Colorado Life & Health Insurance Exam Questions And Correct Answers.
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Course
COLORADO LIFE INSURANCE
Institution
COLORADO LIFE INSURANCE
utilization review - Answer a set of formal techniques to monitor the use or clinical necessity of health care, determining the application of exclusions, and the medical necessity of treatment.
30 days for electronic; 45 days for paper - Answer With a clean claim, the insured has ? days f...
Colorado Life & Health Insurance Exam
Questions And Correct Answers.
utilization review - Answer a set of formal techniques to monitor the use or clinical necessity of health
care, determining the application of exclusions, and the medical necessity of treatment.
30 days for electronic; 45 days for paper - Answer With a clean claim, the insured has ? days for paying
or denying electronic and ? days for paper claims.
Enforces - Answer The Commissioner ______ laws and does not create them.
5 years - Answer Every ____ years, a licensed insurer must be examined by the state commissioner.
Adverse selection - Answer What is a major concern for Underwriters, especially during the open
enrollment period?
Conversion privilege - Answer Allows individual policy conversion upon plan group termination
Non-taxable - Answer Benefits are taxable or non-taxable (?) to employees.
20 - Answer Employers with ___ + employees are required to offer COBRA for up to 18 months after an
employee is terminated.
Master policy - Answer In group health insurance a ______ type of policy is issued to the group
sponsor.
Impairment rider - Answer Temporary or permanent rider added to a policy that includes specific
conditions which would normally cause a policy to be declined.
Free Look Period - Answer The period of time for the insured to look over a policy after it is issued (10
days for health insurance, 15 for life)
, Class - Answer The guaranteed renewable provision states that premiums can only be increased by
_________.
Legal Actions Provision - Answer The ___________ states that one has 60 days after proof of loss with a
2-year limit on certain defenses.
Insurers - Answer The insuring clause includes ____________'s promise to pay benefits.
Proof of loss provision - Answer This provision states that the insured must provide proof of loss within
90 days, up to a 1-year maximum.
elimination period - Answer waiting period after a loss occurs before benefit period begins (30, 90
days, up to 1 year)
Part C - Answer Medicare Advantage plan, substitution for original benefits (A & B)
Medicare Part A - Answer Hospital insurance, covers inpatient and hospice
Medicare Part B - Answer Outpatient treatment, ER treatment, preventive care is looped under Part
___
Supplement Part A - Answer Also known as Medigap, this part covers core benefits, including hospice
care; premiums vary.
Guaranteed Insurability Rider - Answer Optional rider that enables the policyowner to purchase
additional amounts of coverage at predetermined times without proof of insurability
Accidental Death Benefit Rider - Answer doubles the face amount of life insurance if death occurs as a
result of an accident
Term Insurance Rider - Answer Often added to a whole life policy to increase coverage.
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