HEALTH AND ACCIDENT EXAM PSI Latest Actual Exam with
Verified Questions & Correct Answers
Question 1.
What is the maximum amount of time an insurer has to
provide the claimant the forms for filing proof of loss?
1. 7 days
2. 15 days
3. 30 days
4. 90 days
Correct Answer: 2. 15 days
Question 2.
Which of the following is the most common method to
supplement Medicare coverage?
1. Medicaid
2. Group health insurance
3. Employer Health Insurance
4. Coverage offered by private insurers
Correct Answer: 4. Coverage offered by private insurers
Question 3.
In which of the following must a beneficiary change
request be filed in writing to the insurer and is made
effective by the insurance company recording the
change in its records?
1. designation option
2. recording method
3. endorsement method
4. succession of beneficiaries
Correct Answer: 2. recording method
Question 4.
Which of the following amends the Social Security Act
to make Medicare secondary to group health plans?
1. ADEA
2. ERISA
3. OBRA
4. TEFRA
Correct Answer: TEFRA
, Question 5.
Managed care plans increase efficiency by all of the
following means EXCEPT
1. increasing beneficiary cost sharing.
2. controlling inpatient admissions and length of stay.
3. selectively contracting with health care providers.
4. transferring the management of costs to the in-
sureds.
Correct Answer: 4. transferring the management of costs to the insureds.
Question 6.
A basic vision care package includes all of the following
EXCEPT
1. safety glasses.
2. the annual eye exam.
3. lenses and frames.
4. contact lenses.
Correct Answer: 1. safety glasses.
Question 7.
A group conversion option may be used in all the fol-
lowing instances EXCEPT
1. the termination of the master policy.
2. loss of coverage due to loss of employment.
3. loss of eligibility on the part of a class of insureds.
4. a life-changing event, such as marriage, divorce, or
childbirth.
Correct Answer: 4. a life-changing event, such as marriage, divorce, or
childbirth.
Question 8.
What does the grace period protect the policyholder
from?
1. an unintentional lapse of the policy
2. a change in mind about the initial purchase of the
policy
3. mistakenly omitting a beneficiary from the initial
contract
4. having to prove whether a condition is pre-existing
Correct Answer: 1. an unintentional lapse of the policy
Verified Questions & Correct Answers
Question 1.
What is the maximum amount of time an insurer has to
provide the claimant the forms for filing proof of loss?
1. 7 days
2. 15 days
3. 30 days
4. 90 days
Correct Answer: 2. 15 days
Question 2.
Which of the following is the most common method to
supplement Medicare coverage?
1. Medicaid
2. Group health insurance
3. Employer Health Insurance
4. Coverage offered by private insurers
Correct Answer: 4. Coverage offered by private insurers
Question 3.
In which of the following must a beneficiary change
request be filed in writing to the insurer and is made
effective by the insurance company recording the
change in its records?
1. designation option
2. recording method
3. endorsement method
4. succession of beneficiaries
Correct Answer: 2. recording method
Question 4.
Which of the following amends the Social Security Act
to make Medicare secondary to group health plans?
1. ADEA
2. ERISA
3. OBRA
4. TEFRA
Correct Answer: TEFRA
, Question 5.
Managed care plans increase efficiency by all of the
following means EXCEPT
1. increasing beneficiary cost sharing.
2. controlling inpatient admissions and length of stay.
3. selectively contracting with health care providers.
4. transferring the management of costs to the in-
sureds.
Correct Answer: 4. transferring the management of costs to the insureds.
Question 6.
A basic vision care package includes all of the following
EXCEPT
1. safety glasses.
2. the annual eye exam.
3. lenses and frames.
4. contact lenses.
Correct Answer: 1. safety glasses.
Question 7.
A group conversion option may be used in all the fol-
lowing instances EXCEPT
1. the termination of the master policy.
2. loss of coverage due to loss of employment.
3. loss of eligibility on the part of a class of insureds.
4. a life-changing event, such as marriage, divorce, or
childbirth.
Correct Answer: 4. a life-changing event, such as marriage, divorce, or
childbirth.
Question 8.
What does the grace period protect the policyholder
from?
1. an unintentional lapse of the policy
2. a change in mind about the initial purchase of the
policy
3. mistakenly omitting a beneficiary from the initial
contract
4. having to prove whether a condition is pre-existing
Correct Answer: 1. an unintentional lapse of the policy
