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accident & health pt 1 Questions and Complete Solutions Graded A+
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accident & health pt 1 Questions and Complete Solutions Graded A+
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accident & health pt 1 Questions andComplete Solutions Graded A+
when the principle gives the agent authority in writing, it's referred to as - Answer: 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 - Answer: prepaid
States that have "no loss no gain" laws require a replacing policy to - Answer: pay for ongoing claims
under the policy replaces
low-frequency diseases can be exclusively covered by what kind of health insurance policies? - Answer:
limited policies
how often must an insurance producer's license in nj be renewed? - Answer: 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 - Answer: 2
Which of the following statements is TRUE about Medicaid? - Answer: 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? - Answer: unpaid provision
The purpose of the Coordination of Benefits provision in group accident and health plans is to? - Answer:
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 - Answer: optionally renewable
, Which of the following decisions would a Health Savings Account (HSA) owner NOT be able to make? -
Answer: The amount contributed by the employer
All of the following factors would affect a health insurance policy's premium rate EXCEPT? - Answer:
Residential address of the insured
w/in how many days must a producer notify the dobi of a change in address? - Answer: 30 days
a Medicare supplement policy is - Answer: 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? - Answer: representation
the policyholder for a group health benefit plan is considered to be the - Answer: employer
__ is NOT an element of a valid contract - Answer: countersignature
what is considered to be the primary reason for buying life insurance? - Answer: provide death benefits
who is responsible for assembling the policy forms for insureds? - Answer: insurance carriers
the factor used most often when underwriting a disability income policy is - Answer: annual earnings
premium mode is a term used to describe the - Answer: frequency of the premium payment
a medicare supplement policy can be canceled by the insurer of - Answer: nonpayment
medicare part a covers - Answer: inpatient hospital stay
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