Final Exam - Maryland Life and Health
Questions With Complete Solutions
How are monthly life annuity benefit payments treated under a tax sheltered
| | | | | | | | | | | |
annuity (TSA)? |
taxed as ordinary income in the year received
| | | | | | |
Life Insurance replacement can be best defined as _______?
| | | | | | | |
a transaction in which a new life insurance policy is purchased and an existing life
| | | | | | | | | | | | | | |
insurance policy is surrendered | | |
According the the affordable care act (ACA), dependent children may remain on
| | | | | | | | | | | |
their parent's plan until what age?
| | | | |
26
Long-term care insurance provides ______?
| | | |
one or more diagnostic, preventive, therapeutic, rehabilitative, maintenance, or
| | | | | | | | |
personal care services in a setting other than an acute care unit of a hospital
| | | | | | | | | | | | | |
,Reductions is coverage are one feature of ____ in Health Insurance policies?
| | | | | | | | | | |
cost containment (one feature)
| | |
If group Health benefit levels are too high, what could be the end result?
| | | | | | | | | | | | |
Overutilization of the plan | | |
Rick is a disabled worker receiving Social Security benefits. What benefits are his
| | | | | | | | | | | | |
wife and dependent children eligible for?
| | | | |
An income benefit which is a percentage of his primary insurance amount
| | | | | | | | | | |
An accident and health plan that typically covers ONLY the services of approved
| | | | | | | | | | | | |
providers is called a(n) _______? | | | |
HMO (Health Maintenance Organization) Plan
| | | |
Contributions made by an employee to a qualified retirement plan are required
| | | | | | | | | | | |
to be ______?
| |
subject to a vesting schedule
| | | |
,Under which circumstance can an insurance company offer group Health
| | | | | | | | | |
insurance?
The sponsoring group provides an employer-employee relationship
| | | | | |
Which reinsurance contract between two insurers involves an automatic sharing
| | | | | | | | | |
of the risks assumed?
| | |
Treaty Reinsurance
|
Health Maintenance Organization (HMO) wellness programs may include each of
| | | | | | | | | |
the following EXCEPT ________?
| | |
Diagnostic testing services | |
Which of these is NOT an Unfair Claims Settlement Practice?
| | | | | | | | |
Refusing to pay persons bringing false or fraudulent claims
| | | | | | | |
Which of these statements regarding a managing general agent is NOT true?
| | | | | | | | | | |
A managing general agent generally represents the insured
| | | | | | |
, The premiums paid by an employer for his employee's group life insurance are
| | | | | | | | | | | | |
usually considered to be ______?
| | | |
tax deductible to the employer
| | | |
Which of the following describes coverage for the Medicare Part B coinsurance?
| | | | | | | | | | |
A medicare supplement core benefit
| | | |
Which of the following can be defined as a cause of a loss?
| | | | | | | | | | | |
Peril
An insurance policy may be issued with a preferred insurance premium in all of
| | | | | | | | | | | | | |
these situations EXCEPT ______?
| | |
living in a rural area
| | | |
Which situation would not require the insured's consent when a life insurance
| | | | | | | | | | | |
policy is issued?| |
a policy is purchased by a parent for a minor child
| | | | | | | | | |
Questions With Complete Solutions
How are monthly life annuity benefit payments treated under a tax sheltered
| | | | | | | | | | | |
annuity (TSA)? |
taxed as ordinary income in the year received
| | | | | | |
Life Insurance replacement can be best defined as _______?
| | | | | | | |
a transaction in which a new life insurance policy is purchased and an existing life
| | | | | | | | | | | | | | |
insurance policy is surrendered | | |
According the the affordable care act (ACA), dependent children may remain on
| | | | | | | | | | | |
their parent's plan until what age?
| | | | |
26
Long-term care insurance provides ______?
| | | |
one or more diagnostic, preventive, therapeutic, rehabilitative, maintenance, or
| | | | | | | | |
personal care services in a setting other than an acute care unit of a hospital
| | | | | | | | | | | | | |
,Reductions is coverage are one feature of ____ in Health Insurance policies?
| | | | | | | | | | |
cost containment (one feature)
| | |
If group Health benefit levels are too high, what could be the end result?
| | | | | | | | | | | | |
Overutilization of the plan | | |
Rick is a disabled worker receiving Social Security benefits. What benefits are his
| | | | | | | | | | | | |
wife and dependent children eligible for?
| | | | |
An income benefit which is a percentage of his primary insurance amount
| | | | | | | | | | |
An accident and health plan that typically covers ONLY the services of approved
| | | | | | | | | | | | |
providers is called a(n) _______? | | | |
HMO (Health Maintenance Organization) Plan
| | | |
Contributions made by an employee to a qualified retirement plan are required
| | | | | | | | | | | |
to be ______?
| |
subject to a vesting schedule
| | | |
,Under which circumstance can an insurance company offer group Health
| | | | | | | | | |
insurance?
The sponsoring group provides an employer-employee relationship
| | | | | |
Which reinsurance contract between two insurers involves an automatic sharing
| | | | | | | | | |
of the risks assumed?
| | |
Treaty Reinsurance
|
Health Maintenance Organization (HMO) wellness programs may include each of
| | | | | | | | | |
the following EXCEPT ________?
| | |
Diagnostic testing services | |
Which of these is NOT an Unfair Claims Settlement Practice?
| | | | | | | | |
Refusing to pay persons bringing false or fraudulent claims
| | | | | | | |
Which of these statements regarding a managing general agent is NOT true?
| | | | | | | | | | |
A managing general agent generally represents the insured
| | | | | | |
, The premiums paid by an employer for his employee's group life insurance are
| | | | | | | | | | | | |
usually considered to be ______?
| | | |
tax deductible to the employer
| | | |
Which of the following describes coverage for the Medicare Part B coinsurance?
| | | | | | | | | | |
A medicare supplement core benefit
| | | |
Which of the following can be defined as a cause of a loss?
| | | | | | | | | | | |
Peril
An insurance policy may be issued with a preferred insurance premium in all of
| | | | | | | | | | | | | |
these situations EXCEPT ______?
| | |
living in a rural area
| | | |
Which situation would not require the insured's consent when a life insurance
| | | | | | | | | | | |
policy is issued?| |
a policy is purchased by a parent for a minor child
| | | | | | | | | |
