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Life, Accident, Health Insurance Tests Compilation Bundle
Life, Accident, Health Insurance Tests Compilation Bundle
[Show more]Life, Accident, Health Insurance Tests Compilation Bundle
[Show more]Primerica-Life Insurance 
 
Stranger-oriented life insurance policies are in direct opposition to the principle of 
a. law of large numbers 
b. good faith 
c. indemnity 
d. insurable interest Correct Answer: d. insurable interest-STOLI purchaser doesn't know the insured, or have any interest in th...
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Add to cartPrimerica-Life Insurance 
 
Stranger-oriented life insurance policies are in direct opposition to the principle of 
a. law of large numbers 
b. good faith 
c. indemnity 
d. insurable interest Correct Answer: d. insurable interest-STOLI purchaser doesn't know the insured, or have any interest in th...
Health and life insurance 2022 QUESTIONS WITH COMPLETE SOLUTIONS 
 
Carla has written life insurance policies on the lives of her children. What type of business is this considered? Correct Answer: Controlled 
 
John knowingly made an inaccurate comparison of coverage in order to induce his client ...
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Add to cartHealth and life insurance 2022 QUESTIONS WITH COMPLETE SOLUTIONS 
 
Carla has written life insurance policies on the lives of her children. What type of business is this considered? Correct Answer: Controlled 
 
John knowingly made an inaccurate comparison of coverage in order to induce his client ...
Sally is considering her Medicare options. She understands that to enroll in Medicare Part B, she will have to pay a monthly premium. Since she is healthy, she is considering delaying her enrollment until later. Will she be able to enroll at a later date? 1.Yes, she can enroll at anytime in the futu...
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Add to cartSally is considering her Medicare options. She understands that to enroll in Medicare Part B, she will have to pay a monthly premium. Since she is healthy, she is considering delaying her enrollment until later. Will she be able to enroll at a later date? 1.Yes, she can enroll at anytime in the futu...
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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...
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Add to cartWhich 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...
1x sold
Multiple Employer Welfare Arrangement (MEWA) provides what type of benefits? Correct Answer: Insurance 
 
XYZ Company pays the entire premium for its group health plan. The MINIMUM percentage of eligible employees that must be covered is Correct Answer: 100% 
 
In Major Medical Expense policies, w...
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Add to cartMultiple Employer Welfare Arrangement (MEWA) provides what type of benefits? Correct Answer: Insurance 
 
XYZ Company pays the entire premium for its group health plan. The MINIMUM percentage of eligible employees that must be covered is Correct Answer: 100% 
 
In Major Medical Expense policies, w...
Basic Medical Expense policies Correct Answer: Provide coverage for Hospital, Surgical and Physicians Medical Expense. 
-Purchased as a individual or group policy. 
-provide first dollar coverage (no deductibles). 
-limited benefit periods and low coverage limits. 
 
Major Medical Expense Policy C...
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Add to cartBasic Medical Expense policies Correct Answer: Provide coverage for Hospital, Surgical and Physicians Medical Expense. 
-Purchased as a individual or group policy. 
-provide first dollar coverage (no deductibles). 
-limited benefit periods and low coverage limits. 
 
Major Medical Expense Policy C...
Group Insurance Correct Answer: - the employer is the owner and receives the 
 master contract 
- the employees are certificate holders which 
 outlines the details of it 
- underwriting is much more liberal because its a 
 large group and probably wont have adverse 
 selection 
- if you want t...
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Add to cartGroup Insurance Correct Answer: - the employer is the owner and receives the 
 master contract 
- the employees are certificate holders which 
 outlines the details of it 
- underwriting is much more liberal because its a 
 large group and probably wont have adverse 
 selection 
- if you want t...
NY Life, Accident and Health Insurance Agent/Broker Exam Series 17-55
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Add to cartNY Life, Accident and Health Insurance Agent/Broker Exam Series 17-55
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Process 2103 (d-i) Correct Answer: 1. The Superintendent may issue a license to any person, firm or corporation who has complied with the requirements of the Insurance Code, authorizing the licensee to act as agent of any authorized insurer. Every individual applicant for a license under this secti...
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Add to cartProcess 2103 (d-i) Correct Answer: 1. The Superintendent may issue a license to any person, firm or corporation who has complied with the requirements of the Insurance Code, authorizing the licensee to act as agent of any authorized insurer. Every individual applicant for a license under this secti...
Health care accounts and Dependent care accounts Correct Answer: What are the 2 types of Flexible Spending Accounts? 
 
Cash value is guaranteed Correct Answer: Concerning a Whole Life Policy, which of the following statements is correct? 
 
Unearned premiums are retained by the insurance company ...
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Add to cartHealth care accounts and Dependent care accounts Correct Answer: What are the 2 types of Flexible Spending Accounts? 
 
