Kansas Insurance Practice Exam Questions and Answers Already Graded A

Kansas Insurance Practice Exam Questions and Answers Already Graded A The consideration clause in an accident and health policy states the applicant pays the initial premium Which of the following reports may include information obtained by a telephone call to the proposed insured? Inspection report Health insurance policies are offered on a "take it or leave it" basis and referred to as Contracts of Adhesion The insurance policy clause that identifies the contracting parties and defines the scope and limits of coverage is called Insuring clause Which of the following statements is CORRECT about a Waiver of Premium provision in a Disability Income Policy? It allows the insured to maintain a policy in force while disabled and unable to pay premiums. The coordination of benefits clause found in group health master contracts is used to avoid double payment of benefits to an insured who has duplicate group coverages Which of the following provisions designates to whom claim payments are made? Payment of Claims Medicare supplement policies are primarily designed to provide additional benefits beyond those provided by Medicare A married insured has an AD&D policy that names his brother as the primary beneficiary and his son as the contingent beneficiary. If the insured and his brother are both killed instantly in a train accident, the policy proceeds would be paid to which of the following? The insured's son Group health insurance specifies that what percentage of eligible individuals MUST be offered coverage under a noncontributory plan? 100 Under a Guaranteed Renewable Accident and Health policy, an insurer retains the right to increase the premium rate for an entire class of insureds A group long-term disability plan is integrated with SS when which of the following statements is CORRECT? Social Security and group benefits pay a combined maximum limit. On June 1, S purchased a major medical policy and paid the initial premium to producer T. Only July 1, Producer T received the policy from the insurance company. The policy contained a Ten-Day Free Look provision. On July 3, Producer T attempted to deliver the policy but found that S was not at home. On July 5, T was able to deliver the policy to S. On July 7, S decided he did not want the policy. S had 10 days from which day? July 5 The purpose of the MIB is to share medical data among member companies What law requires an insurer to notify an applicant in writing that an investigative consumer report may be made on the applicant? Fair Credit Reporting Act What definition MOST accurately describes the Probationary Period? The waiting period a new hire must satisfy prior to becoming eligible for group health coverage An insurer must provide claim forms to an insured within a MAXIMUM of how many days after receiving notice of an Accident & Health Claim? Fifteen Under a group health plan, an employer may offer additional benefits to classes of employees on the basis of all of the following factors except Gender What definition of disability would cover a permanent partial disability? Residual disability Which of the following statements is CORRECT about a disability income policy with a Guaranteed Insurability rider? The insured may periodically increase the amount of benefits payable under the policy The IRS considers disability income benefits paid under an employer-paid group disability income to be fully taxable M and N own a small interior design studio that employs six people. The owners are concerned about the financial continuation of the business if either of them should become permanently disabled. In this situation, a producer would MOST likely recommend what contract? Disability Buy-Out What statement is correct about coinsurance it helps control over-utilization of benefits 5 years ago, at age 45, X stated that he was 40 years old on a disability income insurance application. X now submits a claim and the insurer discovers X's true age. The insurer will most likely take which of the following actions? Adjust the benefits downward according to the benefits that X would have been entitled to based on the premiums. An insured becomes disabled three years after his Disability Income Policy is issued. The disability is caused by a condition that existed prior to the