ALASKA ADJUSTER EXAM COMPREHENSIVE
STUDY GUIDE 2026 VERIFIED ANSWERS
◉ What provision provides for the sharing of expenses between the
insured and the insurance company? Answer: Coinsurance
◉ What health policy provision prevents the insured from bringing a
lawsuit against the insurance company for at least 60 days after
proof of loss is provided? Answer: legal actions
◉ A waiver of premium provision may be included with what type of
health insurance policies? Answer: Disability Income
◉ What is the main difference between coinsurance and copay?
Answer: Copay is a set amount, Coinsurance is a percentage of the
expenses
◉ According to the Reinstatement provision, once a lapsed policy is
reinstated how soon will coverage be available for accidents?
Answer: Immediately
◉ What health policy provision defines the insured's duty to provide
the insurer with reasonable notice in the event of a loss? Answer:
Notice of claim
,◉ What will happen to a health insurance policy if the premium has
not been paid by the end of the grace period? Answer: The policy
will be cancelled
◉ Which health insurance provision describes the insured's right to
cancel coverage? Answer: Renewable Provision
◉ What are usual/reasonable and customary charges based on?
Answer: Average charge for a given procedure in the specific
geographic area
◉ What does the free-look period allow the insured to do? Answer:
Return the policy for a full refund of premium within a specified
time period
◉ If a health insurance policy has a 31-day grace period, what does
that mean? Answer: The policy remains in effect for 31 days after the
premium is due and not paid
◉ What health policy provision describes the insured's right to
cancel coverage? Answer: Renewability provision
◉ If the insured pays a monthly premium for health insurance, how
long would the grace period be on the policy? Answer: 10 days
, ◉ Under an individual disability income policy, the benefits must be
paid on at least what schedule? Answer: Monthly
◉ What health policy provision allows the insured a period of time
to examine the policy and determine whether to keep it? Answer:
Free-look Period
◉ According to the Time Limit on Certain Defenses provision in
health insurance policies, when can an insurer contest fraudulent
misstatements on a health insurance application? Answer: Anytime
while the policy is in force/active
◉ What section of a health insurance policy lists the services for
which the insurer will NOT provide coverage? Answer: Exclusions
◉ What is a deductible in a health insurance policy? Answer: A
specified dollar amount that the insured must pay before the insurer
will pay the policy benefits
◉ What is the purpose of the coinsurance provision in health
insurance policies? Answer: To prevent over-utilization of the policy
benefits
STUDY GUIDE 2026 VERIFIED ANSWERS
◉ What provision provides for the sharing of expenses between the
insured and the insurance company? Answer: Coinsurance
◉ What health policy provision prevents the insured from bringing a
lawsuit against the insurance company for at least 60 days after
proof of loss is provided? Answer: legal actions
◉ A waiver of premium provision may be included with what type of
health insurance policies? Answer: Disability Income
◉ What is the main difference between coinsurance and copay?
Answer: Copay is a set amount, Coinsurance is a percentage of the
expenses
◉ According to the Reinstatement provision, once a lapsed policy is
reinstated how soon will coverage be available for accidents?
Answer: Immediately
◉ What health policy provision defines the insured's duty to provide
the insurer with reasonable notice in the event of a loss? Answer:
Notice of claim
,◉ What will happen to a health insurance policy if the premium has
not been paid by the end of the grace period? Answer: The policy
will be cancelled
◉ Which health insurance provision describes the insured's right to
cancel coverage? Answer: Renewable Provision
◉ What are usual/reasonable and customary charges based on?
Answer: Average charge for a given procedure in the specific
geographic area
◉ What does the free-look period allow the insured to do? Answer:
Return the policy for a full refund of premium within a specified
time period
◉ If a health insurance policy has a 31-day grace period, what does
that mean? Answer: The policy remains in effect for 31 days after the
premium is due and not paid
◉ What health policy provision describes the insured's right to
cancel coverage? Answer: Renewability provision
◉ If the insured pays a monthly premium for health insurance, how
long would the grace period be on the policy? Answer: 10 days
, ◉ Under an individual disability income policy, the benefits must be
paid on at least what schedule? Answer: Monthly
◉ What health policy provision allows the insured a period of time
to examine the policy and determine whether to keep it? Answer:
Free-look Period
◉ According to the Time Limit on Certain Defenses provision in
health insurance policies, when can an insurer contest fraudulent
misstatements on a health insurance application? Answer: Anytime
while the policy is in force/active
◉ What section of a health insurance policy lists the services for
which the insurer will NOT provide coverage? Answer: Exclusions
◉ What is a deductible in a health insurance policy? Answer: A
specified dollar amount that the insured must pay before the insurer
will pay the policy benefits
◉ What is the purpose of the coinsurance provision in health
insurance policies? Answer: To prevent over-utilization of the policy
benefits
