Aflac Insurance Exam Questions And Answers Rated A+ New Update Assured Satisfaction

Making a statement that is false or maliciously critical of the financial condition of an insurer is known as - Answer-defamation Which of the following statements regarding an examination of an insurer's books and records by the Commissioner is true? - An insurer has a right to delay an examination by the Commissioner for a period of not more than 15 days after notification -The insurer must not impede an examination and is required to assist in the examination procedures -Reports related to solicitors are not official records archived from insurance examinations - The Commissioner only has the authority to examine domestic insurers - Answer-The insurer must not impede an examination and is required to assist in the examination procedures When an intermediary's license is revoked for failure to meet continuing education requirements, the intermediary CANNOT - Answer-be present during the sale of insurance by another intermediary Which type of policy pays benefits to a policyholder covered under a Hospital Expense policy? - Answerreimbursement Qualified long-term care policies must include all of the following provisions EXCEPT - Nonforfeiture option - Inflation protection - Prior hospitalization - Guaranteed renewability - Answer-Prior hospitalization Medicare - Answer-a federal health insurance program for individuals over the age of 65 or permanently disabled John has a criminal record in which he was convicted of a felony that involved dishonesty. Under Federal law, how would John be able to engage in insurance transactions? - Answer-Given written consent by the state insurance regulatory agencyA Medicare Supplement insurance policy may EXCLUDE coverage for preexisting conditions for a maximum period of how many months after the policy goes into effect? - Answer-6 An insured's statement of a policy's benefits which is to be used in marketing materials is called a(n) - Answer-testimony Jim is covered under a disability income policy. He is hurt while engaged in an occupation that is more hazardous than the occupation he specified in the policy. What action will the insurer likely take? - Answer-Reduce the benefit level All of these are considered to be a violation of the Federal Fraud and False Statements Act EXCEPT - Overvaluing land - Abstracting funds - False entries on reports -Claims reimbursement - Answer-Claims reimbursement For group health plans covering employees in more than one state, the state regulatory jurisdiction established for the plan may affect any of the following aspects EXCEPT - Minimum enrollment percentages - Eligibility qualifications - Required contract provisions - COBRA continuation of coverage - Answer-COBRA continuation of coverage A false statement made by an applicant that would influence an insurer in determining whether or not to accept the risk is - Answer-a material misrepresentation Which parties are directly involved in a group accident and health insurance contract? - Answeremployer and insurer (not employees)Who determines the suitability of a disability (accident & health) policy to a potential insured? - AnswerIntermediary Long Term Care policies will usually pay for eligible benefits using which of the following methods? - Answer-Expense Incurred Greg applies for insurance and makes a false statement on the application that will influence whether or not the insurer will accept the risk. Greg's false statement is called a(n) - Answer-material misrepresentation Which of the following statements BEST describes a double indemnity provision in travel accident insurance? - Answer-Benefits are doubled under certain circumstances stated in the policy A copy of all Medicare Supplement advertisements must be submitted for approval to - Answer-The Commissioner Jill has a group health plan with an employer that covers employees in more than one state. Which of the following is NOT affected by the state regulatory jurisdiction established for this plan? - Eligibility requirements - Required provisions - Minimum enrollment percentage - Continuation of coverage under COBRA - Answer-Continuation of coverage under COBRA Which of the following statements accurately describes the financial impact of total disability? - AnswerThe financial impact may be worse than that of death In long-term care insurance, what is the length of time for which claims will be paid? - Answer-Benefit period All of these are used to prevent adverse selection in a group dental plan EXCEPT - Provide evidence of insurability - Probationary periods- Waiting periods - Decreased employee participation - Answer-Decreased employee participation Group accident and health insurance may be offered by an insurer when the sponsoring group - Answerprovides an employer-employee relationship A major medical expense policy typically does NOT - Answer-pay surgeon fees on a first-dollar basis (basic or surgical) In regards to health insurance, employees age 65 or older are typically required to - Answer-be offered the same group health benefits offered to the younger employees An insurer may cancel a policy midterm for all of the following reasons EXCEPT when the insured - fails to pay the premium when due - makes a material misrepresentation - makes a substantial breach of policy conditions or contractual duties - has a change in marital status - Answer-has a change in marital status