PSI life, accident, and health EXAM Questions &
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Terms in this set (75)
How long after being entitled to 2 years
disability benefits will an individual
be eligible to receive Medicare
benefits?
A. immediately
B. 1 year
C. 2 years
D. At age 65
What is the return of premium an increasing amount of term insurance that
rider? always equals the total of premiums paid up to
A. an increasing amount of term the current point
insurance that always equals the
total of premiums paid up to the
current point
B. a provision that allows the
insured to cancel the policy in the
first two years and have premiums
refunded
C. an increasing amount of term
insurance that equals the cash value
of the policy at any point in time
D. a provision that states the insurer
must return any premiums paid
during the free-look period
,In a home healthcare benefit, all of blood transfusions
the following are eligible expenses
EXCEPT
A. intermittent part-time nursing
care;
B. physical, occupational, or speech
therapy;
C. blood transfusions
D. medical social services;
All of the following are non-nicotine
classifications of risk EXCEPT
A. substandard
B. preferred
C. declined
D. non-nicotine
Which of the following is exempted fraudulent misstatements
from the incontestability provision
in insurance policies?
A. fraudulent misstatements
B. pre-existing conditions
C. change in health
D. changes in the insurance code
A group conversion option may be a life-changing event, such as marriage, divorce,
used in all the following instances or childbirth.
EXCEPT
A. the termination of the master
policy.
B. loss of coverage due to loss of
employment.
C. loss of eligibility on the part of a
class of insureds.
D. a life-changing event, such as
marriage, divorce, or childbirth.
, Which of the following is plan does not meet federal guidelines for tax
characteristic of a non-qualified benefits
plan?
A. defined vesting schedule
B. plan established by the employer
C. plan does not meet federal
guidelines for tax benefits
D. employer contributions are
deductible business expenses
What does it mean if a health policy Insurer may elect NOT to renew only under
is conditionally renewable? conditions specified in the policy.
A. Insurer may elect NOT to renew
based on the health of the insured.
B. Insurer may elect NOT to renew
for any reason only on the policy
anniversary or premium due date.
C. Insurer may elect NOT to renew
only under conditions specified in
the policy.
D. Insurer may elect NOT to review
if the insured exceeds the maximum
number of claims.
Which of the following is TRUE of It has a guaranteed minimum interest rate
an equity-indexed annuity?
A. It is a variable annuity.
B. It may decrease in value.
C. It requires a securities license to
sell.
D. It has a guaranteed minimum
interest rate.
Answers | 100% Verified solutions | Latest!!
Save
Terms in this set (75)
How long after being entitled to 2 years
disability benefits will an individual
be eligible to receive Medicare
benefits?
A. immediately
B. 1 year
C. 2 years
D. At age 65
What is the return of premium an increasing amount of term insurance that
rider? always equals the total of premiums paid up to
A. an increasing amount of term the current point
insurance that always equals the
total of premiums paid up to the
current point
B. a provision that allows the
insured to cancel the policy in the
first two years and have premiums
refunded
C. an increasing amount of term
insurance that equals the cash value
of the policy at any point in time
D. a provision that states the insurer
must return any premiums paid
during the free-look period
,In a home healthcare benefit, all of blood transfusions
the following are eligible expenses
EXCEPT
A. intermittent part-time nursing
care;
B. physical, occupational, or speech
therapy;
C. blood transfusions
D. medical social services;
All of the following are non-nicotine
classifications of risk EXCEPT
A. substandard
B. preferred
C. declined
D. non-nicotine
Which of the following is exempted fraudulent misstatements
from the incontestability provision
in insurance policies?
A. fraudulent misstatements
B. pre-existing conditions
C. change in health
D. changes in the insurance code
A group conversion option may be a life-changing event, such as marriage, divorce,
used in all the following instances or childbirth.
EXCEPT
A. the termination of the master
policy.
B. loss of coverage due to loss of
employment.
C. loss of eligibility on the part of a
class of insureds.
D. a life-changing event, such as
marriage, divorce, or childbirth.
, Which of the following is plan does not meet federal guidelines for tax
characteristic of a non-qualified benefits
plan?
A. defined vesting schedule
B. plan established by the employer
C. plan does not meet federal
guidelines for tax benefits
D. employer contributions are
deductible business expenses
What does it mean if a health policy Insurer may elect NOT to renew only under
is conditionally renewable? conditions specified in the policy.
A. Insurer may elect NOT to renew
based on the health of the insured.
B. Insurer may elect NOT to renew
for any reason only on the policy
anniversary or premium due date.
C. Insurer may elect NOT to renew
only under conditions specified in
the policy.
D. Insurer may elect NOT to review
if the insured exceeds the maximum
number of claims.
Which of the following is TRUE of It has a guaranteed minimum interest rate
an equity-indexed annuity?
A. It is a variable annuity.
B. It may decrease in value.
C. It requires a securities license to
sell.
D. It has a guaranteed minimum
interest rate.
