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life, accident and health insurance state exam- OH/186 Questions with Answers
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life, accident and health insurancestate exam- OH/186 Questions with
Answers
A person who is a nonsmoker, of average weight and in excellent health
would most likely be in which risk classification? - -preferred
-Preferred risk policies with reduced premiums are issued by insurance
companies bc the insured has - -better than average mortality
-The waiver of premium does NOT include which provision? - -Al future
premiums are waived if the insured recovers from the disability
-An advertisement for an insurance product may contain - -the insurer's
name
-A medicare supplement plan can be canceled by the insurer - -for
nonpayment of premiums
-The principle of insurable interest, in regards to a life insurance contract, is
accurately described in which statement? - -Insurable interest can be based
on the love and affection of individuals related by blood or law
-Craig submits a %500 claim for medical expenses. With a past due
premium of $100, the insurer pays $400. which of the uniform optional
provisions covers this situation? - -unpaid premium
-An example of a health insuring corporation (HIC) specialty care provider is
- -neurologist
-an insurance company needs to obtain personal info from a 3rd part
concerning an applicant. which law do all insurers and their producers need
to comply with? - -fair credit reporting act
-time is covered under a group plan and would like to changed his coverage
to an individual policy w the same insurer bc of employment termination.
which of these describes the change that will take place? - -conversion
-an agents appt has been terminated by insurer. the insurer must then
notify the superintendent within how many days of the termination? - -30
-the suicide clause of a life insurance policy states that if an insured
commits suicide w in a stated period from the policy inception, the insurer
, will only be liable for a return of prisms paid - -minus indebtedness and
without interest
-which of the following is considered to be an alternative to a life
settlement? - -accelerated death benefit rider
-if the annuitant dies before the annuity start date, - -the premiums paid
plus interest earned will be given to the beneficiary
-a life insurance policy that has premiums fully paid up within a stated time
period is called - -limited payment insurance
-shopping for annuity that guarantees he cannot outlive the benefits. which
of these benefit options would he choose - -guaranteed lifetime withdrawal
benefit
-what is medicare part b known as - -supplementary medical insurance
-field underwriting performed by the producer involves - -completing the
application and collecting initial premium
-a life insurance policy which contains cash values that vary according to its
investment performance of stocks is called - -variable whole life
-a life insurance policy owner was injured in an automobile accident which
results in total and permanent disability. which rider would pay a monthly
amount bc of this disability? - -disability income rider
-pierre is covered by his employers group major medical plan. his employer
pays for 75% of the premium and he pays for 25%. how much would a 10000
benefit be taxable as income under this plan - -0
-what is not an element of a valid contract - -countersignature
-a health insurance policy will typically cover - -preventative health services
-which settlement option involves having the proceeds remain with the
insurer and earnings paid on a monthly basis to the beneficiary? - -interest
only
-all of the following are qualifications for establishing a health savings act
(HSA) except - -enrolled in a health plan with a prescription drug benefit
-legal purpose is a term used in contract law meaning - -there must be legal
reasons for entering into the contract
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