EXAMFX LIFE AND HEALTH EXAM WITH
COMPLETE ANSWERS { GRADED A+}
Subrogation - ✔✔the transfer of an insured's right to seek damages from a
negligent party to the insurer is found in which of the following clauses?
control health insurance claims expenses - ✔✔the purpose of managed care health
insurance is to
the insurance through his company is primary - ✔✔a man works for company A
and his wife works for company B. The spouses are covered by health plans
through their respective companies that also cover the other spouse. If the husband
files a claim
a permanent resident lawfully present in the U.S. - ✔✔which of the following
individuals will be eligible for coverage on the Health Insurance Marketplace?
present earnings and earnings prior to disability - ✔✔which of the following are
the main factors taken into account when calculating residual disability benefits
,100% - ✔✔S is a sole business proprietor who owns a medical expense plan. what
percentage of the cost of the plan may he deduct?
pregnancy will be covered immidiately - ✔✔A woman obtains health coverage
through the Marketplace on October 1. Two weeks later she finds out that she is 3
months pregnant. Which of the following is true about coverage for pregnancy?
Payment is limited to a certain period of time - ✔✔which of the following applies
to partial disability benefits
when the expenses exceed a certain percentage of the insured's adjusted gross
income - ✔✔when may an insured deduct unreimbursed medical expenses paid
under a long term care policy
occupational - ✔✔an insured has health insurance that covers them at work and at
home. this policy has written on what basis?
Work-related disability - ✔✔workers compensation insurance covers a worker's
medical expenses resulting from work related sickness or injuries and covers loss
of income from
this is a form of insurance that covers part time workers - ✔✔Which of the
following is NOT true regarding partial disability?
, 10% - ✔✔individuals who itemize deductions can claim deductions for medical
expenses not covered by health insurance that exceed what percent of their
adjusted gross income?
the policyowner has the right to change beneficiaries in any case - ✔✔which of
the following statements regarding the Change of beneficiaries provision is false?
No tax - ✔✔in an individual long-term care insurance plan, the insured is able to
deduct the premiums from taxes. What income taxation will be imposed on the
benefits received?
Employee benefits are tax deductible the year in which they were received -
✔✔Concerning group medical and dental insurance, which of the following
statements in INCORRECT?
100% - ✔✔for group medical and dental expense insurance, what percentage of
premium paid by the employer is deductible as a business expense?
premiums are not tax deductible, and benefits are not taxable - ✔✔which of the
following describes taxation of individual disability income insurance premiums
and benefits?
COMPLETE ANSWERS { GRADED A+}
Subrogation - ✔✔the transfer of an insured's right to seek damages from a
negligent party to the insurer is found in which of the following clauses?
control health insurance claims expenses - ✔✔the purpose of managed care health
insurance is to
the insurance through his company is primary - ✔✔a man works for company A
and his wife works for company B. The spouses are covered by health plans
through their respective companies that also cover the other spouse. If the husband
files a claim
a permanent resident lawfully present in the U.S. - ✔✔which of the following
individuals will be eligible for coverage on the Health Insurance Marketplace?
present earnings and earnings prior to disability - ✔✔which of the following are
the main factors taken into account when calculating residual disability benefits
,100% - ✔✔S is a sole business proprietor who owns a medical expense plan. what
percentage of the cost of the plan may he deduct?
pregnancy will be covered immidiately - ✔✔A woman obtains health coverage
through the Marketplace on October 1. Two weeks later she finds out that she is 3
months pregnant. Which of the following is true about coverage for pregnancy?
Payment is limited to a certain period of time - ✔✔which of the following applies
to partial disability benefits
when the expenses exceed a certain percentage of the insured's adjusted gross
income - ✔✔when may an insured deduct unreimbursed medical expenses paid
under a long term care policy
occupational - ✔✔an insured has health insurance that covers them at work and at
home. this policy has written on what basis?
Work-related disability - ✔✔workers compensation insurance covers a worker's
medical expenses resulting from work related sickness or injuries and covers loss
of income from
this is a form of insurance that covers part time workers - ✔✔Which of the
following is NOT true regarding partial disability?
, 10% - ✔✔individuals who itemize deductions can claim deductions for medical
expenses not covered by health insurance that exceed what percent of their
adjusted gross income?
the policyowner has the right to change beneficiaries in any case - ✔✔which of
the following statements regarding the Change of beneficiaries provision is false?
No tax - ✔✔in an individual long-term care insurance plan, the insured is able to
deduct the premiums from taxes. What income taxation will be imposed on the
benefits received?
Employee benefits are tax deductible the year in which they were received -
✔✔Concerning group medical and dental insurance, which of the following
statements in INCORRECT?
100% - ✔✔for group medical and dental expense insurance, what percentage of
premium paid by the employer is deductible as a business expense?
premiums are not tax deductible, and benefits are not taxable - ✔✔which of the
following describes taxation of individual disability income insurance premiums
and benefits?
