WEST VIRGINIA LIFE /HEALTH INSURANCE BUNDLE PACKAGE QUESTIONS WITH CORRECT ANSWERS/ LATEST 2024

Health Insurance WV Specific broad powers of insurance commissioner - Answer- examine records hold hearings approve insurance rates The Insurance Commissioner may examine records ___ - Answer- As often as deemed necessary Domestic Insurers must have their records examined ____ - Answer- o...

WV State Life Insurance Exam A group-owned insurance company that is formed to assume and spread the liability risks of its members is known as a: - Answer- Risk retention group Which of the following requires insurers to disclose when an applicant's consumer or credit history is being invest...

WV Insurance What provision in a life insurance policy provides for an early payment of some portion of the policy death benefit (face amount) in the event the insured suffer from a terminal illness? - Answer- Accelerated Benefits Rider The Medical Information Bureau is: - Answer- Used by in...

WV Insurance Exam Study Guide Up to the policy limit - Answer- If insurance fails to notify the mortgage that the policy is canceled and there is a fire loss, what could the mortgage company collect? Official Used Car Guide Amount - Answer- Which amount would be paid on a Total Loss Vehicle? ...

WV Life and Health - LAW domestic insurer - Answer- Insurer that is incorporated in the same state that it operates in. Foreign Insurer - Answer- Insurer that is incorporated within another state which operates in another state (Ex. Northwestern Mutual -Incorporated in Milwaukee Wisconsin, Age...

WV HEALTH INSURANCE FINAL Which of the following will vary the length of the grace period in health insurance policies? - Answer- B) The mode of the premium payment. Which of the following is NOT covered under a long-term care policy? - Answer- A) Acute care in a hospital Which of the follo...

WV Life and Health Insurance Estate Creation VS Estate Conservation - Answer- Creation is when proceeds are paid to survivors, Conservation is when proceeds are used to pay the estate In ordinary whole life, when is face value paid - Answer- When insurer reaches 100 or at death Are employer...

WV INSURANCE PROPERTY & CASAULTY a domestic user will be examined by the commissioner at least once every ___ - Answer- 5 years. an insurance company owned by its policyholder is known as ___ - Answer- mutual insurance company. an insurance company headquartered in ohio, conducting busines...

WV health 4( social insurance) Benefit Period - Answer- period of time during which benefits are available. enrollee - Answer- A person enrolled in a health insurance plan, an insured (doesn't include dependents of the insured) Pre-existing conditions - Answer- conditions for which the ins...