L&H RETAKE EXAM 2024-2025
UPDATE WITH VERIFIED
QUESTIONS AND ANSWERS
What is a fiduciary who handles insurer funds in a trust capacity
called?
A. Agency
b. Agent
c. Authority
d. Life and Health Guaranty Associa=on
B. Agent
An agent always handles funds in a fiduciary manner
The Law of Large numbers means that insurance companies:
a. Know the laws over a stated period =me.
B. Cannot predict loss and must use some other means to determine
loss
c. Know how many losses occur with a group over a period of =me,
but not with individuals
d. Use Law of Large numbers for reasons other than for predic=ng
loss
,C. Know how many losses occur with a group over =me, but not with
individuals
The law of large Numbers helps predict loss and establish rates
Which of the following is not an underwri=ng factor in Health
insurance?
A. Job
b. Income
c. Moral hazards
d. Deduc=ble amounts
B. Income
an applicant's income is not an underwri=ng factor
Joan applied for a preferred rate on a Health Insurance policy. Her
insurer responded with a standard risk aOer evalua=on her past
medical history. Her insurer's response would be considered which of
the following?
A. A counteroffer
b. A solicita=on offer
c. An indemnity offer
d. An offer
,A. A counteroffer
the insurer's response is a counteroffer
All if the following are major underwri=ng considera=ons used in
classifying applicants for insurance, except:
a. Types of benefits
b. Occupa=on
c. Geographic loca=on
d. Morale hazards
C. Geographic loca=on
Geographic loca=on of an applicant is not an underwri=ng factor
Which of the following supports the Non Profit Medical Informa=on
Bureau?
A. COBRA
b. Insurance companies
c. NAIC
d. MIB
B. Insurance companies
Different insurance policies cover various costs. Which of the
following covers a variety of expenses that an insured may incur due
to a rou=ne accident or sickness?
, A. Loss of income
b. Medical expense
c. Dental expense
d. Long term care expense
B. Medical expense
a medical expense policy covers a variety of expenses that an insured
may have encountered due to an accident or sickness
Alice's Accidental Death and Dismemberment policy will cover all of
the following losses except:
a. Limb
b. Income
c. Life
d. Eyesight
B. Income
An Accidental Death and Dismemberment policy will not cover
income.
Vince sent his insurer a proof of loss valida=on. In regard to the Time
Payment of Claims Provision, when will his benefit be paid?
A. Within 30 days aOer the insurer received proof of loss
UPDATE WITH VERIFIED
QUESTIONS AND ANSWERS
What is a fiduciary who handles insurer funds in a trust capacity
called?
A. Agency
b. Agent
c. Authority
d. Life and Health Guaranty Associa=on
B. Agent
An agent always handles funds in a fiduciary manner
The Law of Large numbers means that insurance companies:
a. Know the laws over a stated period =me.
B. Cannot predict loss and must use some other means to determine
loss
c. Know how many losses occur with a group over a period of =me,
but not with individuals
d. Use Law of Large numbers for reasons other than for predic=ng
loss
,C. Know how many losses occur with a group over =me, but not with
individuals
The law of large Numbers helps predict loss and establish rates
Which of the following is not an underwri=ng factor in Health
insurance?
A. Job
b. Income
c. Moral hazards
d. Deduc=ble amounts
B. Income
an applicant's income is not an underwri=ng factor
Joan applied for a preferred rate on a Health Insurance policy. Her
insurer responded with a standard risk aOer evalua=on her past
medical history. Her insurer's response would be considered which of
the following?
A. A counteroffer
b. A solicita=on offer
c. An indemnity offer
d. An offer
,A. A counteroffer
the insurer's response is a counteroffer
All if the following are major underwri=ng considera=ons used in
classifying applicants for insurance, except:
a. Types of benefits
b. Occupa=on
c. Geographic loca=on
d. Morale hazards
C. Geographic loca=on
Geographic loca=on of an applicant is not an underwri=ng factor
Which of the following supports the Non Profit Medical Informa=on
Bureau?
A. COBRA
b. Insurance companies
c. NAIC
d. MIB
B. Insurance companies
Different insurance policies cover various costs. Which of the
following covers a variety of expenses that an insured may incur due
to a rou=ne accident or sickness?
, A. Loss of income
b. Medical expense
c. Dental expense
d. Long term care expense
B. Medical expense
a medical expense policy covers a variety of expenses that an insured
may have encountered due to an accident or sickness
Alice's Accidental Death and Dismemberment policy will cover all of
the following losses except:
a. Limb
b. Income
c. Life
d. Eyesight
B. Income
An Accidental Death and Dismemberment policy will not cover
income.
Vince sent his insurer a proof of loss valida=on. In regard to the Time
Payment of Claims Provision, when will his benefit be paid?
A. Within 30 days aOer the insurer received proof of loss
