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South Carolina Life and Health Final Exam 2024 Questions and Answers 2024 / 2025 (Verified Answers by Expert) $14.49
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South Carolina Life and Health Final Exam 2024 Questions and Answers 2024 / 2025 (Verified Answers by Expert)
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South Carolina Life and Health Final Exam 2024 Questions and Answers 2024 / 2025 (Verified Answers by Expert)

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  • August 9, 2024
  • 27
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • South Carolina Insurance
  • South Carolina Insurance

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Final Exam - South Carolina Life and Health.pdf file:///C:/Users/HP/Desktop/TYPA%20NEW/Final%20Exam%20-%2




Final Exam - South Carolina Life and Health


1. A closed network plan offers a primary physician copay of $25. If a sub- scriber

chooses a primary care physician outside of the network, the sub- scriber will likely

pay

ANS 100% of the billed amount

2. What does Coordination of Benefits allow?

ANS Allows the secondary payor toreduce their benefit payments so no more than 100% of

the claim is paid

3. A waiver of premium rider allows an insured to waive premium payments ifthe insured

is

ANS completely and permanently disabled

4. Under the Time Limit of Certain Defenses Provision, a disability policy is

incontestable after it has been in force for a period of

ANS 2 years

5. In what part of an insurance policy are policy benefits found?

ANS Declarations
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6. What type of annuity stops all payments upon the death of the annuitant?-



ANS Life annuity

7. A guaranteed issue insurance policy has no

ANS medical underwriting

8. What is NOT a qualifying event for Medicare?

ANS Falling below the federal povertylevel

9. An insured has a health plan that pays established amounts in accordancewith a list of

injuries, surgical procedures, or other losses. This list is called a

ANS benefit schedule

10. Craig purchased a life insurance policy for enabling his heirs to pay estatetaxes.What

is this called?

ANS Estate conservation

11. Ownership of a life insurance policy may be temporarily transferred witha(n)

ANS collateral assignment

12. Respite care is able to provide

ANS temporary relief to the patient's primarycaregiver

13. What are employers is required to follow ERISA regulations?
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ANS A local elec-trical supply company with 12 employees

14. A policy illustration given at time of sale does NOT typically includethe

ANS names of the beneficiary

15. How are contributions made to a Roth IRA handled for tax purposes?

ANS Nottax deductible

16. With respect to small group health benefit plans, a carrier may discontinuecoverage or

may refuse to renew such a plan if the employer

ANS fails to pay the premium prior to the end of the grace period

17. What is an insurance policy's grace period?

ANS period of time after premium isdue but the policy remains in force

18. What isn't considered to be nonforfeiture options available to policyown-er

ANS Reduction of Premium

19. An insured MUST submit a proof of loss on a health insurance claim withinhow many

days after the date of loss?

ANS 90




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