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My Life and Health Insurance Study Guide- ExamFX questions with accurate answers. 100- Verified.
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My Life and Health Insurance Study Guide- ExamFX questions with accurate answers. 100- Verified.My Life and Health Insurance Study Guide- ExamFX questions with accurate answers. 100- Verified.My Life and Health Insurance Study Guide- ExamFX questions with accurate answers. 100- Verified.My Life and...

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  • September 9, 2024
  • 28
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • my life and health insurance study guide examfx q

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  • Health Insurance
  • Health Insurance

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LucieLucky

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My Life and Health Insurance Study
Guide- ExamFX questions with accurate
answers. 100% Verified.


An Yinsured Ypays Ya Y$100 Ypremium Yevery Ymonth Yfor Yhis Yinsurance Ycoverage, Yyet Ythe Yinsurer
Ypromises Yto Ypay Y$10,000 Yfor Ya Ycovered Yloss. YWhat Ycharacteristic Yof Yan Yinsurance Ycontract Ydoes
Ythis Ydescribe? Y- YCorrect Y YAnswer Y- YAleatory: Yan Yaleatory Ycontract Ymeans Yunequal Yamounts Yare
Yexchanged Ybetween Ypayments Yand Ybenefits


What Yis Ythe YFederal YCredit YReporting YAct? Y- YCorrect Y YAnswer Y- YEstablishes Yprocedures Ythat
Yconsumer-reporting Yagencies Ymust Yfollow Yin Yorder Yto Yensure Ythat Yrecords Yare Yconfidential,
Yaccurate, Yrelevant, Yand Yproperly Yused.




Also Yprotects Yconsumers Yagainst Ythe Ycirculation Yof Yinaccurate Yor Yobsolete Ypersonal Yor Yfinancial
Yinformation


What Yare Yconsumer Yreports? Y- YCorrect Y YAnswer Y- YWritten Yand/or Yoral Yinformation Yregarding Ya
Yconsumer's Ycredit, Ycharacter, Yreputation, Yor Yhabits Ycollected Yby Ya Yreporting Yagency Yfrom
Yemployment Yrecords, Ycredit Yreports Yand Yother Ypublic Ysources


What Yis Yan Yinvestigative Yconsumer Yreport? Y- YCorrect Y YAnswer Y- YAlso Yprovide Yinformation Yon
Ythe Yconsumer's Ycharacter, Yreputation, Yand Yhabits, Ybut Yobtained Ythrough Yan Yinvestigation Yand
Yinterviews.




A Yreporting Yagency Yconducts Yan Yinvestigation Yand Yinterviews Yassociated, Yfriends Yand Yneighbors
Yof Ythe Yconsumer. YThese Yreports Ycan't Ybe Ymade Yunless Ythe Yconsumer Yis Yadvised Ywithin Y3 Ydays
Yof Ythe Yreport Yrequest


What Yhappens Yif Ysomeone Yknowingly Yand Ywillfully Yobtains Yinformation Yon Ya Yconsumer Yfrom Ya
Yconsumer Yreporting Yagency Yunder Yfalse Ypretenses? Y- YCorrect Y YAnswer Y- YThey Yare Ynot

,Ycomplying Ywith Ythe YFair YCredit YReporting YAct Yand Ymay Ybe Yfined Yand/or Yimprisoned Yfor Yup Yto
Y2 Yyears


What Yhappens Yif Ysomeone Yunknowingly Yviolates Ythe YFair YCredit YReporting YAct? Y- YCorrect Y
YAnswer Y- YThey Ybecome Yliable Yin Ythe Yamount Yequal Yto Ythe Yloss Yto Ythe Yconsumer Yas Ywell Yas
Yany Yreasonable Yattorney Yfees Yincurred Yin Ythe Yprocess


What Yhappens Ywhen Ysomeone Ywillfully Yviolates Ythe YAct Yenough Yto Yconstitute Ya Ygeneral Ypattern
Yor Ybusiness Ypractice? Y- YCorrect Y YAnswer Y- YThey Yare Ysubject Yto Ya Ypenalty Yof Yup Yto Y$2,500


What Yrights Ydoes Ya Yconsumer Yhave Yif Yan Yinsurance Ypolicy Yis Ydeclined Yor Ymodified Ybecause Yof
Yinformation Ycontained Yin Yeither Yconsumer Yreport? Y- YCorrect Y YAnswer Y- YMust Ybe Yadvised Yand
Yprovided Ywith Ythe Yname Yand Yaddress Yof Ythe Yreporting Yagency


Has Ythe Yright Yto Yknow Ywhat Ywas Yin Ythe Yreport

Has Ythe Yright Yto Yknow Ythe Yidentity Yof Yanyone Ywho Yreceived Ya Ycopy Yof Ythe Yreport Yduring Ythe
Ypast Yyear.


Has Ythe Yright Yto Ychallenge Yany Yinformation Yin Ythe Yreport Yand Ythe Yagency Yis Yrequired Yto
Yreinvestigate Yand Yamend Ythe Yreport.


If Ythe Yreport Yis Yfound Yto Ybe Ywrong, Yit Ymust Ybe Ycorrected Yand Ysent Yout Yto Yall Yparties Ythat
Yhave Yreceived Ya Yreport Yin Y2 Yyears.


