Which Federal Act re-established the states as the regulators of insurance? - ANSWER
The McCarran-Ferguson Act
Cassidy Jones has purchased a Medigap policy which her agent delivered to her ten days
ago. Mrs. Joneshas decided she does not want the policy. - ANSWER Medigap policies
must include a 30-day free look; Mrs. Jones can cancel the policy "flat" and receive a full
refund
All OASDI benefits are calculated from the worker's: - ANSWER primary insurance
amount
Peggy Sue has accumulated thirty-two credits in the Social Security's system for determining
eligibilityfor benefits.
Is she eligible for full retirement and survivor benefits? - ANSWER
True or False?
Accidental Death and Dismemberment policies pay a lump-sum benefit in the event of an
accidental death or injury. - ANSWER True
Which type of insurance would a business purchase for their exposure to a disabled owner
but not for a disabled key person? - ANSWER Disability Income Insurance policy to fund a
Disability Buy-Sell Agreement
1
, What must happen before an insured can successfully file a Disability Income claim under
the DI Social Security rider? - ANSWER
Kevin has had a change in his occupation; which policy type is most affected by this change
in occupation? - ANSWER Disability Income Policy
Point-of-Service Plans authorize and _________ subscriber referrals to specialist and
hospitals. - ANSWER coordinate
Kathy want to purchase an insurance policy that will provide income to her if she becomes
disabled and unable to work.
What type of insurance would you recommend for Kathy? - ANSWER Disability Income
Insurance Policy
The Coordination of Benefits (COB) provision in group health plans is in place to
removethe______________ hazards of "over-insurance". - ANSWER moral and morale
Social Security defines a disability as one in which the worker is unable to engage in -
ANSWER in any substantial gainful work
Medicare is funded by employee and employer FICA contributions. Employees contribute
1.45% of all earned wages for Medicare. What amount if any is contributed by the
employer? - ANSWER 1.45%
The Affordable Care Act requires employers with 50 or more employees to provide health
insurance or pay a fine of $______ per worker for any worker receiving federal subsidies to
purchase health insurance - ANSWER 2,000
2
The McCarran-Ferguson Act
Cassidy Jones has purchased a Medigap policy which her agent delivered to her ten days
ago. Mrs. Joneshas decided she does not want the policy. - ANSWER Medigap policies
must include a 30-day free look; Mrs. Jones can cancel the policy "flat" and receive a full
refund
All OASDI benefits are calculated from the worker's: - ANSWER primary insurance
amount
Peggy Sue has accumulated thirty-two credits in the Social Security's system for determining
eligibilityfor benefits.
Is she eligible for full retirement and survivor benefits? - ANSWER
True or False?
Accidental Death and Dismemberment policies pay a lump-sum benefit in the event of an
accidental death or injury. - ANSWER True
Which type of insurance would a business purchase for their exposure to a disabled owner
but not for a disabled key person? - ANSWER Disability Income Insurance policy to fund a
Disability Buy-Sell Agreement
1
, What must happen before an insured can successfully file a Disability Income claim under
the DI Social Security rider? - ANSWER
Kevin has had a change in his occupation; which policy type is most affected by this change
in occupation? - ANSWER Disability Income Policy
Point-of-Service Plans authorize and _________ subscriber referrals to specialist and
hospitals. - ANSWER coordinate
Kathy want to purchase an insurance policy that will provide income to her if she becomes
disabled and unable to work.
What type of insurance would you recommend for Kathy? - ANSWER Disability Income
Insurance Policy
The Coordination of Benefits (COB) provision in group health plans is in place to
removethe______________ hazards of "over-insurance". - ANSWER moral and morale
Social Security defines a disability as one in which the worker is unable to engage in -
ANSWER in any substantial gainful work
Medicare is funded by employee and employer FICA contributions. Employees contribute
1.45% of all earned wages for Medicare. What amount if any is contributed by the
employer? - ANSWER 1.45%
The Affordable Care Act requires employers with 50 or more employees to provide health
insurance or pay a fine of $______ per worker for any worker receiving federal subsidies to
purchase health insurance - ANSWER 2,000
2
