Arkansas Health Insurance Exam Terms Questions and Correct Solutions 100%
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Course
Arkansas Health Insurance
Institution
Arkansas Health Insurance
Arkansas Health Insurance Exam Terms
Questions and Correct Solutions 100%
Accident - CORRECT ANSWER-An unplanned, unforeseen event which occurs
suddenly and at an unspecified place.
Accident Insurance - CORRECT ANSWER-A type of insurance that protects the insured
against loss due to accident...
Arkansas Health Insurance Exam Terms Questions and Correct Solutions 100% Accident - CORRECT ANSWER -An unplanned, unforeseen event which occurs suddenly and at an unspecified place. Accident Insurance - CORRECT ANSWER -A type of insurance that protects the insured against loss due to accidental bodily injury. Accidental Bodily Injury - CORRECT ANSWER -Unplanned, unforeseen traumatic injury to the body. Accidental Death and Dismemberment - CORRECT ANSWER -An insurance policy which pays a specified amount or a specified multiple of the insured's benefit if the insured dies, loses his or her sight, or loses two limbs due to an accident. Accidental Death Benefits - CORRECT ANSWER -A policy rider that states that the cause of death will be analyzed to determine if it complies with the policy description of accidental death. Acquired Immunodeficiency Syndrome (AIDS) - CORRECT ANSWER -An infectious and incurable disease caused by the human immunodeficiency virus (HIV). Activities of Daily Living - CORRECT ANSWER -Activities individuals must do every day such as moving about, getting dressed, eating, bathing, etc. Actual Charge - CORRECT ANSWER -The amount a physician or supplier actually bills for a particular service or supply. Adhesion - CORRECT ANSWER -A contract offered on a "take -it-or-leave -it" basis by an insurer, in which the insured's only option is to accept or reject the contract. Any ambiguities in the contract will be settled in favor of the insured. Admitted (Authorized) Insurer - CORRECT ANSWER -An insurance company authorized and licensed to transact insurance in a particular state. Adult Day Care - CORRECT ANSWER -A program for impaired adults that attempts to meet their health, social, and functional needs in a setting away from their homes. Adverse Selection - CORRECT ANSWER -The tendency of risks with higher probability of loss to purchase and maintain insurance more often than the risks who present lower probability. Agent - CORRECT ANSWER -An individual who is licensed to sell, negotiate, or effect insurance contracts on behalf of an insurer. Aleatory - CORRECT ANSWER -A contract in which participating parties exchange unequal amounts. Insurance contracts are aleatory in that the amount the insured will pay in premiums is unequal to the amount the insurer will pay in the event of a loss. Alien Insurer - CORRECT ANSWER -An insurance company that is incorporated outside the United States. Alzheimer's Disease - CORRECT ANSWER -A disease that causes the victim to become dysfunctional due to degeneration of brain cells and severe memory loss. Ancillary - CORRECT ANSWER -Additional, miscellaneous services provided by a hospital, such as x -rays, anesthesia, and lab work, but not hospital room and board. Apparent Authority - CORRECT ANSWER -The appearance or the assumption of authority based on the actions, words, or deeds of the principal or because of circumstances the principal created. Approved Amount - CORRECT ANSWER -The amount Medicare determines to be reasonable for a service that is covered under Part B of Medicare. Assignment - CORRECT ANSWER -A claim to a provider or medical supplier to receive payments directly from Medicare. Attained Age - CORRECT ANSWER -The age of the insured at a determined date. Attending Physician's Statement (APS) - CORRECT ANSWER -A statement usually obtained from the applicant's doctor. Avoidance - CORRECT ANSWER -A method of dealing with risk (e.g. if a person wanted to avoid the risk of being killed in an airplane crash, he/she might choose never to fly in a plane). Basic Hospital Expense Insurance - CORRECT ANSWER -Coverage that provides benefits for room, board and miscellaneous hospital expenses for a certain number of days during a hospital stay. Basic Medical Expense Insurance - CORRECT ANSWER -Coverage for doctor visits, x -
rays, lab tests, and emergency room visits; benefits, however, are limited to specified dollar amounts. Beneficiary - CORRECT ANSWER -The person who receives the proceeds from the policy when the insured dies. Benefit period - CORRECT ANSWER -The length of time over which the insurance benefits will be paid for each illness, disability or hospital stay. Birthday rule - CORRECT ANSWER -The method of determining primary coverage for a dependent child, under which the plan of the parent whose birthday occurs first in the calendar year is designated as primary. Blanket Medical Insurance - CORRECT ANSWER -A policy that provides benefits for all medical costs, including doctor visits, hospitalization, and drugs. Boycott - CORRECT ANSWER -An unfair trade practice in which one person refuses to do business with another until he or she agrees to certain conditions. Buyer's Guide - CORRECT ANSWER -A booklet that describes insurance policies and concepts, and provides general information to help an applicant make an informed decision. Cafeteria Plan - CORRECT ANSWER -A selection of health care benefits from which an employee may choose the ones that he/she needs. Capital Amount - CORRECT ANSWER -A percentage of the principal amount of a policy paid to the insured if he/she suffered the loss of an appendage. Carriers - CORRECT ANSWER -Organizations that process claims and pay benefits in an insurance policy. Cease and Desist Order - CORRECT ANSWER -A demand of a person to stop committing an action that is in violation of a provision. Certificate of Authority - CORRECT ANSWER -A document that authorizes a company to start conducting business and specifies the kind(s) of insurance a company can transact. It is illegal for an insurance company to transact insurance without this certificate. Certificate of Insurance - CORRECT ANSWER -A written document that indicates that an insurance policy has been issued, and that states both the amounts and types of insurance provided.
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