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EXAMFX EXAM AND PRACTICE EXAM NEWEST ACTUAL EXAM COMPLETE 200 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+ a 63-year-old man is planning to be employed until age 68. When will he be eligible for Medicare? - ANSW..Age 65, re$18.39
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EXAMFX EXAM AND PRACTICE EXAM NEWEST ACTUAL EXAM COMPLETE 200 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+ a 63-year-old man is planning to be employed until age 68. When will he be eligible for Medicare? - ANSW..Age 65, re
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EXAMFX EXAM AND PRACTICE EXAM NEWEST
ACTUAL EXAM COMPLETE 200 QUESTIONS AND
CORRECT DETAILED ANSWERS (VERIFIED
ANSWERS) |ALREADY GRADED A+
a 63-year-old man is planning to be employed until age 68.
When will he be eligible for Medicare? - ANSW..Age
65, regardless of his employment status.
(t...
EXAMFX EXAM AND PRACTICE EXAM NEWEST
ACTUAL EXAM COMPLETE 200 QUESTIONS AND
CORRECT DETAILED ANSWERS (VERIFIED
ANSWERS) |ALREADY GRADED A+
a 63-year-old man is planning to be employed until age 68.
When will he be eligible for Medicare? - ✔✔ANSW✔✔..Age
65, regardless of his employment status.
(the individual will still be eligible for Medicare at age 65, but if
he is still insured under his employer's group health plan, the
group plan will be his primary coverage and Medicare will be
secondary coverage.)
A banker is ready to close on a customer's loan. The bank is
prepared to offer the loan but only if the customer purchases a
life insurance policy from the bank in the amount of the loan.
This is an example of - ✔✔ANSW✔✔..coercion.
(this is an example of the illegal practice of coercion)
A brain surgeon has an accident and develops tremors in her
right arm. Which disability income policy definition of total
disability will cover for all losses? - ✔✔ANSW✔✔.."Own
occupation"-less restrictive than other definitions.
,(in theory, the brain surgeon could find other work, but because
her disability income policy specifies that she is covered for her
own occupation, she would be wholly covered.)
a corporation is the owner and beneficiary of the key person life
policy. If the corporation collects the policy benefit, then -
✔✔ANSW✔✔..the benefit is received tax free.
(should a key person die, the benefit is treated as a
reimbursement to the business for loss of services from that key
person.)
A couple owns a life insurance policy with a Children's Term
rider. Their daughter is reaching the maximum age of dependent
coverage, so she will have to convert to permanent insurance in
the near future. Which of the following will she need to provide
for proof of insurability? - ✔✔ANSW✔✔..proof of insurability
is not required.
(if a Children's Term rider is attached to a life insurance policy,
children can be covered under the policy until they reach the
maximum age stated in the policy. at that point, they can convert
their coverage to a new policy without having to issue proof of
insurability.)
A deductible is) - ✔✔ANSW✔✔..A specified dollar amount
that the insured must pay first before the insurance company will
pay the policy benefits.
(The purpose of a deductible is to have the insured absorb the
smaller claims, while the coverage provided under the policy
will absorb the larger claims. The higher the deductible, the
lower the premium.)
,A father owns a life insurance policy on his 15-year-old
daughter. The policy contains the optional Payor Benefit rider. If
the father becomes disabled, what will happen to the life
insurance premiums? - ✔✔ANSW✔✔..the insured's premiums
will be waived until she is 21.
(if the payor (usually a parent or a guardian) becomes disabled
for at least 6 months or dies, the insurer will waive the
premiums until the minor reaches a certain age, such as 21.)
a father purchases a life insurance policy for his teenage
daughter and adds the payor benefits rider. in which of the
following scenarios will the rider waive the payment of the
premium? - ✔✔ANSW✔✔..if the father is disabled for more
than 6 months.
(payor benefits only pay if the owner, the father in this example,
is disabled for at least 6 months.)
A guaranteed renewable disability insurance policy -
✔✔ANSW✔✔..Is renewable at the insured's option to a
specified age.
(Guaranteed renewable means that the insured has the right to
keep the policy until a specific age; however, while the insurer
cannot increase the rates on an individual basis, the insurer can
increase the rates for all insured by class.)
a guaranteed renewable health insurance policy allows the -
✔✔ANSW✔✔..Policyholder to renew the policy to a stated age,
with the company having the right to increase premiums on the
entire class.
, (coverage is guaranteed, but rates can be adjusted for the entire
class)
A health insurance policy lapses but is reinstated within an
acceptable timeframe. How soon from the reinstatement date
will coverage for accidents become effective? -
✔✔ANSW✔✔..Immediately.
(Coverage for accidents is immediate when reinstatement
occurs, but coverage for sickness may have a waiting period of
about 10 days.)
A health insurance policy that pays a lump sum if the insured
suffers a heart attack or stroke is known as -
✔✔ANSW✔✔..Critical illness.
(A critical illness policy covers multiple illnesses, such as heart
attack, stroke, renal failure, and pays a lump-sum benefit to the
insured upon the diagnosis (and survival) of any of the illnesses
covered by the policy.)
a hospital indemnity policy will pay - ✔✔ANSW✔✔..A benefit
for each day the insured is in the hospital
(Hospital confinement indemnity policies pay specific amounts
that depend on the amount of time the insured is confined to the
hospital)
A life insurance policy has a legal purpose if both of which of
the following elements exist? - ✔✔ANSW✔✔..Insurable
interest and consent.
(to ensure the legal purpose of a life insurance policy, it must
have both insurable interest and consent)
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