New York Life, Accident and Health
Kurt is an active duty serviceman who was recently killed in an accident while home on leave.
Which military service exclusion clause would pay upon his death?
- active
- status
- results
- leave - ANSresults
A rehabilitation benefit is intended to:
- prepare the insured to return to employment
- minimize the insurers liability
- give the insured time to find a new career
- increase the overall benefits given to the insured - ANSprepare the insured to return to
employment
The elimination period under a hospital indemnity plan is:
- the period in which pre-existing conditions not taken into consideration
- the period in which all deductibles are eliminated
- the specified number of days after an insurance policy's issue date during which coverage is
not afforded for sickness
- the specified numbers of days an insured must wait before becoming eligible to receive
benefits for each hospitalization - ANSthe specified number of days an insured must wait before
becoming eligible to receive benefits for each hospitalization
An example of endodontic treatment is a:
- bridge
- crown
- filling
- root canal - ANSroot canal
A policyowner may exercise which of these dividend options that uses the dividend to pay all or
part of the next premium due?
- reduction of premium dividend option
- extended term option
- paid-up option
- cash dividend option - ANSReduction of premium dividend option
Intentional withholding of material facts that would affect an insurance policy's validity is called
a(n):
- estoppel
- concealment
,- adhesion
- misrepresentation - ANSconcealment
Written notice for a health claim must be given to the insurer ___ days after the occurrence of
the loss.
- 10
- 20
- 31
- 60 - ANS20
Which of these may not be used in a health insurance advertisement:
- a celebrity endorsement
- a statement that highlights coverage amounts
- a paid testimonial
- an insurance company's trademark instead of the company's actual name - ANSAn insurance
company's trademark instead of the company's actual name
An example of an unfair claims settlement practice is:
- making it mandatory that proof of loss be provided for each claim
- failing to promptly provide reasonable explanations for the denial of claims
- requiring a time limit for submitting a claim
- paying a claim in a timely manner - ANSFailing to promptly provide reasonable explanations
for the denial of claims
How are annuities given favorable tax treatment?
- gains are tax deductible
- gains are tax exempt at distribution
- gains are taxed at distribution
- gains are converted to tax credits - ANSGains are taxed at distribution
What are the levels of coverage as defined by the Affordable Care Act?
- 1st, 2nd, 3rd, 4th
- Bronze, Silver, Gold, Platinum
- Substandard, Standard, Preferred, Premium
- PPO, HMO, POS, MET - ANSBronze, Silver, Gold, Platinum
Upon meeting company requirements, a lapsed life insurance policy may be reinstated within
____ year(s):
-2
-3
-4
- 5 - ANS3 years
Which of these would limit a company's liability to provide insurance coverage?
, - Waiver
- Exclusion
- Rider
- Provision - ANSExclusion
Which of the following is NOT true regarding a Critical Illness Plan:
- pays a lump sum to the insured upon the diagnosis of a critical illness
- the insurer may have a list of critical illnesses they will cover
- coverage is limited to a single devastating disease
- Also known as Specified Disease plans - ANSCoverage is limited to a single devastating
disease
A 10% excise tax is normally applied to an early withdrawal from an IRA. According to HIPAA,
this tax will not be applied if the withdrawal is used for medical expenses that exceed ____ of
the individual's adjusted gross income.
- 5%
- 6.5%
- 7.5%
- 8% - ANS7.5%
"Maximum benefits" refers to the:
- upper limit of the total lifetime benefits the insurance company will pay
- upper limit percentage of what the insurance company will pay for coinsurance
- upper limit percentage of what the insured will pay in out-of-pocket expenses
- 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
All of the following are core benefits of Medicare Supplement Plan A except:
- Deductible payments for the first 60 days of hospitalization under Medicare hospitalization
insurance
- Medicare Part A hospice coinsurance/copayment
- Medicare Part B coinsurance/copayment
- the first 3 pints of blood received - ANSDeductible payments for the first 60 days of
hospitalization under Medicare hospitalization insurance
In which of the following relationships would there not be an insurable interest?
- parent to child
- business partner to business partner
- brother to sister
- business owner to business customer - ANSBusiness owner to business customer
When an agent is determining the suitability of an annuity for a client, which of these is NOT
usually taken into consideration?
