Accident and Health Insurance Final Exam Already Graded A

Accident and Health Insurance Final Exam Already Graded A Your license will be considered to be inactive when you: No longer have any appointments On a "participating" health insurance policy issued by a mutual insurance company, dividends paid to policy holders are: Not taxable since the IRS treats them as a refund of a portion of the premium paid All of the following are true regarding a non-contributory employer group medical expense insurance policy EXCEPT: Premiums must be paid entirely by the employees Which two of the following are considered to be activities of daily living in most long-term care policies: Eating and dressing The Employee Retirement Income Security Act (ERISA) requires that employee benefit plans be managed for the benefit of: Participants and beneficiaries Which of the following must be printed on every licensee's business cards, written price quotations and printed advertisements: Their insurance license number At age 65, an individual would be eligible for which of the following at no charge Part A of Medicare Under the California Insurance Code (CIC), neither party to a contract of insurance is bound to communicate any of the following EXCEPT: Information known to be material The enrollee pays what percentage of the premium for Medicare Part B? 100% When an insurer voids an insurance contract due to an intentionally fraudulent omission by the insured of a material fact, it is known as: Rescission When can a representation be altered or withdrawn? Before the insurance is effected, but not afterwards Under the Patient Protection and Affordable Care Act (PPACA), health plans cannot limit or deny benefits or deny coverage for a child younger than age ____ because the child has a pre-existing condition that developed before the child applied to join the plan: 19 Which of the following is not covered in a long-term care policy? Acute care in the hospital The uncertainty about loss that exists whenever more than one outcome is possible is called: Risk The hospice benefit under a long-term care policy will cover all of the following EXCEPT: Rehabilitation expenses On disability income insurance, another name for the "waiting" period is the _______ period: Elimination Which of the following parts of Medicare is known as the "managed care" option Part C - Medicare Advantage The Patient Protection and Affordable Care Act (PPACA) requires health plans to provide rebates to consumers for the amount of the premiums spent on clinical services and quality that is less than ____% for plans in the individual market place: 80 Medical expense insurance policies often contain a provision which states that during the first 12 months after the policy's effective date, there is no coverage for a pre-existing sickness that recurs. This provision is known as: A probationary period An applicant for health insurance completes an application, indicating that they have been treated for various medical conditions in the past. If the underwriter needs more information regarding these past treatments, they will most likely order a(n): Attending physicians statement Which of the following is true regarding the taxation of individual disability income policies? The premiums are not deductible and the benefits are tax free. HMOs try to contain costs by stressing: Preventive care Although a "fully insured" worker is entitled to retirement benefits under social security as early as age 62, they must be at least age ____ to automatically become eligible for Medicare: 65 An example of a fiduciary duty is: The trust that your client places in you in regard to handling premiums All of the following are parts of Medicare EXCEPT; Part D - Medi-Cal To attain "fully insured" status under social security, an individual must have worked and contributed to social security for at least ____ calendar quarters 40 Regarding surviving spouse benefits under social security, the time interval between the date survivor benefits end and the date benefits resume is known as the _________ period: Blackout A worker must have "fully insured" status under social security to qualify for all of the following benefits EXCEPT: Survivors In order to be considered to be "totally disabled' under social security's definition, an individual must