Montana life and health final exam questions and answers

Montana life and health final exam questions and answers Which of the following is true about most blue cross blue shield organizations? - Answer- They are non profit organizations Which of the following is not included in hospitalization expense coverage - Answer- Surgical fees A policy of adhesion may only be modified by who? - Answer- The insurance company Which of the following is not included in an annuity contract? - Answer- AD&D rider An insurer must provide an insured with claim forms within __ days after receiving notice of a loss. - Answer- 15 Credit life insurance must be sold as? - Answer- Term life Cash value loans may charge a maximum interest of? - Answer- 8% The premium charges for limited lines credit insurance is excessive if the insurer does not pay out at least ? Of premiums earned - Answer- 50% A certificate of ? Is required to become a third party administrator - Answer- Registration In Montana the minimum age for purchasing insurance is? - Answer- 15 A ? Insurer is one permitted to do business in Montana - Answer- Authorized Producers must report insurance fraud to the commissioner within ? Days - Answer- 60 How long is a temporary license in effect for? - Answer- 90 days The provision that defines to whom the insurer will pay benefits to is called? - Answer- Payment of claims A ? Life policy offers the owner investments in products such as money market funds, long term bonds, and equities - Answer- Variable The amount of monthly disability benefits payable under social security is affected by which of the following factors? - Answer- Amount of the benefits available from other sources Which settlement option pays a stated amount to an annuitant but no residual value to a beneficiary? - Answer- Life income What does an authorized insurer require? - Answer- Certificate of authority What type of rider would be added to an accident and health policy if the policy owner wants to ensure the policy will continue if he/she ever becomes totally disabled? - Answer- Waiver of premium rider The provision in a group health policy that allows the insurer to postpone coverage for a covered illness 30 days after the policy's effective date is referred to as ? - Answer- Waiting period