Olivegrades

Medi-Cal Peer Support Specialist Core Competencies - ANSWER 1. The concepts of hope, recovery, and wellness. 2. The role of advocacy. 3. The role of consumers and family members 4. Psychiatric rehabilitation skills and service delivery, and addiction recovery principles, including defined practices. 5. Cultural and structural competence trainings. 6. Trauma-informed care. 7. Group facilitation skills. 8. Self-awareness and self-care. 9. Co-occurring disorders of mental health and substan...

term insurance - ANSWER temporary protection because it only provides coverage for a specific period of time face amount - ANSWER death benefit 3 basic types of term coverage - ANSWER level, increasing, decreasing - based on how the face amount changes during the policy term What is the premium in term insurance? - ANSWER regardless of type of term insurance purchased, premium is level throughout the term of policy

An insurance producer selling a Variable Annuity whose cash value depends on the performance of an underlying investment account must be registered with: - ANSWER The Financial Industry Regulatory Authority (FINRA, formerly the NASD) A life insurance policy whose cash value will fluctuate depending upon the performance of a separate account is: - ANSWER Variable Life John Livingston owns a 30-Pay Life policy that he purchased at the age of 30. The cash value will equal the face amount of t...

indemnify - ANSWER make a person whole by restoring that person to the same financial position that existed before the loss transfer of risk - ANSWER basic principal of all insurance risk - ANSWER two components: a possibility of loss and the uncertainty about whether the loss will occur pure risk - ANSWER there is only a chance for loss and no possiblity of a gain. only pure risk is insurable

Which of the following is a standard provision of the conversion privileges in a Group Life Policy? - ANSWER Group Life coverage can be converted to an individual policy without providing evidence of insurability It is a legitimate insurance marketing practice to obtain business from a competitor by all of the following means, EXCEPT - ANSWER agreeing to reduce commissions in order to obtain a sale What is the best description of an Insurer? - ANSWER person or

The process of determining the premium charged and how much insurance is required for a particular loss is called - ANSWER Loss Valuation What type of compensatory damages will pay for pain and suffering and disfigurement? - ANSWER General For insurance purposes, when an insured loses property to another because the person used violence or threat of violence to gain the property, this is defined as - ANSWER Robbery What type of insurance policy insures against all risks of loss that are...

Which of the following reimburses its insureds for covered medical expenses? - health maintenance organizations - preferred provider organizations - commercial insurers - service providers - ANSWER COMMERCIAL INSURERS - Commercial insurance companies function on the reimbursement approach. Policyowners obtain medical treatment from whatever source they feel is most appropriate and submit their charges to their insurer for reimbursement A business entity can be defined as a(n) - agency t...

risk - ANSWER Uncertainty of loss insurance - ANSWER the transfer of RISK pure risk - ANSWER lose or have no change - insurable speculative risk - ANSWER NOT insurable. possibility to lose or gain hazard - ANSWER something that increases risk indemnity - ANSWER a payment for damage or loss; purpose is to restore the insured to where they were prior to their loss.

What are the two components of a universal policy? - ANSWER Insurance and cash account No forfeiture values guarantee which of the following for the policy owner? - ANSWER That the cash value will not be lost A business owner was trying to obtain a bank loan to fund the purchase of a new business facility, but the bank required proof of additional assets to secure the loan. The business owner then decided to use her $250,000 life insurance policy to secure the loan. Which provision makes t...

What is the underlying concept regarding level premiums? - ANSWER The early years are charged more than what is needed At what time must a policy owner have insurable interest on the insured in order for the life policy to be valid? - ANSWER At the time of application When a policyowner cash surrenders a universal life insurance policy in it's early years, this may be considered a red flag for a(n): - ANSWER Anti-money laundering violation