Arkansas Health insurance exam Study Questions and Answers 2024 100% Correct

Arkansas Health insurance exam Study Questions and Answers 2024 100% Correct If an agent makes a correction on the application for health insurance, who must initial the correct answer? - CORRECT ANSWER-The applicant What is the term used for a written request for an insurer to issue an insurance contract based on the provided information? - CORRECT ANSWER-Application What information are the members of the Medical Information Bureau required to report? - CORRECT ANSWER-Adverse medical information about the applicants or insured. When should an agent obtain a Statement of Good Health from the insured? - CORRECT ANSWER-When the premium was paid upon policy delivery and not the time of application. What is the entire contract in health insurance underwriting? - CORRECT ANSWERThe application and policy issued. What entities make up the Medical Information Bureau? - CORRECT ANSWERInsurers What is the best way to make a change on an application for insurance? - CORRECT ANSWER-Start over with a fresh application In health insurance, the policy itself and the insurance application form what? - CORRECT ANSWER-The entire contract If an insurer decides to obtain medical information from different sources in order to determine the insurability of an applicant, who must be notified of the investigation? - CORRECT ANSWER-The applicant Who must sign a health insurance application? - CORRECT ANSWER-The policyowner, the insured (if different), and the agent If an underwriter requires extensive information about the applicant's medical history, what report will best serve this purpose? - CORRECT ANSWER-Attending Physicians statement Who is responsible for paying the cost of a medical examination required in the process of underwriting? - CORRECT ANSWER-Insurer Whose responsibility is it to inform an applicant for health insurance about the insurer's information gathering practices? - CORRECT ANSWER-The agent What type of hospital policy pays a fixed amount each day that the insured is in the hospital? - CORRECT ANSWER-Hospital indemnity What is the term for a period of time immediately following a disability during which benefits are not payable? - CORRECT ANSWER-Elimination period What is the primary purpose of disability income insurance? - CORRECT ANSWER-To replace income lost due to a disability Who are the parties in a group health contract? - CORRECT ANSWER-The employer and the insurer