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CT Life and Health Insurance Exam 235 Questions with Verified Answers,100% CORRECT
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CT Life and Health Insurance Exam 235 Questions with Verified Answers
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CT Life and Health Insurance Exam 235 Questions withVerified Answers
Laura added a children's rider to her life insurance policy. What type of coverage
was added? - CORRECT ANSWER Level term
With life insurance, the needs approach is used primarily in determining -
CORRECT ANSWER How much life insurance a client should apply for
A(n) __________ is a licensee who charges a fee for contracted insurance
advisory services. - CORRECT ANSWER Consultant
Jonas is covered with disability insurance through his employer. The employer
pays 75% of the premium, while Jonas pays the other 25%. What is Jonas' tax
liability for any benefits paid from the disability plan? - CORRECT ANSWER Taxes
must be paid on 75% of the benefits received
The Commissioner is empowered to perform each of the following acts EXCEPT -
CORRECT ANSWER Makes rules that are consistent with those of neighboring
states
(Monitor insurer solvency, make rules and regulations that are consistent with the
laws of CT, monitor insurer premium rates)
How are the premiums for an individually-owned disability income policy treated
for tax purposes? - CORRECT ANSWER Not tax-deductible at all
Scott has a life insurance policy in which the dividends are left with the insurance
company. This particular policy may be paid up when the cash value plus
accumulated dividends - CORRECT ANSWER Equal the net single premium for the
same face amount at the insured's attained age
Which of these is NOT a standard provision in qualified long-term care policies
sold in Connecticut? - CORRECT ANSWER Prior hospitalization
,(30-day free look period, guaranteed renewability, provide minimum coverage for
12 consecutive months)
Accident and health insurance claim handling is made more convenient to the
insured by utilizing - CORRECT ANSWER Assignment of benefits
Specialty care is provided by which of the following health maintenance
organization (HMO) providers? - CORRECT ANSWER Neurologist
Which of the following facilitates nonresident licensing in the state of
Connecticut? - CORRECT ANSWER Reciprocity agreement
To secure authority for soliciting insurance products in the State of Connecticut,
an insurance company must secure a certificate of authority from - CORRECT
ANSWER The Connecticut Insurance Commissioner
A group health certificate for coverage issued in Connecticut MUST contain a(n) -
CORRECT ANSWER Summary of policy features and benefits
Any employee insured under a group life insurance plan is normally - CORRECT
ANSWER Covered with term life insurance
Which statement regarding whole life insurance is accurate? - CORRECT ANSWER
Insurance coverage can continue for life
All of these are considered to be a violation of the Federal Fraud and False
Statements Act EXCEPT - CORRECT ANSWER Claims reimbursement
(Overvaluing land, abstracting funds, false entries on reports)
A comprehensive major medical health insurance policy contains an Eligible
Expenses provision which identifies the types of health care services that are
covered. All of the following health care services are typically covered EXCEPT for
- CORRECT ANSWER Experimental and investigative services
(Hospital charges, physician fees, nursing services)
, An employee welfare plan exempt from ERISA regulations would be - CORRECT
ANSWER Church plans
Medicare Part B excess charges are covered by - CORRECT ANSWER Medicare
Supplemental insurance
A major medical expense policy typically does NOT - CORRECT ANSWER Pay
surgeon fees on a first-dollar basis
(Contain a deductible, have a high limit of coverage, contain a coinsurance
provision)
Mary has a Health Savings Account (HSA). Distributions that she has made for
anything other than qualified medical expenses are considered taxable and
subject to a penalty of - CORRECT ANSWER 20%
Under an adjustable life insurance policy, which of the following may NOT be
changed without further underwriting? - CORRECT ANSWER The person insured
(The period of coverage, the payment period, the plan of coverage)
When a producer acts within the scope of his/her contractual authority, which of
the following is legally responsible for these actions? - CORRECT ANSWER The
insurer
An accident and health insurer has just received written proof of loss from one of
its insureds. The insured must now wait 60 days before - CORRECT ANSWER
Bringing legal action against the insurer
During the sale of a life insurance policy, a producer may provide an incomplete
illustration - CORRECT ANSWER Never
Taking a sum of money and decreasing it in size is called - CORRECT ANSWER
Capital liquidation
In Connecticut, continuing education courses must be approved by the - CORRECT
ANSWER Commissioner
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