Minnesota State License Exam
the health insurance program which is administered by each state and
funded by both the federal and state governments is called :
long-term care
medicaid
medicare supplemental program
medicare -Correct AnswerCorrect Answer ✔ ✔ medicaid
The phrase "this policy will only pay for a semi-private room" is an
example of
maximum policy limit
internal limit
stop loss
,participation percentage -Correct AnswerCorrect Answer ✔ ✔
internal limit
Which of the following services is NOT covered under a hospitalization
expense policy?
daily room and board
surgeons fees
intensive care
miscellaneous expenses -Correct AnswerCorrect Answer ✔ ✔
surgeons fees
What is being delivered during a policy delivery?
a binding receipt to the proposed insured
insurance contract to the proposed insured
application and initial premium to the insurer
,policy summary sheet and disclosure material to the proposed insured
-Correct AnswerCorrect Answer ✔ ✔ insurance contract to the
proposed insured
Information obtained from a phone conversation to the proposed
insured can be found in which of these reports?
agents report
MIB report
inspection report
attending physicians report -Correct AnswerCorrect Answer ✔ ✔
inspection report
The benefits under a Disability Buy-Out policy are:
normally paid in installments
taxable to the beneficiary
payable to the company or another shareholder
, normally paid after a short elimination period -Correct AnswerCorrect
Answer ✔ ✔ payable to the company or another shareholder
A business disability buyout plan policy is designed:
as an incurred expense plan
with a very short elimination period
to pay benefits to the corporation or other shareholders
to pay benefits to the insureds spouse -Correct AnswerCorrect Answer
✔ ✔ to pay benefits to the corporation or other shareholders
Which of the following statements is true about most Blue Cross/Blue
Shield organizations?
they are the same as private insurance companies
they are federally sponsored
they are nonprofit organizations
the health insurance program which is administered by each state and
funded by both the federal and state governments is called :
long-term care
medicaid
medicare supplemental program
medicare -Correct AnswerCorrect Answer ✔ ✔ medicaid
The phrase "this policy will only pay for a semi-private room" is an
example of
maximum policy limit
internal limit
stop loss
,participation percentage -Correct AnswerCorrect Answer ✔ ✔
internal limit
Which of the following services is NOT covered under a hospitalization
expense policy?
daily room and board
surgeons fees
intensive care
miscellaneous expenses -Correct AnswerCorrect Answer ✔ ✔
surgeons fees
What is being delivered during a policy delivery?
a binding receipt to the proposed insured
insurance contract to the proposed insured
application and initial premium to the insurer
,policy summary sheet and disclosure material to the proposed insured
-Correct AnswerCorrect Answer ✔ ✔ insurance contract to the
proposed insured
Information obtained from a phone conversation to the proposed
insured can be found in which of these reports?
agents report
MIB report
inspection report
attending physicians report -Correct AnswerCorrect Answer ✔ ✔
inspection report
The benefits under a Disability Buy-Out policy are:
normally paid in installments
taxable to the beneficiary
payable to the company or another shareholder
, normally paid after a short elimination period -Correct AnswerCorrect
Answer ✔ ✔ payable to the company or another shareholder
A business disability buyout plan policy is designed:
as an incurred expense plan
with a very short elimination period
to pay benefits to the corporation or other shareholders
to pay benefits to the insureds spouse -Correct AnswerCorrect Answer
✔ ✔ to pay benefits to the corporation or other shareholders
Which of the following statements is true about most Blue Cross/Blue
Shield organizations?
they are the same as private insurance companies
they are federally sponsored
they are nonprofit organizations
