Georgia Life and Health Insurance EXAM QUESTIONS WITH ANSWERS

Georgia Life and Health Insurance EXAM |\ |\ |\ |\ |\ |\




QUESTIONS WITH ANSWERS |\ |\




Accident - CORRECT ANSWERS ✔✔An unplanned unforseen event
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which occurs suddenly at an unspecified place
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Accident insurance - CORRECT ANSWERS ✔✔A type of insurance
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that protects the insured against loss due to an accidental bodily
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injury


Accidental bodily injury - CORRECT ANSWERS ✔✔Unplanned
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unforseen traumatic injury to the body
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Accidental Death and Dismemberment - CORRECT ANSWERS
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✔✔An insurance policy which pays a specified number or
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specified multiple of the insurer's benefit if the insured dies, loses
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his/her sight, or loses two limbs due to an accident.
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Acquired Immunodeficiency Symdrome - CORRECT ANSWERS
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✔✔An infectious and incurable disease caused by the human
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immunodeficiency virus (hiv) |\ |\




Activities of daily living - CORRECT ANSWERS ✔✔Activities
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individuals must do every day such as moving about, getting
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dressed, eating, bathing, etc.
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,Actual charge - CORRECT ANSWERS ✔✔The amount a physician
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or supplier actually bills for a particular service or supply.
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Adhesion - CORRECT ANSWERS ✔✔A contract offered on a "take
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it or leave it" basis by an insured, in which the insured's only
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option is to accept or reject the contract. Any ambiguities in the
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contract will be settled in favor of the imsured.
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Admitted (Authorized) Insurer - CORRECT ANSWERS ✔✔An
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insurance company authorized and licensed to transact business
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in a particular state.
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Adult Day Care - CORRECT ANSWERS ✔✔A program for impaired
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adults that attempts to meet their health, social, and functional
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needs in a setting away from their homes.
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Adverse Selection - CORRECT ANSWERS ✔✔The tendency of risks
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witha higher probability of loss to purchase and maintain
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insurance more often than the risks who present lower probability
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Agent - CORRECT ANSWERS ✔✔An individual who is licensed to
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sell, negotiate, or effect insurance contracts on behalf of an
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insurer.


Aleatory - CORRECT ANSWERS ✔✔A contract in which
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participating parties exchange unequal amounts. Insurance |\ |\ |\ |\ |\ |\


contracts are aleatory in that the amount the insured will pay in
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premiums is unequal to the amount the insurer will pay in the
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event of a loss. |\ |\ |\

,Alien Insurer - CORRECT ANSWERS ✔✔An insurance company
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that is incorporated outside the United States.
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Alzheimer's Disease - CORRECT ANSWERS ✔✔A disease that |\ |\ |\ |\ |\ |\ |\ |\


causes the victim to become dysfunctional due to degeneration
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of brain cells and severe memory loss.
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Ancillary - CORRECT ANSWERS ✔✔Additional, miscellaneous
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services provided by a hospital, such as x-rays, anesthesia, and
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lab work, but not hospital room and board expenses.
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Apparent Authority - CORRECT ANSWERS ✔✔The appearance or
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the assumption of authority based on the actions, words, or
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deeds of the principal or because of circumstances the principal
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created.


Approved Amount - CORRECT ANSWERS ✔✔The amount Medicare
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determines to be reasonable for a service that is covered under
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part B of Medicare. |\ |\ |\




Assignment - CORRECT ANSWERS ✔✔A claim to a provider or |\ |\ |\ |\ |\ |\ |\ |\ |\ |\


medical supplier to receive payments directly from Medicare.
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Attained Age - CORRECT ANSWERS ✔✔The age of the insured at
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a determined date.
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, Attending Physician Statement (APS) - CORRECT ANSWERS ✔✔A
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statement usually obtained from the applicant's doctor.
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Avoidance - CORRECT ANSWERS ✔✔A method of dealing with risk
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(e.g. if a person wanted to avoid the risk of being killed in an
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airplane crash, he/she might choose never to fly in a plane).
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Basic Hospital Expense Insurance - CORRECT ANSWERS
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✔✔Coverage that provides benefits for room, board and |\ |\ |\ |\ |\ |\ |\ |\


miscellaneous hospital expenses for a certain number of days |\ |\ |\ |\ |\ |\ |\ |\ |\


during a hospital stay. |\ |\ |\




Basic Medical Expense Insurance - CORRECT ANSWERS
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✔✔Coverage for doctor visits, x-rays, lab tests, and emergency |\ |\ |\ |\ |\ |\ |\ |\ |\


room visits; benefits, however, are limited to specified dollar
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amounts.


Beneficiary - CORRECT ANSWERS ✔✔The person who receives |\ |\ |\ |\ |\ |\ |\ |\


the proceeds from the policy when the insured dies.
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Benefit Period - CORRECT ANSWERS ✔✔The length of time over
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which the insurance benefits will be paid for each illness,
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disability, or hospital stay |\ |\ |\




Birthday Rule - CORRECT ANSWERS ✔✔The method of
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determining primary coverage for a dependent child, under which|\ |\ |\ |\ |\ |\ |\ |\


the plan of the parent whose birthday occurs first in the calendar
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year is designated as primary.
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