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Study Questions for Vermont with correct answers. 287 Q&A, 2024. CA$19.43   Add to cart
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Study Questions for Vermont with correct answers. 287 Q&A, 2024.
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Study Questions for Vermont with correct answers. 287 Q&A, 2024. When a producer submits an application that discloses personal information regarding the applicant, who supplies the privacy notice? Producer In a disability buy-sell agreement, the policies funding the agreement are owned by the...

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  • March 21, 2024
  • 24
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

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  • study questions for vermont with correct answers

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  • Vermont
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Study Questions for Vermont with correct
answers. 287 Q&A, 2024.
When a producer submits an application that discloses personal information regarding the applicant,
who supplies the privacy notice?

Producer

In a disability buy-sell agreement, the policies funding the agreement are owned by the

business entity

The guarantee of insurability option provides a long-term care policy owner the ability to

buy additional coverage at a later date

The Commissioner may suspend a producer's license when the producer

Rebates a portion of the commission to the insured

ABC Corporation purchases and is beneficiary of an individual disability income insurance policy on a
key employee. Which of the following statements is true?

Benefits are received tax-free by the company

Which of these is NOT considered to be a cost connected with an individual's death?

Business expenses

Which of the following is NOT a reason for a business to buy key person life insurance?

An increased pension liability if the key employee dies

Mary is an employee who is covered with a disability income policy through her employer. She pays
for the portion of the premium attributable to the cost of residual disability benefits, while her
employer pays for the remainder. What are the tax implications of this policy?

Residual benefits will be received income tax-free

Which of these procedures is NOT designed for ambulatory care centers

Inpatient surgery

In accident and health insurance, 60 days must pass after written proof of loss has been received by an
insurer before the insured may...

Bring legal action against the insurer

Which of the following is considered a Limited accident and health plan?

Cancer plan

,What is considered a valid reason for small corporations to insure the lives of its major stockholders?

Fund a buy-sell agreement

A producer working for an insurance company may be personally liable for

acts performed which are prohibited in the agency contract

When would evidence of insurability be required for a person already covered with a variable
universal life policy?

When the death benefit is increased

All of the following is information that is reasonably appropriate to determine the suitability of an
annuity recommendation EXCEPT

Level of education

According to the Affordable Care Act, new Health Insurance Marketplaces are established by the

CCIIO

An individual accident and health insurance policy with premiums paid monthly has a minimum grace
period of

10 days

What is the MAXIMUM number of employees an employer may have for qualified medical savings
accounts?

50 employees

Which statement is INCORRECT about the interest-only settlement option in a life insurance policy?

Interest on proceeds must be paid by the beneficiary

Which of the following is considered to be a prosthodontic dental procedure

Bridgework

A temporary license may be issued to producer

a personal representative of a deceased or physically ill producer to allow time for the representative to
qualify for a permanent license

Which statement about group life insurance is INCORRECT

Each participant requires evidence of insurability

A producer must secure an appointment with an insurer

Before soliciting insurance applications for that insurer

A life policy that has premiums that are lower than normal during the early years is called

, Modified Life

An individual, age 45, would like to help pay for his daughter's college expenses in 10 years. Which
annuity would be appropriate for this individual?

Deferred annuity

A producer who attempts to intimidate is engaging in

coercion

A hold-harmless clause is an example of risk

Transfer

A certificate of coverage for a group health policy is best described as

proof of coverage for the employee

A retired couple would like to maximize the income derived from their combined life savings and have
it payable until they both die. Which annuity would be their best choice?

Joint life annuity

Major Medical policies are typically characterized by which of the following

Flat deductible

The benefit period of Medicare Part A begins on the first day the insured

enters a hospital

Which of the these is NOT a true statement of the war exclusion

Civil insurrections apply

Which of the following can be used to avoid the mandatory withholding tax on qualified plan
distributions?

Conduit IRA

How is an insured's accident and health claim handled by an insurer if it occurs during the policy's
grace period?

The unpaid premium may be subtracted from the reimbursement

Which of the following would permit an insurer to delay a covered disability policy claim?

Elimination period

Which of these policies is considered a whole life policy?

Single premium life

Under the Law of Agency, the principal is considered to be

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