SC ACCIDENT. HEALTH, AND LIFE
INSURANCE EXAM
31 days - ANSWERS-The grace period in SC is
upon distribution - ANSWERS-Under traditional IRA, interest earned
is taxed
MEWA (multiple employer welfare association) - ANSWERS-Small
employees who are sponsored by an insurer to provide group benefits
to its employees are
An S-Corp owner with a greater than 2% share - ANSWERS-Which
of the following is INELIGIBLE to participate in a Section 125 Plan?
elimination periods - ANSWERS-All of these are characteristics of a
major medical expense policy except
reduction of premium - ANSWERS-All of the following are
considered to be nonforfeiture options available to a policyowner
EXCEPT
preventative health services - ANSWERS-A health insurance policy
will typically cover
, Certificate of coverage and benefits - ANSWERS-The coverage,
conditions, and limitations in the master policy of a group contract
can be found in which document
7.5% - ANSWERS-A 10% excise tax is normally applied to an early
withdrawl from an IRA. According to HIPPA this tax will not be
applied if the withdrawal is used for medical expenses taht exceed
____ of the individual's adjusted gross income.
Concurrent review - ANSWERS-In which of the following processes
will the insurer oversee the insured's hospital stay to confirm
everything is going according to schedule and that the insured will be
released as planned?
Long Term Care Insurance Premium - ANSWERS-The IRS allows a
taxpayer to deduct medical expenses that exceed 7.5% of their
adjusted gross income. Which of the following is considered a tax
deductible medical expense under this rule?
Annuitization Phase - ANSWERS-Which of the following is
considered to be the period when the accumulated value in an annuity
is paid out?
Term - ANSWERS-Which of the following policies does NOT build
cash value
INSURANCE EXAM
31 days - ANSWERS-The grace period in SC is
upon distribution - ANSWERS-Under traditional IRA, interest earned
is taxed
MEWA (multiple employer welfare association) - ANSWERS-Small
employees who are sponsored by an insurer to provide group benefits
to its employees are
An S-Corp owner with a greater than 2% share - ANSWERS-Which
of the following is INELIGIBLE to participate in a Section 125 Plan?
elimination periods - ANSWERS-All of these are characteristics of a
major medical expense policy except
reduction of premium - ANSWERS-All of the following are
considered to be nonforfeiture options available to a policyowner
EXCEPT
preventative health services - ANSWERS-A health insurance policy
will typically cover
, Certificate of coverage and benefits - ANSWERS-The coverage,
conditions, and limitations in the master policy of a group contract
can be found in which document
7.5% - ANSWERS-A 10% excise tax is normally applied to an early
withdrawl from an IRA. According to HIPPA this tax will not be
applied if the withdrawal is used for medical expenses taht exceed
____ of the individual's adjusted gross income.
Concurrent review - ANSWERS-In which of the following processes
will the insurer oversee the insured's hospital stay to confirm
everything is going according to schedule and that the insured will be
released as planned?
Long Term Care Insurance Premium - ANSWERS-The IRS allows a
taxpayer to deduct medical expenses that exceed 7.5% of their
adjusted gross income. Which of the following is considered a tax
deductible medical expense under this rule?
Annuitization Phase - ANSWERS-Which of the following is
considered to be the period when the accumulated value in an annuity
is paid out?
Term - ANSWERS-Which of the following policies does NOT build
cash value