Cash value is guaranteed Correct Answer: Concerning a Whole Life Policy, which of the following statements is correct? 
 
Unearned premiums are retained by the insurance company ...
Elected Correct Answer: How does the Insurance Commissioner get into office. 
 
4 years Correct Answer: What is the term of the Ins. Commissioner 
 
What are the powers of the Commissioner Correct Answer: Regulation, Examination of Records, Investigation, Hearing and Judicial Review, Issuing Pena...
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Add to cartElected Correct Answer: How does the Insurance Commissioner get into office. 
 
4 years Correct Answer: What is the term of the Ins. Commissioner 
 
What are the powers of the Commissioner Correct Answer: Regulation, Examination of Records, Investigation, Hearing and Judicial Review, Issuing Pena...
What two elements are necessary to a life insurance contract to have a legal purpose? - 1. Insurable Interest 2. Consent Insurance is a contract that protects the insured from what? - Loss What Type of Risk is Insurable? - Pure What is the term for the causes of loss insured against in a insurance p...
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Add to cartWhat two elements are necessary to a life insurance contract to have a legal purpose? - 1. Insurable Interest 2. Consent Insurance is a contract that protects the insured from what? - Loss What Type of Risk is Insurable? - Pure What is the term for the causes of loss insured against in a insurance p...
Insurers are classified to their domiciles. 
 
What are the three types of insurers? Correct Answer: 1) Domestic 
2) Foreign 
3) Alien 
 
An insurance policy paid a nontaxable dividend to the insured one year, and nothing the next. 
 
From what type of insurer did the insured purchase the policy? ...
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Add to cartInsurers are classified to their domiciles. 
 
What are the three types of insurers? Correct Answer: 1) Domestic 
2) Foreign 
3) Alien 
 
An insurance policy paid a nontaxable dividend to the insured one year, and nothing the next. 
 
From what type of insurer did the insured purchase the policy? ...
Which of the following determines the cash value of a variable life policy? Correct Answer: The performance of the policy portfolio 
 
What type of insurance would be used for a return of premium rider? Correct Answer: Increasing term 
 
All insurers doing business in California must maintain a de...
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Add to cartWhich of the following determines the cash value of a variable life policy? Correct Answer: The performance of the policy portfolio 
 
What type of insurance would be used for a return of premium rider? Correct Answer: Increasing term 
 
All insurers doing business in California must maintain a de...
4 Correct Answer: A Licensed broker who participates in a national insurance association may get, from the Commissioner, how many continuing education credits? 
 
Producer, with the applicant's initials Correct Answer: Who is allowed to make changes to the application? 
 
The average age of the g...
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Add to cart4 Correct Answer: A Licensed broker who participates in a national insurance association may get, from the Commissioner, how many continuing education credits? 
 
Producer, with the applicant's initials Correct Answer: Who is allowed to make changes to the application? 
 
The average age of the g...
Health care accounts and Dependent care accounts Correct Answer: What are the 2 types of Flexible Spending Accounts? 
 
Cash value is guaranteed Correct Answer: Concerning a Whole Life Policy, which of the following statements is correct? 
 
Unearned premiums are retained by the insurance company ...
Preview 2 out of 5 pages
Add to cartHealth care accounts and Dependent care accounts Correct Answer: What are the 2 types of Flexible Spending Accounts? 
 
Cash value is guaranteed Correct Answer: Concerning a Whole Life Policy, which of the following statements is correct? 
 
Unearned premiums are retained by the insurance company ...
In which of the following instances would the premium be tax deductible? Correct Answer: Premiums paid by an employer on a $30,000 group term life insurance plan for employees 
 
The provision in a health insurance policy that ensures that the insurer cannot refer to any document that is not contai...
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Add to cartIn which of the following instances would the premium be tax deductible? Correct Answer: Premiums paid by an employer on a $30,000 group term life insurance plan for employees 
 
The provision in a health insurance policy that ensures that the insurer cannot refer to any document that is not contai...
which of the following is not a term for the period of time during which the annuitant receives income? Correct Answer: depreciation period 
 
in an adjustable life policy all of the following can be changed by the policy owner except Correct Answer: the type of investment 
 
any licensed person w...
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Add to cartwhich of the following is not a term for the period of time during which the annuitant receives income? Correct Answer: depreciation period 
 
in an adjustable life policy all of the following can be changed by the policy owner except Correct Answer: the type of investment 
 
any licensed person w...
Buying life or health insurance is an example of which risk management technique? 
 
risk avoidance 
risk reduction 
risk retention 
risk transfer CORRECT ANSWERS: risk transfer 
 
What is the mathematical concept of probability that helps insurers estimate the statistical likelihood of mortality o...
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Add to cartBuying life or health insurance is an example of which risk management technique? 
 
risk avoidance 
risk reduction 
risk retention 
risk transfer CORRECT ANSWERS: risk transfer 
 
