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Wisconsin Accident and Health Insurance Exam 3 well answered to pass
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Wisconsin Accident and Health Insurance Exam 3 well answered to pass
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Wisconsin Accident and HealthInsurance Exam 3
What is the consequence for an intermediary's failure to pay his/her biennial license fee?
Intermediary is incarcerated by the Insurance Commissioner.
Intermediary's license is suspended for 180 days.
Intermediary's license is revoked.
Intermediary's commission rate is reduced. - correct answer ✔✔Intermediary's license is revoked.
Which of these situations would NOT potentially involve a prison sentence under Federal law?
Selling insurance with a nonresident license.
Misappropriating insurance premiums.
Embezzlement of an insurer's funds.
Sending threatening letters to an insurer. - correct answer ✔✔Selling insurance with a nonresident
license.
How long can pre-existing conditions be excluded in long-term care policies?
6 months.
12 months.
18 months.
24 months. - correct answer ✔✔6 months.
What is the proper procedure for an intermediary to change his/her mailing address?
Notify the Governor's office in writing within 15 days.
,Notify the Commissioner's office in writing within 30 days.
Notify the appointing insurer in writing within 15 days.
Notify the Commissioner's office via telephone within 30 days. - correct answer ✔✔Notify the
Commissioner's office in writing within 30 days.
Health providers are compensated by a preferred provider organization (PPO) for normal dental
procedures by what means?
Usual and customary fee schedules.
Increased fee schedules.
Decreased fee schedules.
Indemnity fee schedules. - correct answer ✔✔Decreased fee schedules.
According to the Affordable Care Act, new Health Insurance Marketplaces are established by the
ICIICO.
CCIIOO.
CCOII.
CCIIO. - correct answer ✔✔CCIIO.
Which of the following is REQUIRED coverage for all newly-issued group disability (accident & health)
policies?
Alcohol treatment.
Wage loss due to unemployment.
Long-term disability.
Vision care. - correct answer ✔✔Alcohol treatment.
Which term refers to insurance written on the interests of the licensee, the licensee's employer, or the
licensee's immediate family?
,Controlled business.
Surplus lines.
Fraternal organization.
Reinsurance. - correct answer ✔✔Controlled business.
What is considered interstate travel under the Federal Fraud and False Statements Act?
Canada.
Jamaica.
Mexico.
Puerto Rico. - correct answer ✔✔Puerto Rico.
Under what circumstances must an intermediary provide his or her business records to the
Commissioner?
Upon request of an insured.
Upon request of the Commissioner.
Under no circumstances due to privacy consideration.
By authorization from the National Association of Insurance Commissioners (NAIC). - correct answer
✔✔Upon request of the Commissioner.
For group health plans covering employees in more than one state, the state regulatory jurisdiction
established for the plan may affect any of the following aspects EXCEPT
Minimum enrollment percentages.
Eligibility qualifications.
Required contract provisions.
COBRA continuation of coverage. - correct answer ✔✔COBRA continuation of coverage.
, If an intermediary chooses to conduct business under an assumed name, when must notification be
given to the Commissioner?
No notice is required.
No later than 30 days after using the assumed name.
Prior to using the assumed name.
At the time of license renewal. - correct answer ✔✔Prior to using the assumed name.
An insurance company writing business in a state other than the one in which it is domiciled is called
A foreign.
A domestic.
An Alien.
A Illegal. - correct answer ✔✔A foreign.
Which of the following is NOT a valid reason for an insurer to cancel an insurance policy midterm?
Breach of policy conditions by the insured.
Material misrepresentation.
Nonpayment of premium.
Insured's change in marital status. - correct answer ✔✔Insured's change in marital status.
How long can an insurer exclude coverage for a preexisting condition on a Medicare Supplement Policy?
6 months.
12 months.
18 months.
24 months. - correct answer ✔✔6 months.
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