Kentucky Health Insurance Exam Questions and
Correct Answers | Highly Most Frequently Tested
Questions and 100% Accurate | Graded A+ , Reviewed
and Well Revised | Well Elaborated and Latest Update
| Latest Exam and Newest Version!!!
What type of insurance covers unnamed people by activity, such as a soccer
league's players during games?
Correct Answer:
Blanket insurance
What is it called when members of a bar association receive individual health
policies at a group discount?
Correct Answer:
Franchise (wholesale) insurance
Who does credit health insurance pay benefits to?
Correct Answer:
The creditor (lender)
What type of policy pays a flat $300/day for hospitalization regardless of actual
charges?
Correct Answer:
Hospital indemnity insurance
What is a cancer-only policy that pays scheduled benefit amounts called?
Correct Answer:
Specified disease (dread disease) policy
,What type of policy would NOT cover pneumonia requiring hospitalization?
Correct Answer:
Accident-only policy
What does a 'master contract' with certificates to employees describe?
Correct Answer:
Group insurance
What describes individual policies issued to members of a group?
Correct Answer:
Franchise insurance
What is the maximum coverage for credit disability coverage?
Correct Answer:
The outstanding loan balance or loan term
What is the difference between indemnity payment and reimbursement
payment?
Correct Answer:
Indemnity = fixed amount; Reimbursement = actual cost or max, whichever is
less
What is a requirement for a group to exist in relation to insurance?
Correct Answer:
A group cannot exist solely for the purpose of buying insurance
What type of insurance covers airline passengers under a single policy during
their flight?
Correct Answer:
Blanket insurance
How many days must a change of address be reported to the Commissioner?
Correct Answer:
30 days
How long must an agency appointment be filed within?
,Correct Answer:
15 days
How many days must an agency termination notice be filed within?
Correct Answer:
30 days
How many continuing education hours are required per biennium in Kentucky?
Correct Answer:
24 hours (3 must be ethics)
How often does a Kentucky producer license renew?
Correct Answer:
Every 2 years
What is the minimum age for obtaining a Kentucky producer license?
Correct Answer:
Age 18
How many pre-licensing hours are required per line of authority?
Correct Answer:
20 hours
What is the civil penalty per violation for an insurance agent?
Correct Answer:
$1,000
What is the civil penalty per violation for an insurer or HMO?
Correct Answer:
$10,000
What is the civil penalty per violation for adjusters or consultants?
Correct Answer:
$2,000
What is the Kentucky Guaranty limit for major medical?
, Correct Answer:
$500,000
What is the Kentucky Guaranty limit for annuity benefits?
Correct Answer:
$250,000
What is the Kentucky Guaranty limit for death benefits or disability/LTC?
Correct Answer:
$300,000
What is the Kentucky Guaranty limit for cash surrender values or other health?
Correct Answer:
$100,000
What is the free look period for Medicare Supplements in Kentucky?
Correct Answer:
30 days
What is the free look period for standard health insurance?
Correct Answer:
10 days
How long must general advertisements be retained?
Correct Answer:
3 years
How long must transaction records be retained after policy expiration?
Correct Answer:
5 years
How long must LTC advertisements be retained?
Correct Answer:
5 years
Correct Answers | Highly Most Frequently Tested
Questions and 100% Accurate | Graded A+ , Reviewed
and Well Revised | Well Elaborated and Latest Update
| Latest Exam and Newest Version!!!
What type of insurance covers unnamed people by activity, such as a soccer
league's players during games?
Correct Answer:
Blanket insurance
What is it called when members of a bar association receive individual health
policies at a group discount?
Correct Answer:
Franchise (wholesale) insurance
Who does credit health insurance pay benefits to?
Correct Answer:
The creditor (lender)
What type of policy pays a flat $300/day for hospitalization regardless of actual
charges?
Correct Answer:
Hospital indemnity insurance
What is a cancer-only policy that pays scheduled benefit amounts called?
Correct Answer:
Specified disease (dread disease) policy
,What type of policy would NOT cover pneumonia requiring hospitalization?
Correct Answer:
Accident-only policy
What does a 'master contract' with certificates to employees describe?
Correct Answer:
Group insurance
What describes individual policies issued to members of a group?
Correct Answer:
Franchise insurance
What is the maximum coverage for credit disability coverage?
Correct Answer:
The outstanding loan balance or loan term
What is the difference between indemnity payment and reimbursement
payment?
Correct Answer:
Indemnity = fixed amount; Reimbursement = actual cost or max, whichever is
less
What is a requirement for a group to exist in relation to insurance?
Correct Answer:
A group cannot exist solely for the purpose of buying insurance
What type of insurance covers airline passengers under a single policy during
their flight?
Correct Answer:
Blanket insurance
How many days must a change of address be reported to the Commissioner?
Correct Answer:
30 days
How long must an agency appointment be filed within?
,Correct Answer:
15 days
How many days must an agency termination notice be filed within?
Correct Answer:
30 days
How many continuing education hours are required per biennium in Kentucky?
Correct Answer:
24 hours (3 must be ethics)
How often does a Kentucky producer license renew?
Correct Answer:
Every 2 years
What is the minimum age for obtaining a Kentucky producer license?
Correct Answer:
Age 18
How many pre-licensing hours are required per line of authority?
Correct Answer:
20 hours
What is the civil penalty per violation for an insurance agent?
Correct Answer:
$1,000
What is the civil penalty per violation for an insurer or HMO?
Correct Answer:
$10,000
What is the civil penalty per violation for adjusters or consultants?
Correct Answer:
$2,000
What is the Kentucky Guaranty limit for major medical?
, Correct Answer:
$500,000
What is the Kentucky Guaranty limit for annuity benefits?
Correct Answer:
$250,000
What is the Kentucky Guaranty limit for death benefits or disability/LTC?
Correct Answer:
$300,000
What is the Kentucky Guaranty limit for cash surrender values or other health?
Correct Answer:
$100,000
What is the free look period for Medicare Supplements in Kentucky?
Correct Answer:
30 days
What is the free look period for standard health insurance?
Correct Answer:
10 days
How long must general advertisements be retained?
Correct Answer:
3 years
How long must transaction records be retained after policy expiration?
Correct Answer:
5 years
How long must LTC advertisements be retained?
Correct Answer:
5 years
