Horace buys a Medicare supplement insurance policy but decides not to keep it. How many
days does he have to return it for a full refund of the premium? - ANSWER 30 days
Which of the following individuals is an appropriate customer for a Medicare supplement
policy? - ANSWER Someone enrolled in both Part A and Part B of Medicare
A purchased a long-term care policy on June 15. Two weeks later, she lost her job and de-
cided that she could no longer afford the policy. What are her options? - ANSWER She
can return the policy for a full refund of premium.
An insured has a LTC policy that has been in force for 3 months. In how many more months
will the policy become incontestable on the grounds of misrepresentation alone? - AN-
SWER 21 months
Which of the following is NOT true of Medicaid? - ANSWER It is funded entirely at the
federal level
Which of the following would NOT be eligible for Medicaid? - ANSWER A healthy young
person with no children and a very low income
The agent who solicits the application is primarily responsible for determining the
_____________________ of a Medicare supplement policy for a proposed insured. - AN-
SWER Appropriateness
If a Medigap policy is delivered on June 15, on what date does the free look period expire? -
ANSWER July 15
1
, Your client asks you to describe the benefit triggers of tax-qualified long-term care insurance
policies. Which of the following statements is correct? - ANSWER Benefits are triggered
by a physical impairment or a severe cognitive impairment.
When selling a long-term care insurance policy, the insurer or agent must provide the appli-
cant with all of the following EXCEPT: - ANSWER Suitability Guide
The open enrollment period for Medicare begins 3 months before your 65th birthday and -
ANSWER Lasts for 7 months
The free look period of a LTC policy must be at least how many days? - ANSWER 30
M is considered a Qualified Medicare Beneficiary (QMB) in North Carolina, which means that
Medicare-Aid will pay for all of the following EXCEPT: - ANSWER 100 percent of the Part D
prescription drug costs
For which of the following North Carolina residents will Medicare-Aid pay for their Medicare
Part B premiums only? - ANSWER V, who qualifies as a Specified Low-Income Beneficiary
(SLMB)
Which Medicare Savings Program is best designed for a worker with annual income between
120% and 135% of the federal poverty level? - ANSWER Qualifying Individual
If an insurer collected $1 million worth of premiums on a certain class of individual Medigap
policies, what amount must be returned to owners of those policies in the form of benefits?
- ANSWER $650,000
Which type of long-term care provides support to the caregiver of a person who requires
long-term care assistance? - ANSWER respite care
2
days does he have to return it for a full refund of the premium? - ANSWER 30 days
Which of the following individuals is an appropriate customer for a Medicare supplement
policy? - ANSWER Someone enrolled in both Part A and Part B of Medicare
A purchased a long-term care policy on June 15. Two weeks later, she lost her job and de-
cided that she could no longer afford the policy. What are her options? - ANSWER She
can return the policy for a full refund of premium.
An insured has a LTC policy that has been in force for 3 months. In how many more months
will the policy become incontestable on the grounds of misrepresentation alone? - AN-
SWER 21 months
Which of the following is NOT true of Medicaid? - ANSWER It is funded entirely at the
federal level
Which of the following would NOT be eligible for Medicaid? - ANSWER A healthy young
person with no children and a very low income
The agent who solicits the application is primarily responsible for determining the
_____________________ of a Medicare supplement policy for a proposed insured. - AN-
SWER Appropriateness
If a Medigap policy is delivered on June 15, on what date does the free look period expire? -
ANSWER July 15
1
, Your client asks you to describe the benefit triggers of tax-qualified long-term care insurance
policies. Which of the following statements is correct? - ANSWER Benefits are triggered
by a physical impairment or a severe cognitive impairment.
When selling a long-term care insurance policy, the insurer or agent must provide the appli-
cant with all of the following EXCEPT: - ANSWER Suitability Guide
The open enrollment period for Medicare begins 3 months before your 65th birthday and -
ANSWER Lasts for 7 months
The free look period of a LTC policy must be at least how many days? - ANSWER 30
M is considered a Qualified Medicare Beneficiary (QMB) in North Carolina, which means that
Medicare-Aid will pay for all of the following EXCEPT: - ANSWER 100 percent of the Part D
prescription drug costs
For which of the following North Carolina residents will Medicare-Aid pay for their Medicare
Part B premiums only? - ANSWER V, who qualifies as a Specified Low-Income Beneficiary
(SLMB)
Which Medicare Savings Program is best designed for a worker with annual income between
120% and 135% of the federal poverty level? - ANSWER Qualifying Individual
If an insurer collected $1 million worth of premiums on a certain class of individual Medigap
policies, what amount must be returned to owners of those policies in the form of benefits?
- ANSWER $650,000
Which type of long-term care provides support to the caregiver of a person who requires
long-term care assistance? - ANSWER respite care
2
