Wisconsin Life, Accident, & Health
Exams Prep. Newest 2026-2027.
Questions and Correct Answers.
Graded A
"Maximum benefits" refers to the
a. upper limit of the total lifetime benefits the insurance company will pay
b. upper limit percentage of what the insurance company will pay for
coinsurance
c. upper limits of what the insured will pay in out-of-pocket expenses
d. upper limits of what an insurance company will pay for any particular
claim - ANSupper limit of the total lifetime benefits the insurance company
will pay
A common exclusion or limitation on a dental policy is:
a. Endodontics
b. Tooth extractions
c. Fluoride treatments
d. X-rays - ANSEndodontics
A disability elimination period is best described as a
a. time deductible
b. dollar deductible
c. eligibility period
1
,d. probation period - ANStime deductible
A family counseling benefit is typically offered under which of these
coverages?
a. Skilled nursing care
b. Respite care
c. Home health care
d. Hospice care - ANSHospice care
A life insurance policy that is paid annually must contain a grace period of
at least _____ days.
a. 10
b. 30
c. 31
d. 45 - ANS31
The grace period for a life insurance policy with an annual premium is
usually 31 days.
A life insurance policy that is subject to a contract interest rate is referred to
as:
a. adjustable life
b. group life
c. term life
d. universal life - ANSuniversal life
A life insurance policyowner sells her policy to a third party in a life
settlement. Under this transaction, the policyowner:
2
,a. must pay income taxes on the full amount received
b. receives an amount more than the policy's death benefit
c. receives the policy's full death benefit
d. receives an amount less than the policy's death benefit - ANSreceives an
amount less than the policy's death benefit
A Medicare Supplement basic benefit is
a. the first 3 pints of blood per year
b. respite care
c. disability income
d. term life insurance - ANSthe first 3 pints of blood per year
A MET third-party administrator may NOT perform which of the following
functions?
a. Claims processing
b. Marketing the plan
c. Underwriting the plan
d. Insuring the plan - ANSMarketing the plan
A non-contributory health insurance plan helps the insurer avoid
a. adverse selection
b. state compliance
c. the underwriting process - ANSadverse selection
A notice of intent to nonrenew a policy by the insurer requires at least how
many days written notice before policy expiration?
a. 30 days
3
, b. 45 days
c. 50 days
d. 60 days - ANS60 days
A partial surrender is allowed in which of the following life policies?
a. Adjustable whole life
b. Universal life
c. Decreasing term life
d. Limited whole life - ANSUniversal life
A plan in which an employer pays insurance benefits from a fund derived
from the employer's current revenues is called:
a. A self-derived plan
b. A multiple-employer plan
c. A blanket plan
d. A self-funded plan - ANSA self-funded plan
A Renewable Term Life Insurance policy can be renewed:
a. at a predetermined date or age, regardless of the insured's health
b. only if the insured provides evidence of insurability
c. anytime at the policyowner's request
d. typically with no change in premium - ANSat a predetermined date or
age, regardless of the insured's health
A rider that assures premiums will be paid on a juvenile policy until the child
reaches a specific age is called a(n)
a. waiver of premium rider
4
Exams Prep. Newest 2026-2027.
Questions and Correct Answers.
Graded A
"Maximum benefits" refers to the
a. upper limit of the total lifetime benefits the insurance company will pay
b. upper limit percentage of what the insurance company will pay for
coinsurance
c. upper limits of what the insured will pay in out-of-pocket expenses
d. upper limits of what an insurance company will pay for any particular
claim - ANSupper limit of the total lifetime benefits the insurance company
will pay
A common exclusion or limitation on a dental policy is:
a. Endodontics
b. Tooth extractions
c. Fluoride treatments
d. X-rays - ANSEndodontics
A disability elimination period is best described as a
a. time deductible
b. dollar deductible
c. eligibility period
1
,d. probation period - ANStime deductible
A family counseling benefit is typically offered under which of these
coverages?
a. Skilled nursing care
b. Respite care
c. Home health care
d. Hospice care - ANSHospice care
A life insurance policy that is paid annually must contain a grace period of
at least _____ days.
a. 10
b. 30
c. 31
d. 45 - ANS31
The grace period for a life insurance policy with an annual premium is
usually 31 days.
A life insurance policy that is subject to a contract interest rate is referred to
as:
a. adjustable life
b. group life
c. term life
d. universal life - ANSuniversal life
A life insurance policyowner sells her policy to a third party in a life
settlement. Under this transaction, the policyowner:
2
,a. must pay income taxes on the full amount received
b. receives an amount more than the policy's death benefit
c. receives the policy's full death benefit
d. receives an amount less than the policy's death benefit - ANSreceives an
amount less than the policy's death benefit
A Medicare Supplement basic benefit is
a. the first 3 pints of blood per year
b. respite care
c. disability income
d. term life insurance - ANSthe first 3 pints of blood per year
A MET third-party administrator may NOT perform which of the following
functions?
a. Claims processing
b. Marketing the plan
c. Underwriting the plan
d. Insuring the plan - ANSMarketing the plan
A non-contributory health insurance plan helps the insurer avoid
a. adverse selection
b. state compliance
c. the underwriting process - ANSadverse selection
A notice of intent to nonrenew a policy by the insurer requires at least how
many days written notice before policy expiration?
a. 30 days
3
, b. 45 days
c. 50 days
d. 60 days - ANS60 days
A partial surrender is allowed in which of the following life policies?
a. Adjustable whole life
b. Universal life
c. Decreasing term life
d. Limited whole life - ANSUniversal life
A plan in which an employer pays insurance benefits from a fund derived
from the employer's current revenues is called:
a. A self-derived plan
b. A multiple-employer plan
c. A blanket plan
d. A self-funded plan - ANSA self-funded plan
A Renewable Term Life Insurance policy can be renewed:
a. at a predetermined date or age, regardless of the insured's health
b. only if the insured provides evidence of insurability
c. anytime at the policyowner's request
d. typically with no change in premium - ANSat a predetermined date or
age, regardless of the insured's health
A rider that assures premiums will be paid on a juvenile policy until the child
reaches a specific age is called a(n)
a. waiver of premium rider
4
