Missed Guarantee Exam Problems
regarding health insurance, all of the following are tax-deductible except
employee paid group disability income.
Which of the following are members of and financially support the MIB?
iNSURANCE COMPANIES
Commissioner conducts legal hearing on producer suspected of violationg insurance code. what can commissioner issue?
Cease and desist order
For which of the following reasons may group coverage not be discontinued
Company stock value lowers
which of the following is the distinguishing characteristic of the interest-adjusted net cost method?
Considering the time value of money in comparing life insurance costs
Which of the following is not a common exclusion found in most health policies
Dental procedure due to birth defect
All of the following can be changed by owner of a universal life policy except
Guaranteed Rate of Interest
all of the following are features of catastrophic plans except
High Premiums
What does Guaranty Association guard against
Insurer insolvency
all of the following are true about non participating policies except
Nonparticipating policies issue dividends to policy owners
If life insurance company uses hi testing, when must an applicant be notified of the procedure?
Prior to performance of the test
Considering principle of liquidity, how would the policy owner use today's cash values in a life insurance policy
Use it for emergency expenses
WHICH WOULD BE TRUE OF BOTH THE FIXED-PERIOD AND FIXED-AMOUNT SETTLEMENT OPTIONS?
both guarantee that the principal and interest will fully be paid out
Which entity has option of including optional provisions in a health insurance policy?
Insurer
which is not true regarding noncancellable policy
Insurer can increase premium above what is stated in the policy if claims experience is greater than expected
Which of the following is provided by skilled medical personnel who need occasional medical assistance
Intermediate Care
Omnibus reconciliation Act of 1990 requires
Large group health plans must provide primary coverage for disabled individuals under age 65 who are not retired
employee is on extended loa when employer group health plan changes. what will employee notice when they return to work?
Limited coverage
which dividend option will increase death benefit
Paid-up Additions
What is another term for health insurance policy subscriber
Participant
Guaranteed insurability rider allows the owner to purchase additional amounts of life insurance without proof of insurability at all except
Purchase of a new home
What type of insurer uses formal sharing agreement?
Reciprocal
In contrasting stock insurers with mutual insurers, which statement is true
Stock insurers are owned by the shareholders, and issue non participating policies
All of the following are characteristics of group health insurance plans except
The parties that hold a group health insurance contract are the employees and the employer
how is a liscensee' date of continuing education credit review determined
by licensees month and date of birth
what advantage does the recurrent disability provision provide to the insured under a disability income policy?
eliminates imposition of a second elmination for the same disability
all are reasons for group insurance termination except
The dependents reach age 21
If the annuitant dies before the annuity date begins...
The interest is taxable
which of the following describes relationship between a capital sum and principal sum
capital sums are percentages of principal sums
Which is not correct concerning taxation of disability income benefits?
If paid by the individual, the premiums are tax deductible
All of the following are true of a multiple employer trust except
employee has a right of conversion upon leaving the group coverage
Under notice of claim written notice of claim must be submitted to the insurer within in...
20 days
Commissioner has determined producer is ineligible for appointment by the insurer. he must notify insurer within...
5 days
employee that becomes ineligible for group coverage must exercise extension of benefits under cobra within
60 days
Which of the following scenarios would a producer be allowed to obtain insurance through an unauthorized insurer?
If there are no authorized insurers for a specific type of coverage in this state
Which of the following conditions would life insurance proceeds be taxable by fed govt?
If there is a transfer for value
Which of the following is not a crucial factor in health insurance underwriting?
Income
Which is not a medicaid qualifier
Insurability
Which of loses would likely be covered under the accidental death rider?
Insurance company will pay the claim according to the benefits if the correct premium had been paid
man switches from being a lawyer to a bungee jumper and files a claim. what happens?
Insurance company will pay the claim according to the benefits if the correct premium had been paid
All of the following are true of credit life except
Insured names the beneficiary
Purpose of gatekeeper in HMO
cONTROLLING COSTS
Human life value approach to determine life insurance needs is based upon
loss of the breadwinner's income
Insured falls down flight of stairs and is disabled. Is it possible for the policy to include waiver of cost of insurance rider?
no
How many hour of continuing education are required to maintain a counselors license?
none
When may HIV-related test results be provided to the MIB?
oNLY IF THE INDIVIDUAL IS NOT IDENTIFIED
which of the following is a requirement for replacement of health policies
old policy must stay in force until the new policy is issued
Utilization management consists of an evaluation of the appropriateness , necessity and
prospective and concurrent review
which rem relates to disability income insurance
residual benefit
Upon the surrender of a life insurance policy any cash value accumulated in excess of the premiums is
taxed as ordinary income
In group health insurance, what is experience rating?
when an insurer uses the experience of the group as a whole to determine the premiums
which would be an example of policy replacement
A term policy expires, and the insured buys another term life policy
