LAH05
*
c. waives premiums if the insured is totally disabled for a specified period - ANS-The waiver of
premium provision in health insurance policies
a. requires that any waived premiums be paid when a disability ceases
b. provides for periodic payments to the insured for expenses incurred during a period of
disability
c. waives premiums if the insured is totally disabled for a specified period
d. none of the above
*
d. no, rebating - ANS-As a marketing tool, Ted, a health insurance agent, offered to send an
applicant and his wife on a weekend vacation to a local resort to induce the applicant to
purchase a policy. Is this practice permitted and, if not, what is it called
a. no; bait and switch
b. no; twisting
c. yes, it is perfectly acceptable
d. no; rebating
* - ANS-The two basic parts of the medicare program are
a. hospital service and home health
b. hospital insurance and medical insurance
c. inpatient hospital services and outpatient services
hospital benefits and disability benefits
*c - ANS-Employer-paid premiums for employee group health insurance are generally
a. tax deductible to the employer
b. nontaxable to the employees
c. both a & b
d. neither a nor b
a. 15 years of age - ANS-In Mississippi, minora attain a legal right to contract for life & health
insurance on their own lives upon reaching
a. 15 yrs of age
b. 16 yrs of age
c. 17 yrs of age
d. 18 yrs of age
a. a fine of up to $5,000 - ANS-The general penalty for violating any provision of the insurance
code for which a different penalty is not specifically provided is
a. a fine of up to $5,000
,b. a fine of up to $2,500
c. a fine of up to $1,000
d. a fine of up to $500
a. a licensed producer - ANS-It is unlawful for an insurance producer to give any valuable
consideration or pay a referral fee to
a. a licensed producer
b. a licensed insurance solicitor
c. a person not duly licensed as a producer
d. an unlicensed employee of a producer when the employee refers a prospective insured to a
producer
a. absolute assignment - ANS-An assignment in which the assignee receives full control over
the policy is called a(n)
a. absolute assignment
b. collateral assignment
c. guaranteed assignment
d. revocable assignment
a. advertise without the intent to solicit on behalf of the insurance company
ex: "Jake with State Farm" "Flo with Progressive" - ANS-A person must be licensed to do all of
the following except
a. advertise without the intent to solicit on behalf of the insurance company
b. attempts to urge a person to buy from a particular company
c. exchange an insurance contract for money on behalf of an insurance company
d. negotiate the terms of an insurance contract on behalf of an insurance company
a. business overhead expense - ANS-Insurance that covers business expenses to continue
operations when the owner is disabled is called
a. business overhead expense
b. professional liability
c. occupational insurance
d. special risk insurance
a. continuation of health insurance - ANS-The purpose of COBRA requirements concerns
a. continuation of health insurance
b. coordination of health benefits
c. medicare supplement coverage
d. nondiscrimination in group health plans
a. death benefit - ANS-A beneficiary on a life insurance policy will receive what value upon the
death of the insured
a. death benefit
b. surrender value
, c. investment value
d. cash value
a. insurance company - ANS-Which of the following is considered to be an insurer?
