Set 4 Flashcards
Q16: Cynthia is reading her Critical Illness policy and notes with interest that she is 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.
(C) the diagnosis is made within the waiting period.
Q19: Brian is an expert in Health Insurance. When asked about a Group Dental Insurance policy, Brian should advise that…
(A) it covers cosmetic dental treatment.
(B) it is usually issued on a contributory basis.
(C) its initial period of insurance is usually two years.
(D) its coverage is usually restricted to Singapore only.
(C) its initial period of insurance is usually two years.
Q20: A common payment method used by a Managed Healthcare Organization is…
(A) Premium.
(B) Fee schedule.
(C) Income insurance.
(D) Medical expenses.
(B) Fee schedule.
Q26: Mr Lee, aged 45 years, purchased a Medical Insurance policy with the following breakdown in the policy premium:
(i) MediShield Life component = S$1,000
(ii) Additional Private Insurance Coverage = S$700
The annual withdrawal limit for Mr Lee is S$600.
Calculate the amount of premium payable by cash.
(A) S$100
(B) S$700
(C) S$1,000
(D) S$1,700
(A) S$100
MediShield Life component = Fully paid by Medisave
AWL for 45 on IP = S$600 (ANB 41 to 70 years: S$600) Premium payable by cash = S$700 - S$600
= S$100
Q29: Risk-Loading by private insurers on an Integrated Shield Plan would result in the premiums being…
(A) lower.
(B) higher.
(C) unchanged.
(D) on an escalating scale.
(B) higher.
Q31: 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.
(B) ambulance fees.
Q33: *All preliminary calculations shld be correct to 2 d.p, and the final answer correct to the nearest unit (with rounding).
Veronica, a 55-year-old professional, has been quoted the following for her MediShield Life, CareShield scheme and CareShield Life Supplement:
(1) MediShield Life componenet = S$600
(2) Risk Loading = S$180
(3) CareShield Life = S$550
(4) CareShield Life Supplement = S$850
Annual withdrawal limit for Veronica is S$600.
Calculate the amount that Veronica will have to pay in cash for the CareShield Life Supplement.
(A) S$180
(B) S$250
(C) S$600
(C) S$600
Withdrawal limit for CareShield Life supplement = S$600
Cash payment = S$850 - S$600 = S$250
Q36: To make a claim under CareShield Life, where should the insured submit his claim application to?
(A) CPF Board.
(B) Ministry of Health.
(C) Agency of Integrated Care.
(D) Monetary Authority of Singapore.
(C) Agency of Integrated Care.
Q37: 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.
(B) policy owner and insured person.
Q43: 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.
(B) excluded from coverage by the insurer.
Q45: Under the mandatory requirements of the “Notice No.: MAS 120 - Disclosure and Advisory Process Requirements for Accident and Health Insurance Products’‘,…
(A) documents to be given to policy owners should be kept up-to-date.
(B) information disclosed to policy owners in any advertisement or publicity material should be presented in plain language.
(C) no direct insurer shall use the word “Shield’’ in the name, description or title of any accident and health policy issued by it unless that policy is a Medisave-approved policy.
(D) warning and important information such as the nature and objective of the product, risk of the product, fees and charges and contractual rights and obligations of policy owners and the insurer, should be prominently presented and clearly explained.
(C) no direct insurer shall use the word “Shield’’ in the name, description or title of any accident and health policy issued by it unless that policy is a Medisave-approved policy.
Q47: 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) accident only.
Q48: 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.
(D) Medisave approved.
Q49: 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) renumeration strategy and compliance controls.
(B) business tax reference, its audited accounts and complaints procedure.
(C) accounting principles, practices and financial rating from all ratings agencies.
(D) business name under which it conducts its insurance business, its business address and its telephone number.
(D) business name under which it conducts its insurance business, its business address and its telephone number.
