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ACCIDENT & HEALTH PT 1 QUESTIONS WITH COMPLETE ANSWERS
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ACCIDENT & HEALTH PT 1 QUESTIONS WITH COMPLETE ANSWERS
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ACCIDENT & HEALTH PT 1 QUESTIONSWITH COMPLETE ANSWERS
when the principle gives the agent authority in writing, it's referred to as - ANS-express
authority
The Federal Employees Benefit Program consists of two types of health plans for
federal civilian employees. The two plans are fee-for-service and - ANS-prepaid
States that have "no loss no gain" laws require a replacing policy to - ANS-pay for
ongoing claims under the policy replaces
low-frequency diseases can be exclusively covered by what kind of health insurance
policies? - ANS-limited policies
how often must an insurance producer's license in nj be renewed? - ANS-every two
years
once an accident and health insurance policy has been in force for __ year(s), the policy
may NOT be contested by the insurer - ANS-2
Which of the following statements is TRUE about Medicaid? - ANS-It is funded by
federal, state, and local taxes
David submits a $500 claim for medical expenses. There is a past-due amount owed for
insurance premiums of $200. As a result, the insurer only pays $300 for the claim. This
deduction came as a result of which provision? - ANS-unpaid provision
The purpose of the Coordination of Benefits provision in group accident and health
plans is to? - ANS-avoid overpayment of claims
Richard owns an insurance policy that is renewable only at the option of the insurance
company. His policy is considered to be - ANS-optionally renewable
Which of the following decisions would a Health Savings Account (HSA) owner NOT be
able to make? - ANS-The amount contributed by the employer
, All of the following factors would affect a health insurance policy's premium rate
EXCEPT? - ANS-Residential address of the insured
w/in how many days must a producer notify the dobi of a change in address? - ANS-30
days
a Medicare supplement policy is - ANS-designed to fill in the gaps of Part A and Part B
Medicare
what are an applicant's statements concerning occupation, hobbies, and personal
health history regarded as? - ANS-representation
the policyholder for a group health benefit plan is considered to be the - ANS-employer
__ is NOT an element of a valid contract - ANS-countersignature
what is considered to be the primary reason for buying life insurance? - ANS-provide
death benefits
who is responsible for assembling the policy forms for insureds? - ANS-insurance
carriers
the factor used most often when underwriting a disability income policy is - ANS-annual
earnings
premium mode is a term used to describe the - ANS-frequency of the premium payment
a medicare supplement policy can be canceled by the insurer of - ANS-nonpayment
medicare part a covers - ANS-inpatient hospital stay
according to HIPAA, when an insured individual leaves an employer and immediately
begins working for a new company that offers group health insurance, the individual -
ANS-is eligible for coverage upon hire
what is the contract called that is issued to an employer for a group medical insurance
plan? - ANS-master policy
which of these may not be used in a health insurance advertisement? - ANS-an
insurance company's trademark instead of the company's actual name
which of the following is the purpose of medical cost management? - ANS-to control
health claims expense
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