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HI > Set 2 > Flashcards

Set 2 Flashcards

1
Q

Q1: Nigel has purchased Medical Expenses Insurance. Nigel notes that “Emergency Overseas Inpatient Treatment’’ is a covered expense in the medical expenses insurance policy which includes charges for…
(A) pre-arranged surgery at an overseas clinic.
(B) follow-up treatment in Singapore due to a fall overseas.
(C) overseas hospitalization expenses due to a motor accident.
(D) general practitioner consultation for influenza while abroad.

A

(C) overseas hospitalization expenses due to a motor accident.

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2
Q

Q2: With regards to a deductible of a Medical Expense Insurance policy,…
(A) this is similar to co-insurance.
(B) this is the minimum amount payable by the insurer.
(C) a higher deductible amount will result in a lower premium for the Medical Expense Insurance policy.
(D) it is the insurance premium payable by the insured to cover the amount resulting from a pro-ration factor.

A

(C) a higher deductible amount will result in a lower premium for the Medical Expense Insurance policy.

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3
Q

Q3: Joan is seeking reimbursement of hospital miscellaneous expenses under a typical Medical Expense Insurance policy but is not sure which charges she can claim for. In respect of hospital miscellaneous expenses, Joan MOST likely can claim for…
(A) her costs of a short-stay ward.
(B) the charges of the operating room.
(C) her costs of being in an intensive care unit.
(D) the costs of surgical implant and prosthesis.

A

(B) the charges of the operating room.

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4
Q

Q4: An amount of $100,000 has been specified in a Medical Expense Insurance policy as the maximum amount payable per disability. The amount is known as the…
(A) Event limit.
(B) Policy Period.
(C) Lifetime Cover.
(D) Annual Aggregate

A

(A) Event limit.

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5
Q

Q5: A catastrophic outpatient expense includes…
(A) anaesthetist’s fees.
(B) major organ transplant.
(C) kidney dialysis treatment.
(D) intensive care unit charges.

A

(C) kidney dialysis treatment.

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6
Q

Q6: Under which scheme do the employers, instead of providing their employees with Group Medical Insurance coverage, make additional monthly contributions to the employees’ respective Medisave accounts and the employees can then use the Medisave contributions to purchase MediShield Life or any one of the private insurers’ Integrated Shield Plans, to cover their inpatient or hospitalization needs?
(A) Community Health Assist.
(B) Portable Medical Benefits.
(C) Transferable Medical Insurance.
(D) Pioneer Generation Disability Assistance.

A

(B) Portable Medical Benefits.

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7
Q

Q7: A Group Insurance has been issued to ABC Ltd. This policy is MOST likely to be issued under a single contract called…
(A) Plan contract.
(B) Master contract.
(C) Employer contract.
(D) Employee contract.

A

(B) Master contract.

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8
Q

Q8: Under a Disability Income Insurance policy, a benefit offered by insurers as a hedge against inflation is known as…
(A) escalation benefit.
(B) premium waiver.
(C) rehabilitation expense.
(D) partial disability benefit.

A

(A) escalation benefit.

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9
Q

Q9: Besides the proposal form, the document which is required in the underwriting of a Disability Income Insurance application of a self-employed person is the…
(A) computerized payslip
(B) certified letter from the company.
(C) Notice of Assessment for the last three years.
(D) Central Provident Fund Statement (6 months)

A

(C) Notice of Assessment for the last three years.

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10
Q

Q10: Jane is covered under a CareShield Life. A feature of her policy is…
(A) it can only be issued as a rider to ElderShield.
(B) Jane shares in the divisible surplus of the insurer.
(C) its pay-out duration is for the entire duration of the disability.
(D) even if Jane recovers from her disability, premium payment must continue until Jane reaches the age of retirement, or dies.

A

(C) its pay-out duration is for the entire duration of the disability.

