Practice exam 9 & up missed questions

Ace your homework & exams now with Quizwiz!

6 months

Each violation of the insurance code can result in fines up to $1000 or imprisonment for: A. 3 months B. 6 months C. 9 months D. 12 months

30 months

Employee health plans must provide coverage for individuals with ends stage renal disease before Medicare becomes primary for how many months?

Cost containment

Hospital only pay for pain killers, not procedure

6 months (It guarantees the applicant the right to buy medigap once they first signs up for medicare part B)

How long is an open enrollment period for Medicare supplement policies? A. 6 months B. 1 year C. 30 days D. 90 days

5 years

If a carrier decides to nonrenew all of its health benefit plans delivered or issued for delivery in this state, The carrier will not be allowed to write new business in the individual market for at least: A. 1 year B. 3 years C. 5 years D. 10 yeara

30 days

If we look. On a Medicare supplement policy must be at least: A. 10 days B. 15 days C. 30 days D. 60 days

Stop-loss

In major medical insurance policies, when the insured's share of coinsurance reaches a certain amount, the insured is no longer obligated to pay it. This feature is known as: A. Coordination of benefits B. Stop-loss C. Maximum benefits D. Deductible

NO

Key person disability income insurance. Are the premiums tax deductible as a business expense?

Not tax deductible

Premium payments for personally owned disability income policies are: A. Tax deductible to the extent that they exceed 10% of the adjusted gross income of those itemizing deductions B. Not tax deductible C. Eligible for tax credits D. Tax deductible

50/50 (The first number is the amount that will be paid by the insurer. The less the insurer must pay with coinsurance payments, the lower the premiums will be.)

Ray has individual major medical policy that requires a coinsurance payment. Ray very rarely visit his physician and would prefer to pay the lowest premium possible. Which coinsurance arrangement would be best for Ray? A. 50/50 B. 75/25 C. 80/20 D. 90/10

30 days

The director issues an order to an insurer and immediately received a request for the charges to be reviewed in court. Within what number of days must the hearing be held? A. 15 days B. 30 days C. 45 days D. 60 days

The method of premium payment (The insuring clause, usually on the first page of the policy, is the general statement that defines the insurance agreement and identifies the insured and the insurance company and states what kind of loss is covered)

The insuring clause of a disability policy usually states all of the following except: A. The method of premium payment B. The identities of the insurance company and the insured C. The insurance against loss is provided D. The types of losses covered

Casualty

The life and disability insurance guaranty association maintains funds in all of the following types of accounts, Except: A. Disability B. Casualty C. Life D. Annuities

6 credits (currently insured=partially insured)

To attain currently insured status under SS, a worker must have earned at least how many credits during the last 13 quarters? A. 4 credits B. 6 credits C. 10 credits D. 40 credits

2

What is the minimum number of eligible employees that a small employer can have?

Master policy

What is the policy called in group insurance?

Nov-jan

When is the annual open enrollment for state insurance exchanges?

C. When the premium is paid at the time of application

When is the insurability conditional receipt given? A. When an insured individual needs to obtain an insurability receipt for tax purposes B. If the application is approved before the premium is paid C. When the premium is paid at the time of application D. After the application has been approved and the premium has been paid

1

An insureds disability income policy includes an additional monthly benefit rider. For how many years can the insured expect to receive payment from the insurer before Social Security benefits begin? A. 5 B. 3 C. 2 D. 1

Without receiving written consent from an insurance regulatory authority

Federal law makes it illegal for an individual convicted of a crime involving dishonesty or breach of trust to work in the business of insurance affecting interstate commerce: A. Under any circumstances B. Unless they have served an appropriate prison sentence C. Without receiving written consent from a federal judge D. Without receiving written consent from an insurance regulatory authority

Implied

Which authority is NOT stated in an agents contract but is required for the agent to conduct business: A. Apparent B. Assumed C. Express D. Implied

Care can be provided outside of the service area (HMO's provide care In and out of the service area)

Which of the following is true regarding inpatient hospital care for HMO members? A. Inpatient hospital care is not part of HMO services. B. Care can be provided outside of the service area. C. Care can only be provided in the service area. D. Services for treatment of mental disorders are unlimited.


Related study sets

Intro To Business EGGC Online Chapters 1 & 2 Test

View Set

NURS (FUNDAMENTAL): Ch 37 NCLEX Bowel Elimination

View Set

Psychology- Chapter 1 Scientific Method

View Set