Wisconsin Accident & Health Insurance- Exam 3 Questions and Answers well Explained Latest 2024/2025 Update 100% Correct.
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Wisconsin Accident & Health Insurance
Why were Exchanges implemented by the Affordable Care Act (ACA)?
To create a one-stop market for standardized health insurance plans.
Provide an additional stream of income for the Federal government.
To enforce every U.S citizen to purchase health insurance.
Assist in the conversion of individ...
Wisconsin Accident & Health Insurance-
Exam 3
Why were Exchanges implemented by the Affordable Care Act (ACA)?
To create a one-stop market for standardized health insurance plans.
Provide an additional stream of income for the Federal government.
To enforce every U.S citizen to purchase health insurance.
Assist in the conversion of individual policies to government mandated plans. - To create a one-
stop market for standardized health insurance plans.
A licensee whose name or address changes must notify the Commissioner within
15 days by written notice.
15 days by phone notice.
30 days by written notice.
30 day by phone notice. - 30 days by written notice.
A handicapped child is covered under an individual disability (accident & health) policy. If continuation of
coverage is needed beyond the policy's age limit, which of the following is required?
Child must be enrolled full-time in an accredited university.
Child must be dependent on the primary insured and is incapable of self-sustaining employment.
Child must produce evidence of insurability.
Child must be employed part-time. - Child must be dependent on the primary insured and is
incapable of self-sustaining employment.
,A notice of intent to nonrenew a policy by the insurer requires at least how many days written notice
before
policy expiration
10 days
30 days
45 days
60 days. - 60 days.
A person who is not licensed as an intermediary may do all of the following EXCEPT
make appointments for an intermediary.
receive a referral fee.
mail policies to insureds.
receive a commission. - receive a commission.
A policyowner's statement that promotes an insurance company and its policy by describing the policy's
benefits is called
a certification.
a testimonial.
an advertisement.
a promotion. - a testimonial.
A prepaid dental plan has an agreement in place with a network of dentists which
Allows the dentists to determine the deductible and coinsurance amounts.
Accepts an established amount as payment in full for the dental services rendered.
,Requires all the dentists to be located within the same state.
A copy of all Medicare Supplement advertisements must be submitted for approval to
The Commissioner.
The Department of Health.
The Centers for Medicare and Medicaid Services.
The Social Security Administration. - The Commissioner.
Must cover 100% of all orthodontic treatments. - Accepts an established amount as payment in
full for the dental services rendered.
A requirement for becoming an intermediary is to be trustworthy and
competent.
forthcoming.
bonded.
insured. - competent.
A small employer group is an employer that employs how many?
2-25 employees.
2-50 employees.
2-75 employees.
2-100 employees. - 2-50 employees.
A(n) ________ order may be issued by the Insurance Commissioner.
compliance.
, incarceration.
reciprocal.
subrogation. - compliance.
Access to premium tax credits and reduced cost sharing is made available ONLY if the consumer
purchases health coverage in
The health insurance exchange.
an HMO.
a PPO.
a self-directed health plan. - The health insurance exchange.
According to the Affordable Care Act (ACA), dependent children may remain on their parent's plan until
what age?
Age 25.
Age 26.
Age 27.
Age 28. - Age 26.
According to the Affordable Care Act (ACA), insurers can no longer deny health coverage due to pre-
existing conditions unless that plan is a(n)
Grandfathered plan.
Accident plan.
Individual plan.
Group plan. - Grandfathered plan.
According to the Affordable Care Act (ACA), the proportion of premium revenues spent on clinical
services and quality improvements is called the
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