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Health Insurance Exam Questions and Answers Rated A+
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Health Insurance Exam
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Health Insurance ExamWhich type of policy with paying employees salary if the employer was injured in a
bicycle accident and out of work for six weeks? - answer Business Overhead Expense
On an accidental death and dismemberment insurance policy (AD&D) who is qualified
to change the beneficiary designation? - answer Policyowner
Which of the following statements does not accurately describe the tax treatment of
premiums and benefits of individual accident and health insurance? - answer Disability
income policy premiums are tax deductible
All of the following statements regarding group health insurance are true, EXCEPT -
answeran individual policy is given to each member
P is insured under a basic cancer plan which of the following conditions would be
covered under this plan? - answerOperation for a malignant tumor
A policy owners rice are limited under which beneficiary designation -
answerIrrevocable
Which of the following would be a likely candidate for disability income insurance on a
key employee? - answerCompany executive
Which of the following characteristics is associated with a large group disability income
policy? - answerNo medical underwriting
A business overhead expense policy - answerWhere is business expenses such as rent
and utilities
Many small business owners worry how their business will survive financially if the
owner becomes disabled. The policy which best addresses this concern is -
answerBusiness overhead expense
Which type of policy pays benefits to a policyholder covered under a hospital expense
policy? - answerreimbursement
P loses an arm and a farm accident and has paid $10,000 from his accidental death and
dismemberment policy. This benefit is known as the - answerCaptital Sum
The federal income tax treatment of employer provided group medical expense
insurance can be accurately described as - answerEmployee premiums paid by the
employer is tax deductible to the employer as a business expendinture
, T is covered by an accidental death and dismemberment policy that has an irrevocable
beneficiary. What action will the insurance company take if T request a change of
beneficiary? - answerRequest of the change will be refused
The benefits under a disability buy-out policy are - answerPayable to the company or
another shareholder
Accidental death coverage is provided to commercial airline passengers and which of
the following types of policies? - answerBlanket Accident policy
The provision in a group health policy that allows the insurer to post phone coverage for
a covert illness 30 days after the policies a better day is referred to as the -
answerWaiting Period
The difference between group insurance and blanket health policies is - answerBlanket
health policies do not issue certificates
G is an accountant who has 10 employees and is concerned about how the business
with survive financially if he became disabled. The type of policy which best address this
concern is - answerBusiness Overhead Expense
Consolidated Omnibus Budget Reconciliation Act (COBRA) Gives workers and their
families whose employment has been terminated the right to - answercontinue group
health benefits
Group health plan typically contain a coordination of benefits provision. This provisions
purpose is to - answerAvoid the duplication of benefit payments
Which of the following best describes how a policy that uses the "accidental bodily
injury"definition of an accident differs from the one that uses the "accidental means"
definition - answer
The coordination of benefits provision - answerPrevents and insured covered by two
health plans from making a profit on a covered loss
Under what system do a group of doctors and hospitals in a designated area contract
with an insurer to provide services to a prearranged cost to the insured? - answerPPO
The percentage of an individual's primary insurance amount determines the benefits
paid and which of the following programs? - answerSocial Security disability income
Which of these statements is incorrect regarding a preferred provider organization(PPO)
- answerPPO's are NOT a type of managed care systems
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