Health Final Exam - NJ Accident and|\ |\ |\ |\ |\ |\ |\
Health QUESTIONS WITH ANSWERS |\ |\ |\
A 10% excise tax is normally applied to an early withdrawal from an
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
IRA. According to HIPAA, this tax will not be applied if the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
withdrawal is used for medical expenses that exceed ____ of the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
individual's adjusted gross income. - CORRECT ANSWERS ✔✔7.5%
|\ |\ |\ |\ |\ |\ |\
A beneficiary change can occur - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\ |\
✔✔normally at any time during the policy term
|\ |\ |\ |\ |\ |\ |\
A branch office registration form is required to be filed at least ___
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
days before selling insurance out of that branch - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔30 |\
A clause that allows that allows an insurer the right to terminate
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
coverage at any anniversary date is called a(n) - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔Optional renewability clause
|\ |\ |\
A common exclusion with Vision plans is - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
✔✔lasik surgery |\
,A disability income policy can prevent an insured from earning a
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
higher income if he/she were working by utilizing - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔Benefit limits |\ |\
A doctor who accepts Medicare assignment agrees to which of the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
following
- Doctor may charge up to a maximum of 15% more than Medicare
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
pays for the service
|\ |\ |\
- Doctor is not bound by Medicare's limitations on charges
|\ |\ |\ |\ |\ |\ |\ |\ |\
- Doctor cannot charge more than Medicare's scheduled coverage
|\ |\ |\ |\ |\ |\ |\ |\
- Doctor bills the Medicare beneficiary directly for services
|\ |\ |\ |\ |\ |\ |\ |\ |\
performed - CORRECT ANSWERS ✔✔Doctor cannot charge more
|\ |\ |\ |\ |\ |\ |\ |\
than Medicare's scheduled coverage
|\ |\ |\
A dread disease policy is considered to be a type of - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔Limited health insurance policy|\ |\ |\ |\
A health insurance policy that allows an insurer to change the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
policy owner's premiums, but NOT cancel the policy is called a(n) -
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔Guaranteed renewable policy
|\ |\ |\ |\
, A health insurance policy where the insurer has the right to
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
terminate the policy for reasons other than the insured's health is
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
called - CORRECT ANSWERS ✔✔Conditionally renewable
|\ |\ |\ |\ |\
A health insurer must be provided with written proof of loss ___
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
days after the date of loss - CORRECT ANSWERS ✔✔e
|\ |\ |\ |\ |\ |\ |\ |\ |\
A medicare supplement basic benefit is - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\ |\ |\
✔✔the first 3 pints of blood per year
|\ |\ |\ |\ |\ |\ |\
A Medicare supplement policy can be cancelled by the insurer for -
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔Nonpayment |\ |\
A newborn is required to be covered for ____ days from the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
moment of birth - CORRECT ANSWERS ✔✔30
|\ |\ |\ |\ |\ |\
A person who is a nonsmoker, of average weight, and in excellent
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
health would most likely be in which risk classification? -
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔Preferred |\ |\
A policyholder has a major medical plan with a 80%/20%
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
coinsurance and a deductible of $75. If the insured has previously
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
met her deductible and receives a bill for $175, how much will the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
insurer pay? - CORRECT ANSWERS ✔✔$140 Because the insured
|\ |\ |\ |\ |\ |\ |\ |\ |\
Health QUESTIONS WITH ANSWERS |\ |\ |\
A 10% excise tax is normally applied to an early withdrawal from an
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
IRA. According to HIPAA, this tax will not be applied if the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
withdrawal is used for medical expenses that exceed ____ of the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
individual's adjusted gross income. - CORRECT ANSWERS ✔✔7.5%
|\ |\ |\ |\ |\ |\ |\
A beneficiary change can occur - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\ |\
✔✔normally at any time during the policy term
|\ |\ |\ |\ |\ |\ |\
A branch office registration form is required to be filed at least ___
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
days before selling insurance out of that branch - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔30 |\
A clause that allows that allows an insurer the right to terminate
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
coverage at any anniversary date is called a(n) - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔Optional renewability clause
|\ |\ |\
A common exclusion with Vision plans is - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
✔✔lasik surgery |\
,A disability income policy can prevent an insured from earning a
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
higher income if he/she were working by utilizing - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔Benefit limits |\ |\
A doctor who accepts Medicare assignment agrees to which of the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
following
- Doctor may charge up to a maximum of 15% more than Medicare
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
pays for the service
|\ |\ |\
- Doctor is not bound by Medicare's limitations on charges
|\ |\ |\ |\ |\ |\ |\ |\ |\
- Doctor cannot charge more than Medicare's scheduled coverage
|\ |\ |\ |\ |\ |\ |\ |\
- Doctor bills the Medicare beneficiary directly for services
|\ |\ |\ |\ |\ |\ |\ |\ |\
performed - CORRECT ANSWERS ✔✔Doctor cannot charge more
|\ |\ |\ |\ |\ |\ |\ |\
than Medicare's scheduled coverage
|\ |\ |\
A dread disease policy is considered to be a type of - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔Limited health insurance policy|\ |\ |\ |\
A health insurance policy that allows an insurer to change the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
policy owner's premiums, but NOT cancel the policy is called a(n) -
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔Guaranteed renewable policy
|\ |\ |\ |\
, A health insurance policy where the insurer has the right to
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
terminate the policy for reasons other than the insured's health is
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
called - CORRECT ANSWERS ✔✔Conditionally renewable
|\ |\ |\ |\ |\
A health insurer must be provided with written proof of loss ___
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
days after the date of loss - CORRECT ANSWERS ✔✔e
|\ |\ |\ |\ |\ |\ |\ |\ |\
A medicare supplement basic benefit is - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\ |\ |\
✔✔the first 3 pints of blood per year
|\ |\ |\ |\ |\ |\ |\
A Medicare supplement policy can be cancelled by the insurer for -
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔Nonpayment |\ |\
A newborn is required to be covered for ____ days from the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
moment of birth - CORRECT ANSWERS ✔✔30
|\ |\ |\ |\ |\ |\
A person who is a nonsmoker, of average weight, and in excellent
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
health would most likely be in which risk classification? -
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔Preferred |\ |\
A policyholder has a major medical plan with a 80%/20%
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
coinsurance and a deductible of $75. If the insured has previously
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
met her deductible and receives a bill for $175, how much will the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
insurer pay? - CORRECT ANSWERS ✔✔$140 Because the insured
|\ |\ |\ |\ |\ |\ |\ |\ |\
