MEDICARE SUPPLEMENT AND LONG
TERM CARE INSURANCE LICENSING
UPDATED ACTUAL QUESTIONS AND
CORRECT ANSWERS
●● An insurer may exclude coverage for a preexisting condition on a
Medicare Supplement policy for up to
Answer: 6 months
●● An insured has a LTC policy that has been in force for 3 months. In
how many more months will the policy become incontestable on the
grounds of misrepresentation alone?
Answer: 21 months
●● Every agent soliciting Medicare Supplements must provide a(n)
Answer: Suitability Form
●● Which of North Carolina's Medicare-Aid programs provides the
greatest level of benefits?
Answer: The MQB-Q Special Program for dual eligibles
, ●● If an insurer collected $1 million worth of premiums on a certain
class of individual Medigap policies, what amount must be returned to
owners of those policies in the form of benefits?
Answer: $650,000
●● If a LTC insurance policy does not cover a specified percentage of
actual charges, insurers are required to offer inflation protection that
allows benefits to increase at a rate of at least what percentage?
Answer: 5%
●● When a Medicare supplement policy is purchased during the open
enrollment period, the policy must be issued regardless of
Answer: Health Status
●● What must the applicant receive in order to help improve the
selection of coverage and help the buyer fully understand Medicare?
Answer: Informational Brochure (Buyers guide)
●● How often must insurers in North Carolina file their Medicare
supplement policy rates and rating schedules with the Commissioner?
Answer: Annually
●● A long-term care insurance policy issued in North Carolina cannot
exclude coverage or limit benefits for which of the following?
TERM CARE INSURANCE LICENSING
UPDATED ACTUAL QUESTIONS AND
CORRECT ANSWERS
●● An insurer may exclude coverage for a preexisting condition on a
Medicare Supplement policy for up to
Answer: 6 months
●● An insured has a LTC policy that has been in force for 3 months. In
how many more months will the policy become incontestable on the
grounds of misrepresentation alone?
Answer: 21 months
●● Every agent soliciting Medicare Supplements must provide a(n)
Answer: Suitability Form
●● Which of North Carolina's Medicare-Aid programs provides the
greatest level of benefits?
Answer: The MQB-Q Special Program for dual eligibles
, ●● If an insurer collected $1 million worth of premiums on a certain
class of individual Medigap policies, what amount must be returned to
owners of those policies in the form of benefits?
Answer: $650,000
●● If a LTC insurance policy does not cover a specified percentage of
actual charges, insurers are required to offer inflation protection that
allows benefits to increase at a rate of at least what percentage?
Answer: 5%
●● When a Medicare supplement policy is purchased during the open
enrollment period, the policy must be issued regardless of
Answer: Health Status
●● What must the applicant receive in order to help improve the
selection of coverage and help the buyer fully understand Medicare?
Answer: Informational Brochure (Buyers guide)
●● How often must insurers in North Carolina file their Medicare
supplement policy rates and rating schedules with the Commissioner?
Answer: Annually
●● A long-term care insurance policy issued in North Carolina cannot
exclude coverage or limit benefits for which of the following?
