Exam 15 Wrong Answers Flashcards
A person who does not lock the doors or does not repair leaks shows an indifferent attitude. This person presents what type of hazard?
Morale
Which of the following is not true of Disability Buy-Sell coverage?
Benefits are considered taxable income to the business
In order to become licensed to become a viatical settlement provider, an application must be made with
The Insurance Department
How much inpatient care must be provided, following a vaginal delivery, by health insurance policies that provide maternity benefits?
48 hours
How many eligible employees must be included in a contributory plan?
75%
Insurers may change which of the following on a guaranteed renewable health insurance policy?
Rates by class
If a policy includes a free-look period of at least 10 days, the Buyer’s Guide may be delivered to the applicant
With the policy
Employer contributions made to a qualified plan
Are subject to vesting requirements
Nonforfeiture values guarantee which of the following for the policy owner?
That the cash value will not be lost
A 37 year old owns a policy with a Guaranteed Insurability Rider. The policy owner would like to increase the benefit amount offered by the policy. What documentation will be required?
No documentation
Which type of dental care would cover the cost of fillings?
Restorative
Which of the following statements regarding conditional receipts is true?
They are temporary insuring agreements
An insured has had a life insurance policy that he purchased 3 years ago when he was 40 years old. He is killed in an automobile accident and it is discovered that he is actually 45 years old, and not 43, as stated on the application. What will the company do?
Pay a reduced death benefit
A return of premium term life policy is written as what type of term coverage?
Increasing
If a licensed person is moving to Pennsylvania, he or she may become licensed as a resident if they submit a completed application within how many days of establishing residence in Pennsylvania with proof of licensing from their prior home state?
90
Who effectuated viatical settlement contracts?
Viatical settlement providers
Which of the following statements concerning Medicare Part B is correct?
It pays for physician services, diagnostic tests and physical therapy
If change needs to be made to the application for insurance, the agent may do all of the following except
Erase the incorrect answer and record the correct answer
At age 30, an applicant wants to start an insurance program, but realizing that his insurance needs will likely change, he wants a policy that can be modified to accommodate those changes as they occur. Which of the following policies would most likely fit his needs?
Adjustable life
What characteristic makes whole life permanent protection?
Coverage until death or age 100
A new employee who meets HIPAA eligibility requirements must be issued health coverage on what basis?
Guaranteed
Which of the following is true regarding a term health policy?
It is nonrenewable
To avoid violations of unfair claims settlement regulations, insurers are required to acknowledge the receipt of a claim within how many days?
10 days
Medicaid provides all of the following benefits Except
Income assistance for work related injury
Which of the following entities has the authority to make changes to an insurance policy?
Insurer’s executive officer
