Life and Health Insurance test 25 questions and answers latest update
Life and Health Insurance
1)a blended rating schedule
Save2)a benefit schedule
3)a selfadministered group plan schedule
4)an experience refund schedule
Save1)Damon’s employer, because Damon is older than Andrea
2)Damon’s employer, because his birth date falls closer to Abigail’s birth date than does Andrea’s birth date
3)Damon’s employer, because the majority of the members of the Utsey family have birthdays during the same month as Damon
4)Andrea’s employer, because her birth date falls earlier in the calendar year than does Damon’s birth date
Question 2 (4 points)
Damon and Andrea Utsey have one young daughter, Abigail. Both Damon and Andrea work full time for employers that provide group medical expense coverage to employees and their spouses and dependents. Both group plans include coordination of benefits (COB) provisions, and both plans specify that the birthday rule will be used to determine which plan will be the primary payer if an individual is covered as a dependent under both plans. The dates of birth for the members of the Utsey family are as follows:
Damon’s date of birth is October 9, 1970
Andrea’s date of birth is April 20, 1972
Abigail’s date of birth is October 15, 2004
In this situation, the plan that most likely will be considered the primary provider of benefits for Abigail is the plan provided by
Question 2 options:
Question 3 (4 points)
The Fencepost Corporation provides $50,000 of noncontributory group life insurance coverage for each of its eligible employees. The current monthly premium rate for this coverage is $0.50 per
$1,000 of coverage. In February, Fencepost had 100 eligible employees. On March 1, Fencepost hired five additional employees who immediately became eligible for group life insurance coverage. During the month of March, the number of Fencepost employees remained constant. This information indicates that the amount of premium payable for the month of March was
Question 3 options:
Question 1 (4 points)
Group life insurance policies typically include a schedule that defines the amount of life insurance the policy provides for each insured. For example, the schedule might provide life insurance coverage to all eligible employees in an amount equal to one year’s salary. In another schedule, the amount of life insurance coverage might vary depending on whether the employee is a senior executive, a manager, or a nonmanagement employee. By definition, this schedule is known as
Question 1 options: 1) $25
Life and Health Insurance
1)a blended rating schedule
Save2)a benefit schedule
3)a selfadministered group plan schedule
4)an experience refund schedule
Save1)Damon’s employer, because Damon is older than Andrea
2)Damon’s employer, because his birth date falls closer to Abigail’s birth date than does Andrea’s birth date
3)Damon’s employer, because the majority of the members of the Utsey family have birthdays during the same month as Damon
4)Andrea’s employer, because her birth date falls earlier in the calendar year than does Damon’s birth date
Question 2 (4 points)
Damon and Andrea Utsey have one young daughter, Abigail. Both Damon and Andrea work full time for employers that provide group medical expense coverage to employees and their spouses and dependents. Both group plans include coordination of benefits (COB) provisions, and both plans specify that the birthday rule will be used to determine which plan will be the primary payer if an individual is covered as a dependent under both plans. The dates of birth for the members of the Utsey family are as follows:
Damon’s date of birth is October 9, 1970
Andrea’s date of birth is April 20, 1972
Abigail’s date of birth is October 15, 2004
In this situation, the plan that most likely will be considered the primary provider of benefits for Abigail is the plan provided by
Question 2 options:
Question 3 (4 points)
The Fencepost Corporation provides $50,000 of noncontributory group life insurance coverage for each of its eligible employees. The current monthly premium rate for this coverage is $0.50 per
$1,000 of coverage. In February, Fencepost had 100 eligible employees. On March 1, Fencepost hired five additional employees who immediately became eligible for group life insurance coverage. During the month of March, the number of Fencepost employees remained constant. This information indicates that the amount of premium payable for the month of March was
Question 3 options:
Question 1 (4 points)
Group life insurance policies typically include a schedule that defines the amount of life insurance the policy provides for each insured. For example, the schedule might provide life insurance coverage to all eligible employees in an amount equal to one year’s salary. In another schedule, the amount of life insurance coverage might vary depending on whether the employee is a senior executive, a manager, or a nonmanagement employee. By definition, this schedule is known as
Question 1 options: 1) $25
