Arkansas Health and Accident Insurance Exam 2023

Funding for Medicare Part B is partially provided by - user premiums Which of the following would evidence ownership in a participating health insurance contract? - Policy Ownership To protect information, systems, agents, brokers, and insurance companies must implement and maintain a(n) - cybersecurity policy An insurer is best described as - Any person, corporation, association, or society that writes insurance contracts Jennifer is required to pay a specific sum out of pocket before any benefits are paid in a year. Her health policy most likely contains a(n) - deductible In Arkansas, anyone who lies under oath during a hearing is guilty of: - perjury Which of the following basics is a producer's fiduciary responsibility? - collecting premiums and paying them to the insurance company An insurance company needs to obtain personal information from a third party concerning an applicant. Which law do all insurers and their producers need to comply with? - Fair Credit Reporting Act Which is the best way to describe Controlled Business? - Policies written on people that a producer has influence over Tom has a rider on his disability income policy that guarantees the right to increase his benefits without a medical exam. What kind of rider is this? - Guaranteed Insurability rider Underwriters can acquire information from all of the following sources EXCEPT - Genetic Testing According to Arkansas law, commissions may be paid to: - licensed and duty appointed producers If a person is convicted of a crime stemming from a hearing, a fine up to $_______ per violation may be imposed - $1,000 The document that describes policy features, benefits, exclusions and riders in a Long-Term Care policy is known as the - Outline of Coverage Which of the following is NOT included under a health benefit plan? - Hospital indemnity plan Which of the following constitutes grounds for suspending an Arkansas producer's license? - Felony conviction Once a policy has been reinstated the insured must wait what amount of time before coverage for sickness is available? - 10 days Which of the following signatures is not required on an individual insurance application? - insurer Which of the following nursing home options would BEST suit an individual who needs some nursing care and supervision but NOT full-time care? - Assisted living facilities An employer is issued a group medical insurance policy. This single contract is known as a(n) - employer contract Under the Health Insurance Portability and Accountability Act (HIPAA), the employee's new Group Health Plan will verify Creditable Coverage so that the - employee's waiting period for coverage of a preexisting condition can be reduced under the new employer's health plan a nonparticipating policy will - not pay dividends Which of the following statements is TRUE about an insurer's right to screen applicants for HIV? - An insurer can require a blood test for HIV