Accident and Health Insurance Exam Questions with correct answers.

Accident and Health Insurance Exam
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Questions with correct answers
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H |has |suffered |a |covered |disability |away |from |her |job |and |will |shortly |begin |collecting |benefits. |The |
insurer |sends |a |letter |to |H |stating |that |she |will |not |receive |any |benefit |amounts |greater |than |her |
income. |This |clause |is |known |as:

A: |Over-insurance |clause

B: |free |look

C: |relation |of |earning |to |insurance

D: |relation |of |economic |value |- |correct |answer |C: |relation |of |earning |to |insurance



The |insured |should |be |aware |of |the |issue |date |upon |delivery |a |policy |and |the |date |should |be |listed |
on:

A: |the |policy |summary

B: |the |first |page |of |the |contract

C: |the |delivery |receipt

D: |upon |conditional |receipt |- |correct |answer |B: |the |first |page |of |the |contract



The |policy |has |all |of |the |following |rights |EXCEPT:

A: |Right |to |solely |renew |a |guaranteed |renewable |policy.

B: |Right |to |terminate |a |policy

C: |Unilateral |right |to |renew |an |Optionally |renewable |policy

D: |Right |to |assign |a |contract |- |correct |answer |C: |Unilateral |right |to |renew |an |Optionally |renewable |
policy



The |part |of |a |contract |that |specifies |which |expenses |may |or |may |not |be |covered |is |known |as |the:

A: |Exclusion

B: |Eligible |Expense |provision

,C: |Insuring |Agreement

D: |Consideration |Clause |- |correct |answer |B: |Eligible |Expense |provision



Which |of |the |following |is |considered |to |be |a |mandatory |provision |in |a |health |policy?

A: |Time |Limit |on |Certain |Defenses

B: |Change |of |Occupation

C: |Illegal |Occupation

D: |Intoxicant/Narcotic |Usage |- |correct |answer |A: |Time |Limit |on |Certain |Defenses



Which |of |the |following |may |be |considered |an |eligible |expense |found |in |a |health |policy? |

A: |Cosmetic |Surgery

B: |Premium |payment

C: |cold |cream

D: |Bus |fare |to |receive |treatment |for |a |covered |loss |- |correct |answer |D: |Bus |fare |to |receive |treatment |
for |a |covered |loss



K |has |a |policy |that |covers |doctors |visits |but |limits |the |number |of |visits |per |calendar |year |and |pays |a |
limited |indemnification |limit |per |visit. |K |has:

A: |Basic |Medical |Expense

B: |Physician |Nonsurgical |Coverage

C: |Basic |Surgical |Policy

D: |Basic |Hospital |Coverage |- |correct |answer |B: |Physician |Nonsurgical |Coverage



All |of |the |following |are |CORRECT |about |Medicare |EXCEPT:

A: |An |insured |who |is |age |30 |but |collecting |Social |Security |disability |for |the |last |two |years |is |eligible |
for |Medicare.

B: |An |insured |who |is |age |60 |and |is |at |the |end |stage |of |renal |failure |is |eligible |for |Medicare.

C: |An |insured |who |turns |age |65 |and |is |still |employed |is |eligible |for |Medicare.

,D: |An |insured |who |has |Medicare |Part |A |is |eligible |to |enroll |for |Medigap |policies |within |six |months |of |
enrolling |in |Part |A. |- |correct |answer |D: |An |insured |who |has |Medicare |Part |A |is |eligible |to |enroll |for |
Medigap |policies |within |six |months |of |enrolling |in |Part |A.



Under |the |Claim |Forms |provision |in |an |Accident |and |Health |policy, |an |insurance |company |must |
supply |an |insured |with |claim |forms |within |a |MAXIMUM |of |how |many |days |after |receiving |notice |of |
the |loss?

A: |10

B: |15

C: |20

D: |30 |- |correct |answer |B: |15



The |purpose |of |the |Fair |Credit |Reporting |Act |is |to:

A: |protect |the |consumer |from |having |an |adverse |action |against |them |based |of |obsolete |credit |
information

B: |to |ensure |that |credit |information |used |in |underwriting |is |accurate |and |updated

C: |make |sure |that |any |financial |institution |handles |an |individual's |credit |in |a |correct, |proper |manner

D: |All |of |the |Above |- |correct |answer |D: |All |of |the |Above



Most |Accident |and |Health |policies |require |that |claims |must |be |paid |_________ |upon |written |proof |of
|loss. |



A: |30 |days

B: |Immediately

C: |60 |days

D: |90 |days |- |correct |answer |B: |Immediately



A |LTC |policy |that |will |only |pay |for |ADL |given |occasionally |by |a |licensed |professional |is:

A: |Skilled |Care

B: |Intermediate |Care

C: |Custodial |Care

D: |None |of |the |Above |- |correct |answer |C: |Custodial |Care

, Which |of |the |following |policy |provisions |are |optional |in |a |individual |health |policy?

A: |Entire |Contract

B: |Change |of |Occupation

C: |Entire |Contract

D: |Reinstatement |- |correct |answer |B: |Change |of |Occupation



Which |of |the |following |elements |is |part |of |the |entire |contract |clause?

A: |The |exchange |of |value |between |the |parties

B: |The |agreement |between |the |policyholder |and |insurer

C: |The |amount |of |time |the |insured |has |to |send |a |policy |back |for |a |full |refund

D: |None |of |the |Above |- |correct |answer |D: |None |of |the |Above



All |of |the |following |are |true |regarding |Social |Security |disability |EXCEPT:

A: |A |insured |must |wait |5 |months |before |collecting |benefits

B: |To |qualify |an |insured |must |be |unable |to |do |any |job |in |the |American |economy

C: |To |qualify |an |insured |must |be |disabled |for |a |year |or |longer |or |die |within |a |two |year |period.

D: |The |insured |must |have |a |certain |amount |of |Social |Security |credits |based |off |age. |- |correct |answer |
C: |To |qualify |an |insured |must |be |disabled |for |a |year |or |longer |or |die |within |a |two |year |period.



Health |Care |FSA |contributions |are |limited |to |_______ |per |year.

A: |$5,000

B: |$3,000

C: |$2,700

D: |$3,250 |- |correct |answer |C: |$2,700



A |noncancelable |policy |means |the |company

A: |may |not |raise |the |premium |or |terminate |the |policy |except |for |nonpayment |of |premium

B: |may |not |cancel |before |the |insured |reaches |age |50