LIFE, ACCIDENT AND HEALTH OR SICKNESS EXAM 2024 LATEST VERSION QUUESTIONBANK ACTUAL EXAM QUESTIONS WITH CORRECT DETAILED ANSWERS A Long Term care insurance rider can include coverage for all of the following EXCEPT : Correct Answer Hospital acute care Which statement best describes a life insurance policy dividend ? Correct Answer Legally defined as a return of excess premium and not taxable. Which of the following information is not required to be communicated in a life insurance contract? Correct Answer Personal judgment When a re parties to a contract required to communicate information solely based on personal judgment for a matter in question? Correct Answer Never After the deductible is paid , what percentage of the balance of approved charge does Medicare part A pay ? Correct Answer 80% Medicare Part A provides coverage for all of the following , EXCEPT : Correct Answer Physician services Benefits under social security are available only for workers who are Correct Answer Fully insured ( 40 quarters of coverage ) For social security purpose , a person with 40 quarters of coverage is considered. Correct Answer Fully insured ( 40 quarters of coverage ) Who are members of the Medical information bureau ? Correct Answer Life and health insurers ( life and health insuran ce companies ) Which of the following is the best definition of premium ? Correct Answer Money the insured pays the insurer to obtain the benefits in the policy . What rule is used to determine the importance of a representation ? Correct Answer The ma teriality of concealment The theory of probability is applied to life insurance through the use of Correct Answer Mortality tables In health insurance , the result of a rise in the morbidity rate is : Correct Answer Increased premium In the absence of a coordination of benefits clause , all of the following circumstance might result in recovery of more than 100 % of actual health ca re expense EXCEPT Correct Answer A worker's medical plan included a carryover deductible provision An individual is allowed to enroll in individual health insurance under the following circumstances EXCEPT Correct Answer Within 30 days of being diagnose d with an illness Which policy covering two or more individuals pays the face amount only when the first person dies ? Correct Answer Joint life policy The acts that are reasonably necessary to the duties expressly authorized would be covered by an agen t's Correct Answer Implied authority Which type of insurance guarantees the right to renew the policy each year , regardless of health , but increased premiums Correct Answer individuals the duties right Renewable term Life insurance policies written w ithout a physical examination are called : Correct Answer Non - medical Part - time nursing care that follows a hospitalization and can be provided in a patient's home is covered under Correct Answer Home health care benefits Regarding the Health Benef it Exchanges , as created by PPACA , all of the following statements are true EXCEPT Correct Answer An individual enrolling in a bronze level plan is not eligible for reduced cost sharing An attempt by an agent to deter an insured from replacing an existing life insurance policy is called : Correct Answer Conservation All of the following statements are true regarding Health Insurance Counseling Advocacy program HICAP counselors EXCEPT Correct Answer Are qualified to give legal advice A 10 years perio d certain annuity with an installment refund is purchased . The annuitant dies after being receiving monthly payments for 5 years . How many remaining payments will the insurer make ? Correct Answer 60 payments NAIC reporting frequency for insurer financ ial statements is Correct Answer Annually Which of the following statements regarding risk is TRUE Correct Answer Only pure risks are insurable The California Code of Regulations governing claim settlement practice prohibits all of the following acts of unfair discrimination EXCEPT denial of claim based on Correct Answer Reckless behavior What is it called when an insurer uses higher rates based solely on religion , race or ethnic group ? Correct Answer Unfair discrimination All of the following statements about aleatory contracts are true EXCEPT : Correct Answer The insured and insurer contribute equally to the contract A contract in which o ne party promises to indemnify another against loss that arises from an unknown event is : Correct Answer An insurance policy A commonly used cost containment measure for emergency hospital care under a major medical expense plan is? Correct Answer Dedu ctible An insurer entitled to transact business by complying with the California Insurance Code? Correct Answer Admitted carrier An insurance solicitor is a person authorized to : Correct Answer Assist a broker or agent in selling insurance Upon notif ication of a claim , a claimant may have access to the California Fair Claims Settlement Practices Regulations through all of the following means EXCEPT Correct Answer An interview appointment with the agent of record
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