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11
Q

Q11: Joan has a Health Insurance policy. Under the Activities of Daily Living(ADLs) section of her policy, Joan’s ability to move from a bed to an upright chair or wheelchair, and vice versa is known as…
(A) feeding.
(B) mobility.
(C) toileting.
(D) transferring.

A

(D) transferring.

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12
Q

Q12: Peter called up Inflexible Insurance Ltd(IIL) for a Critical Illness Insurance quote but the staff at IIL told Peter that they never heard of such a cover. However, when Peter mentioned an alternative name for this product, the staff realized what he was referring to as Critical Illness Insurance is also known as …
(A) Whole Life
(B) Dread Disease
(C) Term Insurance
(D) Investment-Linked Policy

A

(B) Dread Disease

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13
Q

Q13: Cynthia is reading her Critical Illness policy and notes with interest that she covered for Major Cancer. However, Cynthia’s Critical Illness policy will not cover if…
(A) the policy is in force.
(B) the diagnosis meets the insurer’s conditions.
(C) the diagnosis is made within the waiting period.
(D) the diagnosis meets the definition of critical illness.

A

(C) the diagnosis is made within the waiting period.

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14
Q

Q14: Mrs Ang bought a Whole Life insurance policy for a sum assured of S$300,000 when she was 28 years old. She added a 30% accelerated critical illness rider to the insurance policy.

10 years later, she successfully claimed for the critical illness benefit. Owing to the illness, she passed away 15 years later.

Assuming that there are no bonuses in the insurance policy, calculate the amount payable upon Mrs Ang’s demise.
(A) S$90,000
(B) S$150,000
(C) S$210,000
(D) S$300,000

A

(C) S$210,000

CI claim = 30%*S$300,000 = S$90,0000
Remaining payout upon Mrs Ang’s demise
= S$300,000 - S$90,000 = S$210,000

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15
Q

Q15: Jane wishes to purchase Critical Illness insurance covering pregnancy-related complications and congenital illness. In Singapore, it is possible for Jane to purchase such term insurance which is usually valid for…
(A) 3-6 months.
(B) 6-12 months.
(C) 2-3 years
(D) 3-6 years

A

(D) 3-6 years

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16
Q

Q16: A Group Dental Care Insurance policy usually…
(A) includes a Schedule of Allowances.
(B) excludes pre-existing dental conditions.
(C) covers replacement of broken dentures.
(D) includes the cost of cosmetic treatment

A

(A) includes a Schedule of Allowances.

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17
Q

Q17: For a Group Dental Care Insurance, the Schedule of Allowances would usually state the…
(A) premium amounts and frequency.
(B) detailed terms and conditions of the policy.
(C) benefits or procedures covered under the policy.
(D) policy inception date and validity period of the policy.

A

(C) benefits or procedures covered under the policy.

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18
Q

Q18: Lucy is a consultant to the healthcare sector in Singapore. Lucy has been asked to explain what a Point of Service Plan is. Lucy should advise that a Point of Service Plan is a combination of a…
(A) Network Model and Mixed Model.
(B) Mixed Model and Preferred Provider Organization.
(C) Health Maintenance Organization and Mixed Model.
(C) benefits or procedures covered under the policy.
(D) Preferred Provider Organization and Health Maintenance Organization.

A

(D) Preferred Provider Organization and Health Maintenance Organization.

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19
Q

Q19: Under a Managed Healthcare scheme, a Health Maintenance Organization(HMO) contracts with a relatively large number of group practices, some of which may have a single specialty, and the HMO also arranges for the provision of hospital services to its members. This HMO’s model is known as the…
(A) Staff Model HMO.
(B) Mixed Model HMO.
(C) Network Model HMO.
(D) Independent Practitioners Association HMO.

A

(C) Network Model HMO.

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20
Q

Q20: The total claimable amount for a hospital bill is S$10,000, and there is no pro-ration factor involved.

