Arkansas Health insurance exam Questions and Answers(Rated 100%)
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Course
Arkansas Health insurance
Institution
Arkansas Health Insurance
What is the term used for a written request for an insurer to issue an insurance contract based on the provided information? - ANSWER-Application
What information are the members of the Medical Information Bureau required to report? - ANSWER-Adverse medical information about the applicants or in...
Arkansas Health insurance exam
Questions and Answers(Rated 100%)
If an agent makes a correction on the application for health insurance, who must
initial the correct answer? - ANSWER-The applicant
What is the term used for a written request for an insurer to issue an insurance
contract based on the provided information? - ANSWER-Application
What information are the members of the Medical Information Bureau required to
report? - ANSWER-Adverse medical information about the applicants or insured.
When should an agent obtain a Statement of Good Health from the insured? -
ANSWER-When the premium was paid upon policy delivery and not the time of
application.
What is the entire contract in health insurance underwriting? - ANSWER-The
application and policy issued.
What entities make up the Medical Information Bureau? - ANSWER-Insurers
What is the best way to make a change on an application for insurance? - ANSWER-
Start over with a fresh application
In health insurance, the policy itself and the insurance application form what? -
ANSWER-The entire contract
If an insurer decides to obtain medical information from different sources in order to
determine the insurability of an applicant, who must be notified of the investigation? -
ANSWER-The applicant
Who must sign a health insurance application? - ANSWER-The policyowner, the
insured (if different), and the agent
If an underwriter requires extensive information about the applicant's medical history,
what report will best serve this purpose? - ANSWER-Attending Physicians statement
Who is responsible for paying the cost of a medical examination required in the
process of underwriting? - ANSWER-Insurer
Whose responsibility is it to inform an applicant for health insurance about the
insurer's information gathering practices? - ANSWER-The agent
What type of hospital policy pays a fixed amount each day that the insured is in the
hospital? - ANSWER-Hospital indemnity
, What is the term for a period of time immediately following a disability during which
benefits are not payable? - ANSWER-Elimination period
What is the primary purpose of disability income insurance? - ANSWER-To replace
income lost due to a disability
Who are the parties in a group health contract? - ANSWER-The employer and the
insurer
Under what type of care do insurers negotiate contracts with health care providers to
allow subscribers have access to health care services at a favorable cost? -
ANSWER-Preferred Provider Organization (PPO)
How are HMO territories typically divided? - ANSWER-geographic areas
Why do HMOs encourage members to get regular checkups? - ANSWER-To help
catch health problems early when treatment has the greatest chance for success
(i.e. preventive care)
Who chooses a primary care physician in an HMO plan? - ANSWER-The individual
member
What is a fee-for-service health plan? - ANSWER-Under a fee-for-service plan,
providers receive payments for each service provided
What are the three types of basic medical expense insurance? - ANSWER-Hospital,
surgical, and medical
What is the capital sum in Accidental Death and Dismemberment (AD&D) coverage?
- ANSWER-A percentage of the principle sum
What is the main principle of an HMO plan? - ANSWER-Preventive care
In health insurance, what is considered a sickness? - ANSWER-An illness that first
arises while the policy is in force
What do individual insureds receive as proof of their group health coverage? -
ANSWER-Certificate of insurance
In what type of health plans are providers paid for services in advance, regardless of
the services provided? - ANSWER-Prepaid plans
Can Alzheimer's disease be excluded from coverage under a long-term care policy?
- ANSWER-No, organic cognitive disorders, such as Alzheimer's or Parkinson's must
be covered
With key person disability insurance, who pays the policy premiums? - ANSWER-
The business (employer)
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