Accident And Health Insurance Agent Exam Questions
and Answers 2022/2023 | 100% Correct Verified Answers
H has suffered a covered disability away from her job and will shortly begin
collecting benefits. The insurer sends a letter to H stating that she will not receive
any benefit amounts greater than her income. This clause is known as:
A: Over-insurance clause
B: free look
C: relation of earning to insurance
D: relation of economic value
C: relation of earning to insurance
The insured should be aware of the issue date upon delivery a policy and the date
should be listed on:
A: the policy summary
B: the first page of the contract
C: the delivery receipt
D: upon conditional receipt
B: the first page of the contract
The policy has all of the following rights EXCEPT:
A: Right to solely renew a guaranteed renewable policy.
B: Right to terminate a policy
C: Unilateral right to renew an Optionally renewable policy
D: Right to assign a contract
C: Unilateral right to renew an Optionally renewable policy
The part of a contract that specifies which expenses may or may not be covered
is known as the:
A: Exclusion
B: Eligible Expense provision
C: Insuring Agreement
D: Consideration Clause
B: Eligible Expense provision
Which of the following is considered to be a mandatory provision in a health
policy?
A: Time Limit on Certain Defenses
B: Change of Occupation
C: Illegal Occupation
D: Intoxicant/Narcotic Usage
A: Time Limit on Certain Defenses
Which of the following may be considered an eligible expense found in a health
policy?
A: Cosmetic Surgery
B: Premium payment
C: cold cream
D: Bus fare to receive treatment for a covered loss
D: Bus fare to receive treatment for a covered loss
,K has a policy that covers doctors visits but limits the number of visits per
calendar year and pays a limited indemnification limit per visit. K has:
A: Basic Medical Expense
B: Physician Nonsurgical Coverage
C: Basic Surgical Policy
D: Basic Hospital Coverage
B: Physician Nonsurgical Coverage
All of the following are CORRECT about Medicare EXCEPT:
A: An insured who is age 30 but collecting Social Security disability for the last
two years is eligible for Medicare.
B: An insured who is age 60 and is at the end stage of renal failure is eligible for
Medicare.
C: An insured who turns age 65 and is still employed is eligible for Medicare.
D: An insured who has Medicare Part A is eligible to enroll for Medigap policies
within six months of enrolling in Part A.
D: An insured who has Medicare Part A is eligible to enroll for Medigap policies within
six months of enrolling in Part A.
Under the Claim Forms provision in an Accident and Health policy, an insurance
company must supply an insured with claim forms within a MAXIMUM of how
many days after receiving notice of the loss?
A: 10
B: 15
C: 20
D: 30
B: 15
The purpose of the Fair Credit Reporting Act is to:
A: protect the consumer from having an adverse action against them based of
obsolete credit information
B: to ensure that credit information used in underwriting is accurate and updated
C: make sure that any financial institution handles an individual's credit in a
correct, proper manner
D: All of the Above
D: All of the Above
Most Accident and Health policies require that claims must be paid _________
upon written proof of loss.
A: 30 days
B: Immediately
C: 60 days
D: 90 days
B: Immediately
A LTC policy that will only pay for ADL given occasionally by a licensed
professional is:
A: Skilled Care
B: Intermediate Care
C: Custodial Care
D: None of the Above
,C: Custodial Care
Which of the following policy provisions are optional in a individual health
policy?
A: Entire Contract
B: Change of Occupation
C: Entire Contract
D: Reinstatement
B: Change of Occupation
Which of the following elements is part of the entire contract clause?
A: The exchange of value between the parties
B: The agreement between the policyholder and insurer
C: The amount of time the insured has to send a policy back for a full refund
D: None of the Above
D: None of the Above
All of the following are true regarding Social Security disability EXCEPT:
A: A insured must wait 5 months before collecting benefits
B: To qualify an insured must be unable to do any job in the American economy
C: To qualify an insured must be disabled for a year or longer or die within a two
year period.
D: The insured must have a certain amount of Social Security credits based off
age.
C: To qualify an insured must be disabled for a year or longer or die within a two year
period.
Health Care FSA contributions are limited to _______ per year.
