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Illinois Accident and Health Insurance Exam TEST FINAL EXAM
AND PRACTICE EXAM 20262027 BANK 2 VERSIONS
QUESTIONS WITH DETAILED VERIFIED ANSWERS EXAM
QUESTIONS WILL COME FROM HERE (100% CORRECT
ANSWERS A+ GRADED
Short Term Disability - ANSWERS--Elimination period of 1 to 7 days.
Benefits could start in two weeks and continue for 2 years. Most
popular payment period is 26 weeks of benefits. Must be completely
disabled. Can be flat amount or limited to 50-70% of gross weekly
income.
Long Term Disability - ANSWERS--Provides benefits after Short Term
Disability ends. Can be as short as 2 years or go until age 65.
Key Employee Policies - ANSWERS--Covers the cost of providing a
paycheck to a disabled employee. Frees up money to hire a
replacement.
Accidental Death and Dismemberment - ANSWERS--Insured dies or is
dismembered as a result of an accident. Severance through or above
the wrist or ankle. Benefits are payable in the form of a principle sum
and a capital sum.
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Basic Hospital - ANSWERS--Provides first dollar coverage for daily room
and board for a maximum period of time and dollar amount. (i.e. $500
per day, up to 30 days.)
Covered by Basic Hospital - ANSWERS---Diagnostic Xray/Lab fees
-Radiology therapy
-In-patient Doctor Treatments
-Ambulance Service
Miscellaneous Expense Benefit - ANSWERS---Operating room
-Lab fees
-Drugs (Over the counter only)
-Anesthetics
-Dressings
Surgical Expenses - ANSWERS---Surgeon fees
-Anesthetist
-Post-operative care
Major Medical - ANSWERS---Private Duty Nursing
-Convalescent nursing home care
-Rental of special medical equipment
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-Out of hospital prescription medication
-Higher policy limits
-Preventative care
Major Medical Payment - ANSWERS---Deductible called a corridor
-80/20 coinsurance
Period of Time Contract - ANSWERS--Policy terminates at the end of the
policy term (1-12 months)
Comprehensive Major Medical - ANSWERS--Most commonly issued in a
group basis. Provides same coverage as basic and major medical but
usually adds dental and vision coverage. Provides a stop-loss provision.
Health Maintenance Organization (HMO) - ANSWERS--Primary care
physician. Pre-paid fixed amount for each enrollee. Must see PCP once
a year. Required to get a referral from PCP to see a specialist.
Covers:
-Emergency care
-Inpatient care
-Physician care
-Mental health services
-Alcohol/drug abuse
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-Preventative care
Cannot exclude a pre existing condition for more than one year from
the effective date of coverage.
Elimination Period - ANSWERS--Period of time immediately following
the start of disability, when benefits are not paid. Longer elimination
period = cheaper premiums.
Total Disability - ANSWERS--Unable to perform any gainful employment
that the person would qualify because of education, training or
experience. Unable to perform any key job skills.
Partial Disability - ANSWERS--Able to perform some aspects of the job,
but not all of them. (i.e. surgeon loses a hand. cannot perform surgery
but can still be a physician.)
Residual Benefits - ANSWERS--Based on the proportion of income the
insured actually lost, taking into account the fact that the insured is
able to earn some income but not to the level prior to disability.
Recurrent - ANSWERS--If an insured suffers a second disability within a
specified period of time, usually 6 months, it is considered to be a
continuation of the initial disability.
Illinois Accident and Health Insurance Exam TEST FINAL EXAM
AND PRACTICE EXAM 20262027 BANK 2 VERSIONS
QUESTIONS WITH DETAILED VERIFIED ANSWERS EXAM
QUESTIONS WILL COME FROM HERE (100% CORRECT
ANSWERS A+ GRADED
Short Term Disability - ANSWERS--Elimination period of 1 to 7 days.
Benefits could start in two weeks and continue for 2 years. Most
popular payment period is 26 weeks of benefits. Must be completely
disabled. Can be flat amount or limited to 50-70% of gross weekly
income.
Long Term Disability - ANSWERS--Provides benefits after Short Term
Disability ends. Can be as short as 2 years or go until age 65.
Key Employee Policies - ANSWERS--Covers the cost of providing a
paycheck to a disabled employee. Frees up money to hire a
replacement.
Accidental Death and Dismemberment - ANSWERS--Insured dies or is
dismembered as a result of an accident. Severance through or above
the wrist or ankle. Benefits are payable in the form of a principle sum
and a capital sum.
,2|Page
Basic Hospital - ANSWERS--Provides first dollar coverage for daily room
and board for a maximum period of time and dollar amount. (i.e. $500
per day, up to 30 days.)
Covered by Basic Hospital - ANSWERS---Diagnostic Xray/Lab fees
-Radiology therapy
-In-patient Doctor Treatments
-Ambulance Service
Miscellaneous Expense Benefit - ANSWERS---Operating room
-Lab fees
-Drugs (Over the counter only)
-Anesthetics
-Dressings
Surgical Expenses - ANSWERS---Surgeon fees
-Anesthetist
-Post-operative care
Major Medical - ANSWERS---Private Duty Nursing
-Convalescent nursing home care
-Rental of special medical equipment
,3|Page
-Out of hospital prescription medication
-Higher policy limits
-Preventative care
Major Medical Payment - ANSWERS---Deductible called a corridor
-80/20 coinsurance
Period of Time Contract - ANSWERS--Policy terminates at the end of the
policy term (1-12 months)
Comprehensive Major Medical - ANSWERS--Most commonly issued in a
group basis. Provides same coverage as basic and major medical but
usually adds dental and vision coverage. Provides a stop-loss provision.
Health Maintenance Organization (HMO) - ANSWERS--Primary care
physician. Pre-paid fixed amount for each enrollee. Must see PCP once
a year. Required to get a referral from PCP to see a specialist.
Covers:
-Emergency care
-Inpatient care
-Physician care
-Mental health services
-Alcohol/drug abuse
, 4|Page
-Preventative care
Cannot exclude a pre existing condition for more than one year from
the effective date of coverage.
Elimination Period - ANSWERS--Period of time immediately following
the start of disability, when benefits are not paid. Longer elimination
period = cheaper premiums.
Total Disability - ANSWERS--Unable to perform any gainful employment
that the person would qualify because of education, training or
experience. Unable to perform any key job skills.
Partial Disability - ANSWERS--Able to perform some aspects of the job,
but not all of them. (i.e. surgeon loses a hand. cannot perform surgery
but can still be a physician.)
Residual Benefits - ANSWERS--Based on the proportion of income the
insured actually lost, taking into account the fact that the insured is
able to earn some income but not to the level prior to disability.
Recurrent - ANSWERS--If an insured suffers a second disability within a
specified period of time, usually 6 months, it is considered to be a
continuation of the initial disability.
