Wisconsin Accident and Health Insurance Exam Questions
With Complete Solutions
A business becoming incorporated is an example of risk
Reduction
Severance
Retention
Transfer Correct Answers Transfer
A certificate of coverage for a group health policy is best
described as
A contract between the employer and employee
A contract between the employer and insurer
Proof of coverage for the employee
Proof of coverage for the employer Correct Answers Proof of
coverage for the employee
A comprehensive group policy also covers expenses related to
vision care. Which of the following is not typically covered
under a vision plan?
Cataract Surgery.
Routine eye exam.
Corrective vision glasses.
Corrective contact lenses. Correct Answers Cataract Surgery.
A contract is considered void in all of the following situations
EXCEPT
When one party is a minor
When consideration is unequal
,When consideration is incomplete
When agreement cannot be reached between parties Correct
Answers When consideration is unequal
A disability income insurance policy was recently issued with a
rating. What does this mean?
Policyowner will be charged an additional premium.
Policy will have specific illnesses excluded from coverage.
Policyowner will be charged a reduced premium.
Policy will have a longer waiting period. Correct Answers
Policyowner will be charged an additional premium.
A disabled business owner who has payroll and business
expenses paid for has what kind of insurance policy?
Key person.
Franchise disability.
Business overhead expense.
Disability income. Correct Answers Business overhead
expense.
A group health insurance policy is a contract between an
Employee and insurance company
Employee and employer
Employer and insurance company
Employer and producer Correct Answers Employer and
insurance company
A group health insurer's acquisition costs are usually highest:
,In the first plan year
In the second plan year
After the first renewal
After the second renewal Correct Answers In the first plan year
A group-owned insurance company that is formed to assume
and spread the liability risks of its members is known as a
Risk retention group
Treaty insurer
Risk assumption group
Captive insurer Correct Answers Risk retention group
A health maintenance organization (HMO) usually provides all
of the following inpatient hospital services EXCEPT:
Preadmission certification
Concurrent utilization review
Discharge planning
Payment for convenience items Correct Answers Payment for
convenience items
A hold-harmless clause is an example of risk
Avoidance
Retention
Transfer
Sharing Correct Answers Transfer
A mandatory second surgical opinion provision typically would
encourage all of the following EXCEPT:
, Fewer elective surgeries
Higher total health plan costs for an employer
Independent review of recommendations for surgery
Better management of the health care plan Correct Answers
Higher total health plan costs for an employer
A policyowner suffers an injury that renders him incapable of
performing one or more important job duties. Any decrease in
income resulting from this injury would make him eligible for
benefits under which provision?
Partial disability.
Nondisabling injury.
Presumptive disability.
Flat amount disability. Correct Answers Partial disability.
A producer or agent who negligently replaces health insurance
for a client creates potential liability for:
Breach of good faith
Errors and omissions
Personal injury
The former insurer Correct Answers Errors and omissions
A producer working for an insurance company may be
personally liable for
Acts performed which are expressed in the agency contract
Acts performed which are prohibited in the agency contract
All actions taken on behalf of the insurer
With Complete Solutions
A business becoming incorporated is an example of risk
Reduction
Severance
Retention
Transfer Correct Answers Transfer
A certificate of coverage for a group health policy is best
described as
A contract between the employer and employee
A contract between the employer and insurer
Proof of coverage for the employee
Proof of coverage for the employer Correct Answers Proof of
coverage for the employee
A comprehensive group policy also covers expenses related to
vision care. Which of the following is not typically covered
under a vision plan?
Cataract Surgery.
Routine eye exam.
Corrective vision glasses.
Corrective contact lenses. Correct Answers Cataract Surgery.
A contract is considered void in all of the following situations
EXCEPT
When one party is a minor
When consideration is unequal
,When consideration is incomplete
When agreement cannot be reached between parties Correct
Answers When consideration is unequal
A disability income insurance policy was recently issued with a
rating. What does this mean?
Policyowner will be charged an additional premium.
Policy will have specific illnesses excluded from coverage.
Policyowner will be charged a reduced premium.
Policy will have a longer waiting period. Correct Answers
Policyowner will be charged an additional premium.
A disabled business owner who has payroll and business
expenses paid for has what kind of insurance policy?
Key person.
Franchise disability.
Business overhead expense.
Disability income. Correct Answers Business overhead
expense.
A group health insurance policy is a contract between an
Employee and insurance company
Employee and employer
Employer and insurance company
Employer and producer Correct Answers Employer and
insurance company
A group health insurer's acquisition costs are usually highest:
,In the first plan year
In the second plan year
After the first renewal
After the second renewal Correct Answers In the first plan year
A group-owned insurance company that is formed to assume
and spread the liability risks of its members is known as a
Risk retention group
Treaty insurer
Risk assumption group
Captive insurer Correct Answers Risk retention group
A health maintenance organization (HMO) usually provides all
of the following inpatient hospital services EXCEPT:
Preadmission certification
Concurrent utilization review
Discharge planning
Payment for convenience items Correct Answers Payment for
convenience items
A hold-harmless clause is an example of risk
Avoidance
Retention
Transfer
Sharing Correct Answers Transfer
A mandatory second surgical opinion provision typically would
encourage all of the following EXCEPT:
, Fewer elective surgeries
Higher total health plan costs for an employer
Independent review of recommendations for surgery
Better management of the health care plan Correct Answers
Higher total health plan costs for an employer
A policyowner suffers an injury that renders him incapable of
performing one or more important job duties. Any decrease in
income resulting from this injury would make him eligible for
benefits under which provision?
Partial disability.
Nondisabling injury.
Presumptive disability.
Flat amount disability. Correct Answers Partial disability.
A producer or agent who negligently replaces health insurance
for a client creates potential liability for:
Breach of good faith
Errors and omissions
Personal injury
The former insurer Correct Answers Errors and omissions
A producer working for an insurance company may be
personally liable for
Acts performed which are expressed in the agency contract
Acts performed which are prohibited in the agency contract
All actions taken on behalf of the insurer
