Tennessee Health Insurance License Review Exam Already Passed

Tennessee Health Insurance License Review Exam Already Passed All of the following could be considered rebates if offered to an insured in the sale of insurance EXCEPT a)An offer to share in commissions generated by the sale. b)Dividends from a mutual insurer. c)An offer of employment. d)Stocks, securities, or bonds. - Answerb)Dividends from a mutual insurer. Dividends paid to policyholders of a mutual insurer are not considered to be a rebate because the policy specifies that they might be paid. Which provision states that the insurance company must pay Medical Expense claims immediately? - AnswerTime of Payment of Claims - The Time Payment of Claims provision requires that claims will be paid immediately upon receipt of proofs of loss except for periodic payments, which are to be paid as specified in the policy. Which of the following is NOT a feature of a guaranteed renewable provision? a)The insured has a unilateral right to renew the policy for the life of the contract. b)Coverage is not renewable beyond the insured's age 65. c)The insured's benefits cannot be reduced. d)The insurer can increase the policy premium on an individual basis. - Answerd)The insurer can increase the policy premium on an individual basis. Guaranteed renewable provision has all the same features that the noncancellable provision does, with the exception that the insurer can increase the policy premium on the policy anniversary date. However, the premiums can only be increased on a class basis, not on an individual policy. In insurance, an offer is usually made when - AnswerAn applicant submits an application to the insurer. Under a Key Person disability income policy, premium payments - AnswerAre made by the business and are not tax-deductible. What is the typical deductible for basic surgical expense insurance? - Answer$0 Which of the following is true about the requirements regarding HIV exams? a)Results may be disclosed to the agent and the underwriter. b)Prior informed oral consent is required from the applicant. c)HIV exams may not be used as a basis for underwriting. d)The applicant must give prior informed written consent. - Answerd)The applicant must give prior informed written consent. A separate written consent form must be obtained prior to an HIV exam. HIV exam results may be disclosed to underwriters, but not agents. Unless otherwise extended, how soon from the proof of loss must an insurer advise the insured of the acceptance or denial of a claim? - Answer60 days - After proof of loss has been submitted and a receipt has been acknowledged, an insurer must conduct an investigation and submit a notice to the insured of the acceptance or denial of the claim within 60 days. This time requirement may be extended for an additional 60 days if a reason for the extension is provided to the insured. The HMO Act of 1973 required employers to offer an HMO plan as an alternative to regular health plans if the company had more than 25 employees. How has this plan since changed? - AnswerEmployees are no longer forced to offer HMO plans. An insured is covered by a disability income policy that contains an accidental means clause. The insured exits a bus by jumping down the steps and breaks an ankle. What coverage will apply? - AnswerNo coverage will apply, since the injury could have been forseen. A client has a new individual disability income policy with a 20-day probationary period and a 30-day elimination period. Ten days later, the client breaks their leg and is off work for 45 days. How many days of disability benefits will the policy pay? - Answer15 days - A probationary period refers to the amount of time that coverage is not available for illness-related disabilities, so it would not apply to a broken leg. The elimination period, however, is the time that must elapse between the onset of the disability and when benefits will start being paid. In this case, the individual is considered disabled for 45 days, and the benefits will start to be paid after 30 days. So, the client will receive benefits for 15 days.