FINAL EXAM- GEORGIA LIFE AND HEALTH QUESTIONS WITH ANSWERS

FINAL EXAM- GEORGIA LIFE AND |\ |\ |\ |\ |\




HEALTH QUESTIONS WITH ANSWERS |\ |\ |\




Why would the commissioner examine an insurer's records -
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CORRECT ANSWERS ✔✔to determine the solvency of the insurer
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The guarantee of insurability option provides a long-term care
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policy owner the ability to - CORRECT ANSWERS ✔✔buy
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additional coverage at a later date |\ |\ |\ |\ |\




Which of the following statements best describes what legal
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action provision of an accident and health policy requires -
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CORRECT ANSWERS ✔✔And insured must wait at least 60 days
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after proof of loss has been submitted before a lawsuit can be
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filed


What is Medicare? - CORRECT ANSWERS ✔✔A hospital and
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medical expense insurance program |\ |\ |\




What is old age and survivors health insurance OASDHI also
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known for - CORRECT ANSWERS ✔✔Social Security's
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Which of these statements concerning an individual straight life
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annuity is accurate - CORRECT ANSWERS ✔✔Payments are made
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to an annuitant for life
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,The situation in which a group of physicians are salaried
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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
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event of the death of his project manager. Which type of policy
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should the firm purchase on his project manager? - CORRECT
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ANSWERS ✔✔Key person life policy |\ |\ |\ |\




The act of an insurance company publishing misleading
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information about its policy provisions is called - CORRECT |\ |\ |\ |\ |\ |\ |\ |\ |\


ANSWERS ✔✔False advertising |\ |\




In Georgia an accident and sickness policy that is paid on a
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quarterly basis requires a grace period of - CORRECT ANSWERS
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✔✔31 day's |\




Q is hospitalized for three days and receives a bill for $10,100. If
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Q has a major medical policy with a $100 deductible and 80/20
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coinsurance. How much will Q be responsible for paying of this |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\


claim - CORRECT ANSWERS ✔✔$2,100, 10,000 x 20% = 2000 +
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100


T would like to be assured $10,000 is available in 10 years to
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replace a roof on his house. What kind of $10,000 policy should T
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purchase? - CORRECT ANSWERS ✔✔Ten-Year Endowment
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In Georgia which of the following is considered an unfair trade
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practice - CORRECT ANSWERS ✔✔coercion |\ |\ |\ |\

, Which of these statements concerning an individual disability
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income policy is true - CORRECT ANSWERS ✔✔Normally includes
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an Elimination period
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Which of the following provisions specifies how long a policy
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owners health coverage will remain in effect if the policy owner
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does not pay the premium when it is to? - CORRECT ANSWERS
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✔✔Grace period |\




In a life insurance contract and insurance companies promise to
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pay stated benefits is called the - CORRECT ANSWERS
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✔✔Insuring clause |\




M becomes disabled and is unable to work for six months. M dies
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soon after from complications arising from this disability. M has a
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disability income policy that pays $2000 a month. Which of the
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following statements best describes what is owed to her state? -
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CORRECT ANSWERS ✔✔Earned but unpaid benefits |\ |\ |\ |\ |\




When an insured changes to a more hazardous occupation, which
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disability policy provision allows an insurer to adjust policy
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benefits and rates? - CORRECT ANSWERS ✔✔Change of |\ |\ |\ |\ |\ |\ |\ |\


occupation provision |\




T and S are named co- primary beneficiaries on a $500,000
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accidental death and dismemberment policy and sharing their |\ |\ |\ |\ |\ |\ |\ |\


father. Their mother was named contingent beneficiary. Five
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years later, S dies of natural causes and the father is killed in a
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