Name: Score:
58 Multiple choice questions
Term 1 of 58
the coinsurance clause in an individual medical expense refers to
is a penalty for late payment of premiums.
is a provision that requires the insured to share in the costs of medical care with the
insurance company
is a requirement for obtaining additional coverage.
is a clause that limits the total payout for medical expenses.
Term 2 of 58
time of payment claims provision stated that intervals between disability income benefit may
not exceed
45 days
60 days
6 months
30 days
Term 3 of 58
most insurance companies use customary reasonable precharges to
set the maximum limit for annual medical expenses.
determine what amount of a medical bill the insurance plan will cover.
calculate the total cost of premiums for the insured.
establish the eligibility criteria for policyholders.
,Term 4 of 58
what of the following kinds of policies contain a limited daily room and board
basic hospital
major medical
comprehensive major medical
basic medical
Term 5 of 58
Medicare supplement contract may include a preexisting condition exclusion in how many
months?
31 days
12 months
6 months
30 days
Term 6 of 58
Commissioner of insurance is able to suspend or revoke a license except when?
a licensee is found guilty of a minor traffic violation
a licensee defaults on a personal loan
a licensee changes their business address without notifying the commissioner
a licensee fails to meet sales targets for three consecutive months
,Term 7 of 58
what is correct about disability income with a guaranteed insurance rider
its comprehensive, complies with the Affordable Care Act's (ACA) regulations for
qualifying health plans, and are designed to minimize out-of-pocket expenses for
individuals and families.
A guaranteed insurability rider guarantees the insured the option of purchasing
additional amounts of disability income coverage at predetermined times without
requiring the insured to provide evidence of insurability
non grandfathered health plans in the individual and small group markets to cover
essential health benefits.
complete a pre-licensing course of study, pass a background check, obtain license
Term 8 of 58
Moving from one state to another, a producer must file a change of address within how many
days?
60 days
30 days
45 days
6 months
Term 9 of 58
What is required for insurance applicants for an insurer who are required to pass a written
exam?
complete a customer service training and pass a drug test
submit a financial statement and provide references from previous employers
attend a seminar on insurance ethics and pass a physical fitness test
complete a pre-licensing course of study, pass a background check, obtain license
, Term 10 of 58
a type of health contract that allows remaining partners to buy out interests is known as
Group Disability
Transfer Of Ownership
Key Person Disability
Disability Buy-Sell
Term 11 of 58
what is true about group short term disability
typically have a maximum benefit period of three to six months, though some may
provide one year's worth of benefits.
are mandatory for all employees regardless of their job type.
provide unlimited benefits for any type of injury or illness.
are only available to full-time employees with over five years of service.
Term 12 of 58
misstatement of age provision in an accident and health policy allows insurance companies to
take the following action
The policy is in force
Cancel the policy
Adjust the benefit payable
Impose a fine
58 Multiple choice questions
Term 1 of 58
the coinsurance clause in an individual medical expense refers to
is a penalty for late payment of premiums.
is a provision that requires the insured to share in the costs of medical care with the
insurance company
is a requirement for obtaining additional coverage.
is a clause that limits the total payout for medical expenses.
Term 2 of 58
time of payment claims provision stated that intervals between disability income benefit may
not exceed
45 days
60 days
6 months
30 days
Term 3 of 58
most insurance companies use customary reasonable precharges to
set the maximum limit for annual medical expenses.
determine what amount of a medical bill the insurance plan will cover.
calculate the total cost of premiums for the insured.
establish the eligibility criteria for policyholders.
,Term 4 of 58
what of the following kinds of policies contain a limited daily room and board
basic hospital
major medical
comprehensive major medical
basic medical
Term 5 of 58
Medicare supplement contract may include a preexisting condition exclusion in how many
months?
31 days
12 months
6 months
30 days
Term 6 of 58
Commissioner of insurance is able to suspend or revoke a license except when?
a licensee is found guilty of a minor traffic violation
a licensee defaults on a personal loan
a licensee changes their business address without notifying the commissioner
a licensee fails to meet sales targets for three consecutive months
,Term 7 of 58
what is correct about disability income with a guaranteed insurance rider
its comprehensive, complies with the Affordable Care Act's (ACA) regulations for
qualifying health plans, and are designed to minimize out-of-pocket expenses for
individuals and families.
A guaranteed insurability rider guarantees the insured the option of purchasing
additional amounts of disability income coverage at predetermined times without
requiring the insured to provide evidence of insurability
non grandfathered health plans in the individual and small group markets to cover
essential health benefits.
complete a pre-licensing course of study, pass a background check, obtain license
Term 8 of 58
Moving from one state to another, a producer must file a change of address within how many
days?
60 days
30 days
45 days
6 months
Term 9 of 58
What is required for insurance applicants for an insurer who are required to pass a written
exam?
complete a customer service training and pass a drug test
submit a financial statement and provide references from previous employers
attend a seminar on insurance ethics and pass a physical fitness test
complete a pre-licensing course of study, pass a background check, obtain license
, Term 10 of 58
a type of health contract that allows remaining partners to buy out interests is known as
Group Disability
Transfer Of Ownership
Key Person Disability
Disability Buy-Sell
Term 11 of 58
what is true about group short term disability
typically have a maximum benefit period of three to six months, though some may
provide one year's worth of benefits.
are mandatory for all employees regardless of their job type.
provide unlimited benefits for any type of injury or illness.
are only available to full-time employees with over five years of service.
Term 12 of 58
misstatement of age provision in an accident and health policy allows insurance companies to
take the following action
The policy is in force
Cancel the policy
Adjust the benefit payable
Impose a fine
