Wisconsin Life, Accident, & Health Exams Prep (This set
contains practice questions for the General and State Series
22-01 (Life Insurance) and 22-03 (Health and Accident
Insurance) Questions With Complete Solutions
"Maximum benefits" refers to the
a. upper limit of the total lifetime benefits the insurance
company will pay
b. upper limit percentage of what the insurance company will
pay for coinsurance
c. upper limits of what the insured will pay in out-of-pocket
expenses
d. upper limits of what an insurance company will pay for any
particular claim Correct Answers upper limit of the total
lifetime benefits the insurance company will pay
A common exclusion or limitation on a dental policy is:
a. Endodontics
b. Tooth extractions
c. Fluoride treatments
d. X-rays Correct Answers Endodontics
A disability elimination period is best described as a
a. time deductible
b. dollar deductible
c. eligibility period
d. probation period Correct Answers time deductible
A family counseling benefit is typically offered under which of
these coverages?
a. Skilled nursing care
,b. Respite care
c. Home health care
d. Hospice care Correct Answers Hospice care
A life insurance policy that is paid annually must contain a grace
period of at least _____ days.
a. 10
b. 30
c. 31
d. 45 Correct Answers 31
The grace period for a life insurance policy with an annual
premium is usually 31 days.
A life insurance policy that is subject to a contract interest rate is
referred to as:
a. adjustable life
b. group life
c. term life
d. universal life Correct Answers universal life
A life insurance policyowner sells her policy to a third party in a
life settlement. Under this transaction, the policyowner:
a. must pay income taxes on the full amount received
b. receives an amount more than the policy's death benefit
c. receives the policy's full death benefit
d. receives an amount less than the policy's death benefit Correct
Answers receives an amount less than the policy's death benefit
A Medicare Supplement basic benefit is
a. the first 3 pints of blood per year
b. respite care
,c. disability income
d. term life insurance Correct Answers the first 3 pints of blood
per year
A MET third-party administrator may NOT perform which of
the following functions?
a. Claims processing
b. Marketing the plan
c. Underwriting the plan
d. Insuring the plan Correct Answers Marketing the plan
A non-contributory health insurance plan helps the insurer avoid
a. adverse selection
b. state compliance
c. the underwriting process Correct Answers adverse selection
A notice of intent to nonrenew a policy by the insurer requires at
least how many days written notice before policy expiration?
a. 30 days
b. 45 days
c. 50 days
d. 60 days Correct Answers 60 days
A partial surrender is allowed in which of the following life
policies?
a. Adjustable whole life
b. Universal life
c. Decreasing term life
d. Limited whole life Correct Answers Universal life
, A plan in which an employer pays insurance benefits from a
fund derived from the employer's current revenues is called:
a. A self-derived plan
b. A multiple-employer plan
c. A blanket plan
d. A self-funded plan Correct Answers A self-funded plan
A Renewable Term Life Insurance policy can be renewed:
a. at a predetermined date or age, regardless of the insured's
health
b. only if the insured provides evidence of insurability
c. anytime at the policyowner's request
d. typically with no change in premium Correct Answers at a
predetermined date or age, regardless of the insured's health
A rider that assures premiums will be paid on a juvenile policy
until the child reaches a specific age is called a(n)
a. waiver of premium rider
b. payor rider
c. automatic premium loan rider
d. juvenile waiver rider Correct Answers payor rider
A rollover from a Traditional IRA to another IRA MUST be
done within ___ days to avoid tax consequences. Correct
Answers 60 days
A spouse and child can be added to the primary insured's
coverage as what kind of rider?
a. Dependent term
b. Guaranteed insurability
c. Primary term
contains practice questions for the General and State Series
22-01 (Life Insurance) and 22-03 (Health and Accident
Insurance) Questions With Complete Solutions
"Maximum benefits" refers to the
a. upper limit of the total lifetime benefits the insurance
company will pay
b. upper limit percentage of what the insurance company will
pay for coinsurance
c. upper limits of what the insured will pay in out-of-pocket
expenses
d. upper limits of what an insurance company will pay for any
particular claim Correct Answers upper limit of the total
lifetime benefits the insurance company will pay
A common exclusion or limitation on a dental policy is:
a. Endodontics
b. Tooth extractions
c. Fluoride treatments
d. X-rays Correct Answers Endodontics
A disability elimination period is best described as a
a. time deductible
b. dollar deductible
c. eligibility period
d. probation period Correct Answers time deductible
A family counseling benefit is typically offered under which of
these coverages?
a. Skilled nursing care
,b. Respite care
c. Home health care
d. Hospice care Correct Answers Hospice care
A life insurance policy that is paid annually must contain a grace
period of at least _____ days.
a. 10
b. 30
c. 31
d. 45 Correct Answers 31
The grace period for a life insurance policy with an annual
premium is usually 31 days.
A life insurance policy that is subject to a contract interest rate is
referred to as:
a. adjustable life
b. group life
c. term life
d. universal life Correct Answers universal life
A life insurance policyowner sells her policy to a third party in a
life settlement. Under this transaction, the policyowner:
a. must pay income taxes on the full amount received
b. receives an amount more than the policy's death benefit
c. receives the policy's full death benefit
d. receives an amount less than the policy's death benefit Correct
Answers receives an amount less than the policy's death benefit
A Medicare Supplement basic benefit is
a. the first 3 pints of blood per year
b. respite care
,c. disability income
d. term life insurance Correct Answers the first 3 pints of blood
per year
A MET third-party administrator may NOT perform which of
the following functions?
a. Claims processing
b. Marketing the plan
c. Underwriting the plan
d. Insuring the plan Correct Answers Marketing the plan
A non-contributory health insurance plan helps the insurer avoid
a. adverse selection
b. state compliance
c. the underwriting process Correct Answers adverse selection
A notice of intent to nonrenew a policy by the insurer requires at
least how many days written notice before policy expiration?
a. 30 days
b. 45 days
c. 50 days
d. 60 days Correct Answers 60 days
A partial surrender is allowed in which of the following life
policies?
a. Adjustable whole life
b. Universal life
c. Decreasing term life
d. Limited whole life Correct Answers Universal life
, A plan in which an employer pays insurance benefits from a
fund derived from the employer's current revenues is called:
a. A self-derived plan
b. A multiple-employer plan
c. A blanket plan
d. A self-funded plan Correct Answers A self-funded plan
A Renewable Term Life Insurance policy can be renewed:
a. at a predetermined date or age, regardless of the insured's
health
b. only if the insured provides evidence of insurability
c. anytime at the policyowner's request
d. typically with no change in premium Correct Answers at a
predetermined date or age, regardless of the insured's health
A rider that assures premiums will be paid on a juvenile policy
until the child reaches a specific age is called a(n)
a. waiver of premium rider
b. payor rider
c. automatic premium loan rider
d. juvenile waiver rider Correct Answers payor rider
A rollover from a Traditional IRA to another IRA MUST be
done within ___ days to avoid tax consequences. Correct
Answers 60 days
A spouse and child can be added to the primary insured's
coverage as what kind of rider?
a. Dependent term
b. Guaranteed insurability
c. Primary term
