Life, Accident, and Health Producer Exam

Paul is an employee who caught a disease unique to the trade in which he was exposed to. Paul has a(n) - Answer- Occupational disease An immediate annuity has been purchased with a single premium. When does the annuitant typically begin receiving benefit payments? - Answer- 1 month Under which circumstance may a deferred insurance commission be paid to an individual? - Answer- Individual was a licensed producer at the time of the sale Under the Health Insurance Portability and Accountability Act (HIPAA), the employee's new Group Health Plan will verify Creditable Coverage so that the - Answer- Employee's waiting period for coverage of a preexisting condition can be reduced under the new employer's health plan Which type of multiple protection policy pays on the death of the last person? - Answer- Supervisorship life policy The period in which there are no Social Security benefits for the surviving spouse is called the - Answer- Blackout period Written notice for a health claim must be given to the insurer ___ days after the occurrence of the loss. - Answer- 20 In a Long-Term Care policy, activities of daily living (ADL'S) can be each of the following EXCEPT - Answer- Talking Mike has inherited his father's traditional IRA. As beneficiary, he will pay ____ taxes on any money withdrawn. - Answer- income The act of _____ insurance does NOT require an individual to hold an insurance producer license - Answer- underwriting A(n) _____ company is owned exclusively by shareholders - Answer- stock Under the Consolidated Omnibus Budget Reconciliation Act (COBRA), a terminated employee's benefits must - Answer- Be the same and the premium cannot exceed 102% Field underwriting performed by the producer involves - Answer- Completing the application and collecting initial premium If an insured dies during the grace period with no premiums paid - Answer- The policy would b