UTAH Producer Life and Health Insurance Exam Correctly Answered.
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Course
UTAH.
Institution
UTAH.
UTAH Producer Life and Health Insurance Exam Correctly Answered.
What happens when an insurance policy is backdated? - CORRECT ANSWER The policy's effective date is earlier than the present
Standard Exclusions found in a life insurance policies - CORRECT ANSWER Hazardous occupations
Aviati...
UTAH Producer Life and Health
Insurance Exam Correctly Answered.
What happens when an insurance policy is backdated? - CORRECT ANSWER The policy's effective date is
earlier than the present
Standard Exclusions found in a life insurance policies - CORRECT ANSWER Hazardous occupations
Aviation
War
Which annuity payout option makes no additional payments regardless of when the annuitant dies? -
CORRECT ANSWER Life only
In an employer-sponsored contributory group Disability Income plan, the employer pays 60% of the
premium and each employee pays 40% of the premium. Any income benefits paid are taxed to the
employee at - CORRECT ANSWER 60% of the benefit
Before using an assumed name in the state of Utah, a producre must notify - CORRECT ANSWER the
Commisioner
Under group health insurance, a certificate of coverage is issued to the - CORRECT ANSWER employee
In an immediate annuity with a single premium, the annuitant typical recieves benefi payments within -
CORRECT ANSWER 1 month
What is it called when the provider is paid for each service given in a health care plan? - CORRECT
ANSWER fee-for-service
When determining whether a pre-existing health condition applies to a new company group health plan,
you cannot have more than a ___ day gap without previous health insurance? - CORRECT ANSWER 63
days
,An applicant's character and personal habits can be obtained for underwriting purposes from which
source? - CORRECT ANSWER Investigative consumer report
examples of rebating - CORRECT ANSWER Returnign premium to a client as an inducement for
purchasing a policy
Giving something of value to an insured in exchange for their business
Offering special dividends
What would be a valid reason why a policy premium woud be higher than the standard premium? -
CORRECT ANSWER The insured does not meet established underwriting requirements
Low frequency diseases can be exclusively covered by what kind of health insurance policies? - CORRECT
ANSWER Limited policies
If an insured dies during the grace period with no premiums paid - CORRECT ANSWER the policy would
be payable, minus the premium ammount
Loans obtained by a policyowner against the cash value of a life insurance policy - CORRECT ANSWER
are treated as taxable income
all long-term care policies are - CORRECT ANSWER guaranteed renewable
What is not allowed for an insurance company on a health policy that contains a guaranteed renewable
premium benefit? - CORRECT ANSWER Increase the premiums on an individual basis
What does Medicare part D cover - CORRECT ANSWER prescription drugs
The power given to an individual producer that is not specifically addressed in his/her contract is
considered what type of authority? - CORRECT ANSWER Implied
, The gatekeeper's role when used by an HMO is - CORRECT ANSWER obtaining referrals to specialists
from primary care physicians
What is considered to be a point of serivice (POS) plan? - CORRECT ANSWER Managed care plan
False advertsing would include - CORRECT ANSWER An insurer exaggerating its dividends
At what point may a producer sell insurance for an insurer - CORRECT ANSWER after being properly
appointed by the insurer
Insurable interest does not occur in this relationship - CORRECT ANSWER Business owner to client
What is the purpose for having an accelarated death benefit on a life insurance policy? - CORRECT
ANSWER it allows for cash advances to be paid against the death benefit if the insured becomes
terminally ill
in order for a contract to be valid it must - CORRECT ANSWER contain an offer and acceptance
the difference between pre-certification and concurrent review is that pre-certification - CORRECT
ANSWER occurs before the treatment is provided.
If the beneficiary dies from the same accident as the insured individual, the insurer will proceed as if -
CORRECT ANSWER the insured outlived the beneficiary
This policy does not build cash value - CORRECT ANSWER Term
An individual most likely will have an insurable interest in the insuring a persons life if - CORRECT
ANSWER an econmic interest exists for the continuance of the insureds life
which scenario would most life insurance polies exclude coverage for? - CORRECT ANSWER An
individual that has a hobby racing cars once a month.
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