FINAL EXAM- GEORGIA LIFE
AND HEALTH
Why would the commissioner examine an insurer's records Correct
answers to determine the solvency of the insurer
The guarantee of insurability option provides a long-term care policy owner
the ability to Correct answers buy additional coverage at a later date
Which of the following statements best describes what legal action
provision of an accident and health policy requires Correct answers And
insured must wait at least 60 days after proof of loss has been submitted
before a lawsuit can be filed
What is Medicare? Correct answers A hospital and medical expense
insurance program
What is old age and survivors health insurance OASDHI also known
for Correct answers Social Security's
Which of these statements concerning an individual straight life annuity
is accurate Correct answers Payments are made to an annuitant for life
The situation in which a group of physicians are salaried employees
and conduct business in an HMO facility is called a Correct answers
closed panel
An architecture firm would stand to lose a lot of money in the event of the
death of his project manager. Which type of policy should the firm purchase
on his project manager? Correct answers Key person life policy
The act of an insurance company publishing misleading information
about its policy provisions is called Correct answers False advertising
In Georgia an accident and sickness policy that is paid on a quarterly basis
requires a grace period of Correct answers 31 day's
Q is hospitalized for three days and receives a bill for $10,100. If Q has a
major medical policy with a $100 deductible and 80/20 coinsurance. How
much will Q be responsible for paying of this claim Correct answers $2,100,
10,000 x 20% = 2000 + 100
T would like to be assured $10,000 is available in 10 years to replace a
roof on his house. What kind of $10,000 policy should T purchase?
Correct answers Ten-Year Endowment
, In Georgia which of the following is considered an unfair trade practice
Correct answers coercion
Which of these statements concerning an individual disability income
policy is true Correct answers Normally includes an Elimination period
Which of the following provisions specifies how long a policy owners health
coverage will remain in effect if the policy owner does not pay the premium
when it is to? Correct answers Grace period
In a life insurance contract and insurance companies promise to pay stated
benefits is called the Correct answers Insuring clause
M becomes disabled and is unable to work for six months. M dies soon
after from complications arising from this disability. M has a disability
income policy that pays
$2000 a month. Which of the following statements best describes what is
owed to her state? Correct answers Earned but unpaid benefits
When an insured changes to a more hazardous occupation, which disability
policy provision allows an insurer to adjust policy benefits and rates? Correct
answers Change of occupation provision
T and S are named co- primary beneficiaries on a $500,000 accidental
death and dismemberment policy and sharing their father. Their mother
was named contingent beneficiary. Five years later, S dies of natural causes
and the father is killed in a scuba accident shortly afterwards how much of
the death benefit will the mother receive Correct answers $0
In Georgia long-term care policies are required to provide benefits for at
least Correct answers 12 months
S is the policy owner of a major medical policy. The premiums are paid
monthly and due on the first of each month. As fails to make September
payment and is hospitalized October 15. What else fails to claim for
hospitalization, the insurer will likely Correct answers Deny the claim
Which of these is not considered to be an element of an insurance
contract Correct answers negotiating
Cash surrendering an existing whole life policy and purchasing a new whole
life policy is referred to as a(n) Correct answers replacement
X is insured with a disability income policy that provides coverage until age
65. This policy allows the insurer to change the premium rate for the overall
risk class assigned.
AND HEALTH
Why would the commissioner examine an insurer's records Correct
answers to determine the solvency of the insurer
The guarantee of insurability option provides a long-term care policy owner
the ability to Correct answers buy additional coverage at a later date
Which of the following statements best describes what legal action
provision of an accident and health policy requires Correct answers And
insured must wait at least 60 days after proof of loss has been submitted
before a lawsuit can be filed
What is Medicare? Correct answers A hospital and medical expense
insurance program
What is old age and survivors health insurance OASDHI also known
for Correct answers Social Security's
Which of these statements concerning an individual straight life annuity
is accurate Correct answers Payments are made to an annuitant for life
The situation in which a group of physicians are salaried employees
and conduct business in an HMO facility is called a Correct answers
closed panel
An architecture firm would stand to lose a lot of money in the event of the
death of his project manager. Which type of policy should the firm purchase
on his project manager? Correct answers Key person life policy
The act of an insurance company publishing misleading information
about its policy provisions is called Correct answers False advertising
In Georgia an accident and sickness policy that is paid on a quarterly basis
requires a grace period of Correct answers 31 day's
Q is hospitalized for three days and receives a bill for $10,100. If Q has a
major medical policy with a $100 deductible and 80/20 coinsurance. How
much will Q be responsible for paying of this claim Correct answers $2,100,
10,000 x 20% = 2000 + 100
T would like to be assured $10,000 is available in 10 years to replace a
roof on his house. What kind of $10,000 policy should T purchase?
Correct answers Ten-Year Endowment
, In Georgia which of the following is considered an unfair trade practice
Correct answers coercion
Which of these statements concerning an individual disability income
policy is true Correct answers Normally includes an Elimination period
Which of the following provisions specifies how long a policy owners health
coverage will remain in effect if the policy owner does not pay the premium
when it is to? Correct answers Grace period
In a life insurance contract and insurance companies promise to pay stated
benefits is called the Correct answers Insuring clause
M becomes disabled and is unable to work for six months. M dies soon
after from complications arising from this disability. M has a disability
income policy that pays
$2000 a month. Which of the following statements best describes what is
owed to her state? Correct answers Earned but unpaid benefits
When an insured changes to a more hazardous occupation, which disability
policy provision allows an insurer to adjust policy benefits and rates? Correct
answers Change of occupation provision
T and S are named co- primary beneficiaries on a $500,000 accidental
death and dismemberment policy and sharing their father. Their mother
was named contingent beneficiary. Five years later, S dies of natural causes
and the father is killed in a scuba accident shortly afterwards how much of
the death benefit will the mother receive Correct answers $0
In Georgia long-term care policies are required to provide benefits for at
least Correct answers 12 months
S is the policy owner of a major medical policy. The premiums are paid
monthly and due on the first of each month. As fails to make September
payment and is hospitalized October 15. What else fails to claim for
hospitalization, the insurer will likely Correct answers Deny the claim
Which of these is not considered to be an element of an insurance
contract Correct answers negotiating
Cash surrendering an existing whole life policy and purchasing a new whole
life policy is referred to as a(n) Correct answers replacement
X is insured with a disability income policy that provides coverage until age
65. This policy allows the insurer to change the premium rate for the overall
risk class assigned.