The co-insurance claimable amount is as follows:
First S$5,000 = 10%
Next S$5,000 = 5%
Above S$10,000 = 3%

Calculate the amount that MediShield will pay if the deductible is S$2,000, and that the respective co-insurance applies.
(A) S$7,350
(B) S$7,450

A

(B) S$7,450

After deductible = S$10,000 - S$2,000 = S$8,000
1st S$5,000 = 10% X S$3,000 = S$300
Next S$5,000 = 5% X S$5,000 = S$250
Total = S$8,000 - S$300 - S$250 = S$7,450

21
Q

Q21: All preliminary calculations should be correct to 2 d.p.

Veronica, a 55-year-old professional, has been quoted the following for her MediShield Life, CareShield scheme and CareShield Life Supplement:

(1) MediShield Life component = S$600
(2) Risk Loading - S$180
(3) CareShield Life = S$550
(4) CareShield Life Supplement = S$850

The annual withdrawal limit for Veronica is S$600.

Calculate the amount that Veronica will have to pay in cash for the Care Shield Life Supplement.
(A) S$180
(B) S$250
(C) S$600

A

(B) S$250

Withdrawal limit for CareShield Life supplement = S$600

Cash payment = S$850 - S$600
= S$250

22
Q

Q22: The eligibility for higher subsidies at a Specialist Outpatient Clinic of a public hospital is based on the patient’s…
(A) age.
(B) gender.
(C) marital status.
(D) household monthly income.

A

(D) household monthly income.

23
Q

Q23: Shirley wishes to know the coverage of the additional private insurance component of Integrated Shield Plans, which is administered by approved private insurers. She should be advised that it is meant to cover…
(A) Class C wards of public hospitals or private hospitals.
(B) Class B2 wards of public hospitals or private hospitals.
(C) All ward classes of public hospitals or private hospitals.
(D) Class A/B1 wards of public hospitals or private hospitals.

A

(D) Class A/B1 wards of public hospitals or private hospitals.

24
Q

Q24: MediShield Life covers all Singapore Citizens up till they…
(A) pass away.
(B) reach age 99 years.
(C) become permanently disabled.
(D) decide to seek treatment at a private hospital.

A

(A) pass away.

25
Q

Q25: Mr Yeo is a Central Provident Fund(CPF) member and is 65 years old as of 1 January 2022.

Which advice to be given to Mr Yeo on the Basic Healthcare Sum(BHS) is correct?
(A) Amounts above the BHS will flow to Mr Yeo’s Medisave Account.
(B) The amount required for Mr Yeo’s BHS will not change for the rest of his life.
(C) Amounts up to the BHS can be withdrawn as cash by Mr Yeo as he has reached 65 years old.
(D) The BHS is designed for Mr Yeo to pay off any outstanding housing loan he still has at age 65 years old

A

(B) The amount required for Mr Yeo’s BHS will not change for the rest of his life.

26
Q

Q26: George, a Singaporean, was hospitalized just before death and had authorized to use his Medisave to pay for his medical bill. The maximum amount which can be used from his Medisave for his last inpatient medical bill is…
(A) 50%
(B) 70%
(C) 80%
(D) 100%

A

(D) 100%

27
Q

Q27: Subject to the specified withdrawal limits, David, a CPF member, can use his Medisave savings to pay for the premiums of…
(A) Covid-19 Insurance.
(B) Critical Illness Insurance.
(C) Hospital Cash Insurance.
(D) CareShield Life Supplement.

A

(D) CareShield Life Supplement.

28
Q

Q28: Mr Tan has heard of the MediShield Life Scheme which came into effect in November 2015. He is also covered under an Integrated Shield Plan(IP). Mr Tan has some concerns about both covers as he is suffering from some pre-existing conditions. What advice should be given to Mr Tan?
(A) IP covers all pre-existing conditions, while MediShield Life does not cover such conditions.
(B) MediShield Life covers all pre-existing conditions, while IP may not cover such conditions.
(C) Both MediShield Life and IP covers all pre-existing conditions, but the premium for MediShield Life is higher.
(D) Both MediShield Life and IP covers all pre-existing conditions, but there are sub-limits applicable in MediShield Life.

