Exam review insurance life and health missed questions:

Which of the following authorities is required to conduct a financial examination of the states insurers

director

The time limit of certain defenses provision prohibits insurers from denying a claim due to misrepresentation as long as the policy has been in force for at least

2 years

How many hours of continuing education must be completed in ethics and Missouri law each licensing period

3

All individual health policies issued in this state of missouri which provides coverage for hospital treatment must also provide coverage for treatment of alcoholism, which may be limited to how many days?

30

What is the main difference between co insurance and co payment

Co payment is the set dollar amount

If a policy has an automatic premium loan provision, what happens if the insured dies before the loan is paid back?

The balance of the loan will be taken out of the death benefit

What type of policy allows the insurance company to cancel a policy at any time

cancellable

Within how many days of a final disposition must a producer provide all legal documentation to the director

30 days

Which of the following named beneficiaries would NOT be able to receive the death benefit directly from the insurer in the event of the insureds death?

A minor son of the insured

Which of the following would best describe total disability?

A person's ability to work is significantly reduced or eliminated for the rest of his/her life.

Which of the following is NOT required on an application for a variable life insurance policy

A statement explaining the use of separate accounts in variable insurance

Under the mandatory uniform provision Notice of Claim, the first notice of injury or sickness covered under an accident and health policy must contain

A statement that is sufficiently clear to identify the insured and the nature of the claim.

Which of the following individuals is eligible for a health savings account

Allison is insured by a High Deductible Health Plan (HDHP)

All of the following are examples of third party ownership of a life insurance policy EXCEPT

An insured borrows money from the bank and makes a collateral assignment of a part of the death benefit to secure the loan.

All of the following qualify for Medicare Part A EXCEPT

Anyone who is willing to pay a premium.

All of the following statements are correct regarding credit life insurance EXCEPT

Benefits are paid to the borrower's beneficiary.

Which of the following is not allowed in credit life insurance

Creditor requiring that a debtor buys insurance from a certain insurer

Which of the following is NOT a term for the period of time during which the annuitant or beneficiary receives income

Depreciation period

If an annuitant dies before annuitization occurs, what will the beneficiary receive?

Either the amount paid into the plan or the cash value of the plan, whichever is the greater amount

An applicant is denied insurance because of information found on a consumer report. Which of the following requires that the insurance company supply the applicant with the name and address of the consumer reporting company?

Fair Credit Reporting Act

Which of the following is incorrect concerning taxation of disability benefits

If paid by the indidvidual, the premiums are tax deductible

Which of the following policy components contains the company's promise to pay

Insuring clause

Which of the following statements concerning Medicare part B is correct

It pays for physician services, diagnostic tests, and physical therapy.

Which of the following statements about the reinstatement provision is true

It requires the policyowner to pay all overdue premiums with interest before the policy is reinstated.

Which of the following is true of a PPO

Its goal is to channel patients to providers that discount services.

A 65 year old enrolls for benefits under Medicare Part B and submits an application for a Medicare supplement policy two months later. For which of the following reason may the insurer deny the application?

Material misrepresentation

Regarding the free-look provision, the insurance company

Must allow the policyowner to return the policy for a full refund.

What must a health carrier do within 72 hours of receiving a request for an expedited review

Notify the requesting enrollee of the carrier's determination

Medicare Part A services do NOT include which of the following?

Outpatient Hospital Treatment

Who might receive dividends from a mutual insurer?

Policyholders

A Medicare SELECT policy does all of the following EXCEPT

Prohibit payment for regularly covered services if provided by non-network providers

In respect to the consideration clause, which of the following is consideration on the part of the insurer?

Promising to pay in accordance with the contract terms

All of the following are true regarding rebates EXCEPT

Rebates are allowed if it's in the best interest of the client.

If a company has transacted insurance in this state without a certificate of authority, which of the following is true of its obligations for the policies sold

The company can still be liable for its policies in any court of this state

The chief officer of the department of insurance is the director. All of the following statements concerning the director are true except

The director may serve as an officer or director for an unauthorized insurer

Under a health insurance policy, benefits, other than death benefits, that have not otherwise been assigned, will be paid to

The insured

Which of the following is correct regarding selecting a primary care physician in a PPO plan

The insured may choose medical providers not found in the preferred list

An employee is insured under her employer's group life plan. If she terminates her group coverage, which of the following statements is INCORRECT?

The insured may choose to convert to term or permanent individual coverage.

The policyowner of a universal life policy may skip paying the premium and the policy will not lapse as long as

The policy contains sufficient cash value to cover the cost of insurance.

An HSA holder who is 65 years old decides to use the money in the account for a nonhealth expense. Which of the following is true?

There will be a tax

What is the purpose of settlement options

They determine how death proceeds will be paid

How soon following the occurrence of a covered loss must an insured submit written proof of such loss to the insurance company?

Within 90 days or as soon as reasonably possible, but not to exceed 1 year

All of the following are legitimate reasons for a group health insurance policy nonrenewal EXCEPT

any misrepresentation by the plan sponsor on the application for insurance

Which of the following is true of benefits provided in health insurance policy for insureds that are diagnosed with diabetes

benefits may be subject to deductibles and copayments not greater than those applied to any other covered illness

Which of the following is not provided by an HMO

reimbursement