MD Life and Health Final Exam 2024 with 100% correct answers

The difference between a Long Term Care Partnership Plan and a Non-Partnership Plan is which of the following? - correct answer Asset Protection All of the following are considered appropriate uses of life insurance for business purposes EXCEPT - correct answer Protecting the business by covering entry level employees with life insurance Susan is insured through her Group Health Insurance plan and changed her coverage to an individual plan with the same insurer after her employment was terminated. This change is called a(n) - correct answer conversion Maria is a Preferred Provider Organization (PPO) subscriber and received care from an out-of-network provider. Which of the following is the likely result? - correct answer Care is covered Which of these statements concerning Traditional IRAs is CORRECT? - correct answer Earnings are taxable when withdrawn Under the Consolidated Omnibus Budget Reconciliation Act (COBRA), a terminated employee's benefits must - correct answer be the same and the premium cannot exceed 102% A life insurance policy normally contains a provision that restricts coverage in the event of death under all of the following situations EXCEPT - correct answer fare-paying passenger According to the Health Insurance Portability and Accountability Act (HIPAA), when can a group health policy renewal be denied? - correct answer Participation or contribution rules have been violated Who regulates the quality of care provided by a heath maintenance organization (HMO)? - correct answer Secretary of the Department of Health and Mental Hygiene Under a disability income policy, which provision would be payable if the cause of an injury is unexpected and accidental? - correct answer Accidental bodily injury provision Shirley has a $500,000 10-year non-renewable level term life policy. If she dies 15 years after the policy's inception date, how much will her beneficiary receive? - correct answer Nothing Tom has a rider on his disability income policy that guarantees the right to increase his benefits without a medical exam. What kind of rider is this? - correct answer Guaranteed insurability rider