CISR - PERSONAL LINES MISCELLANEOUS EXAM QUESTIONS
WITH COMPLETE SOLUTION
absolute assignment of benefits
a condition that exists when a policy owner has transferred ownership of a life insurance
policy to another party without any terms or conditions
aggregate deductible
each family member in a health plan is covered under the same deductible
application
an underwriting tool that contains detailed personal information about a proposed
insured
assignee
an individual or entity to whom the title, rights, and benefits under a life insurance policy
are assigned and who is also the beneficiary
assignor
the owner of a life insurance policy
beneficiary
the individual(s) or entity who receives the death benefit from a life insurance policy
coinsurance
the percentage of covered healthcare costs an insured pays
company/carrier
the insurer
Conditional Receipt
the agreement between an insurer and applicant that can provide temporary life
insurance coverage until the insurer has issued the policy; also called the Temporary
Insuring Agreement
contingent beneficiary
the second in line for a death benefit if the primary beneficiary dies before the insured
co-payment
a fixed amount an insured pays for a covered healthcare service
covered employers
employers who generally have 50 or more employees
decline coverage
a category of people who generally have such serious and complicated health
conditions that the risk of insuring them is too great
deductible
the amount an insured pays for covered healthcare services before an insurance plan
begins to pay
eligible account holder
an individual (self-employed or an employee) qualified under a high-deductible health
plan (HDHP) but not covered under a non-qualified HDHP (with some exceptions)
embedded deductible
a lower deductible limit for each member of a family plan. Embedded deductibles
determine whether a family is qualified for an HSA.
WITH COMPLETE SOLUTION
absolute assignment of benefits
a condition that exists when a policy owner has transferred ownership of a life insurance
policy to another party without any terms or conditions
aggregate deductible
each family member in a health plan is covered under the same deductible
application
an underwriting tool that contains detailed personal information about a proposed
insured
assignee
an individual or entity to whom the title, rights, and benefits under a life insurance policy
are assigned and who is also the beneficiary
assignor
the owner of a life insurance policy
beneficiary
the individual(s) or entity who receives the death benefit from a life insurance policy
coinsurance
the percentage of covered healthcare costs an insured pays
company/carrier
the insurer
Conditional Receipt
the agreement between an insurer and applicant that can provide temporary life
insurance coverage until the insurer has issued the policy; also called the Temporary
Insuring Agreement
contingent beneficiary
the second in line for a death benefit if the primary beneficiary dies before the insured
co-payment
a fixed amount an insured pays for a covered healthcare service
covered employers
employers who generally have 50 or more employees
decline coverage
a category of people who generally have such serious and complicated health
conditions that the risk of insuring them is too great
deductible
the amount an insured pays for covered healthcare services before an insurance plan
begins to pay
eligible account holder
an individual (self-employed or an employee) qualified under a high-deductible health
plan (HDHP) but not covered under a non-qualified HDHP (with some exceptions)
embedded deductible
a lower deductible limit for each member of a family plan. Embedded deductibles
determine whether a family is qualified for an HSA.
