LIFE, HEALTH AND ACCIDENT INSURANCE EXAMS. PACKAGE COVERING 1ST TO THE FINAL EXAMS. QUESTIONS WITH 100% VERIFIED ANSWERS.

20. A group Disability Income plan that pays tax-free benefits to covered employees is considered A. Non-contributory B. Partially contributory C. Group contributory D. Fully contributory 21. Which of the following would evidence ownership in a participating health insurance contract? A. Sto...

45. Many small business owners worry how their business would survive financially if the owner becomes disabled. The policy which BEST addresses this concern is 46. How does group insurance differ from individual insurance? 47. The Coordination of Benefits provision 48. What kind of Acciden...

85. A contract that heavily restricts one party while leaving the other free (as some standard form printed contracts), and implies inequality in bargaining power is: 1. A contract of adhesion 2. A conditional contract 3. An aleatory contract 4. A unilateral contract 86. There are number of c...

50. 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? 51. What is the n...

81. All of the following would be different between qualified and nonqualified retirement plans EXCEPT... A. Taxation of contributors B. IRS approval requirements C. Taxation on accumulation D. Taxation of withdrawals 82. In an traditional IRA plan, who would be allowed catch-up contributions...

60. On a major medical insurance policy, the amount that an insured must pay on a claim before the insurer will pay is known as: Deductible 61. Insurers offering Medigap policies in California must offer Medicare supplement: Plans 'A' and either Plan 'C' or 'F' 62. Part A of original M...

50. If an employee contributes 50% toward the disability plan premium provided by an employer, what would be considered the taxable income of a $1,000 monthly disability benefit? A) $100 B) $250 C) $500 D) $1,000 51. Minimum participation standards exist for group health insurance plans in or...

21. ABC Partnership is a business with a limited number of partners. Which disability buy-sell agreement is best suited for this business? 22. Individuals covered with employer-paid group health plans will normally receive tax-free benefits under all of these plans EXCEPT 23. What action can a...

25. P is a new employee and will be obtaining non-contributory group Major Medical insurance from her employer. Which of the following actions must she take during the open enrollment period? 26. The federal income tax treatment of employer-provided group Medical Expense insurance can be accurate...

31. A group Disability Income plan that pays tax-free benefits to covered employees is considered 32. HIPAA considers which of the following as "individually identifiable health information"? 33. An employer is issued a group medical insurance policy. This single contract is known as a(n) ...