FINAL EXAM- GEORGIA LIFE AND |\ |\ |\ |\ |\
HEALTH QUESTIONS WITH ANSWERS |\ |\ |\
Why would the commissioner examine an insurer's records -
|\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔to determine the solvency of the insurer
|\ |\ |\ |\ |\ |\ |\ |\
The guarantee of insurability option provides a long-term care
|\ |\ |\ |\ |\ |\ |\ |\ |\
policy owner the ability to - CORRECT ANSWERS ✔✔buy
|\ |\ |\ |\ |\ |\ |\ |\ |\
additional coverage at a later date |\ |\ |\ |\ |\
Which of the following statements best describes what legal
|\ |\ |\ |\ |\ |\ |\ |\ |\
action provision of an accident and health policy requires -
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔And insured must wait at least 60 days
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
after proof of loss has been submitted before a lawsuit can be
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
filed
What is Medicare? - CORRECT ANSWERS ✔✔A hospital and
|\ |\ |\ |\ |\ |\ |\ |\ |\
medical expense insurance program |\ |\ |\
What is old age and survivors health insurance OASDHI also
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
known for - CORRECT ANSWERS ✔✔Social Security's
|\ |\ |\ |\ |\ |\
Which of these statements concerning an individual straight life
|\ |\ |\ |\ |\ |\ |\ |\ |\
annuity is accurate - CORRECT ANSWERS ✔✔Payments are made
|\ |\ |\ |\ |\ |\ |\ |\ |\
to an annuitant for life
|\ |\ |\ |\
,The situation in which a group of physicians are salaried
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
employees and conduct business in an HMO facility is called a -|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔closed panel |\ |\ |\
An architecture firm would stand to lose a lot of money in the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
event of the death of his project manager. Which type of policy
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
should the firm purchase on his project manager? - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔Key person life policy |\ |\ |\ |\
The act of an insurance company publishing misleading
|\ |\ |\ |\ |\ |\ |\ |\
information about its policy provisions is called - CORRECT |\ |\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔False advertising |\ |\
In Georgia an accident and sickness policy that is paid on a
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
quarterly basis requires a grace period of - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
✔✔31 day's |\
Q is hospitalized for three days and receives a bill for $10,100. If
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
Q has a major medical policy with a $100 deductible and 80/20
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
coinsurance. How much will Q be responsible for paying of this |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
claim - CORRECT ANSWERS ✔✔$2,100, 10,000 x 20% = 2000 +
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
100
T would like to be assured $10,000 is available in 10 years to
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
replace a roof on his house. What kind of $10,000 policy should T
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
purchase? - CORRECT ANSWERS ✔✔Ten-Year Endowment
|\ |\ |\ |\ |\ |\
In Georgia which of the following is considered an unfair trade
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
practice - CORRECT ANSWERS ✔✔coercion |\ |\ |\ |\
, Which of these statements concerning an individual disability
|\ |\ |\ |\ |\ |\ |\ |\
income policy is true - CORRECT ANSWERS ✔✔Normally includes
|\ |\ |\ |\ |\ |\ |\ |\ |\
an Elimination period
|\ |\
Which of the following provisions specifies how long a policy
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
owners health coverage will remain in effect if the policy owner
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
does not pay the premium when it is to? - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
✔✔Grace period |\
In a life insurance contract and insurance companies promise to
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
pay stated benefits is called the - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\ |\ |\
✔✔Insuring clause |\
M becomes disabled and is unable to work for six months. M dies
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
soon after from complications arising from this disability. M has a
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
disability income policy that pays $2000 a month. Which of the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
following statements best describes what is owed to her state? -
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔Earned but unpaid benefits |\ |\ |\ |\ |\
When an insured changes to a more hazardous occupation, which
|\ |\ |\ |\ |\ |\ |\ |\ |\
disability policy provision allows an insurer to adjust policy
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
benefits and rates? - CORRECT ANSWERS ✔✔Change of |\ |\ |\ |\ |\ |\ |\ |\
occupation provision |\
T and S are named co- primary beneficiaries on a $500,000
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
accidental death and dismemberment policy and sharing their |\ |\ |\ |\ |\ |\ |\ |\
father. Their mother was named contingent beneficiary. Five
|\ |\ |\ |\ |\ |\ |\ |\
years later, S dies of natural causes and the father is killed in a
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
