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NC health insurance final exam practice pt 2 Questions and Answers Fully Solved
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NC health insurance final exam practice pt 2
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NC health insurance final exam practicept 2
Which of the following is not one of the 12 required provisions for health
insurance policies set forth by the NAIC? - answerwaiver of premium provision
Medical expense policies cover a wide range of services and care. The
way in which they cover the cost of these services and the way in which
covered care services are delivered depends on which of the following? - answer the
plan or policy
Which statement about disability reducing term insurance policies is
NOT correct? - answer The benefit payment under such policies increases over the
policy's term.
Delta Inc. pays the premiums on a disability buyout
policy, a business overhead policy, and a key executive disability policy. For which
policies
can it take an income tax deduction for the premiums it pays? - answer business
overhead policy
During the application process, insurance coverage can be provided
under a conditional receipt or which of the following? - answera temporary insurance
receipt
Gracie owns a Medicare Advantage policy and requires emergency care
while visiting her daughter, but there are no network providers nearby.
What should Gracie do? - answersee a nonnetwork provider
What do group short-term disability income plans generally limit
coverage to? - answernon-occupational disabilities
Abby, age 66, just purchased an individual health insurance policy. On
what basis can the insurer exclude coverage for diabetes, a condition
that Abby was diagnosed with one year ago? - answerThe insurer may limit coverage
only if Abby's pre-existing condition was specifically defined in the policy
To encourage employer-provided health-care coverage, the federal government has
enacted laws that provide new and innovative ways to finance the costs of medical care.
These methods include all of the following EXCEPT: - answerindividual retirement
accounts (IRAs)
, If a group health insurance policy terminates, an employee can elect to
continue coverage provided he or she has been insured under the plan
for how long before it terminates? - answer3 months
Which of the following is NOT an unfair claims settlement practice if
committed by an insurance company in North Carolina? - answerfailing to promptly
settle a claim for which liability is uncertain
Insurers can sell both qualified and non-qualified LTC policies. What can
those who buy qualified policies do? - answerdeduct their premium payments from their
federal income taxes within certain specified limits
Greg's basic hospital plan provides for hospital room and board for a
maximum of 30 days with a maximum benefit of $3,000. If Greg also had
a supplementary major medical policy, what would that supplementary
plan cover? - answerhospital room and board beginning on the 31st day and costs
above $3,000
Which of the following can be used either to limit or expand coverage by
adding optional benefits? - answera health insurance policy rider
Abby received $15,000 of benefits this year under her group HMO plan.
Which of the following statements is correct? - answerShe is not required to include any
part of the benefits in her income.
Sara just purchased a disability income policy and is reading the fine
print. Assuming she meets the policy's definition of disability, in which
of the following scenarios will coverage under her policy apply? - answerIn a freak
accident, she is struck by lightning and is paralyzed.
In the case of an insurer that employs agents in the field, which of the
following has primary responsibility for delivering a new policy to the
policyholder? - answeragent
Selene just turned 65 and is overwhelmed by the Medicare program. She
knows that part of her coverage is provided at no charge and that she
will pay for other parts. Which of the following coverages will she have
to buy through a private insurer? - answerMedicare Advantage
Contributions are tax deductible and accumulate tax free, with taxfree
distributions for qualified medical expenses under which of the
following? - answerhealth savings accounts (HSAs)
Workers' compensation plans offer all of the following benefits to
covered workers EXCEPT - answerexpenses of running a business until a disabled
worker can return to work
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