UTAH PRODUCER LIFE AND HEALTH
INSURANCE EXAM 2020/2024 WITH 200
QUESTIONS AND 100% CORRECT ANSWERS
GRADED A+
What happens when an insurance policy is backdated? - ANSWER-The policy's
effective date is earlier than the present
Standard Exclusions found in a life insurance policies - ANSWER-Hazardous
occupations
Aviation
War
Which annuity payout option makes no additional payments regardless of when the
annuitant dies? - ANSWER-Life only
In an employer-sponsored contributory group Disability Income plan, the employer
pays 60% of the premium and each employee pays 40% of the premium. Any
income benefits paid are taxed to the employee at - ANSWER-60% of the benefit
Before using an assumed name in the state of Utah, a producre must notify -
ANSWER-the Commisioner
Under group health insurance, a certificate of coverage is issued to the -
ANSWER-employee
In an immediate annuity with a single premium, the annuitant typical recieves
benefi payments within - ANSWER-1 month
,What is it called when the provider is paid for each service given in a health care
plan? - ANSWER-fee-for-service
When determining whether a pre-existing health condition applies to a new
company group health plan, you cannot have more than a ___ day gap without
previous health insurance? - ANSWER-63 days
An applicant's character and personal habits can be obtained for underwriting
purposes from which source? - ANSWER-Investigative consumer report
What would be a valid reason why a policy premium woud be higher than the
standard premium? - ANSWER-The insured does not meet established
underwriting requirements
Low frequency diseases can be exclusively covered by what kind of health
insurance policies? - ANSWER-Limited policies
If an insured dies during the grace period with no premiums paid - ANSWER-the
policy would be payable, minus the premium amount
Loans obtained by a policyowner against the cash value of a life insurance policy -
ANSWER-are treated as taxable income
all long-term care policies are - ANSWER-guaranteed renewable
What is not allowed for an insurance company on a health policy that contains a
guaranteed renewable premium benefit? - ANSWER-Increase the premiums on an
individual basis
, What does Medicare part D cover - ANSWER-prescription drugs
The power given to an individual producer that is not specifically addressed in
his/her contract is considered what type of authority? - ANSWER-Implied
The gatekeeper's role when used by an HMO is - ANSWER-obtaining referrals to
specialists from primary care physicians
What is considered to be a point of serivice (POS) plan? - ANSWER-Managed
care plan
False advertising would include - ANSWER-An insurer exaggerating its dividends
At what point may a producer sell insurance for an insurer - ANSWER-after being
properly appointed by the insurer
Insurable interest does not occur in this relationship - ANSWER-Business owner to
client
What is the purpose for having an accelarated death benefit on a life insurance
policy? - ANSWER-it allows for cash advances to be paid against the death benefit
if the insured becomes terminally ill
In order for a contract to be valid it must - ANSWER-contain an offer and
acceptance
INSURANCE EXAM 2020/2024 WITH 200
QUESTIONS AND 100% CORRECT ANSWERS
GRADED A+
What happens when an insurance policy is backdated? - ANSWER-The policy's
effective date is earlier than the present
Standard Exclusions found in a life insurance policies - ANSWER-Hazardous
occupations
Aviation
War
Which annuity payout option makes no additional payments regardless of when the
annuitant dies? - ANSWER-Life only
In an employer-sponsored contributory group Disability Income plan, the employer
pays 60% of the premium and each employee pays 40% of the premium. Any
income benefits paid are taxed to the employee at - ANSWER-60% of the benefit
Before using an assumed name in the state of Utah, a producre must notify -
ANSWER-the Commisioner
Under group health insurance, a certificate of coverage is issued to the -
ANSWER-employee
In an immediate annuity with a single premium, the annuitant typical recieves
benefi payments within - ANSWER-1 month
,What is it called when the provider is paid for each service given in a health care
plan? - ANSWER-fee-for-service
When determining whether a pre-existing health condition applies to a new
company group health plan, you cannot have more than a ___ day gap without
previous health insurance? - ANSWER-63 days
An applicant's character and personal habits can be obtained for underwriting
purposes from which source? - ANSWER-Investigative consumer report
What would be a valid reason why a policy premium woud be higher than the
standard premium? - ANSWER-The insured does not meet established
underwriting requirements
Low frequency diseases can be exclusively covered by what kind of health
insurance policies? - ANSWER-Limited policies
If an insured dies during the grace period with no premiums paid - ANSWER-the
policy would be payable, minus the premium amount
Loans obtained by a policyowner against the cash value of a life insurance policy -
ANSWER-are treated as taxable income
all long-term care policies are - ANSWER-guaranteed renewable
What is not allowed for an insurance company on a health policy that contains a
guaranteed renewable premium benefit? - ANSWER-Increase the premiums on an
individual basis
, What does Medicare part D cover - ANSWER-prescription drugs
The power given to an individual producer that is not specifically addressed in
his/her contract is considered what type of authority? - ANSWER-Implied
The gatekeeper's role when used by an HMO is - ANSWER-obtaining referrals to
specialists from primary care physicians
What is considered to be a point of serivice (POS) plan? - ANSWER-Managed
care plan
False advertising would include - ANSWER-An insurer exaggerating its dividends
At what point may a producer sell insurance for an insurer - ANSWER-after being
properly appointed by the insurer
Insurable interest does not occur in this relationship - ANSWER-Business owner to
client
What is the purpose for having an accelarated death benefit on a life insurance
policy? - ANSWER-it allows for cash advances to be paid against the death benefit
if the insured becomes terminally ill
In order for a contract to be valid it must - ANSWER-contain an offer and
acceptance
