PSI -Accident and Health Exam Bundle Graded A+

Which of the following would be true of both the fixed period and fixed amount settlement options - Answer- Both guarantee that the principal and interest will be fully paid out Who does the spendthrift clause in a life insurance policy protect? - Answer- beneficiary Under what circumstances w...

What is a primary difference between individual and group health insurance? - Answer-Individual Insurance requires evidence of insurability. Which of the following coverage types pays a monthly cash benefit following the elimination for total disability due to accident or sickness? - Answer-Disab...

All of the following are authorized activities for the limited lines automobile insurance agents EXCEPT if the agent-Answer-Charges and collects a brokers fee for service Which of the following descries a contract of reinsurance?-Answer-A first insurer issues insurance to compensate another insur...

which oft he following is a characteristic of preferred provider org (PPO) A: prearranged costs for services rendered B: providers receive a flat montlyh amount for each user C: ability to receive care at the same cost from any provider D: emergency treatment is restricted to pre-select hospital...

Who is eligible to be an insurer? - Answer- The direct writing distribution model utilizes: Any person, company, organization, or corporation that is capable of making a contract. Which is an INACCURATE statement on the purpose and intent of the Insurance Information and Privacy Protection Act...

Which of the following occurs immediately after the application is submitted and the initial premium paid? 1. the underwriting process begins 2. the applicant's references are checked 3. the beneficiaries are selected 4. the insurance goes into effect. - Answer- 1. the underwriting process be...

all of the following are ownership rights EXCEPT: A: changing the beneficiary of the policy B: borrowing funds against cash value C: switching the policy from on insured to another D: assigning all of the rights of the policy to another person - Answer- C: switching the policy from on insured to...

If the insurer wishes to share an applicant's HIV status, the applicant must be given full notice of all of the following EXCEPT A-The applicant's rights to maintain privacy B-An opportunity to refuse the dissemination of the information C-Insurer's practices with respect to the treatment of...

Which is an ACCURATE statement regarding benefits of Medicare supplement and Medicare select plans? 1 The insurer is able to cancel, or deny renewal of an existing policy, based solely on the health of the insured. 2 There is no restriction for benefits after the coverage has been in effect fo...

Under the misstatement of age or gender provision, what happens if it is determined at death that the insured's age or gender was misstated on a life insurance policy application? - Answer- Benefits are adjusted to an amount that the premium would have purchased at the correct age or gender. Whi...

Which of the following is TRUE of an equity-indexed annuity? - Answer- It has a guaranteed minimum interest rate Compared to basic hospital, medical and surgical policies, which type of insurance provides broader coverage, fewer gaps, higher individual benefits, and higher policy maximums? - Answ...

How long after being entitled to disability benefits will an individual be eligible to receive Medicare benefits? A. immediately B. 1 year C. 2 years D. At age 65 - Answer- 2 years What is the return of premium rider? A. an increasing amount of term insurance that always equals the total o...

Which policy type is backed by equity investments and allows the policyholder to adjust the death benefit? - Answer- variable universal life Which annuity settlement option provides a stated monthly amount to the annuitant and upon the annuitant?s death the same or a lesser amount paid for the li...

What kind of retirement plan can a 75-employee for profit corporation establish? - Answer- Simple IRA The taxable portion of a monthly income benefit paid during the annuity phase from a nonqualified annuity is calculated using the - Answer- Exclusion ratio Unfair claims settlement methods and...