What is the mathematical concept of probability that helps insurers estimate the statistical likelihood of mortality o...
Risk CORRECT ANSWERS: Chance of loss 
 
Loss CORRECT ANSWERS: Unplanned reduction of economic value 
 
Peril CORRECT ANSWERS: cause of loss 
 
Hazard CORRECT ANSWERS: a condition that increases the chance of peril 
 
Risk Transfer CORRECT ANSWERS: buying insurance to shift the risk to insurance...
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Add to cartRisk CORRECT ANSWERS: Chance of loss 
 
Loss CORRECT ANSWERS: Unplanned reduction of economic value 
 
Peril CORRECT ANSWERS: cause of loss 
 
Hazard CORRECT ANSWERS: a condition that increases the chance of peril 
 
Risk Transfer CORRECT ANSWERS: buying insurance to shift the risk to insurance...
For an individual long-term care policy there is an annual dollar limit for tax deductions that is based on which of the 
following? 
1. age 
2. cost of care 
3. policy value 
4. premium cost correct answer: 1 
 
The group conversion option is allowed for all of the following EXCEPT 
1. termination...
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Add to cartFor an individual long-term care policy there is an annual dollar limit for tax deductions that is based on which of the 
following? 
1. age 
2. cost of care 
3. policy value 
4. premium cost correct answer: 1 
 
The group conversion option is allowed for all of the following EXCEPT 
1. termination...
An insured purchased an insurance policy 5 years ago. Last year, she received a dividend check from the insurance company that was not taxable. This year, she did not receive a check from the insurer. From what type of insurer did the insured purchase the policy? 
 
a. mutual 
b. reciprocal 
c. nonp...
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Add to cartAn insured purchased an insurance policy 5 years ago. Last year, she received a dividend check from the insurance company that was not taxable. This year, she did not receive a check from the insurer. From what type of insurer did the insured purchase the policy? 
 
a. mutual 
b. reciprocal 
c. nonp...
Risk correct answer: uncertainty of a financial loss; 2 types 
 
Two typed of risks correct answer: Pure (Insurable) and speculative (uninsurable) 
 
Benefits of purchasing insurance? correct answer: You get to transfer financial risk left after passing to insurance company 
 
Law of large number...
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Add to cartRisk correct answer: uncertainty of a financial loss; 2 types 
 
Two typed of risks correct answer: Pure (Insurable) and speculative (uninsurable) 
 
Benefits of purchasing insurance? correct answer: You get to transfer financial risk left after passing to insurance company 
 
Law of large number...
Stranger-oriented life insurance policies are in direct opposition to the principle of 
a. law of large numbers 
b. good faith 
c. indemnity 
d. insurable interest correct answer: d. insurable interest-STOLI purchaser doesn't know the insured, or have any interest in the insured's longevity, so i...
Preview 3 out of 30 pages
Add to cartStranger-oriented life insurance policies are in direct opposition to the principle of 
a. law of large numbers 
b. good faith 
c. indemnity 
d. insurable interest correct answer: d. insurable interest-STOLI purchaser doesn't know the insured, or have any interest in the insured's longevity, so i...
401 k plan correct answer: A qualified retirement plan in which the 
employee can set aside a portion of their income 
with pre-tax dollars. 
 
Absolute Assignment v. Collateral 
Assignment correct answer: Absolute: A permanent and irrevocable transfer 
of rights and/or benefits by the policyo...
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Add to cart401 k plan correct answer: A qualified retirement plan in which the 
employee can set aside a portion of their income 
with pre-tax dollars. 
 
Absolute Assignment v. Collateral 
Assignment correct answer: Absolute: A permanent and irrevocable transfer 
of rights and/or benefits by the policyo...
Which settlement option marked minimum guaranteed dollar payments over a stated number of years? correct answer: Fixed-period 
 
Use of XYZ Insurance Company brochures, business cards, and rating guides is an example of correct answer: Apparent authority 
 
What happened to the cash value of a mar...
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Add to cartWhich settlement option marked minimum guaranteed dollar payments over a stated number of years? correct answer: Fixed-period 
 
Use of XYZ Insurance Company brochures, business cards, and rating guides is an example of correct answer: Apparent authority 
 
What happened to the cash value of a mar...
A reciprocal insurer typically has an administrator who manages the premiums collected from the group's members. This administrator is called a(n) 
 
-reciprocal commissioner 
-attorney general 
-attorney-in-fact 
-reciprocal director correct answer: attorney-in-fact 
 
Which of the following fina...
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Add to cartA reciprocal insurer typically has an administrator who manages the premiums collected from the group's members. This administrator is called a(n) 
 
-reciprocal commissioner 
-attorney general 
-attorney-in-fact 
-reciprocal director correct answer: attorney-in-fact 
 
Which of the following fina...
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