Colorado Health Insurance
Comprehensive Resource To Help You Ace Exams Includes
Frequently Tested Questions With ELABORATED 100%
Correct COMPLETE SOLUTIONS
Guaranteed Pass First Attempt!! Current Update!!
1. Health Coverage for Newborns - CORRECT ANSWER Health
coverage for an insured's newborn child is provided without notice or
additional payment for thirty-one days after birth.
2. Foreign Company - CORRECT ANSWER An insurer formed under
the laws of a state other than this state is known as a foreign
company.
3. Insurance Commissioner - CORRECT ANSWER The person
authorized to enforce state insurance laws.
4. Examination of Insurer Records - CORRECT ANSWER The
Insurance Commissioner may examine the records of an insurer at
any time the Insurance Commissioner sees fit.
5. Medicare Supplement Coverage - CORRECT ANSWER Duplication
of Medicare benefits is specifically prohibited.
6. Insurance Producer - CORRECT ANSWER An individual who, for the
purpose of collecting premiums, acts for another in negotiating a
contract of insurance is considered to be a producer.
7. Consideration Clause - CORRECT ANSWER The Consideration
clause in an accident and health policy states the terms under which
the insurer provides coverage.
8. Consideration clause - CORRECT ANSWER The clause in an
accident and health policy that states the applicant pays the initial
premium.
, 9. Claim forms provision - CORRECT ANSWER An insurer must
provide claim forms to an insured within a MAXIMUM of fifteen days
after receiving notice of an Accident & Health claim.
10. Precertification review - CORRECT ANSWER A review prior to
a nonemergency hospitalization that is an example of managed care.
11. Noncancellable policy - CORRECT ANSWER A health policy in
which both the renewability and the premiums are guaranteed.
12. Waiver of Premium provision - CORRECT ANSWER A
provision in a Disability Income policy that allows the insured to
maintain a policy in force while disabled and unable to pay premiums.
13. Investigative consumer report notification - CORRECT
ANSWER A requirement for an insurer to notify an applicant in writing
that an investigative consumer report may be made on the applicant,
as per the Fair Credit Reporting Act.
14. Policy delivery actions - CORRECT ANSWER When delivering
a policy to a client, a producer should collect any premiums due, fully
explain all exclusions and/or riders, and review all benefits provided
by the policy, but should not keep the policy in the producer's office
for safe-keeping on behalf of the client.
15. Notice of Claim provision - CORRECT ANSWER An Accident
and Health policy provision that requires an insured to give written
notice to the insurer within a MAXIMUM of twenty days after a loss.
16. Contracts of Adhesion - CORRECT ANSWER Health insurance
policies that are offered on a 'take it or leave it' basis.
17. Periodic claim payments - CORRECT ANSWER Insurer MUST
make payments to an insured at least once every month.
18. Insurable interest under AD&D policy - CORRECT ANSWER
Must exist at the inception of the policy.
Comprehensive Resource To Help You Ace Exams Includes
Frequently Tested Questions With ELABORATED 100%
Correct COMPLETE SOLUTIONS
Guaranteed Pass First Attempt!! Current Update!!
1. Health Coverage for Newborns - CORRECT ANSWER Health
coverage for an insured's newborn child is provided without notice or
additional payment for thirty-one days after birth.
2. Foreign Company - CORRECT ANSWER An insurer formed under
the laws of a state other than this state is known as a foreign
company.
3. Insurance Commissioner - CORRECT ANSWER The person
authorized to enforce state insurance laws.
4. Examination of Insurer Records - CORRECT ANSWER The
Insurance Commissioner may examine the records of an insurer at
any time the Insurance Commissioner sees fit.
5. Medicare Supplement Coverage - CORRECT ANSWER Duplication
of Medicare benefits is specifically prohibited.
6. Insurance Producer - CORRECT ANSWER An individual who, for the
purpose of collecting premiums, acts for another in negotiating a
contract of insurance is considered to be a producer.
7. Consideration Clause - CORRECT ANSWER The Consideration
clause in an accident and health policy states the terms under which
the insurer provides coverage.
8. Consideration clause - CORRECT ANSWER The clause in an
accident and health policy that states the applicant pays the initial
premium.
, 9. Claim forms provision - CORRECT ANSWER An insurer must
provide claim forms to an insured within a MAXIMUM of fifteen days
after receiving notice of an Accident & Health claim.
10. Precertification review - CORRECT ANSWER A review prior to
a nonemergency hospitalization that is an example of managed care.
11. Noncancellable policy - CORRECT ANSWER A health policy in
which both the renewability and the premiums are guaranteed.
12. Waiver of Premium provision - CORRECT ANSWER A
provision in a Disability Income policy that allows the insured to
maintain a policy in force while disabled and unable to pay premiums.
13. Investigative consumer report notification - CORRECT
ANSWER A requirement for an insurer to notify an applicant in writing
that an investigative consumer report may be made on the applicant,
as per the Fair Credit Reporting Act.
14. Policy delivery actions - CORRECT ANSWER When delivering
a policy to a client, a producer should collect any premiums due, fully
explain all exclusions and/or riders, and review all benefits provided
by the policy, but should not keep the policy in the producer's office
for safe-keeping on behalf of the client.
15. Notice of Claim provision - CORRECT ANSWER An Accident
and Health policy provision that requires an insured to give written
notice to the insurer within a MAXIMUM of twenty days after a loss.
16. Contracts of Adhesion - CORRECT ANSWER Health insurance
policies that are offered on a 'take it or leave it' basis.
17. Periodic claim payments - CORRECT ANSWER Insurer MUST
make payments to an insured at least once every month.
18. Insurable interest under AD&D policy - CORRECT ANSWER
Must exist at the inception of the policy.
