HEALTH INSURANCE CERTIFICATION EXAM PACK WITH 100% CORRECT ANSWERS|GUARANTEED SUCCESS

Accidental Death and Dismemberment An insurance policy which pays a specified amount or a specified multiple of the insured's benefit if the insured dies, loses his/her sigh, or loses two limbs due to an accident Adhesion A contract offered on a "take-it-or-leave-it" basis by an insurer,...

A medical expense policy that establishes the amount of benefit paid based upon the prevailing charges which fall within the standard range of fees normally charged for a specific procedure by a doctor of similar training and experience in that geographic area is known as Usual, customary and reaso...

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: Reserves An insurance applicant MUST be informed of an investigation regarding his/her reputation and character according to the: Fair Credit ...

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...

An organization that transacts insurance only with its own members is a(n): Fraternal The ____________ has the power to issue rules and regulations to help enforce insurance laws. Commissioner, Superintendent, or Director All of the following are essential elements of a legal contrac...

owners rights if an individual health insurance policy provides a death benefit, the policyowner will be able to designate a beneficiary and, unless the beneficiary designation is irrevocable, to change the beneficiary. the power to change the beneficiary is provided in the change of beneficiary pr...

Which of the following is NOT a form of medical insurance? -Business overhead expense -Surgical expense -Hospital expense -Long term care Business overhead expense (Explanation:Business Overhead Expense insurance is designed to reimburse a business for overhead expenses in the event a business ...

Which renewability best describes a Disability Income Policy that covers an individual until the age of 65, but the insurer has the right to change the premium rate for the overall risk class? Guaranteed Renewable Describe a Guaranteed Renewable Health Insurance policy. The premiums normall...

On April 9, an application is submitted without the initial premium. The insurer requires a medical exam, and it is completed on April 14. On April 18, the insurer issued the policy, and the producer delivers it on April 21. When is coverage effective? Select one: a. April 9 b. April 14 c. Apr...

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