Life, Accident, Health Insurance Tests Compilation Bundle

Health and life insurance 2022 QUESTIONS WITH COMPLETE SOLUTIONS Carla has written life insurance policies on the lives of her children. What type of business is this considered? Correct Answer: Controlled John knowingly made an inaccurate comparison of coverage in order to induce his client ...

Sally is considering her Medicare options. She understands that to enroll in Medicare Part B, she will have to pay a monthly premium. Since she is healthy, she is considering delaying her enrollment until later. Will she be able to enroll at a later date? 1.Yes, she can enroll at anytime in the futu...

Which of the following laws requires an insurer to notify an applicant in writing that an investigative consumer report may be made on the applicant? -Uniform Provisions Law. -Freedom of Information Act. -Medical Information Bureau Disclosure Act -Fair Credit Reporting Act (Insurance Information...

Multiple Employer Welfare Arrangement (MEWA) provides what type of benefits? Correct Answer: Insurance XYZ Company pays the entire premium for its group health plan. The MINIMUM percentage of eligible employees that must be covered is Correct Answer: 100% In Major Medical Expense policies, w...

Basic Medical Expense policies Correct Answer: 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 C...

Group Insurance Correct Answer: - the employer is the owner and receives the master contract - the employees are certificate holders which outlines the details of it - underwriting is much more liberal because its a large group and probably wont have adverse selection - if you want t...

NY Life, Accident and Health Insurance Agent/Broker Exam Series 17-55

Process 2103 (d-i) Correct Answer: 1. The Superintendent may issue a license to any person, firm or corporation who has complied with the requirements of the Insurance Code, authorizing the licensee to act as agent of any authorized insurer. Every individual applicant for a license under this secti...

Health care accounts and Dependent care accounts Correct Answer: What are the 2 types of Flexible Spending Accounts? Cash value is guaranteed Correct Answer: Concerning a Whole Life Policy, which of the following statements is correct? Unearned premiums are retained by the insurance company ...

Elected Correct Answer: How does the Insurance Commissioner get into office. 4 years Correct Answer: What is the term of the Ins. Commissioner What are the powers of the Commissioner Correct Answer: Regulation, Examination of Records, Investigation, Hearing and Judicial Review, Issuing Pena...

What two elements are necessary to a life insurance contract to have a legal purpose? - 1. Insurable Interest 2. Consent Insurance is a contract that protects the insured from what? - Loss What Type of Risk is Insurable? - Pure What is the term for the causes of loss insured against in a insurance p...

Insurers are classified to their domiciles. What are the three types of insurers? Correct Answer: 1) Domestic 2) Foreign 3) Alien An insurance policy paid a nontaxable dividend to the insured one year, and nothing the next. From what type of insurer did the insured purchase the policy? ...

Which of the following determines the cash value of a variable life policy? Correct Answer: The performance of the policy portfolio What type of insurance would be used for a return of premium rider? Correct Answer: Increasing term All insurers doing business in California must maintain a de...

4 Correct Answer: A Licensed broker who participates in a national insurance association may get, from the Commissioner, how many continuing education credits? Producer, with the applicant's initials Correct Answer: Who is allowed to make changes to the application? The average age of the g...