a. insurance company
b. insurance agent
c. insurance policyowner
d. beneficiary
a. mutual insurer
bc: - ANS-An incorporated insurer owned by its Policyholders is known as a
a. mutual insurer
b. stock insurer
c. foreign insurer
d. reciprocal insurer
a. never - ANS-When may agents change a policy or waive its provisions according to
Mandatory provision 1
a. never
b. with the approval and signatures of the insured and of an executive officer of the insurance
company
c. with the approval and signature of the insured
d. with the approval and signature of an executive officer of the insurance company
a. noncancelable - ANS-A health or disability insurance policy that may not be changed in any
way by the insurer and for which the insurer cannot terminate or refuse continuation of coverage
as long as premiums are paid is called
a. noncancelable
b. nonrenewable
c. conditionally renewable
d. optionally renewable
a. own occupation
bc: - ANS-As a professional surgeon, which type of disability coverage would offer the most
liberal definition of benefit triggers for the policy holder if he was to break his hand
a. own occupation
b. any occupation
c. business overhead expense
d. buy-sell agreement
a. payor benefit - ANS-What type of label would be used to describe a situation whereby at the
disability of the policyowner the policy premiums are waived
*
c. waives premiums if the insured is totally disabled for a specified period - ANS-The waiver of
premium provision in health insurance policies
a. requires that any waived premiums be paid when a disability ceases
b. provides for periodic payments to the insured for expenses incurred during a period of
disability
c. waives premiums if the insured is totally disabled for a specified period
d. none of the above
*
d. no, rebating - ANS-As a marketing tool, Ted, a health insurance agent, offered to send an
applicant and his wife on a weekend vacation to a local resort to induce the applicant to
purchase a policy. Is this practice permitted and, if not, what is it called
a. no; bait and switch
b. no; twisting
c. yes, it is perfectly acceptable
d. no; rebating
* - ANS-The two basic parts of the medicare program are
a. hospital service and home health
b. hospital insurance and medical insurance
c. inpatient hospital services and outpatient services
hospital benefits and disability benefits
*c - ANS-Employer-paid premiums for employee group health insurance are generally
a. tax deductible to the employer
b. nontaxable to the employees
c. both a & b
d. neither a nor b
a. 15 years of age - ANS-In Mississippi, minora attain a legal right to contract for life & health
insurance on their own lives upon reaching
a. 15 yrs of age
b. 16 yrs of age
c. 17 yrs of age
d. 18 yrs of age
a. a fine of up to $5,000 - ANS-The general penalty for violating any provision of the insurance
code for which a different penalty is not specifically provided is
a. a fine of up to $5,000
,b. a fine of up to $2,500
c. a fine of up to $1,000
d. a fine of up to $500
a. a licensed producer - ANS-It is unlawful for an insurance producer to give any valuable
consideration or pay a referral fee to
a. a licensed producer
b. a licensed insurance solicitor
c. a person not duly licensed as a producer
d. an unlicensed employee of a producer when the employee refers a prospective insured to a
producer
a. absolute assignment - ANS-An assignment in which the assignee receives full control over
the policy is called a(n)
a. absolute assignment
b. collateral assignment
c. guaranteed assignment
d. revocable assignment
a. advertise without the intent to solicit on behalf of the insurance company
ex: "Jake with State Farm" "Flo with Progressive" - ANS-A person must be licensed to do all of
the following except
a. advertise without the intent to solicit on behalf of the insurance company
b. attempts to urge a person to buy from a particular company
c. exchange an insurance contract for money on behalf of an insurance company
d. negotiate the terms of an insurance contract on behalf of an insurance company
a. business overhead expense - ANS-Insurance that covers business expenses to continue
operations when the owner is disabled is called
a. business overhead expense
b. professional liability
c. occupational insurance
d. special risk insurance
a. continuation of health insurance - ANS-The purpose of COBRA requirements concerns
a. continuation of health insurance
b. coordination of health benefits
c. medicare supplement coverage
d. nondiscrimination in group health plans
a. death benefit - ANS-A beneficiary on a life insurance policy will receive what value upon the
death of the insured
a. death benefit
b. surrender value
, c. investment value
d. cash value
a. insurance company - ANS-Which of the following is considered to be an insurer?
a. insurance company
b. insurance agent
c. insurance policyowner
d. beneficiary
a. mutual insurer
bc: - ANS-An incorporated insurer owned by its Policyholders is known as a
a. mutual insurer
b. stock insurer
c. foreign insurer
d. reciprocal insurer
a. never - ANS-When may agents change a policy or waive its provisions according to
Mandatory provision 1
a. never
b. with the approval and signatures of the insured and of an executive officer of the insurance
company
c. with the approval and signature of the insured
d. with the approval and signature of an executive officer of the insurance company
a. noncancelable - ANS-A health or disability insurance policy that may not be changed in any
way by the insurer and for which the insurer cannot terminate or refuse continuation of coverage
as long as premiums are paid is called
a. noncancelable
b. nonrenewable
c. conditionally renewable
d. optionally renewable
a. own occupation
bc: - ANS-As a professional surgeon, which type of disability coverage would offer the most
liberal definition of benefit triggers for the policy holder if he was to break his hand
a. own occupation
b. any occupation
c. business overhead expense
d. buy-sell agreement
a. payor benefit - ANS-What type of label would be used to describe a situation whereby at the
disability of the policyowner the policy premiums are waived