- financial experience
Kurt is an active duty serviceman who was recently killed in an accident while home on leave.
Which military service exclusion clause would pay upon his death?
- active
- status
- results
- leave - ANSresults
A rehabilitation benefit is intended to:
- prepare the insured to return to employment
- minimize the insurers liability
- give the insured time to find a new career
- increase the overall benefits given to the insured - ANSprepare the insured to return to
employment
The elimination period under a hospital indemnity plan is:
- the period in which pre-existing conditions not taken into consideration
- the period in which all deductibles are eliminated
- the specified number of days after an insurance policy's issue date during which coverage is
not afforded for sickness
- the specified numbers of days an insured must wait before becoming eligible to receive
benefits for each hospitalization - ANSthe specified number of days an insured must wait before
becoming eligible to receive benefits for each hospitalization
An example of endodontic treatment is a:
- bridge
- crown
- filling
- root canal - ANSroot canal
A policyowner may exercise which of these dividend options that uses the dividend to pay all or
part of the next premium due?
- reduction of premium dividend option
- extended term option
- paid-up option
- cash dividend option - ANSReduction of premium dividend option
Intentional withholding of material facts that would affect an insurance policy's validity is called
a(n):
- estoppel
- concealment
,- adhesion
- misrepresentation - ANSconcealment
Written notice for a health claim must be given to the insurer ___ days after the occurrence of
the loss.
- 10
- 20
- 31
- 60 - ANS20
Which of these may not be used in a health insurance advertisement:
- a celebrity endorsement
- a statement that highlights coverage amounts
- a paid testimonial
- an insurance company's trademark instead of the company's actual name - ANSAn insurance
company's trademark instead of the company's actual name
An example of an unfair claims settlement practice is:
- making it mandatory that proof of loss be provided for each claim
- failing to promptly provide reasonable explanations for the denial of claims
- requiring a time limit for submitting a claim
- paying a claim in a timely manner - ANSFailing to promptly provide reasonable explanations
for the denial of claims
How are annuities given favorable tax treatment?
- gains are tax deductible
- gains are tax exempt at distribution
- gains are taxed at distribution
- gains are converted to tax credits - ANSGains are taxed at distribution
What are the levels of coverage as defined by the Affordable Care Act?
- 1st, 2nd, 3rd, 4th
- Bronze, Silver, Gold, Platinum
- Substandard, Standard, Preferred, Premium
- PPO, HMO, POS, MET - ANSBronze, Silver, Gold, Platinum
Upon meeting company requirements, a lapsed life insurance policy may be reinstated within
____ year(s):
-2
-3
-4
- 5 - ANS3 years
Which of these would limit a company's liability to provide insurance coverage?
, - Waiver
- Exclusion
- Rider
- Provision - ANSExclusion
Which of the following is NOT true regarding a Critical Illness Plan:
- pays a lump sum to the insured upon the diagnosis of a critical illness
- the insurer may have a list of critical illnesses they will cover
- coverage is limited to a single devastating disease
- Also known as Specified Disease plans - ANSCoverage is limited to a single devastating
disease
A 10% excise tax is normally applied to an early withdrawal from an IRA. According to HIPAA,
this tax will not be applied if the withdrawal is used for medical expenses that exceed ____ of
the individual's adjusted gross income.
- 5%
- 6.5%
- 7.5%
- 8% - ANS7.5%
"Maximum benefits" refers to the:
- upper limit of the total lifetime benefits the insurance company will pay
- upper limit percentage of what the insurance company will pay for coinsurance
- upper limit percentage of what the insured will pay in out-of-pocket expenses
- 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
All of the following are core benefits of Medicare Supplement Plan A except:
- Deductible payments for the first 60 days of hospitalization under Medicare hospitalization
insurance
- Medicare Part A hospice coinsurance/copayment
- Medicare Part B coinsurance/copayment
- the first 3 pints of blood received - ANSDeductible payments for the first 60 days of
hospitalization under Medicare hospitalization insurance
In which of the following relationships would there not be an insurable interest?
- parent to child
- business partner to business partner
- brother to sister
- business owner to business customer - ANSBusiness owner to business customer
When an agent is determining the suitability of an annuity for a client, which of these is NOT
usually taken into consideration?
- financial experience
