Pearson Vue Health Insurance Exam Rated A+ Complete Solutions New Update

Pearson Vue Health Insurance Exam Rated A+ Complete Solutions New Update A producer and an applicant complete an application for a health policy and submit it to the insurer for underwriting without any premium. The underwriter issues a policy and mails it to the producer for delivery to the applicant. The producer should take all of the following actions during the delivery of the policy to the applicant EXCEPT: A. collect the initial premium payment B. issue a conditional receipt C. have the applicant complete a statement of continued good health D. explain the Free Look provision which begins on the policy delivery date - Answer- issue a conditional receipt Which of the following types of provisions guarantees renewability to a specified date or age unless certain specified events occur? A. Noncancellable B. Optionally Renewable C. Guaranteed Renewable D. Conditionally Renewable - Answer- Conditionally Renewable An individual who has had a heart murmur since birth is likely to be issued an individual disability policy that includes: A. a Guaranteed Insurability rider B. an Exclusionary/ Impairment rider c. a Waiver of Premium rider D. a Double Indemnity rider - Answer- an Exclusionary/ Impairment rider Which of the following reports may include information obtained by a telephone call to the proposed insured? A. Medical Information Bureau (MIB) report B. Attending physician's report C. inspection report D. Precertification Review - Answer- inspection report A 68 year-old employee that is covered by a group medical insurance plan has medical expenses. The employee's company health plan is the: A. Ancillary payor B. Primary payor C. Renewable davor D. Secondary payor - Answer- Primary payor Medicare Supplement policies are primarily designed to: A. offset the high cost of Medicare B. provide additional retirement income to supplement Social Security retirement benefits C. provide additional benefits beyond those provided by Medicare D. provide a reinsurance network that spreads the Medicare risk among private insurance companies - Answer- provide additional benefits beyond those provided by Medicare In an Accidental Death and Dismemberment (AD&D) policy, capital sum refers to: A. the benefit paid for death caused by a dread disease B. a lump sum payment made for an accidental dismemberment C. a lump sum payment made when disease causes the amputation of an arm or a lea D. the monthly disability income paid if an insured loses a limb or the sight in one or both eves - Answer- a lump sum payment made for an accidental dismemberment The Coordination of Benefits clause found in group health master contracts is used to: A. integrate Disability Income benefits with Major Medical benefits B. avoid double payment of benefits to an insured who has duplicate group coverages C. investigate the claims history of an insured D. avoid duplicate claims to an employer for the same employee - Answer- avoid double payment of benefits to an insured who has duplicate group A Disability Income policy may provide benefits for which of the following losses? A. Residual Disability B. Catastrophic medical expenses C. Long term care D. Supplemental payments to Medicare - Answer- Residual Disability Which of the following provisions explains that a producer does not have the authority to waive the provisions of an insurance contract? A. Legal actions B. Reinstatement C. Time limit on certain defenses D. Entire Contract - Answer- Entire Contract Which of the following health policies requires a beneficiary designation? A. Travel Accident B. Medicare Supplement C. Blanket D. Long Term Care - Answer- Travel Accident Which of the following definitions MOST accurately describes the Probationary Period? A. The period of time from the date of the loss until the benefits begin В. The period of time from the date of the loss until benefits are actually received by the policyowner C. The waiting period a new hire must satisfy prior to becoming eligible for group health coverage D. The period of time once a claim is received by the insurance company before it pays benefits to the policyowner - Answer- The waiting period a new hire must satisfy prior to becoming eligible for group health coverage