A

(B) MediShield Life covers all pre-existing conditions, while IP may not cover such conditions.

29
Q

Q29: What is the medical insurance that automatically covers all Singapore Citizens and Singapore Permanent Residents from 1 November 2015 onwards?
(A) MediShield Life.
(B) MediShield Term.
(C) MediShield Health
(D) MediShield Protect.

A

(A) MediShield Life.

30
Q

Q30: Darren met with an accident and was sent to a hospital by an ambulance. He underwent a minor surgery and stayed in a Class C ward. He was attended by a team of doctors and nurses. He did not understand why he was required to pay cash for a portion of his hospital bill, as his understanding was that MediShield Life covers the hospital bill in full.

The relevant charges and fees were within the policy limits. Darren asked his financial consultant who mentioned that one of the items was not covered under MediShield Life, hence resulting in Darren having to pay cash for the item.

The item that MOST likely resulted in Darren paying cash is the…
(A) surgery fees.
(B) ambulance fees.
(C) Class C ward charges.
(D) doctors’ and nurses’ fees.

A

(B) ambulance fees.

31
Q

Q31: Four Singaporean ladies are discussing about using their Medisave for their screening mammograms at approved medical centres in Singapore. The four ladies are Susan (aged 25 years), Mary (aged 35 years), Lucy (aged 45 years), and Gladys (aged 55 years).

Subject to the limits as specified, the only lady that can use her Medisave for such screening mammograms is…
(A) Susan.
(B) Mary.
(C) Lucy.
(D) Gladys.

A

(D) Gladys.

32
Q

Q32: In the event that a CareShield Life policyholder is not able to compete a claim form on her own because she lacks mental capacity, this may be undertaken for her by her…
(A) caregiver.
(B) employer.
(C) insurance broker.
(D) insurance company.

A

(A) caregiver.

33
Q

Q33: Which one of the following is NOT a feature of CareShield Life?
(A) There is a cash surrender value based on the total premium paid.
(B) It has a minimum entry age of 30 years old, but no maximum entry age.
(C) It offers lifetime cash payouts for as long as the individual is severely disabled.
(D) Regardless of the place of residence, policyholders will remain covered, and be able to make a claim and receive payouts.

A

(A) There is a cash surrender value based on the total premium paid.

34
Q

Q34: Any CareShield Life policyholder who wishes to obtain higher long-term care insurance coverage can also purchase…
(A) Exclusions.
(B) ElderShield.
(C) Deductibles.
(D) Supplements.

A

(D) Supplements.

35
Q

Q35: Ben is a Health Insurance underwriter and has just sent Jane, a new policyholder her health insurance policy documents. Jane notes that the policy documents contain a policy schedule which includes details of the…
(A) available hospitals.
(B) policy owner and insured person.
(C) types of injuries which are covered.
(D) types of diseases which are covered.

A

(B) policy owner and insured person.

36
Q

Q36: The insurer has the right to refuse to renew a health insurance policy on certain dates as specified in the policy issued under the…
(A) optionally renewable basis.
(B) guaranteed renewable basis.
(C) compulsory renewable basis.
(D) conditionally renewable basis.

A

(A) optionally renewable basis.

37
Q

Q37: A policy owner who has just bought a Critical Illness Insurance policy, with built-in death benefits payable, wishes to make a nomination of beneficiaries, such that he still retains the policy ownership and is free to change, add or remove them without their consent. Which nominations should he make?
(A) Trust Nomination.
(B) Revocable Nomination.
(C) Irrevocable Nomination.
(D) Recoverable Nomination

A

(A) Trust Nomination.

38
Q

Q38: What will likely help to reduce the amount of premium that insurers charge for their Health Insurance policies if the insurer expects market conditions to be favourable?
Increase in…
(A) medical inflation
(B) investment income.
(C) operating expenses.
(D) mortality experience

A

(B) investment income.

