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South Carolina Life/Health Final Exam 2 Exam Prep Questions And Answers ()
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South Carolina Life and Health Exam Prep Questions And Answers(202472025)
What happens when an insurance policy is backdated? - ✔✔the policy's date is earlier than the
present.
HIPPA considers which of the following as "individually identifiable health information"? - ✔✔a
person's health claim information
In South Carolina, the grace period for a life insurance policy is _____ days. - ✔✔31
Which of the following annuity payout makes no additional payments regardless of when the
annuitant dies? - ✔✔Life only
The Fair Credit and Reporting Act's main purpose is to - ✔✔protect consumers with guidelines
regarding credit reporting and distribution
According to HIPPA, when an insured individual leaves an employer and immediately begins
working for a new company that offers group health insurance, the individual - ✔✔is eligible for
coverage upon hire
All of the following plans allow for employee contributions to be taken on a pre-tax basis EXCEPT
- ✔✔Health Reimbursement Arrangement Plan
Which of these factors helps determine an insured's life insurance premium? - ✔✔avocation
(hobby)
Which of these premium payment frequencies is not typically available to a policyowner? - ✔✔Bi-
Weekly
What happens to the total amount of premium paid for an insurance policy when the payment
frequency increases? - ✔✔increases
,Which type of life insurance is normally associated with a Payor Benefit rider? - ✔✔juvenile
insurance
A proposed insured for a health insurance policy was treated for heart disease within the past year.
When applying for health insurance, the heart disease treatment - ✔✔indicates a preexisting
condition
What is issued to each employee of an employer health plan? - ✔✔certificate
Which of these is affected by the frequency of an insurance policy'a premium payments? - ✔✔Cost
A life insurance policy that has premiums fully paid up within a stated time person is called -
✔✔limited payment insurance
All of these are valid options for an Adjustable Life Policy EXCEPT - ✔✔a nonforfieture option
can be used to increase the death benefit
Major Medical expense plans provide coverage for each of the following EXCEPT - ✔✔Work-
related injuries
A policyowner may changed two policy features on what type of life insurance? - ✔✔Adjustable
Life
An insured individual and the policy's beneficiary die from the same accident. The common
disaster provision states the insurer will continues as if - ✔✔the insured outlived the beneficiary
The Federal Employees Benefit Program consists of two types of health plans for federal civilian
employees. The two plans are fee-for-service and - ✔✔prepaid
, Written notice for a health claim must be given to the insurer ___ days after the occurrence of the
loss. - ✔✔20
Health insurance involves two perils, accident and _____. - ✔✔sickness
When comparing an HMO to a PPO, the PPO - ✔✔provides a greater choice of providers
The open enrollment period for Medicare Supplements begins at age - ✔✔65
Insurance represents the process of risk - ✔✔transference
Which of the following decisions would a Health Savings Account (HSA) owner NOT be able to
make? - ✔✔the amount contributed by the employer
The time limit for filing claim disputes in addressed in which provision of an accident and health
policy? - ✔✔Legal actions
All long-term care policies sold in South Carolina are REQUIRED to pay the SAME daily benefit
amount for "at home" care as compared to - ✔✔the daily amount paid for nursing home care
Which of these statements about Medicaid is CORRECT? - ✔✔funded by federal, state, and local
taxes
A Modified Endowment Contract (MEC) is best described as - ✔✔A life insurance contract which
accumulates cash values higher than the IRS will allow
An eligible employee can be excluded from group health coverage for up to ____ months if he/she
is considered a "late enrollee". - ✔✔18
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