What Yis YMIB? Y- YCorrect Y YAnswer Y- YThe YMedical YInformation YBureau Y(MIB) Y

A Ymembership Ycorportation Yowned Yby Ymember Yinsurance Ycompanies. YIt's Ya Ynonprofit Ytrade
Yorganization Ywhich Yreceives Ymedical Yinformation Yfrom Yinsurance Ycompanies Yand Ymaintains
Yconfidential Yinformation Yon Yindividuals.


It Yis Yonly Yused Yas Ya Yway Yto Ycompare Ythe Yinformation Yyou Yhave Ywith Yother Yinsurance
Ycompanies Yand Ysee Ywhere Yyou Yneed Yto Ylook Yinto Ymore. YA Ypolicy Ycannot Ybe Ydenied Ysolely
Ybecause Yof Ythese Yreports


What Yis YHIPAA? Y- YCorrect Y YAnswer Y- YThe YHealth YInsurance YPortability Yand YAccountability YAct

A Yfederal Ylaw Ythat Yprotects Yhealth Yinformation. YProvide Yprotection Yfor Ythe Yprivacy Yof Ycertain
Yindividually Yidentifiable Yhealth Yinformation


What Yare Ypreferred Yrisks? Y- YCorrect Y YAnswer Y- YA Yrisk Yclassification Yused Ywhen Ydetermining Yhow
Ymuch Yrisk Ya Yconsumer Yis Yand Yhow Ymuch Ytheir Ypremium Yshould Ybe


Preferred Yrisks Yare Yindividuals Ywho Ymeet Ycertain Yrequirements Yand Yqualify Yfor Ylower Ypremiums
Ythan Ythe Ystandard Yrisk. YThey Yhave Ysuperior Yphysical Ycondition, Ylifestyle, Yand Yhabits

, What Yare Ystandard Yrisks? Y- YCorrect Y YAnswer Y- YA Yrisk Yclassification Yused Ywhen Ydetermining Yhow
Ymuch Yrisk Ya Yconsumer Yis Yand Yhow Ymuch Ytheir Ypremium Yshould Ybe


Standard Yrisks Yare Yentitled Yto Yinsurance Yprotection Ywithout Yextr Yrating Yor Yspecial Yrestrictions.
YThey Yare Yrepresentative Yof Ythe Ymajority Yof Ypeople Ytheir Yage Yand Ywith Ysimilar Ylifestyles,
Yaverage Yrisk.


What Yare Ysubstandard Yrisks? Y- YCorrect Y YAnswer Y- YA Yrisk Yclassification Yused Ywhen Ydetermining
Yhow Ymuch Yrisk Ya Yconsumer Yis Yand Yhow Ymuch Ytheir Ypremium Yshould Ybe


Substandard Y(high Yexposure) Yare Ynot Yacceptable Yat Ystandard Yrates Ybecause Yo Yphysical Ycondition,
Ypersonal Yor Yfamily Yhistory Yof Ydisease, Yoccupation, Yor Ydangerous Yhabits


Also Yreferred Yto Yas Y"rated" Ybecause Ythey Ycould Ybe Yissued Ythe Ypremium Y"rated Yup", Yor Yhigher.

What Yare Ydeclined Yrisks? Y- YCorrect Y YAnswer Y- YPeople Ywho Yare Yrejected Yfrom Ylife Yinsurance

A Yrisk Ymay Ybe Ydeclined Ybecause Ythere Yis Yno Yinsurable Yinterest, Ythe Yapplicant Yis Ymedically
Yunacceptable, Ythe Ypotential Yfor Yloss Yis Yso Ygreat Yit Ydoes Ynot Ymeet Ythe Ydefinition Yfor Yinsurance,
Yand Ythe Yinsurance Yis Yprohibited Yby Ypublic Ypolicy Yor Yis Yillegal


What Yis YSTOLI? Y- YCorrect Y YAnswer Y- YStranger-originated Ylife Yinsurance Y

A Ylife Yinsurance Yarrangement Yin Ywhich Ya Yperson Ywith Yno Yrelationship Yto Ythe Yinsured Ypurchases
Ya Ylife Ypolicy Yon Ythe Yinsured's Ylife Ywith Ythe Yintent Yof Yselling Ythe Ypolicy Yto Yan Yinvestor Yand
Yprofiting Yfinancially Ywhen Ythe Yinsured Ydies.


STOLIs Yviolate Ythe Yprinciple Yof Yinsurable Yinterest

When Ydoes Ycoverage Ybegin? Y- YCorrect Y YAnswer Y- YIf Ypayment Yis Ycollected Yat Ythe Ytime Yof
Yapplication, Yit Ybegins Yon Ythe Ydate Yof Ythe Yapplication.


If Ya Ypayment Yhas Ynot Ybeen Yreceived, Yit Ymust Ybe Yreceived Ywhen Ythe Ypolicy Yis Ydelivered Yand
Ythen Ythe Ystart Ydate Yis Ythe Ydate Yof Ydelivery


What Yis Ythe YUSA YPATRIOT YAct? Y- YCorrect Y YAnswer Y- YThe YUniting Yand YStrengthening YAmerica Yby
YProviding YAppropriate YToolss YRequired Yto YIntercept Yand YObstruct YTerrorism YAct.


Enacted Yon YOct. Y26, Y2001

Purpose Yis Yto Yaddress Ysocial, Yeconomic, Yand Yglobal Yinitiatives Yto Yfight Yand Yprevent Yterrorist
Yactivities


What Yare Ythe Y3 Ykey Yfactors Yfor Ylife Yinsurance? Y- YCorrect Y YAnswer Y- YMortality, Yinterest Yand
Yexpense

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