HEALTH INSURANCE- FINAL EXAM Questions AND ANSWERS(SCORED A+)
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Course
HEALTH INSURANCE-
Institution
HEALTH INSURANCE-
under a contract of adhesion, - ANSWER-The terms must be accepted or rejected in full
the Do Not Call Registry offers exemptions for calls placed from all of the following EXCEPT - ANSWER-insurance sales calls
the maximum time period that an eligible employee can be excluded from coverage und...
HEALTH INSURANCE- FINAL EXAM
Questions AND ANSWERS(SCORED
A+)
Bill the producer is collecting the initial premium on a health policy. Which of the
following statements is true? - ANSWER-The contract is not in force without the
initial premium being paid
under a contract of adhesion, - ANSWER-The terms must be accepted or rejected in
full
the Do Not Call Registry offers exemptions for calls placed from all of the following
EXCEPT - ANSWER-insurance sales calls
the maximum time period that an eligible employee can be excluded from coverage
under a group health policy as a late enrollee is - ANSWER-18 months
a health care provider claim may be settled using which of the following payment
methods - ANSWER-fee-for-service
how long must the commissioner maintain a complete record for every licensee in
arkansas for - ANSWER-as long as he/she deems necessary
Intentional withholding of material facts that would affect an insurance policy's
validity is called a(n) - ANSWER-concealment
Once a policy has been reinstated the insured must wait what amount of time before
coverage for sickness is available? - ANSWER-10 days
Kathy pays a monthly premium on her health insurance policy. How long is her grace
period? - ANSWER-10 days
which of the following is not covered under long-term care insurance in arkansas -
ANSWER-alcohol and drug addiction
if a person is convicted of a crime stemming from a hearing, a fine up to
$____________ per violation may be imposed - ANSWER-$1,000
a payment system for health care in which the provider is paid for each service given
is called - ANSWER-fee-for-service
according to arkansas law, commissions may be paid to - ANSWER-licensed and
duly appointed producers
, an insurance producer must notify the commissioner of a change in legal name,
email, or address - ANSWER-within 30 days of the change
Preferred risk policies with reduced premiums are issued by insurance companies
because the insured has - ANSWER-Better than average mortality or morbidity
experience.
an individual covered under a blue cross blue shield plan is called a(n) - ANSWER-
subscriber
When the insured gives birth, coverage for eligible newly born children consists of
coverage for injury or sickness including - ANSWER-birth abnormalities
which of the following is not a common exclusion for a medical expense policy -
ANSWER-physical therapy
The Arkansas Life & Disability Insurance Guaranty Association assures payment of
benefits from insurance policies for insolvent insurers, and covers all of the following
insured policies, EXCEPT: - ANSWER-liability insurance
a producer who sells insurance in arkansas but resides in another state is called a(n)
- ANSWER-nonresident producer
the open enrollment period for medicare part B is - ANSWER-january 1 through
march 31
An insurer has the right to recover payment made to the insured from the negligent
party. These rights are called - ANSWER-subrogation
the entire contract includes the actual policy and the - ANSWER-application
What amount will be paid under a policy where the insured misstated his/her age? -
ANSWER-an amount the premium would have purchased at the correct age
Jennifer is required to pay a specific sum out of pocket before any benefits are paid
in a year. Her health policy most likely contains a(n) - ANSWER-deductible
if an agent knows or suspects a fraudulent transaction, they must report it to the
commissioner within - ANSWER-30 days
in which of the following situations would the insurer be liable for a loss - ANSWER-
The insured suffered an injury as an innocent bystander during a bank robbery
How many employees must an employer have for a terminated employee to be
eligible for COBRA? - ANSWER-20
a health insurance policy where the insurer has the right to terminate the policy for
reasons other than the insured's health is called - ANSWER-conditionally renewable
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