Exam (elaborations)
NC Health Insurance Exam Pearson Vue
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NC Health Insurance Exam Pearson Vue
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Name: Score:214 Multiple choice questions
Term 1 of 214
what age can one purchase a insurance policy on someone else?
60 days
18
18 months
disability
Term 2 of 214
Law of Large numbers
small numbers lead to more predictable losses
the larger the number the more random the losses become
one or more and does not loose his commissions or renewals
the larger the number the easier it is to predict losses
Term 3 of 214
What do Accident only policies pay for
application and premium
Federal government
ONLY accidents no health
Legal purpose insurable interest
,Term 4 of 214
how many months must an employee be on a plan before they can convert to individual plan?
30 days with no overage
6 months with no overage
3 mos and no more than 63 days of no overage
1 year with no overage
Term 5 of 214
peril
cause of loss
result of loss
amount of loss
uncertainty of loss
Term 6 of 214
how long before a totally disabled will a policy pay the principle sum
within a reasonable period of time
within thirty days
within one year
one company
,Term 7 of 214
Reinsurance agreements
mandate insurance companies to reduce their coverage limits
involve the sharing of profits between insurance companies
enable an insurance company the ceding company to transfer risk to the reinsurer (seller)
require insurance companies to increase their premiums
Term 8 of 214
what does the commissioner do in office?
oversee city planning and development projects
manage public transportation systems
enforce environmental protection policies
carry our insurance laws by issuing rules and regulations
Definition 9 of 214
concealment or misrepresentation is intended to hurt someone else
rebating
warranty
twisting
fraud
, Term 10 of 214
how are cataracts and glaucoma covered
FEderal Government
limited benefit policy
unequal insurance policy
regular medical expense
Term 11 of 214
what are the four elements of a legal contract
intermediary
the insured
application and premium
consideration- values exchanged
Term 12 of 214
who takes control of an insurance company if their obligations can not be met to the public?
(insolvency)
Restorative
the State DOI
limited Benefit Policy
past, Present, Future
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