiaries are guaranteed income for life. Which settlement option should this policy owner select? A)Fixed period installments B)Life income C)Joint and survivor D) Fixed amount installments

C

All of the following are features of catastrophic plans EXCEPT A)out of pocket costs B)high deductible C)essential benefits D) high premiums

D

An applicant for disability insurance policy has a heart condition of which they are unaware and therefore they answer no the the question pertaining to heart problems on their application. Their answer is considered to be a? A)Représentation B)Warranty C)concealment D) fraud

A

Riley reads an agreement on the first page of her policy which includes a list of losses that will be covered by her insurer. What is the name of this agreement? A)Insuring clause B)Coverage provisions C)Statement of loss coverage D) Consideration clause

A

The Guaranteed Insurability Rider allows the owner to purchase additional amount of life insurance without proof of insurability at all of the following except A)Purchase of a new home B)Approximately every 3 years between the ages of 25 and 40 C)Birth of a child D)Marriage

A

In group insurance, the primary purpose of the Coordination of Benefits provision is to A)Encourage hospitals to keep their charges reasonable B)Prevent overinsurance C)Prevent lawsuits between insurance company involved in the claim D)Ensure the payment of claims by all policies that are in effect at the time of the claim

B

Under the mandatory uniform provision "Notice of Claim", written notice of a claim must be submitted to the insurer whiten what time parameters? A) within 10 days B)within 20 days C)within 30 days D) within 60 days

B

A married couple purchases a life insurance policy on their newborn baby. They are concerned about what would happen to the policy if either one ofthem were unable to continue making the premium payments due to death or disability. Which policy rider should their agent recommend? A)Payor benefit B) Guaranteed insurability C) Automatic Premium loan D) Waiver of premium

A

A life insurance policy qualifies a Modified Endowment Contract if the amount of premium paid exceed the amount that would have provided paid-up insurance in how many years A)The life of the policy B)3 years C)5 years D) 7 years

D

Under the mandatory uniform provision of loss, the claimant must submit proof of loss within what time after the loss? A) 2 years B)30 days C)60 days D) 90 days

D