CT Life & Health Insurance Exam (XCEL Solutions & Prometric) Qs&As

CT Life & Health Insurance Exam (XCEL Solutions & Prometric) Qs&As Laura added a children's rider to her life insurance policy. What type of coverage was added? - AnswerLevel term With life insurance, the needs approach is used primarily in determining - Answer-How much life insurance a client should apply for A(n) __________ is a licensee who charges a fee for contracted insurance advisory services. - AnswerConsultant Jonas is covered with disability insurance through his employer. The employer pays 75% of the premium, while Jonas pays the other 25%. What is Jonas' tax liability for any benefits paid from the disability plan? - Answer-Taxes must be paid on 75% of the benefits received The Commissioner is empowered to perform each of the following acts EXCEPT - Answer-Makes rules that are consistent with those of neighboring states (Monitor insurer solvency, make rules and regulations that are consistent with the laws of CT, monitor insurer premium rates) How are the premiums for an individually-owned disability income policy treated for tax purposes? - Answer-Not tax-deductible at all Scott has a life insurance policy in which the dividends are left with the insurance company. This particular policy may be paid up when the cash value plus accumulated dividends - Answer-Equal the net single premium for the same face amount at the insured's attained age Which of these is NOT a standard provision in qualified long-term care policies sold in Connecticut? - Answer-Prior hospitalization (30-day free look period, guaranteed renewability, provide minimum coverage for 12 consecutive months) Accident and health insurance claim handling is made more convenient to the insured by utilizing - Answer-Assignment of benefits Specialty care is provided by which of the following health maintenance organization (HMO) providers? - Answer-Neurologist Which of the following facilitates nonresident licensing in the state of Connecticut? - Answer-Reciprocity agreement To secure authority for soliciting insurance products in the State of Connecticut, an insurance company must secure a certificate of authority from - Answer-The Connecticut Insurance Commissioner A group health certificate for coverage issued in Connecticut MUST contain a(n) - Answer-Summary of policy features and benefits Any employee insured under a group life insurance plan is normally - Answer-Covered with term life insurance Which statement regarding whole life insurance is accurate? - Answer-Insurance coverage can continue for life All of these are considered to be a violation of the Federal Fraud and False Statements Act EXCEPT - Answer-Claims reimbursement (Overvaluing land, abstracting funds, false entries on reports) A comprehensive major medical health insurance policy contains an Eligible Expenses provision which identifies the types of health care services that are covered. All of the following health care services are typically covered EXCEPT for - Answer-Experimental and investigative services (Hospital charges, physician fees, nursing services) An employee welfare plan exempt from ERISA regulations would be - Answer-Church plans Medicare Part B excess charges are covered by - Answer-Medicare Supplemental insurance A major medical expense policy typically does NOT - Answer...