HEALTH QUESTIONS WITH ANSWERS |\ |\ |\
Why would the commissioner examine an insurer's records -
|\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔to determine the solvency of the insurer
|\ |\ |\ |\ |\ |\ |\ |\
The guarantee of insurability option provides a long-term care
|\ |\ |\ |\ |\ |\ |\ |\ |\
policy owner the ability to - CORRECT ANSWERS ✔✔buy
|\ |\ |\ |\ |\ |\ |\ |\ |\
additional coverage at a later date |\ |\ |\ |\ |\
Which of the following statements best describes what legal
|\ |\ |\ |\ |\ |\ |\ |\ |\
action provision of an accident and health policy requires -
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔And insured must wait at least 60 days
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
after proof of loss has been submitted before a lawsuit can be
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
filed
What is Medicare? - CORRECT ANSWERS ✔✔A hospital and
|\ |\ |\ |\ |\ |\ |\ |\ |\
medical expense insurance program |\ |\ |\
What is old age and survivors health insurance OASDHI also
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
known for - CORRECT ANSWERS ✔✔Social Security's
|\ |\ |\ |\ |\ |\
Which of these statements concerning an individual straight life
|\ |\ |\ |\ |\ |\ |\ |\ |\
annuity is accurate - CORRECT ANSWERS ✔✔Payments are made
|\ |\ |\ |\ |\ |\ |\ |\ |\
to an annuitant for life
|\ |\ |\ |\
,The situation in which a group of physicians are salaried
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
employees and conduct business in an HMO facility is called a -|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔closed panel |\ |\ |\
An architecture firm would stand to lose a lot of money in the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
event of the death of his project manager. Which type of policy
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
should the firm purchase on his project manager? - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔Key person life policy |\ |\ |\ |\
The act of an insurance company publishing misleading
|\ |\ |\ |\ |\ |\ |\ |\
information about its policy provisions is called - CORRECT |\ |\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔False advertising |\ |\
In Georgia an accident and sickness policy that is paid on a
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
quarterly basis requires a grace period of - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
✔✔31 day's |\
Q is hospitalized for three days and receives a bill for $10,100. If
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
Q has a major medical policy with a $100 deductible and 80/20
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
coinsurance. How much will Q be responsible for paying of this |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
claim - CORRECT ANSWERS ✔✔$2,100, 10,000 x 20% = 2000 +
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
100
T would like to be assured $10,000 is available in 10 years to
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
replace a roof on his house. What kind of $10,000 policy should T
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
purchase? - CORRECT ANSWERS ✔✔Ten-Year Endowment
|\ |\ |\ |\ |\ |\
In Georgia which of the following is considered an unfair trade
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
practice - CORRECT ANSWERS ✔✔coercion |\ |\ |\ |\
, Which of these statements concerning an individual disability
|\ |\ |\ |\ |\ |\ |\ |\
income policy is true - CORRECT ANSWERS ✔✔Normally includes
|\ |\ |\ |\ |\ |\ |\ |\ |\
an Elimination period
|\ |\
Which of the following provisions specifies how long a policy
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
owners health coverage will remain in effect if the policy owner
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
does not pay the premium when it is to? - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
✔✔Grace period |\
In a life insurance contract and insurance companies promise to
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
pay stated benefits is called the - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\ |\ |\
✔✔Insuring clause |\
M becomes disabled and is unable to work for six months. M dies
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
soon after from complications arising from this disability. M has a
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
disability income policy that pays $2000 a month. Which of the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
following statements best describes what is owed to her state? -
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔Earned but unpaid benefits |\ |\ |\ |\ |\
When an insured changes to a more hazardous occupation, which
|\ |\ |\ |\ |\ |\ |\ |\ |\
disability policy provision allows an insurer to adjust policy
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
benefits and rates? - CORRECT ANSWERS ✔✔Change of |\ |\ |\ |\ |\ |\ |\ |\
occupation provision |\
T and S are named co- primary beneficiaries on a $500,000
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
accidental death and dismemberment policy and sharing their |\ |\ |\ |\ |\ |\ |\ |\
father. Their mother was named contingent beneficiary. Five
|\ |\ |\ |\ |\ |\ |\ |\
years later, S dies of natural causes and the father is killed in a
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
