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examfx life and health exam
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EXAMFX LIFE AND HEALTH EXAM NEWEST
ACTUAL EXAM COMPLETE 300 QUESTIONS AND
CORRECT DETAILED ANSWERS (VERIFIED
ANSWERS) |ALREADY GRADED A+
Subrogation - ANSWER the transfer of an insured's right to seek damages from a
negligent party to the insurer is found in which of the following clauses?
control health insurance claims expenses - ANSWER the purpose of managed care
health insurance is to
the insurance through his company is primary - ANSWER a man works for company
A and his wife works for company B. The spouses are covered by health plans
through their respective companies that also cover the other spouse. If the husband
files a claim
a permanent resident lawfully present in the U.S. - ANSWER which of the following
individuals will be eligible for coverage on the Health Insurance Marketplace?
present earnings and earnings prior to disability - ANSWER which of the following
are the main factors taken into account when calculating residual disability benefits
100% - ANSWER S is a sole business proprietor who owns a medical expense plan.
what percentage of the cost of the plan may he deduct?
pregnancy will be covered immidiately - ANSWER A woman obtains health coverage
through the Marketplace on October 1. Two weeks later she finds out that she is 3
months pregnant. Which of the following is true about coverage for pregnancy?
Payment is limited to a certain period of time - ANSWER which of the following
applies to partial disability benefits
when the expenses exceed a certain percentage of the insured's adjusted gross
income - ANSWER when may an insured deduct unreimbursed medical expenses
paid under a long term care policy
occupational - ANSWER an insured has health insurance that covers them at work
and at home. this policy has written on what basis?
Work-related disability - ANSWER workers compensation insurance covers a
worker's medical expenses resulting from work related sickness or injuries and
covers loss of income from
this is a form of insurance that covers part time workers - ANSWER Which of the
following is NOT true regarding partial disability?
, 10% - ANSWER individuals who itemize deductions can claim deductions for
medical expenses not covered by health insurance that exceed what percent of their
adjusted gross income?
the policyowner has the right to change beneficiaries in any case - ANSWER which
of the following statements regarding the Change of beneficiaries provision is false?
No tax - ANSWER in an individual long-term care insurance plan, the insured is able
to deduct the premiums from taxes. What income taxation will be imposed on the
benefits received?
Employee benefits are tax deductible the year in which they were received -
ANSWER Concerning group medical and dental insurance, which of the following
statements in INCORRECT?
100% - ANSWER for group medical and dental expense insurance, what percentage
of premium paid by the employer is deductible as a business expense?
premiums are not tax deductible, and benefits are not taxable - ANSWER which of
the following describes taxation of individual disability income insurance premiums
and benefits?
premiums are tax deductible and benefits are not taxed - ANSWER which of the
following is correct regarding the taxation of group medical expense premiums and
benefits?
$5,000 - ANSWER an insured has a primary group health plan and an excess plan,
each covering losses up to $10,000. The insured suffered a loss of $15,000.
Disregarding any copayments or deductibles, how much will the excess plan pay?
"own occupation" - less restrictive than other definitions - ANSWER a brain surgeon
has an accident and develops tremors in her right arm. which of the disability
30 - ANSWER what is the maximum age for qualifying for a catastrophic plan?
change of beneficiary - ANSWER Alexander has a policy with his ex-wife as its
beneficiary. What provision allows him to change the beneficiary to his new wife?
Premiums are tax-deductible - ANSWER Which of the following is CORRECT
regarding Business Overhead Insurance?
the insured was in compliance with the policy requirements regarding claims. -
ANSWER an insured submitted a notice of claim to the insurer, but never received
claims forms. he later submits proof of loss, and explains the nature and extent of
loss in a hand-written letter. which of the following is true?
to allow the consumer to compare the costs of different policies - ANSWER what is
the purpose of the buyer's guide?
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