Health Insurance State Exam Simulator Questions and Answers 100% Pass

Health Insurance State Exam Simulator Questions and Answers 100% Pass Which of the following does Social Security NOT provide benefits for? Dismemberment The Affordable Care Act (ACA) provides health coverage to dependents up to the age of: 26 What is the excise tax rate the IRS imposes on individuals aged 70 1/2 or older who do not take the required minimum distributions from their qualified retirement plan? 50% Which of the following statements is correct regarding an employer/employee group health plan? the employer receives a master policy and the employees receive certificates A producer's license may be denied, suspended or revoked if the licensee is found guilty of misrepresentation in obtaining the license P is an employee who quits her job and wants to convert her group health coverage to an individual policy. After the aspiration of COBRA laws , which of the following statements is true? She does Not need to provide evidence of insurability. The federal income tax treatment of employer-provided group Medical Expense insurance can be accurately described as: Employee's premiums paid by the employer is tax-deductible to the employer as a business expenditure. Two partners own equal shares in a business worth a total of $1,000,000. If they both commit the purchase of a life insurance policy that will fund a Buy-Sell Agreement, which of the following is true? Each partner owns a $500,000 policy on their partner's life. To be eligible for Social Security disability benefits, an employee must be able to perform: any occupation Group life insurance policies are generally written as annually renewable term An existing life insurance policy is being replaced by a new one. A notice of replacement must be provided by the producer to be signed by the applicant. Which of the following policies is characterized by a flexible premium and death benefit and allows the policy owner control of the investment aspect of the plan? Variable Universal Life Who is not required to sign a life insurance application? Beneficiary L takes out a life insurance policy and dies 10 years later. During the claim process, the insurer discovers that L had understated her age on the application. Under the Misstatement of age provision, the insurer will: adjust the death benefit to a reduced amount An individual working part time has an annual income of $25,000. If this individual has an IRA , what is the maximum deductible IRA contribution allowable? $2,500 Jill is covered under two group health policies , one through her employer and one through her husband's employer. If Jill suffers a loss, which policy provision dictates the primary coverage? Coordination of Benefits coordination