Utah Producer Life and Health Insurance Final Exam
With Complete questions and correct verified
answers (detailed answers) already graded A+
What is not taken into consideration when determining risk factor in life
insurance underwriting - {✔✔ANSWER✔✔}-
The election of COBRA for continuation of health coverage will -
{✔✔ANSWER✔✔}-Maintain coverage and increase premium
,Ambiguities in an insurance policy are always resolved in favour of the -
{✔✔ANSWER✔✔}-insured
Who typically authorizes treatment from a specialist - {✔✔ANSWER✔✔}-
Gatekeeper?
Funding for Medicare Part B is partially provided by - {✔✔ANSWER✔✔}-
User premium
Settlement options for life policy - {✔✔ANSWER✔✔}-Life income
Lump sum
Fixed Period
During the accumulation period, who can surrender an annuity? -
{✔✔ANSWER✔✔}-policyowner
Index whole life insuracne contains a securities component that acts -
{✔✔ANSWER✔✔}-as a hedge against inflation
In an immediate annuity with a single premium, the annuitant typical recieves
benefi payments within - {✔✔ANSWER✔✔}-1 month
What is it called when the provider is paid for each service given in a health care
plan? - {✔✔ANSWER✔✔}-fee-for-service
, When determining whether a pre-existing health condition applies to a new
company group health plan, you cannot have more than a ___ day gap without
previous health insurance? - {✔✔ANSWER✔✔}-63 days
An applicant's character and personal habits can be obtained for underwriting
purposes from which source? - {✔✔ANSWER✔✔}-Investigative consumer
report
examples of rebating - {✔✔ANSWER✔✔}-Returnign premium to a client as
an inducement for purchasing a policy
Giving something of value to an insured in exchange for their business
Offering special dividends
What would be a valid reason why a policy premium woud be higher than the
standard premium? - {✔✔ANSWER✔✔}-The insured does not meet
established underwriting requirements
Low frequency diseases can be exclusively covered by what kind of health
insurance policies? - {✔✔ANSWER✔✔}-Limited policies
If an insured dies during the grace period with no premiums paid -
{✔✔ANSWER✔✔}-the policy would be payable, minus the premium
ammount
Loans obtained by a policyowner against the cash value of a life insurance policy -
{✔✔ANSWER✔✔}-are treated as taxable income
With Complete questions and correct verified
answers (detailed answers) already graded A+
What is not taken into consideration when determining risk factor in life
insurance underwriting - {✔✔ANSWER✔✔}-
The election of COBRA for continuation of health coverage will -
{✔✔ANSWER✔✔}-Maintain coverage and increase premium
,Ambiguities in an insurance policy are always resolved in favour of the -
{✔✔ANSWER✔✔}-insured
Who typically authorizes treatment from a specialist - {✔✔ANSWER✔✔}-
Gatekeeper?
Funding for Medicare Part B is partially provided by - {✔✔ANSWER✔✔}-
User premium
Settlement options for life policy - {✔✔ANSWER✔✔}-Life income
Lump sum
Fixed Period
During the accumulation period, who can surrender an annuity? -
{✔✔ANSWER✔✔}-policyowner
Index whole life insuracne contains a securities component that acts -
{✔✔ANSWER✔✔}-as a hedge against inflation
In an immediate annuity with a single premium, the annuitant typical recieves
benefi payments within - {✔✔ANSWER✔✔}-1 month
What is it called when the provider is paid for each service given in a health care
plan? - {✔✔ANSWER✔✔}-fee-for-service
, When determining whether a pre-existing health condition applies to a new
company group health plan, you cannot have more than a ___ day gap without
previous health insurance? - {✔✔ANSWER✔✔}-63 days
An applicant's character and personal habits can be obtained for underwriting
purposes from which source? - {✔✔ANSWER✔✔}-Investigative consumer
report
examples of rebating - {✔✔ANSWER✔✔}-Returnign premium to a client as
an inducement for purchasing a policy
Giving something of value to an insured in exchange for their business
Offering special dividends
What would be a valid reason why a policy premium woud be higher than the
standard premium? - {✔✔ANSWER✔✔}-The insured does not meet
established underwriting requirements
Low frequency diseases can be exclusively covered by what kind of health
insurance policies? - {✔✔ANSWER✔✔}-Limited policies
If an insured dies during the grace period with no premiums paid -
{✔✔ANSWER✔✔}-the policy would be payable, minus the premium
ammount
Loans obtained by a policyowner against the cash value of a life insurance policy -
{✔✔ANSWER✔✔}-are treated as taxable income
