Texas Life And Health Final Exam Questions And Answers Well Illustrated.
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Course
Texas Life and Health
Institution
Texas Life And Health
Texas Life And Health Final Exam Questions And Answers Well Illustrated.
A certificate of _____ permits an insurance company to transact business in Texas. - correct answer. Authority
Which of the following statements about Health Reimbursement Arrangements (HRA) is CORRECT? - cor...
Texas Life And Health Final Exam
Questions And Answers Well Illustrated.
A certificate of _____ permits an insurance company to transact business in Texas. -
correct answer. Authority
Which of the following statements about Health Reimbursement Arrangements (HRA) is
CORRECT? - correct answer. If the employee paid for qualified medical expenses,
the reimbursements may be tax-free
The individual who provides general medical care for a patient as well as the referral for
specialized care is known as: - correct answer. Primary Care Physician
Medicaid was designed to assist individuals who are - correct answer. Below a
specific income limit
Which of the following is a valid reason for an enrollee to be cancelled by a Health
Maintenance Organization (HMO) plan? - correct answer. Nonpayment of Coverage
Under federal tax laws, what is the tax treatment for an employer providing $50,000 of a
contributory group Term Life plan to all its eligible employees? - correct answer.
Portion of the premiums paid for by the EMPLOYER may be a tax deduction.
Under a Long Term Care policy, which benefit would be typically excluded or limited? -
correct answer. Alcohol Rehabilitation
What is considered to be a characteristic of a Conditionally Renewable Health
Insurance policy? - correct answer. Premiums may increase at time of renewal
Which Long Term Care insurance statement is true? - correct answer. Pre-existing
conditions must be covered after the coverage has been in force for six months
, Group/voluntary long-term care policy premiums are typically deducted from the
employee's income and - correct answer. Are less costly as compared to individual
long term care coverage
The Consolidated Omnibus Budget Reconciliation Act (COBRA) gives workers (and
their families) whose employment has been terminated the right to: - correct answer.
continue group health benefits
Which of these terms accurately defines an underwriters assessment of information on
a life insurance application? - correct answer. Risk Classification
Any changes made on an insurance application requires the initials of whom? - correct
answer. Applicant
A medicare supplement policy may be cancelled for which of the following reasons? -
correct answer. The premium has not been paid by the insured
A 55 year old recently received $30,000 distribution from a previous employers 401k
plan, minus the $6,000 withholding. Which federal taxes apply if none if none of the
funds were rolled over? - correct answer. Income taxes plus a 10% penalty tax on
$30,000
To terminate an agents appointment, an insurance company must - correct answer.
send termination notice to the Texas Department of Insurance
L takes out a life insurance policy and dies 10 years later. During the claim process, the
insurer discovers that L had understated her age on the application. Under the
Misstatement of Age provision, the insurer will - correct answer. adjust the death
benefit to a reduced amount
Which of the following actions will an insurance company most likely NOT take if an
applicant, who has diabetes, applies for a disability income policy? - correct answer.
Issue the policy with an altered Time of Payment of Claims provision
The Notice of Claims provision requires a policy owner to: - correct answer. Notify an
insurer of a claim within a specified time
As a condition for a loan, a bank requires the borrower to purchase credit insurance
from a specific company. What is the bank guilty of? - correct answer. Coercion
Which of these arrangements allows one to bypass insurable interest laws? - correct
answer. Investor-Originated Life Insurance
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