Best Grades | Must Pass | Latest Update | Correct Answers | 2024/ 2025
MD Life and Health Final Exam Questions
and Correct Answers | Latest Update
The difference between a Long Term Care Partnership Plan and a Non-Partnership Plan is
which of the following?
Asset Protection
All of the following are considered appropriate uses of life insurance for business purposes
EXCEPT
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)
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?
Care is covered
Which of these statements concerning Traditional IRAs is CORRECT?
~ 1 ~ for inquiry mail me @
, Best Grades | Must Pass | Latest Update | Correct Answers | 2024/ 2025
Earnings are taxable when withdrawn
Under the Consolidated Omnibus Budget Reconciliation Act (COBRA), a terminated employee's
benefits must
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
fare-paying passenger
According to the Health Insurance Portability and Accountability Act (HIPAA), when can a
group health policy renewal be denied?
Participation or contribution rules have been violated
Who regulates the quality of care provided by a heath maintenance organization (HMO)?
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?
Accidental bodily injury provision
~ 1 ~ for inquiry mail me @
, Best Grades | Must Pass | Latest Update | Correct Answers | 2024/ 2025
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?
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?
Guaranteed insurability rider
The deeds and actions of a producer indicate what kind of authority?
Apparent
Jennifer is required to pay a specific sum out of pocket before any benefits are paid in a
year. Her health policy most likely contains a(n)
deductible
An individual most likely will have an insurable interest in insuring a person's life if
an economic interest exists for the continuance of the insured's li fe
According to life insurance contract law, insurable interest exists
~ 1 ~ for inquiry mail me @
, Best Grades | Must Pass | Latest Update | Correct Answers | 2024/ 2025
at the time of application
In an employer-sponsored contributory group Disability Income plan, the employer pays 60%
of the premium and each employee pays 40% of the premium. Any income benefits paid are
taxed to the employee at
60% of the benefit
Which of the following is considered to be an alternative to a life settlement?
Accelerated death benefit rider
A separate converted policy may, at the option of the insurance company, be issued to cover
a(n)
dependent
Which of the following decisions would a Health Savings Account (HSA) owner NOT be able to
make?
The amount contributed by the employer
According to the Affordable Care Act, any plan in existence prior to which date is considered
a grandfathered plan?
~ 1 ~ for inquiry mail me @
MD Life and Health Final Exam Questions
and Correct Answers | Latest Update
The difference between a Long Term Care Partnership Plan and a Non-Partnership Plan is
which of the following?
Asset Protection
All of the following are considered appropriate uses of life insurance for business purposes
EXCEPT
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)
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?
Care is covered
Which of these statements concerning Traditional IRAs is CORRECT?
~ 1 ~ for inquiry mail me @
, Best Grades | Must Pass | Latest Update | Correct Answers | 2024/ 2025
Earnings are taxable when withdrawn
Under the Consolidated Omnibus Budget Reconciliation Act (COBRA), a terminated employee's
benefits must
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
fare-paying passenger
According to the Health Insurance Portability and Accountability Act (HIPAA), when can a
group health policy renewal be denied?
Participation or contribution rules have been violated
Who regulates the quality of care provided by a heath maintenance organization (HMO)?
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?
Accidental bodily injury provision
~ 1 ~ for inquiry mail me @
, Best Grades | Must Pass | Latest Update | Correct Answers | 2024/ 2025
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?
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?
Guaranteed insurability rider
The deeds and actions of a producer indicate what kind of authority?
Apparent
Jennifer is required to pay a specific sum out of pocket before any benefits are paid in a
year. Her health policy most likely contains a(n)
deductible
An individual most likely will have an insurable interest in insuring a person's life if
an economic interest exists for the continuance of the insured's li fe
According to life insurance contract law, insurable interest exists
~ 1 ~ for inquiry mail me @
, Best Grades | Must Pass | Latest Update | Correct Answers | 2024/ 2025
at the time of application
In an employer-sponsored contributory group Disability Income plan, the employer pays 60%
of the premium and each employee pays 40% of the premium. Any income benefits paid are
taxed to the employee at
60% of the benefit
Which of the following is considered to be an alternative to a life settlement?
Accelerated death benefit rider
A separate converted policy may, at the option of the insurance company, be issued to cover
a(n)
dependent
Which of the following decisions would a Health Savings Account (HSA) owner NOT be able to
make?
The amount contributed by the employer
According to the Affordable Care Act, any plan in existence prior to which date is considered
a grandfathered plan?
~ 1 ~ for inquiry mail me @