A: $5,000
B: $3,000
C: $2,700
D: $3,250
C: $2,700
A noncancelable policy means the company
A: may not raise the premium or terminate the policy except for nonpayment of
premium
B: may not cancel before the insured reaches age 50
C: may pay limited benefits and cannot cancel all benefits
D: can only terminate coverage if the insured switches occupations
A: may not raise the premium or terminate the policy except for nonpayment of premium
The maximum number of in-hospital days coverage provided by an individual
policy under minimum standards is:
A: 30 days
B: 45 days
C: 90 days
D: 180 days
D: 180 days
If there is a dispute on medical necessity under a HMO, there must be a system in
place for a second opinion. If the second opinion determines that a covered
service is in fact medically necessary, the HMO must provide service. The only
, way that benefits are paid for an out-of-network physician is:
A: if a referral is given
B: state law dictates when coverage out of area exists
C: if it is an emergency
D: None of the Above
A: if a referral is given
Which of the following circumstances may lead to the renewal of a producer
license without the requirement of completing continuing education
requirements?
A: There are no exceptions to the continuing education law.
B: The producer suffers a stroke and is incapable of completing any coursework.
C: The producer is called up to military duty and secures a military waiver.
D: Once a producer has been licensed for more than 30 consecutive years and is
at least 65 years of age, they are exempt from continuing education requirements.
C: The producer is called up to military duty and secures a military waiver.
Renewability of a Long Term Care policy must be at least:
A: Noncancelable
B: Guaranteed Renewable
C: Cancellable
D: A and B only
D: A and B only
Under minimum standards, the probationary waiting period for illness may not
exceed
A: 10 days
B: 20 days
C: 30 days
D: 40 days
C: 30 days
If a policy owner of a Medicare Supplement becomes eligible for Medicaid, a
supplement can be suspended for up to ______ as long as they give the insurer
notice within 90 days of being eligible for Medicaid.
A: 6 months
B: 12 months
C: 24 months
D: 36 months
C: 24 months
H has had group LTC coverage for the last 5 months. H has decided to leave his
job and find a new career. Upon leaving his group, H would like to convert his
group LTC policy to an individual plan. The insurer is most likely to:
A: deny conversion
B: allow conversion
C: allow conversion, but they may increase the premium
D: allow conversion as long as H converts within 30 days of leaving they group
A: deny conversion
If an insurance company issues deceptive statements about its assets, this action
is
and Answers 2022/2023 | 100% Correct Verified Answers
H has suffered a covered disability away from her job and will shortly begin
collecting benefits. The insurer sends a letter to H stating that she will not receive
any benefit amounts greater than her income. This clause is known as:
A: Over-insurance clause
B: free look
C: relation of earning to insurance
D: relation of economic value
C: relation of earning to insurance
The insured should be aware of the issue date upon delivery a policy and the date
should be listed on:
A: the policy summary
B: the first page of the contract
C: the delivery receipt
D: upon conditional receipt
B: the first page of the contract
The policy has all of the following rights EXCEPT:
A: Right to solely renew a guaranteed renewable policy.
B: Right to terminate a policy
C: Unilateral right to renew an Optionally renewable policy
D: Right to assign a contract
C: Unilateral right to renew an Optionally renewable policy
The part of a contract that specifies which expenses may or may not be covered
is known as the:
A: Exclusion
B: Eligible Expense provision
C: Insuring Agreement
D: Consideration Clause
B: Eligible Expense provision
Which of the following is considered to be a mandatory provision in a health
policy?
A: Time Limit on Certain Defenses
B: Change of Occupation
C: Illegal Occupation
D: Intoxicant/Narcotic Usage
A: Time Limit on Certain Defenses
Which of the following may be considered an eligible expense found in a health
policy?
A: Cosmetic Surgery
B: Premium payment
C: cold cream
D: Bus fare to receive treatment for a covered loss
D: Bus fare to receive treatment for a covered loss
,K has a policy that covers doctors visits but limits the number of visits per
calendar year and pays a limited indemnification limit per visit. K has:
A: Basic Medical Expense
B: Physician Nonsurgical Coverage
C: Basic Surgical Policy
D: Basic Hospital Coverage
B: Physician Nonsurgical Coverage
All of the following are CORRECT about Medicare EXCEPT:
A: An insured who is age 30 but collecting Social Security disability for the last
two years is eligible for Medicare.
B: An insured who is age 60 and is at the end stage of renal failure is eligible for
Medicare.
C: An insured who turns age 65 and is still employed is eligible for Medicare.
