Insurance company answ - Study guides, Class notes & Summaries

Revenue Cycle - RHIT Exam What systems have been used to manage the costs of the Medicare and Medicaid programs: -ANSW- The Prospective Payment Systems (PPS) Provide healthcare benefits to full-time employees of a company -ANSW- Group Health Insurance

An insurance company that is authorized to conduct business in a particular state: Admitted insurer. In CT if a notice of hearing is sent out by the commissioner it must: List the charges/accusations against the licensee and will be held in not less than 30 days. If the CT commissioner want to investigate/examine the books and records of an insurer or licensee he can do so: Anytime. An insurer who has not been issued a certificate of authority and cannot operate in CT is known as: Non-a...

Accelerated benefits - Answer - riders attached to life insurance policies which allow death benefits to be used to cover nursing or convalescent home expenses accident - Answer - an unplanned, unforeseen event which occurs suddenly at an unspecified place Accidental Death and Dismemberment - Answer - an insurance policy which pays a specified amount or a specified multiple of the insured's benefits if the insured dies, loses sight, or loses two limbs accidental death benefits - Answer...

Casualty PearsonVUE Practice Tests 2024/2025 A private passenger auto policy may be canceled more than sixty days after the effective date for what reason? (i.e. drivers license status) - ANSW Suspension of the insured's driver's license An insurance company may deny an employee's claim for Workers Compensation benefits if the employee was: - ANSW drunk and caused the injury

Chief Executive Officer of the Office of Insurance Correct Answer: Insurance and Safety Fire Commissioner (Commissioner) What is the Ins. Commissioner's term of office? Correct Answer: 4 years Chief Deputy Commissioner Correct Answer: Appointed by commissioner and assumes duties if the commissioner is disabled or absent Powers of Commissioner Correct Answer: Regulation Examination of records Investigation Hearing and judicial review Issuing penalties Regulatory Authority Cor...

duty-based ethics - Answer- Individual is expected to do the right thing cause it's the right thing to do, regardless of outcome utalitarian ethics - Answer- Sells the optimal result for the greatest number of people Advisory note - Answer- Punishment for a technical breach Administrative penalty/ fine - Answer- One or two potentially serious infraction would cause this punishment Ratification- acting without authority or in excess of authority Implication- advice outside of object...

STATE FARM PROPERTY AND CASUALTY Question and answers rated A+ 2023 duties of the insured - correct answer 1. pay the premium 2. take all reasonable means to save and protect the property from loss 3. give the insurance company immediate notice of loss 4. give the insurance company proof of loss within 60 days of the loss 5. separate the damaged property from the undamaged property and allow the insurance company to inspect the undamaged property as well as the insured's books and ...

Acquiring cash from owners - correct answer Cash Capital stock Acquiring cash by borrowing - correct answer Cash Notes payable Acquiring fixed assets (ppe) with cash - correct answer Asset Cash Purchasing inventory on account - correct answer Inventory Accounts payable Selling inventory on account - correct answer Accounts receivable Sales revenue Cost of goods sold Inventory Collecting cash on account - correct answer Cash Account rece...

worksheet - correct answer worksheet life - correct answer reduced accidents saves money, but the preservation of _______ should be of paramount concern to any management team easy - correct answer direct costs are ______ to identify and quantify insurance companies - correct answer direct costs are usually paid by submitting claims to _____ companies medical cost, repair cost for damaged equipment, administrative - correct answer an example of a direct cost ...

2O24 LOUISIANA PROPERTY AND CASUALTY//LOUSIANA PROPERTY AND CASUALTY INSURANCE EXAM WITH QUESTION AND CORRECT VERIFIED ANSWERS|GRADED A+ Driver A has a personal auto policy with Part C: UM/UIM limits of 100/300. He is injured by Driver B who has Part A: Bodily Injury Liability limits of 50/100. It is determined that Driver B is at fault for the accident. Driver A has $125,000 in medical expenses. How much will his Part C: UM/UIM coverage pay? a) $125,000 b) $75,000 c) $50,000...