1
INSURANCE CERTIFICATE EXAM LATEST
QUESTIONS WITH ANSWERS (100% CORRECT
ANSWERS)
The MIB assist insurers in comparing medical information they have collected on a potential
insured among which of to following? Answer: other member insured
Annuity is set up to pay a monthly amount for the remainder of the annuitants life which
payment options allows for the remaining principal to be paid out to a designated beneficiary
at the time of the annuitants death Answer: Refund Life Annuity
The gatekeeper of an HMO helps to Answer: Control access to specialized care
Which of the following riders specifically eliminates coverage for a particular ailment?
Answer: Impairment Rider
The owner of a life policy can do all of the following Answer: select a settlement option, assign
the policy, and receive the policy's living benefits
The provision in health insurance policies which states that both the printed and a copy of the
application for the entire contract between the policyowner and the insurer is called the
Answer: Entire contract
New employees must wait a period of time before they can enroll in the group health plan as
specified under which of the following provisions? Answer: Probationary period
When does the free-look period begin for insurance policies? Answer: When the policyowner
receives the policy
the length of the grace period in health insurance policies depends on which of the following
Answer: the mode of then premium payment
in insurance policies, the entire contract is made up of which of the following Answer: the
policy and a copy of the application, stapled together
© 2025 All rights reserved
, 2
a life insurance policy that allows for a partial withdrawal or surrender of its cash value is a
Answer: universal life policy
the maximum benefit a policy will pay may be categorized as any of the following Answer:
lifetime limit, per-cause limit, annual limit
The owner of an individual nonqualified annuity making regular premium payments can
assume those payments are Answer: tax deferred
in the event an employee covered under a group health insurance policy dies, how long may a
spouse receive coverage through COBRA? Answer: 36 months
what type of underlying insurance is used in a Universal Life policy? Answer: Annually
Renewable Term
Insureds' duties to notify insurers of a loss are covered under which of the following
provisions? Answer: Notice of Claim
Who chooses where premiums will be invested in a variable life policies? Answer: the
policyowner
In an HMO policy, one of the main responsibilities of the primary care physician (PCP) as a
gatekeeper is to do which of the following? Answer: Help control costs
The annuity period Answer: May last for the lifetime of the annuitant
Which of the following mandatory health provisions states the specified number of days given
to an insured to return the completed claim forms to the insurance company? Answer: Proof of
Loss
A health insurance policy that has lapsed due to nonpayment of premium may be reinstated if
the outstanding premium is paid. How long after that will coverage be reinstated? Answer: 10
days
© 2025 All rights reserved
INSURANCE CERTIFICATE EXAM LATEST
QUESTIONS WITH ANSWERS (100% CORRECT
ANSWERS)
The MIB assist insurers in comparing medical information they have collected on a potential
insured among which of to following? Answer: other member insured
Annuity is set up to pay a monthly amount for the remainder of the annuitants life which
payment options allows for the remaining principal to be paid out to a designated beneficiary
at the time of the annuitants death Answer: Refund Life Annuity
The gatekeeper of an HMO helps to Answer: Control access to specialized care
Which of the following riders specifically eliminates coverage for a particular ailment?
Answer: Impairment Rider
The owner of a life policy can do all of the following Answer: select a settlement option, assign
the policy, and receive the policy's living benefits
The provision in health insurance policies which states that both the printed and a copy of the
application for the entire contract between the policyowner and the insurer is called the
Answer: Entire contract
New employees must wait a period of time before they can enroll in the group health plan as
specified under which of the following provisions? Answer: Probationary period
When does the free-look period begin for insurance policies? Answer: When the policyowner
receives the policy
the length of the grace period in health insurance policies depends on which of the following
Answer: the mode of then premium payment
in insurance policies, the entire contract is made up of which of the following Answer: the
policy and a copy of the application, stapled together
© 2025 All rights reserved
, 2
a life insurance policy that allows for a partial withdrawal or surrender of its cash value is a
Answer: universal life policy
the maximum benefit a policy will pay may be categorized as any of the following Answer:
lifetime limit, per-cause limit, annual limit
The owner of an individual nonqualified annuity making regular premium payments can
assume those payments are Answer: tax deferred
in the event an employee covered under a group health insurance policy dies, how long may a
spouse receive coverage through COBRA? Answer: 36 months
what type of underlying insurance is used in a Universal Life policy? Answer: Annually
Renewable Term
Insureds' duties to notify insurers of a loss are covered under which of the following
provisions? Answer: Notice of Claim
Who chooses where premiums will be invested in a variable life policies? Answer: the
policyowner
In an HMO policy, one of the main responsibilities of the primary care physician (PCP) as a
gatekeeper is to do which of the following? Answer: Help control costs
The annuity period Answer: May last for the lifetime of the annuitant
Which of the following mandatory health provisions states the specified number of days given
to an insured to return the completed claim forms to the insurance company? Answer: Proof of
Loss
A health insurance policy that has lapsed due to nonpayment of premium may be reinstated if
the outstanding premium is paid. How long after that will coverage be reinstated? Answer: 10
days
© 2025 All rights reserved
