L&H EXAM QUESTIONS & ANSWERS
Which of the following is NOT a type of Term Life insurance policy? ✔️✔️Variable
The net amount at risk to the insurance company at the endowment date is: ✔️✔️Zero
Residual disability income pays funds to the insured, to make-up for what the insured would
have earned after returning to work, and while recovering from _______. ✔️✔️Total disability
Most group disability income contracts are offered on a/on: ✔️✔️Nonoccupational basis
Which Term Life insurance policy would have the highest initial premium, all else being equal?
✔️✔️20 year term
Regarding group health insurance, which is true? ✔️✔️The plan sponsor is issued the Master
Policy
All of the following are correct pertaining to Decreasing Term, except: ✔️✔️The premium
declines throughout the term of the policy
Which of the following is a common exclusion in a medical expense plan: ✔️✔️Loss due to
Workers' Compensation
,The _________ was created in order to alert home office underwriters of errors, omissions, or
misrepresentations made on insurance applications? ✔️✔️MIB
All of the following are characteristics of Franchise Insurance, except: ✔️✔️Certificates of
Insurance are issued
The HMO provider is paid a set fee per enrollee, known as: ✔️✔️capitation fee
A group health plan with ______ or more employees is primary to Medicare and pays first.
✔️✔️20
Which of the following might be covered by an FSA, but not an HRA? ✔️✔️Eyeglasses
Optional uniform provisions found in health insurance policies are designed to protect the:
✔️✔️insurer
An initial amount the insured must meet per year before benefits are paid is known as the:
✔️✔️Deductible
What is the easiest and best way to assure that the life insurance policy's death proceeds don't
end up in probate court process? ✔️✔️List a primary and contingent beneficiary by their full
name and relationship to the insured
, All of the following are traits of a fixed annuity, except: ✔️✔️The actual rate of interest
credited will be based on the state-published interest rate index
Consumers must be made aware of all of the following in a replacement sale, except: ✔️✔️The
financial ratings from each rating service
Which of the following will receive the smallest monthly income benefit check if an annuity is
annuitized? ✔️✔️50 year old female
Which statement is incorrect regarding COBRA? ✔️✔️The employee or beneficiary must
respond to the notification of his/her right to continue coverage within 90 days, if he/she wants to
continue the coverage
Which provision provides a loss of earnings benefit to an employee who returns to work after
sustaining a total disability, if the insured's earnings are less than they were before the disability?
✔️✔️Residual disability
All of the following statements regarding a group Accidental death and dismemberment policy
are incorrect, except: ✔️✔️Any benefits received are not taxable to the recipient
Which of the following is NOT a type of Term Life insurance policy? ✔️✔️Variable
The net amount at risk to the insurance company at the endowment date is: ✔️✔️Zero
Residual disability income pays funds to the insured, to make-up for what the insured would
have earned after returning to work, and while recovering from _______. ✔️✔️Total disability
Most group disability income contracts are offered on a/on: ✔️✔️Nonoccupational basis
Which Term Life insurance policy would have the highest initial premium, all else being equal?
✔️✔️20 year term
Regarding group health insurance, which is true? ✔️✔️The plan sponsor is issued the Master
Policy
All of the following are correct pertaining to Decreasing Term, except: ✔️✔️The premium
declines throughout the term of the policy
Which of the following is a common exclusion in a medical expense plan: ✔️✔️Loss due to
Workers' Compensation
,The _________ was created in order to alert home office underwriters of errors, omissions, or
misrepresentations made on insurance applications? ✔️✔️MIB
All of the following are characteristics of Franchise Insurance, except: ✔️✔️Certificates of
Insurance are issued
The HMO provider is paid a set fee per enrollee, known as: ✔️✔️capitation fee
A group health plan with ______ or more employees is primary to Medicare and pays first.
✔️✔️20
Which of the following might be covered by an FSA, but not an HRA? ✔️✔️Eyeglasses
Optional uniform provisions found in health insurance policies are designed to protect the:
✔️✔️insurer
An initial amount the insured must meet per year before benefits are paid is known as the:
✔️✔️Deductible
What is the easiest and best way to assure that the life insurance policy's death proceeds don't
end up in probate court process? ✔️✔️List a primary and contingent beneficiary by their full
name and relationship to the insured
, All of the following are traits of a fixed annuity, except: ✔️✔️The actual rate of interest
credited will be based on the state-published interest rate index
Consumers must be made aware of all of the following in a replacement sale, except: ✔️✔️The
financial ratings from each rating service
Which of the following will receive the smallest monthly income benefit check if an annuity is
annuitized? ✔️✔️50 year old female
Which statement is incorrect regarding COBRA? ✔️✔️The employee or beneficiary must
respond to the notification of his/her right to continue coverage within 90 days, if he/she wants to
continue the coverage
Which provision provides a loss of earnings benefit to an employee who returns to work after
sustaining a total disability, if the insured's earnings are less than they were before the disability?
✔️✔️Residual disability
All of the following statements regarding a group Accidental death and dismemberment policy
are incorrect, except: ✔️✔️Any benefits received are not taxable to the recipient
