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Connecticut Life and Health Final (2024/2025) Exam Questions with Correct Detailed Answers || Already Graded A+ <LATEST VERSION>

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Connecticut Life and Health Final (2024/2025) Exam Questions with Correct Detailed Answers || Already Graded A+ &lt;LATEST VERSION&gt; 1. The free look period provided in a life insurance policy is usually - ANSWER 10 days 2. Before soliciting insurance application...

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  • November 12, 2024
  • 56
  • 2024/2025
  • Exam (elaborations)
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Connecticut Life and Health Final
(2024/2025) Exam Questions with Correct
Detailed Answers || Already Graded A+
<LATEST VERSION>


BRAND
NEW!!



1. The free look period provided in a life insurance policy is usually -
ANSWER ✔ 10 days

2. Before soliciting insurance applications for an insurer, a producer must
secure a(n) - ANSWER ✔ Appointment - a producer must secure an
appointment with an insured before soliciting insurance applications for that
insurer


3. Which of the following best describes a "partial disability"?
Becoming deaf in one ear
Unable to perform all job duties due to a short-term disability
Unable to perform one ore more job duties
When a disability recurs from a previous illness accident - ANSWER ✔ Unable
to perform one or more job duties - partial disability is normally defined as the
inability to perform one more duties of a job

,4. A producer recently replaced an existing Medicare supplement policy with a
new policy. The producers compensation for the new policy ____ exceed the
renewal commission of the original policy. - ANSWER ✔ CANNOT -
compensation for a new Medicare supplement policy that replaces an existing
policy cannot exceed the renewal commission of the original policy


5. If an individual would like to enroll in Medicare or seek public information
about Medicare, which federal agency handles this? - ANSWER ✔ Social
Security Administration


6. What type of risk involves the potential for loss with no possibility for gain? -
ANSWER ✔ pure risk


7. Which of the following actions may result in a producer's license being
suspended by the commissioner?
Soliciting insurance under a temporary license
Rebating part of a commission to the applicant
Soliciting insurance on behalf of a foreign insurer
Splitting the commission with another licensed producer - ANSWER ✔
Rebating a portion of the commission to the insured may result in the
commissioner suspending a producers license


8. Which of these is not an underwriting responsibility of a life insurance agent?


Asking relevant questions concerning an applicants avocations
Requesting an attending physicians report
Ordering an inspection report

,Determining the final rate classification - ANSWER ✔ Determining the final
rate classification


9. Which entity is responsible for regulating claims settlement practices of
insurers? - ANSWER ✔ State insurance departments - claims settlement
practices of insurers are regulated by state insurance departments


10.The coordination of benefits provision is added to a group health plan in
order to - ANSWER ✔ Avoid overinsurance - the coordination of benefits
provision establishes an order on which plans pay their claims, and allows
secondary plans to reduce their benefits so that the combined benefits of all
plans do not exceed total allowable expenses (overinsurance)


11.Which of these is a type of private insurance that covers the cost-sharing
amounts under Medicare?
Major medical insurance
Medicaid
Disability income
Medicare supplement - ANSWER ✔ Medicare supplement policy - helps pay for
the out-of-pocket expenses involved under a Medicare claim


12.A disabled business owner who has payroll and business expenses paid for
has what kind of insurance policy? - ANSWER ✔ Business Overhead
Expense


13.How may an insurance company classify an accidental death benefit on a life
policy? - ANSWER ✔ As an optional policy rider - the accidental death
benefit provided by a life insurance policy may be classified as an optional
policy rider

, 14.Which of these is not an advantage of term life insurance?


The greatest amount of coverage can be provided for the initial premium paid
It can be provided as a rider to another policy
A cash benefit will be provided if the insured is alive at the end of the policy
period
temporary insurance needs can be met - ANSWER ✔ A cash benefit will be
provided if the insured is alive at the end of the policy period - term life
insurance does not provide a cash benefit at the end of the policy period


15.How are monthly life annuity benefit payments treated under a tax sheltered
annuity (TSA)? - ANSWER ✔ Taxed as ordinary income in the year received
- monthly life annuity benefit payments received from a tax sheltered annuity
(TSA) are taxed as ordinary income in the year received


16.Which of the following would most likely purchase an immediate annuity? -
ANSWER ✔ Retiree having a lump sum to invest


17.Insurance crimes which affect interstate commerce are prosecuted by the -
ANSWER ✔ US Attorney General - a violation of US Code 1033, crimes by
or affecting persons engaged in the business of insurance whose activities
affect interstate, commerce, is prosecuted by the US Attorney General


18.When does a family health policy's coverage for a newborn child begin? -
ANSWER ✔ At the moment of birth


19.A qualified profit-sharing plan is designed to - ANSWER ✔ distribute a
portion of company earnings to its employees

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