Exam (elaborations)
Intro to Health Insurance Exam
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Intro to Health Insurance Intro to Health Insurance Intro to Health Insurance
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Intro to Health InsuranceAn insured covered by Accidental Death and Dismemberment (AD&D) insurance has just died. What will
happen if the primary beneficiary had already died before the insured and contingent beneficiary?
-Proceeds will go to the primary beneficiary's estate
-Probate will decide who receives proceeds
-Proceeds will go to the contingent beneficiary
-Proceeds will go to the insured's estate - ANS proceeds will go to the contingent beneficiary
If the insured and primary beneficiary are both killed in the same accident and it cannot be determined
who died first, where are the death proceeds to be directed under the Uniform Simultaneous Death
Act?
-Primary beneficiary's estate
-Primary beneficiary's next of kin
-Insured's estate
-Insured's contingent beneficiary - ANS insured's contingent beneficiary
Many small business owners worry how their business would survive financially if the owner becomes
disabled. The policy which BEST addresses this concern is
-Business Overhead Expense
-Disability Income
-Key Employee Life
-Contributory - ANS business overhead expense
T and S are named co-primary beneficiaries on a $500,000 Accidental Death and Dismemberment policy
insuring their father. Their mother was named contingent beneficiary. Five years later, S dies of natural
causes and the father is killed in a scuba accident shortly afterwards. How much of the death benefit will
the mother receive?
,$1,000,000
$500,000
$250,000
$0 - ANS $0, because T is still alive and the sole beneficiary
What is issued to each employee of an employer health plan?
Provision
Receipt
Policy
Certificate - ANS certificate (of insurance)
A Business Overhead Expense policy would cover which of the following if a business owner becomes
disabled?
-Contributions to employee retirement plans
-Utilities and office rent
-Owner's salary
-Meals and entertainment - ANS utilities and office rent
T is covered by two health insurance plans: a group plan through his employer and his spouse's plan as a
dependent. Under the Model Group Coordination of Benefits provision, when T files a claim, his
employer's plan is considered the
Principal carrier
Surplus carrier
Primary carrier
Secondary carrier - ANS primary carrier
, G is an accountant who has ten employees and is concerned about how the business would survive
financially if G became disabled. The type of policy which BEST addresses this concern is
-Business Overhead Expense
-Disability Income
-Key Employee Life
-Contributory - ANS business overhead expenese
What kind of Accidental Death and Dismemberment (AD&D) insurance beneficiary requires his/her
consent when a change of beneficiary is made?
Irrevocable beneficiary
Tertiary beneficiary
Primary beneficiary
Revocable beneficiary - ANS irrevocable beneficiary
P is a new employee and will be obtaining non-contributory group Major Medical insurance from her
employer. Which of the following actions must she take during the open enrollment period?
-Authorize for payroll deductions
-Agree to a physical examination
-Sign an enrollment card
-Register with her state of residency - ANS sign an enrollment card
S is employed by a large corporation that provides group health coverage for its employees and their
dependents. If S dies, the company must allow his surviving spouse and dependents to continue their
group health coverage for a maximum of how many months under COBRA regulations?
36
18
15
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