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PSI Life, Accident, And Health Questions And Answers Rated (A+)
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PSI Life, Accident, And Health Questions AndAnswers Rated (A+)
Quiz :How long after being entitled to disability benefits will an individual be
eligible to receive Medicare benefits?
A. immediately
B. 1 year
C. 2 years
D. At age 65 - Answer :2 years
Quiz :What is the return of premium rider?
A. an increasing amount of term insurance that always equals the total of
premiums paid up to the current point
B. a provision that allows the insured to cancel the policy in the first two years
and have premiums refunded
C. an increasing amount of term insurance that equals the cash value of the
policy at any point in time
D. a provision that states the insurer must return any premiums paid during
the free-look period - Answer :an increasing amount of term insurance that
always equals the total of premiums paid up to the current point
Quiz :In a home healthcare benefit, all of the following are eligible expenses
EXCEPT
A. intermittent part-time nursing care;
B. physical, occupational, or speech therapy;
C. blood transfusions
D. medical social services; - Answer :blood transfusions
Quiz :All of the following are classifications of risk EXCEPT
A. substandard
B. preferred
C. declined
D. non-nicotine - Answer :non-nicotine
Quiz :Which of the following is exempted from the incontestability provision in
insurance policies?
A. fraudulent misstatements
B. pre-existing conditions
C. change in health
D. changes in the insurance code - Answer :fraudulent misstatements
, Quiz :A group conversion option may be used in all the following instances
EXCEPT
A. the termination of the master policy.
B. loss of coverage due to loss of employment.
C. loss of eligibility on the part of a class of insureds.
D. a life-changing event, such as marriage, divorce, or childbirth. - Answer :a
life-changing event, such as marriage, divorce, or childbirth.
Quiz :Which of the following is characteristic of a non-qualified plan?
A. defined vesting schedule
B. plan established by the employer
C. plan does not meet federal guidelines for tax benefits
D. employer contributions are deductible business expenses - Answer :plan
does not meet federal guidelines for tax benefits
Quiz :What does it mean if a health policy is conditionally renewable?
A. Insurer may elect NOT to renew based on the health of the insured.
B. Insurer may elect NOT to renew for any reason only on the policy
anniversary or premium due date.
C. Insurer may elect NOT to renew only under conditions specified in the
policy.
D. Insurer may elect NOT to review if the insured exceeds the maximum
number of claims. - Answer :Insurer may elect NOT to renew only under
conditions specified in the policy.
Quiz :Which of the following is TRUE of an equity-indexed annuity?
A. It is a variable annuity.
B. It may decrease in value.
C. It requires a securities license to sell.
D. It has a guaranteed minimum interest rate. - Answer :It has a guaranteed
minimum interest rate
Quiz :During which period of a Disability Income Policy is coverage effective
but during which no benefits will be paid under the policy?
A. benefit period
B. elimination period
C. grace period
D. probationary period - Answer :probationary period
, Quiz :What specific new procedures does the USA Patriot Act require of
insurance companies?
A. Establish an anti-money laundering program
B. Investigate applicants for potential terrorist links
C. Report large transactions by charitable organizations
D. To take action against employees for failure to implement the Act. - Answer
:Establish an anti-money laundering program
Quiz :A consumer report used to determine eligibility for insurance may
include all of the following EXCEPT
A. character.
B. reputation.
C. credit information.
D. medical underwriting exam. - Answer :medical underwriting exam.
Quiz :All of the following are TRUE regarding incomplete applications EXCEPT
A. the underwriting department will return the application to the agent.
B. the applicant will have to wait additional time before coverage begins.
C. there will be a delay in the underwriting process.
D. the incomplete application can be accepted with the missing information
added later. - Answer :the incomplete application can be accepted with the
missing information added later.
Quiz :Compared to basic hospital, medical and surgical policies, which type of
insurance provides broader coverage, fewer gaps, higher individual benefits,
and higher policy maximums?
A. medicaid insurance
B. major medical insurance
C. supplemental medical insurance
D. long term care insurance - Answer :major medical insurance
Quiz :Which type of rider reimburses health and social service expenses
incurred in a convalescent or nursing home facility?
A. accelerated benefits rider
B. assisted living rider
C. terminal illness rider
D. long term care rider - Answer :long term care rider
Quiz :All of the following are characteristics of COBRA EXCEPT
A. qualifying events.
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