Exam 24 Wrong Answers

Question 1

Which of the following types of policies allows the policyowner to skip premium payments, provided that there is enough cash value in the policy to cover the premium amount?

Answer 1

Universal life

Question 2

What is the duration of the free look period for Medicare supplement policies?

Answer 2

30 days

Question 3

All of the following are characteristics of a group life insurance plan except

Answer 3

There is a requirement to prove insurability on the part of the participants

Question 4

Which of the following is not a feature of a guaranteed renewable provision?

Answer 4

The insurer can increase the policy premium on an individual basis

Question 5

An adjustable life policyowner can change which of the following policy features?

Answer 5

The coverage period

Question 6

Which of the following is correct concerning the taxation of premiums in a key person life insurance policy?

Answer 6

Premiums are not tax deductible as a business expense

Question 7

In a Disability Income policy, all of the following are considered presumptive disabilities except

Answer 7

Loss of one eye

Question 8

The rider in a whole life policy that allows the company to forgo collecting the premium if the insured is disabled is called

Answer 8

Waiver of premium

Question 9

An applicant for an individual health policy failed to complete the application properly. Before being able to complete the application and pay the initial premium, she is confined to a hospital. This will not be covered by insurance because she has not met the conditions specified in the

Answer 9

Consideration clause

Question 10

What is the shortest possible elimination period for group short term disability benefits provided by an employer?

Answer 10

0 days

Question 11

If a consumer requests additional information concerning an investigative consumer report, how long does the insurer or reporting agency have to comply?

Answer 11

5 days

Question 12

Health coverage becomes effective when the

Answer 12

First premium has been paid and the application has been approved

Question 13

Occasional visits by which of the following medical professionals will not be covered under LTC’s home health care?

Answer 13

Attending physician

Question 14

Under a Key Person disability income policy, premium payments

Answer 14

Are made by the business and are not tax deductible

Question 15

All of the following are considered to be basic benefits of an HMO plan except

Answer 15

Prescription drugs

Question 16

What is the maximum age for qualifying for a catastrophic plan?

Answer 16

30

Question 17

To sign up for a Medicare prescription drug plan, individuals must first be enrolled in

Answer 17

Medicare Part A

Question 18

Medicare Advantage is also known as

Answer 18

Medicare Part C

Question 19

Which of the following entities must approve all continuing education courses in this state?

Answer 19

The Commissioner

Question 20

An insured does not have to pay coinsurance or deductibles on a full series mouth x-ray, but does have to pay a deductible to get cavities filled. Which dental plan does he have?

Answer 20

Nonscheduled

Question 21

If an employee terminates her employment, which of the following provisions would allow her to continue health coverage under an individual policy, if requested within 31 days?

Answer 21

Conversion

Question 22

On a major medical insurance policy, the amount that an insured must pay on a claim before the insurer will pay is known as

Answer 22

Deductible