Life and Health Insurance Questions
with 100% Correct Answers
principal sum Correct Answer: on an accidental death and dismemberment
policy the death benefit payable is known as
beneficiary / Jake Correct Answer: Dan and Chris buy a life insurance policy on
Dan's life to provide for their teenage son Jake who is listed as the beneficiary.
Two years later Dan is killed in a car accident, who would collect the death
benefit?
according to the common disaster Clause if the insured and primary beneficiary
are killed in the same accident and it cannot be determined who died first,
which of the following will be assumed? Correct Answer: the primary beneficiary
died before the insured
fixed annuities do not provide protection against inflation Correct Answer: which
of the following is a correct statement about annuities?
in order to reinstate a life insurance policy the insured must do all of the
following except Correct Answer: pay next year's premium in advance
a whole life policy is surrendered for a reduced paid-up policy. The cash value
in the new policy will Correct Answer: continue to increase
Riley reads in agreement on the first page of her policy which includes a list of
losses that will be covered by her and sure. What is the name of this
agreement? Correct Answer: insuring clause
an employee is insured by a group major medical plan that is provided through
her employer the employer contributes 75% of the premium and the employee
contribute the remaining 25% if the insured received a benefit from this policy in
, the amounts of 1000 how much of this benefit would be taxed as income?
Correct Answer: $0. group medical and dental expense benefits are received
income tax free by employee
all of the following are true regarding the Federal Fair Credit Reporting Act
except Correct Answer: reports may be sent to anyone who requests one
which of the following statements is incorrect regarding the definition of total
disability Correct Answer: total disability is the inability to perform partial duties of
any occupation for which a person is suited by reason of education training or
experience
what is the purpose of a benefit schedule? Correct Answer: to state what and
how much is covered in the plan
an IRA contribution can be made from which of the following Correct Answer:
cash
which of the following is provided by skilled medical personnel to those who
need occasional Medical assistance or Rehabilitation care? Correct Answer:
Intermediate Care
Medicare is a health insurance program for all of the following individuals
except Correct Answer: those with low income and low assets
the guaranteed insurability rider allows the owner to purchase additional
amount of Life Insurance without of insurability at all of the following except
Correct Answer: purchase of a new home
the guaranteed purchase option is also referred to as the Correct Answer: future
increase option
which of the following is not a Medicaid qualifier Correct Answer: insurability
with 100% Correct Answers
principal sum Correct Answer: on an accidental death and dismemberment
policy the death benefit payable is known as
beneficiary / Jake Correct Answer: Dan and Chris buy a life insurance policy on
Dan's life to provide for their teenage son Jake who is listed as the beneficiary.
Two years later Dan is killed in a car accident, who would collect the death
benefit?
according to the common disaster Clause if the insured and primary beneficiary
are killed in the same accident and it cannot be determined who died first,
which of the following will be assumed? Correct Answer: the primary beneficiary
died before the insured
fixed annuities do not provide protection against inflation Correct Answer: which
of the following is a correct statement about annuities?
in order to reinstate a life insurance policy the insured must do all of the
following except Correct Answer: pay next year's premium in advance
a whole life policy is surrendered for a reduced paid-up policy. The cash value
in the new policy will Correct Answer: continue to increase
Riley reads in agreement on the first page of her policy which includes a list of
losses that will be covered by her and sure. What is the name of this
agreement? Correct Answer: insuring clause
an employee is insured by a group major medical plan that is provided through
her employer the employer contributes 75% of the premium and the employee
contribute the remaining 25% if the insured received a benefit from this policy in
, the amounts of 1000 how much of this benefit would be taxed as income?
Correct Answer: $0. group medical and dental expense benefits are received
income tax free by employee
all of the following are true regarding the Federal Fair Credit Reporting Act
except Correct Answer: reports may be sent to anyone who requests one
which of the following statements is incorrect regarding the definition of total
disability Correct Answer: total disability is the inability to perform partial duties of
any occupation for which a person is suited by reason of education training or
experience
what is the purpose of a benefit schedule? Correct Answer: to state what and
how much is covered in the plan
an IRA contribution can be made from which of the following Correct Answer:
cash
which of the following is provided by skilled medical personnel to those who
need occasional Medical assistance or Rehabilitation care? Correct Answer:
Intermediate Care
Medicare is a health insurance program for all of the following individuals
except Correct Answer: those with low income and low assets
the guaranteed insurability rider allows the owner to purchase additional
amount of Life Insurance without of insurability at all of the following except
Correct Answer: purchase of a new home
the guaranteed purchase option is also referred to as the Correct Answer: future
increase option
which of the following is not a Medicaid qualifier Correct Answer: insurability
