insurance exam questions and answers

COBRA and HIPAA both address portability. What is the difference between them? - answer-COBRA provides a coverage bridge, HIPAA addresses coverage under plans for new entrants The type of health insurance policy most likely used to cover all students attending a large university is - answer-a blanket policy The life and health insurance marketing system utilizing producers that represent multiple insurance companies at the same time, are compensated on a commission basis, and own their own " book of business" is the - answer-independent agency system which of the following statements about key employee life insurance is true? - answer-the business is always the owner and beneficiary of key employee insurance Billy is the owner of a life insurance policy and has chosen a policy settlement option under which the company will pay the beneficiary (his widow) an income each month for as long as she lives. Payment stops at her death. Which settlement option has billy selected? - answer-life inco