North Dakota Life and Health Questions And Answers

A Medicare supplement policy cannot deny claims for losses occurring more than how many months after the effective date of coverage because of preexisting condition? - 6 months A person who purchases an individual life insurance policy can return the policy within how many days to get a full refund of the premiums? - 20 days All of the following acts by an insurance producer would violate North Dakota's insurance laws EXCEPT - telling a prospect that a policy has received a certain level of dividends for the past 5 years All of the following statements about the North Dakota Life and Health Insurance Guaranty Association are correct EXCEPT - only life insurers must be members All of the following statements regarding health insurance advertisements are correct EXCEPT - they are obliged only to state the most important policy limitations An individual life insurance policy can exclude or restrict coverage if death occurs under any of the following circumstances EXCEPT - suicide more than one year from the policy's issue date An individual life insurance policy will become incontestable no later than how long after its effective date? - 2 years An insurer may deny coverage under a group health insurance policy to which one of the following dependents? - Child who is a full-time student and 25 years old Bill is insured under an individual life insurance policy. His next premium is due April 1, but he forgets to pay it and then dies on April 15. Which one of the following statements is CORRECT? - Bill's heirs will receive the insurance proceeds How many hours of continuing education must all resident insurance producers complete every two years? - 24 hoursIf more than 35% of a producer's premiums in one year come from insurance written on the producer's family, the producer is primarily participating in - controlled business Life insurance advertisements must comply with all of the following requirements EXCEPT - they must state that the payment of dividends is guaranteed Long-term care insurance policies can - establish a new waiting period if the insured decides to increase benefits Long-term care insurance policies CANNOT contain renewal provisions that grant less than which of the following? - Guaranteed renewability Medicare supplement policies must do all of the following EXCEPT - indemnify against losses resulting from sickness on a different basis than losses resulting from accidents The commissioner may issue a temporary producer license for up to how many days? - 180 The commissioner must examine all domestic insurance companies at least - every 5 years What association protects owners of life insurance policies issued by insurers that become impaired? - North Dakota Life and Health Insurance Guaranty Association What happens to the surrender value of a life insurance policy upon the death of the insured? - It is exempt from the insured's creditors What is meant by the term "authorized" insurer? - A company that is authorized by the commissioner to transact insurance business in North Dakota Which of the following benefits must be included in all Medicare supplement policies? - Coverage for the reasonable cost of the first 3 pints of bloodWhich of the following groups must comply with the continuing education requirements of North Dakota? - Surplus lines insurance brokers Which of the following is covered by the North Dakota Life and Health Insurance Guaranty Association? - Life insurance policies held by North Dakota residents Which of the following is NOT a duty of the Commissioner of Insurance? - Writing the North Dakota insurance laws Which of the following provides low-cost access to health insurance coverage for North Dakota residents who have a difficulty obtaining coverage? - Comprehensive Health Association of North Dakota Which of the following statements about a long-term care insurance policy is CORRECT? - It contains renewal provisions that are at least as favorable as guaranteed renewable Which one of the following insurers is required to obtain a certificate of authority? - An insurer selling annuities only Which one of the following must be appointed by at least one insurer to transact insurance business in North Dakota? - Producers Which one of the following statements about insurance consultants is NOT correct? - They can receive compensation from licensed agents for work performed as a consultant Which one of the following statements about the coverage of mental disorders and substance abuse under group health insurance policies is CORRECT? - Policies must offer benefits for treating alcoholism and drug addiction on the same basis as any other illness