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Life and Health Insurance Bundle

Life and Health Insurance Bundle

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Life & Health Insurance Exam Prep questions with correct answers

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Basic Medical Expense policies ans Provide coverage for Hospital, Surgical and Physicians Medical Expense. -Purchased as a individual or group policy. -provide first dollar coverage (no deductibles). -limited benefit periods and low coverage limits. Major Medical Expense Policy ans ...

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Life and Health Insurance Exam 1 questions with correct answers

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UNIT 1: The term used to describe the individual who is covered by the insurance is A. insurer B. insured C. policyowner D. risk ans B Which of the following is a risk? A. A car may need to have new brakes installed after several years of regular driving. B. An individual may need med...

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Life and Health License Exam questions with correct answers

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Only one party makes a legally enforceable promise ans What is meant by referring to an insurance policy as a unilateral contract? At all times ans When must insurance records of insurance agents and brokers be made available to the Insurance Commissioner? a loss exposure ans ...

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CA Life and Health Exam questions with correct answers

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What is insurance? ans Insurance is the legal contract where two parties agree that if something will happen, a value will be exchanged. What's the difference between pure risk and speculative risk? ans Pure risk is when you'll lose it all or there will be no change. Speculative ris...

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Final Exam - California Life and Health questions with correct answers

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Employer-provided group term life insurance is exempt from income taxation up to ans $50,000 Medicare Part B has an initial enrollment period. How many months after an individual's 65th birthday month does this enrollment period end? ans 3 months Which statement is true regarding ...

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Texas Life and Health Insurance Exam questions with correct answers

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What type of reinsurance contract involves two companies automatically sharing their risk exposure? ans Treaty The stated amount or percent of liquid assets that an insurer must have on hand that will satisfy future obligations to its policyholders is called ans reserves When third...

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Final Exam - Louisiana Life and Health questions with correct answers

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When are group disability benefits considered to be tax-free to the insured? ans When the recipient pays the premiums An insurable interest in each other's lives may exist in absence of an economic interest when the individuals are ans Marriage partners What is the elimination per...

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Alabama Life & Health Insurance Exam questions with correct answers

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Which of the following would be considered a speculative risk? ans The possibility the painting you bought might be a long-lost masterpiece A speculative risk is one in which there is a chance for either loss or gain. Example: Gambling, Casino's, Lottery, etc. All of the other choices desc...

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Oklahoma Life and Health Insurance Exam questions with correct answers

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All of the following are included as part of a contract in the entire contract provision EXCEPT the riders application changes made by the producer policy ans changes made by the producer Health insurance involves two perils, accident and ____. ans sickness All of the followi...

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PSI: LIFE, ACCIDENT, AND HEALTH PRACTICE EXAM questions with correct answers

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Under the misstatement of age or gender provision, what happens if it is determined at death that the insured's age or gender was misstated on a life insurance policy application? ans Benefits are adjusted to an amount that the premium would have purchased at the correct age or gender. Whi...

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Florida Life and Health Insurance questions with correct answers

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Insured ans The person covered by the insurance policy. Rider ans A written modification attached to a policy that increases or decreases coverage and/or premiums. What is a unilateral contract? ans A contract in which only one of the parties is legally bound to fulfill its o...

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Comprehensive Exam-KY Life & Health questions with correct answers

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All of the following are producer responsibilities to the applicant, except: ans Offering and selling only the lowest premium policy ___________ manufacture and sell insurance coverage in the form of policies or contracts of insurance. ans Insurers When both parties must perform ce...

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Missouri Life and Health Exam questions with correct answers

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In a Life insurance contract, an insurance company's promise to pay stated benefits is called the: a) insuring clause b) consideration clause c) entire contract d) owner's rights ans insuring clause under which circumstance MUST a health insurer have an expedited grievance review pro...

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Indiana State Life & Health Exam questions with correct answers

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Individual disability income policies typical include an elimination period (t/f) ans True A producer's license may be denied, suspended, or revoked if the licensee: ans is found guilty of misrepresentation in obtaining the license Which of the following actions is NOT possible wi...

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Missouri Life and Health Insurance questions with correct answers

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$15.49

Insurance transaction includes: ans By mail or other means: - Solicitation - Negotiation - Sale - Advising an individual about coverage Elements of a legal contract ans -Agreement (offer and acceptance) - Consideration - Competent parties - Legal purpose - Negotiation does...

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PSI life, accident, and health questions with correct answers

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How long after being entitled to disability benefits will an individual be eligible to receive Medicare benefits? A. immediately B. 1 year C. 2 years D. At age 65 ans 2 years What is the return of premium rider? A. an increasing amount of term insurance that always equals the total o...

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MN Life and Health Insurance Exam questions with correct answers

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$16.49

2x sold

The commissioner examines each insurer every ___ Years. ans 5 years $____ fine per day if a person violates, aids, or abets a written cease and desist order ans $10,000 License fee may request a hearing within ____ days of commissioners order. After hearing request, Commissioner ha...

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Final Exam: California Life, Accident, and Health Insurance questions with correct answers

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What distinguishes a deferred annuity from an immediate annuity? ans The time at which benefit payments start Cindy buys a 10-year certain annuity with an installment refund. After receiving monthly payments for 5 years, Cindy dies. How many remaining payments will the insurer make to her b...

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