Which element of a contract constitutes a definite and unqualified proposal by one party to another? - ANSWER Offer
Skilled nursing facility expenses are sometimes covered by ___________, but ONLY if the insured was hospitalized prior to entering the facility. - ANSWER Medicare
Disability inc...
Which element of a contract constitutes a definite and unqualified proposal by one party to another? -
ANSWER Offer
Skilled nursing facility expenses are sometimes covered by ___________, but ONLY if the insured was
hospitalized prior to entering the facility. - ANSWER Medicare
Disability income policies provide protection for which of the following? - ANSWER Economic Death
Christine is receiving benefits provided from her disability income insurance. As compared to her
previous earnings, the disability benefits should be - ANSWER Somewhat less
What is normally the consequence for NOT obtaining preadmission certification prior to receiving
inpatient medical care? - ANSWER A reduction in benefits
Under the law of agency, the principal is considered to be - ANSWER The insurer
Which of these is not considered the responsibility of a producer during the underwriting process? -
ANSWER Selecting the final approval date
Which of the following statements is TRUE if the owner of an IRA names their spouse as beneficiary, but
then dies before any distributions are made? - ANSWER The account can be rolled into the surviving
spouse's IRA
What is the maximum number of employees (earning at least $5,000) that an employer can have in
order to start a SIMPLE retirement plan? - ANSWER 100
A signed good health statement may be requested by a life producer at the time of ____________ -
ANSWER Policy delivery
, A retirement plan that sets aside part of the company's net income for distributions to qualified
employees is called a - ANSWER profit-sharing plan
Which factor determines the maximum disability income benefit that can be purchased by an applicant?
- ANSWER The applicants income
Which of these is not a factor that influences group health insurance underwriting? - ANSWER Physical
exams of group members
An advantage of owning a flexible premium life insurance policy would be - ANSWER The policyowner
can make policy changes without difficulty
Darrel has a group long-term disability income policy paid by his employer. Which of these statements is
true? - ANSWER The specified benefit amount is a percentage of the covered employee's wages.
Free-for-service is a method of administering health insurance benefit payments in which - ANSWER the
cost of each service is scheduled
A policy owner is permitted to take out a policy loan in a while life policy at what point? - ANSWER when
the policy has a cash value
Which of the following actions would be considered a felony in the state of Arizona? - ANSWER
Attempting to defraud an insurer
A reciprocal typically has an administrator who manages the premiums collected from the groups
members. This administrator is called a(n) - ANSWER attorney-in-fact.
Reductions in coverage are one feature of _________ in Health insurance policies. - ANSWER Cost
containment
The law of large numbers enables an insurer to - ANSWER predict losses
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