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Exam (elaborations)

Final exam- Vermont life and health Questions and Answers

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  • Course
  • Vermont life and health
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  • Vermont Life And Health

Which of the following is NOT a basic underwriting action for accident and health insurance? o :## Removing uniform policy provisions Long-term care policies will usually pay for eligible benefits to using which of the following methods o :## Expense incurred T is covered by an accidental death...

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  • September 2, 2024
  • 20
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Vermont life and health
  • Vermont life and health
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Final exam- Vermont life and health
Questions and Answers
Which of the following is NOT a basic underwriting action for accident and health insurance?

o :## Removing uniform policy provisions


Long-term care policies will usually pay for eligible benefits to using which of the following methods

o :## Expense incurred



T is covered by an accidental death and dismemberment (AD&D) policy that contains an irrevocable
beneficiary. What action will the insurance company take if T requests a change of beneficiary?

o :## Request of the change will be refused


Which of these do NOT indicate the presence of insurance interest in a life insurance contract

o :## Lifelong friendship



When an individual is planning to protect his family with life insurance one method of doing so is called
needs analysis what exactly does needs analysis involve?

o :## Establishes the needs of the individual and his dependents


Which of these is not a factor that influences group health insurance underwriting?

o :## Physical exams of group members


Which one of these is not considered to be an element of an insurable risk

o :## Speculative risk



Newborn children are automatically covered under an existing family medical plan at the moment of
birth for a period of at least (# days)

o :## 31

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Under what circumstances does an accident and health insurance have the right to request an autopsy

o :## We're not prohibited by state law



Which of these annuity contract features is meant to discourage withdrawals and exchanges?

o :## Surrender charges



Under a deferred annuity, which contract feature initially charges a 5-10% fee that eventually reduces to
$0 after a stated amount of time?

o :## surrender charge


Which of the following is an example of defamation?

o :## Making a statement that is false or maliciously critical of the financial condition

of an insurer



Which report contains information regarding an individual's general reputation and credit standing?

o :## Consumer report



How are the premiums for an individually-owned disability income policy treated for tax purposes?

o :## Not tax-deductible at all


Which of these is NOT an underwriting responsibility of a life insurance agent?

o :## Determining the final rate classification


Disability income policies provide protection for which of the following

o :## Economic death


Mike recently lost sight in both eyes. He has a policy that pays a lump sum benefit for this injury. What
type of insurance does Mike have?

o :## Accidental Death and Dismemberment

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The reason for backdating a policy is

o :## to obtain a premium rate based on an earlier age



According to ERISA regulations, a Summary Plan Description must be provided to a new plan member
within ___ days of the member's eligibility date.

o :## 90


A licensee who is required to take continuing education must complete 24 hours of continuing
education, which includes ___ hour(s) of ethics courseworks?

o :## 3


Group life insurance is typically issued as

o :## level term insurance


What is it in insurance contract that identifies individuals by relationship to a specific organization

o :## Group insurance


Insurance producer Kelly offers a $500 shopping card if a client purchases an insurance product through
her. What is this an example of?

o :## Rebating, which is an unfair trade practice


In a disability buy-sell agreement, the policies funding the agreement are owned by the

o :## Business entity


A group health certificate for coverage issued in Vermont MUST contain

o :## Summary of policy features and benefits


What does a 401(k) plan generally provide its participants?

o :## Salary-deferral option

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