D: An insured who has Medicare Part A is eligible to enroll for Medigap policies
within six months of enrolling in Part A.
D: An insured who has Medicare Part A is eligible to enroll for Medigap policies within
six months of enrolling in Part A.
Under the Claim Forms provision in an Accident and Health policy, an insurance
company must supply an insured with claim forms within a MAXIMUM of how
many days after receiving notice of the loss?
A: 10
B: 15
C: 20
D: 30
B: 15
The purpose of the Fair Credit Reporting Act is to:
A: protect the consumer from having an adverse action against them based of
obsolete credit information
B: to ensure that credit information used in underwriting is accurate and updated
C: make sure that any financial institution handles an individual's credit in a
correct, proper manner
D: All of the Above
D: All of the Above
Most Accident and Health policies require that claims must be paid _________
upon written proof of loss.
A: 30 days
B: Immediately
C: 60 days
D: 90 days
B: Immediately
A LTC policy that will only pay for ADL given occasionally by a licensed
professional is:
A: Skilled Care
B: Intermediate Care
C: Custodial Care
D: None of the Above
,C: Custodial Care
Which of the following policy provisions are optional in a individual health
policy?
A: Entire Contract
B: Change of Occupation
C: Entire Contract
D: Reinstatement
B: Change of Occupation
Which of the following elements is part of the entire contract clause?
A: The exchange of value between the parties
B: The agreement between the policyholder and insurer
C: The amount of time the insured has to send a policy back for a full refund
D: None of the Above
D: None of the Above
All of the following are true regarding Social Security disability EXCEPT:
A: A insured must wait 5 months before collecting benefits
B: To qualify an insured must be unable to do any job in the American economy
C: To qualify an insured must be disabled for a year or longer or die within a two
year period.
D: The insured must have a certain amount of Social Security credits based off
age.
C: To qualify an insured must be disabled for a year or longer or die within a two year
period.
Health Care FSA contributions are limited to _______ per year.
A: $5,000
B: $3,000
C: $2,700
D: $3,250
C: $2,700
A noncancelable policy means the company
A: may not raise the premium or terminate the policy except for nonpayment of
premium
B: may not cancel before the insured reaches age 50
C: may pay limited benefits and cannot cancel all benefits
D: can only terminate coverage if the insured switches occupations
A: may not raise the premium or terminate the policy except for nonpayment of premium
The maximum number of in-hospital days coverage provided by an individual
policy under minimum standards is:
A: 30 days
B: 45 days
C: 90 days
D: 180 days
D: 180 days
If there is a dispute on medical necessity under a HMO, there must be a system in
place for a second opinion. If the second opinion determines that a covered
service is in fact medically necessary, the HMO must provide service. The only
, way that benefits are paid for an out-of-network physician is:
A: if a referral is given
B: state law dictates when coverage out of area exists
C: if it is an emergency
D: None of the Above
A: if a referral is given
Which of the following circumstances may lead to the renewal of a producer
license without the requirement of completing continuing education
requirements?
A: There are no exceptions to the continuing education law.
B: The producer suffers a stroke and is incapable of completing any coursework.
C: The producer is called up to military duty and secures a military waiver.
D: Once a producer has been licensed for more than 30 consecutive years and is
at least 65 years of age, they are exempt from continuing education requirements.
C: The producer is called up to military duty and secures a military waiver.
Renewability of a Long Term Care policy must be at least:
A: Noncancelable
B: Guaranteed Renewable
C: Cancellable
D: A and B only
D: A and B only
Under minimum standards, the probationary waiting period for illness may not
exceed
A: 10 days
B: 20 days
C: 30 days
D: 40 days
C: 30 days
If a policy owner of a Medicare Supplement becomes eligible for Medicaid, a
supplement can be suspended for up to ______ as long as they give the insurer
notice within 90 days of being eligible for Medicaid.
A: 6 months
B: 12 months
C: 24 months
D: 36 months
C: 24 months
H has had group LTC coverage for the last 5 months. H has decided to leave his
job and find a new career. Upon leaving his group, H would like to convert his
group LTC policy to an individual plan. The insurer is most likely to:
A: deny conversion
B: allow conversion
C: allow conversion, but they may increase the premium
D: allow conversion as long as H converts within 30 days of leaving they group
A: deny conversion
If an insurance company issues deceptive statements about its assets, this action
is
