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PSI LIFE HEALTH QUESTIONS OHIO EXAM QUESTIONS WITH CORRECT ANSWERS
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PSI LIFE HEALTH QUESTIONS OHIO EXAM QUESTIONS WITH CORRECT ANSWERS
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PSI LIFE HEALTH QUESTIONS OHIOEXAM QUESTIONS WITH CORRECT
ANSWERS
which of the following is true of an equity-indexed annuity - Answer-it has a guaranteed
minimum interest rate
what is the primary purpose of Health reimbursement accounts (HRAs) - Answer-to
assist covered employees with payment of medical expenses on a high deductible plan
funded through pre-tax contributions
A basic vision care package includes all of the following EXCEPT? - Answer-safety
glasses
Which of the following is true of a point of service plan? - Answer-A patient's care is
coordinated by an in-network primary care physician.
what is the most common method to supplement Medicare coverage? - Answer-
Coverage offered by private insurers
all the following are characteristics of variable whole life except - Answer-There is no
guaranteed minimum death benefit.
what coverage type pays a monthly cash benefit following the elimination period for total
disability die to accident or sickness - Answer-disability income insurance
all of the following are characteristics of Cobra except - Answer-Change in medical
privacy procedures.
which of the following is covered by a dread disease policy - Answer-illnesses that do
not occur frequently but incur significant costs when they do occur
Compared to basic Hospital medical, and surgical policies which type of insurance
provides broader coverage, gaps higher, individual benefits, and higher policy
maximums - Answer-major medical insurance
A group conversion option may NOT be used in the when - Answer-there's a life-
changing event such as marriage divorce or childbirth
Current assumption Whole Life policies are sensitive to which of the following - Answer-
interest rates
when should a buy-sell agreement include a provision for a buyout of an owner's
business interest in an event of a disability? - Answer-When there is a buy-sell
, agreement funded with a life insurance to buy out the interest of a deceased owner or
partner
States generally define a true "group" for insurance as requiring a minimum of how
many participants - Answer-10
which of the following is true about a decreasing term life policy - Answer-the face
amount reaches zero at policy expiration
which is true for a flexible premium annuity - Answer-the purchaser has the option to
vary the amount of each premium payment following between minimum and maximum
amount
3 common types of permanent individual life insurance - Answer-variable whole life,
whole life, and universal life
which policy types is considered double indemnity - Answer-accidental death
which of the following is a characteristic of preferred provider organizations (ppos) -
Answer-prearranged costs for services rendered
limited pay whole life policy coverage.. - Answer-continues after policy is paid up
how does the per capita rule apply to proceeds from a life insurance policy - Answer-
The proceeds are divided equally among living primary beneficiaries.
How are term riders used - Answer-to purchase insurance on a family member of the
originally insured
In order for an insurer to increase the premium on a non-cancellable policy which of the
following MUST be true - Answer-the premium increase must be in the contract at the
time it is issued
at which point are the contractual death benefit settlement options determined and by
whom? - Answer-at the time of policy is purchased by the owner of the policy
what is the maximum amount of time the insured has to file legal action against the
insurer adapter room proof of loss is provided - Answer-3 years
which of the following is an example of premium payment mode - Answer-annual
premium payment
what does first dollar coverage mean - Answer-as soon as covered medical expenses
are incurred the policy begins to pay
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