39
Q

Q39: A proposer with a pre-existing condition when buying Medical Expense Insurance will usually have the condition…
(A) covered in full from policy inception.
(B) excluded from coverage by the insurer.
(C) covered in full after 90 days of policy inception.
(D) covered after 90 days of policy inception subject to 50% co-insurance with the policyholder.

A

(B) excluded from coverage by the insurer.

40
Q

Q40: Alvin has asked an underwriter to quote for a health insurance policy. Alvin is asked by the underwriter to complete a health declaration when Alvin first applies for cover, in order to let the insurer know about his health and medical background or history. This type of underwriting is known as _____ underwriting.
(A) Simplified
(B) Moratorium
(C) Full Medical
(D) Medical Expenses

A

(B) Moratorium

41
Q

Q41: Ibru is a disability income insurance underwriter. Ibru is interested in considering avocation and lifestyle risks. Ibru is aware that avocation and lifestyle risks are those which are associated with…
(A) higher probabilities of dying.
(B) lower probabilities of being terminally ill.
(C) lower probabilities of contracting accidents.
(D) higher probabilities of contracting accidents or illnesses.

A

(D) higher probabilities of contracting accidents or illnesses.

42
Q

Q42: An insurer assesses the risk and determines whether to accept the Health Insurance application and, if it decides to accept it, on what terms that it will offer coverage to the proposer. This process is called…
(A) accounting.
(B) reinsurance.
(C) underwriting.
(D) claims handling.

A

(C) underwriting.

43
Q

Q43: Elliot is the compliance director of a life insurer called MNB insurance (MNB). Elliot should know that MNB may not use the word “Shield’’ when naming an accident and health policy, unless that policy is a ____ policy.
(A) Group
(B) Critical Illness
(C) Income protection
(D) Medisave approved

A

(D) Medisave approved

44
Q

Q44: Dobby is an accident and health insurance intermediary. In the case of a personal accident policy, by virtue of Notice No.: MAS 120, Dobby must ensure that the policy owner is aware that policy monies shall be paid as a result of…
(A) accident only.
(B) accident or illness only.
(C) accident, death or illness only.
(D) accident, death, illness or assault only.

A

(A) accident only.

45
Q

Q45: The Notice No.: MAS 120…
(A) does not specify any requirement on the benefit illustration.
(B) states that telemarketing is not allowed for any product covered under this Notice.
(C) states that when advising on any ElderShield policy, the specific Division therein regarding the requirements on the provision of advice shall apply.
(D) requires the A&H insurance intermediary to highlight in writing to its policy owner that the information provided by the policy owner will be the basis on which the advice will be made.

A

(D) requires the A&H insurance intermediary to highlight in writing to its policy owner that the information provided by the policy owner will be the basis on which the advice will be made.

46
Q

Q46: Eddie is the compliance director of an accident and health insurance broker called GGG Insurance (GGG). Eddie should know that Notice No.: MAS 120 Division 1A states that an accident and health insurance intermediary shall disclose to the policy owner in writing its…
(A) remuneration strategy and compliance controls.
(B) business tax reference, its audited accounts and complaints procedure.
(C) accounting principles, practices and financial rating from all rating agencies.
(D) business name under which it conducts its insurance business, its business address and its telephone number.

A

(D) business name under which it conducts its insurance business, its business address and its telephone number.

47
Q

Q47: For the purpose of Notice No.: MAS 120, the definition of an accident and health insurance intermediary includes a…
(A) captive insurer.
(B) direct reinsurer.
(C) direct insurance broker.
(D) direct reinsurance broker.

A

(C) direct insurance broker.

48
Q

Q48: Product selling…
(A) focuses on the prospective client’s situation.
(B) is a service carried out through a proper needs-based advisory process.
(C) involves finding solutions that meet the prospective client’s budget and needs
(D) assumes that the prospective client needs the product and goes straight into recommendations.

A

(D) assumes that the prospective client needs the product and goes straight into recommendations.

HI (5 decks)

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