Exam (elaborations)
Pearson Vue Insurance 2024 Test Questions And Answers
- Course
- Institution
Pearson Vue Insurance 2024 Test Questions And Answers...
[Show more]
Content preview
Pearson Vue Insurance 2024 Test Questions And AnswersUnder a Graded Premium policy, the premiums - Answer Are lower during the policies
early years
Which of the circumstances is a business disability buy-sell policy designed to help in
the sale of business. - Answer Business owner becoming disabled
A life insurance policy owner may sell their policy to a __________ in order to receive a
percentage of the policy's face value. - Answer Viatical settlement provider
N is age 50 and just purchased an annuity that will pay a guaranteed $2,000/month at age
70 for life. What type of annuity did N purchase? - Answer Fixed deferred
What does the main factor determine the benefits paid under a disability income policy. -
Answer Wages
A type of deductible provision specifying that in the case of a common accident or the
same sickness affecting more than one member of the family, only one individual
deductible amount shall apply. Answer Common accident deductible
What consideration does an insurer give in the consideration clause of a life policy? -
Answer Promise to pay a death benefit to a named beneficiary
Why is an applicants signature required on a life insurance application? Answer To attest
that the statements on the application are accurate to the best of the applicant's
knowledge
Which of these statements about guaranteed insurability option rider is not trye? -
Answer Evidence of insurability is required when the option is exercised
,Bryce purchased a disability income policy that contained a rider that allows him to
purchase additional amounts of coverage at preselected times without requiring evidence
of insurability. What kind of rider is this? Answer Guaranteed insurability rider
J has an Accidental Death and Dismemberment policy with a principal sum of $50,000.
While pruning the bushes, J accidentally cuts off one of his fingers. What is the
MAXIMUM J will receive from his policy? - Answer $25,000
Medicaid was designed to help people who are - Answer Below a certain income level
K filed a false statement on her application for health insurance policy. For a claim on this
policy, an insurance company must pay: - Answer Nothing
An application for Medicare Supplement coverage may NOT be declined by the insurer if
the application was made within ________ month(s) after the applicant attains the age of
65. - Answer 6
A "reimbursement policy" pays what amount of covered Long-term care expenses? -
Answer Actual covered expenses up to the daily maximum
A part-time working client earns $25,000 per year. For this client who has an IRA, what is
the maximum deductible IRA contribution allowable? - Answer $6,000
Which of the following provisions specifies how long a policyowner's health coverage will
remain in effect if the policyowner does not pay the premium when it is due? - Answer
Grace period
Which settlement option pays a stated amount to an annuitant, but no residual value to a
beneficiary? - Answer Life income
K buys a policy where the premium is level for the first 5 years. At the start of year 6, the
, premium increases and then levels from that point forward with the death benefit level.
What kind of policy is this? Answer Modified whole life
K goes abroad on a trip and comes back with an illness that keeps her out of work for 3
months. What type of policy would cover her loss of income? - Answer Disability income
Which type of policy benefits does a policyholder covered under a hospital expense
policy get? - Answer Reimbursement
The following determines the amount of monthly disability benefits payable under Social
Security? - Answer Amount of the benefits available from other sources
If a policyholder commits suicide within the Contestable period stated in the life
insurance contract, what happens? - Answer Claims are denied under the suicide clause
of the policy
What is the number of days within which a person insured under a health policy must
give to the insurance company a Notice of Claim after the occurrence of a covered loss?
Answer 20 days
How does group insurance differ from individual insurance? Answer Premiums are less
How can an agent-in-charge have more than one location? Answer Only if the agent in
charge is present when insurance activity occurs
Insurers/agents must, in Florida, offer and issue all small employer health plans on a
_________ basis: - Answer Guaranteed issue
Which is true concerning a Variable Universal Life policy? - Answer Policyowner controls
where the investment will go and selects the amount of the premium payment
An agent's license can be suspended or revoked by - Answer writing primarily controlled
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Easton. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $14.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
78637 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now