RMIN EXAM 3 TOPHAT questions &
answers rated
What part of an insurance policy has the policy period dates? - correct answer ✔✔Declarations
Insurance Policies have different types of "insureds". which type of insured extends coverage
under a standard homeowners policy to a full time college student age 20 living away from their
parents residence? - correct answer ✔✔Other Insureds
Chris has a health insurance policy that has a $5,000 deductible and "80% / 20%" coinsurance.
The policy has an annual policy period effective January 1, 2022. On February 7, Chris is sustains
injuries in an accident and incurs $4,000 in covered medical expenses. Chris returned to the
doctor on Feb. 14 and incurred another $2,000 in covered medical expenses. How much did the
insurer pay after processing the medical expenses incurred in Feb 2022? - correct answer
✔✔(4,000+2,000) = 6,000
6,000-5,000= 1,000
1,000*.80= 800
= $800
"Term Life" insurance coverage has a lower premium rate per $1,000 of coverage than "whole
life" insurance policies. T or F - correct answer ✔✔True
Corporate Group Life insurance polices could cover which of the following:
a. current employees
b. could be negotiated to extend coverage to dependents of employees
d. all of the above - correct answer ✔✔d. all of the above
answers rated
What part of an insurance policy has the policy period dates? - correct answer ✔✔Declarations
Insurance Policies have different types of "insureds". which type of insured extends coverage
under a standard homeowners policy to a full time college student age 20 living away from their
parents residence? - correct answer ✔✔Other Insureds
Chris has a health insurance policy that has a $5,000 deductible and "80% / 20%" coinsurance.
The policy has an annual policy period effective January 1, 2022. On February 7, Chris is sustains
injuries in an accident and incurs $4,000 in covered medical expenses. Chris returned to the
doctor on Feb. 14 and incurred another $2,000 in covered medical expenses. How much did the
insurer pay after processing the medical expenses incurred in Feb 2022? - correct answer
✔✔(4,000+2,000) = 6,000
6,000-5,000= 1,000
1,000*.80= 800
= $800
"Term Life" insurance coverage has a lower premium rate per $1,000 of coverage than "whole
life" insurance policies. T or F - correct answer ✔✔True
Corporate Group Life insurance polices could cover which of the following:
a. current employees
b. could be negotiated to extend coverage to dependents of employees
d. all of the above - correct answer ✔✔d. all of the above
