Idaho Life and Health Final Exam
What are the benefits that must be provided by an individual health insurance policy for
prenatal, maternity, and delivery expenses? - correct answer-Prenatal, maternity, and
delivery expenses are required to be covered under all health plans subject to the same
deductible and coinsurance as other medical and surgical expenses.
Which situation would qualify an individual for receiving benefits from a qualified long-term
care policy? - correct answer-Becoming cognitively impaired (mentally ill)
How many days is the grace period for payment of premiums in individual life insurance
policies? - correct answer-30
According to the Idaho Insurance Code, which of the following MUSt a producer do when
replacing a Life Insurance policy? - correct answer-Submit to the replacing insurer a list of all
Life Insurance policies or annuity contracts proposed to be replaced.
A hospital or medical expenses policy will typically cover dental treatment expenses under
which circumstance? - correct answer-Dental treatment is needed to repair an injury.
An insured and the policy's beneficiary die from the same accident. The common disaster
provision states the insurer will continue as if - correct answer-The insured outlived the
beneficiary.
A closed network plan offers a primary physical copay of $25. If a subscriber chooses a
primary care physician outside of the network, the subscriber will likely pay - correct
answer-100% of the allowed amount.
In what part of an insurance policy are policy benefits found? - correct answer-Declarations.
The Declaration page is like a quick guide to in insurance policy, providing all of the basic
information the policy holder needs to know.
Which of the following is NOT included in an entire contract provision? - correct
answer-Changes made by the producer.
A producer's fiduciary responsibility includes which of the following activities? - correct
answer-Being responsible for all funds collected from clients.
Which part of the following does Medicare Part D cover? - correct answer-Prescription
drugs.
Which of the following would be considered an underwriting duty of an agent? - correct
answer-Completing all applications and collecting initial premiums.
Which of the following is not considered advertising? - correct answer-A rating from a rating
service such as A.M Best.
, All of these statements concerning whole life insurance are false EXCEPT - correct
answer-When a whole life policy is surrendered, income taxes may be owed.
All of the following occurrences may result in license revocation EXCEPT - correct
answer-Producing an inadequate amount of new premium.
Which of the following nursing home options would best suit an individual who needs some
nursing care and supervision but not full-time care? - correct answer-Assisted living facilities.
Which of these statements regarding the annuitant is CORRECT? - correct answer-The
annuitant's life expectancy determines the annuity payments.
A temporary producer license can be issues in any of the following circumstances EXCEPT -
correct answer-A prospective producer who is enrolled in an insurance pre-license class.
All of the following statements requiring the reinstatement of a life insurance policy are
correct EXCEPT? - correct answer-A policy may be reinstated without proof of insurability.
Sole proprietors are permitted tax deductions for health costs paid from their earnings in the
amount of - correct answer-Costs that exceed 7 1/2 % of AGI.
Key Person Disability Insurance pays benefits to the - correct answer-employer; provides
crucial benefits to protect the company financially if a key employee becomes
disabled;Employer is the policy owner and pays premiums that are not tax deductible;
Benefits are tax-free to employer.
What is the minimum number of hours required for an employee to be eligible for small
group coverage? - correct answer-30
Which of the following is not part of an insurance contract?
Policy, Application, Riders, or Certificate of Authority - correct answer-Certificate of Authority.
Under long-term care insurance, which of the following MUST an insurer offer to each
policyowner at the time of purchase? - correct answer-An inflation protection feature.
An applicant's character and personal habits can be obtained for underwriting purposes from
which source? - correct answer-Investigative consumer report.
A disability policy owner is injured and becomes totally disabled. The benefits pay for 2
years, starting from the date of the injury. What is this time period called? - correct
answer-Benefit period.
What will the beneficiary receive if an annuitant dies during the accumulation period? -
correct answer-The greater of the accumulated cash value or the total premium paid.
What are the benefits that must be provided by an individual health insurance policy for
prenatal, maternity, and delivery expenses? - correct answer-Prenatal, maternity, and
delivery expenses are required to be covered under all health plans subject to the same
deductible and coinsurance as other medical and surgical expenses.
Which situation would qualify an individual for receiving benefits from a qualified long-term
care policy? - correct answer-Becoming cognitively impaired (mentally ill)
How many days is the grace period for payment of premiums in individual life insurance
policies? - correct answer-30
According to the Idaho Insurance Code, which of the following MUSt a producer do when
replacing a Life Insurance policy? - correct answer-Submit to the replacing insurer a list of all
Life Insurance policies or annuity contracts proposed to be replaced.
A hospital or medical expenses policy will typically cover dental treatment expenses under
which circumstance? - correct answer-Dental treatment is needed to repair an injury.
An insured and the policy's beneficiary die from the same accident. The common disaster
provision states the insurer will continue as if - correct answer-The insured outlived the
beneficiary.
A closed network plan offers a primary physical copay of $25. If a subscriber chooses a
primary care physician outside of the network, the subscriber will likely pay - correct
answer-100% of the allowed amount.
In what part of an insurance policy are policy benefits found? - correct answer-Declarations.
The Declaration page is like a quick guide to in insurance policy, providing all of the basic
information the policy holder needs to know.
Which of the following is NOT included in an entire contract provision? - correct
answer-Changes made by the producer.
A producer's fiduciary responsibility includes which of the following activities? - correct
answer-Being responsible for all funds collected from clients.
Which part of the following does Medicare Part D cover? - correct answer-Prescription
drugs.
Which of the following would be considered an underwriting duty of an agent? - correct
answer-Completing all applications and collecting initial premiums.
Which of the following is not considered advertising? - correct answer-A rating from a rating
service such as A.M Best.
, All of these statements concerning whole life insurance are false EXCEPT - correct
answer-When a whole life policy is surrendered, income taxes may be owed.
All of the following occurrences may result in license revocation EXCEPT - correct
answer-Producing an inadequate amount of new premium.
Which of the following nursing home options would best suit an individual who needs some
nursing care and supervision but not full-time care? - correct answer-Assisted living facilities.
Which of these statements regarding the annuitant is CORRECT? - correct answer-The
annuitant's life expectancy determines the annuity payments.
A temporary producer license can be issues in any of the following circumstances EXCEPT -
correct answer-A prospective producer who is enrolled in an insurance pre-license class.
All of the following statements requiring the reinstatement of a life insurance policy are
correct EXCEPT? - correct answer-A policy may be reinstated without proof of insurability.
Sole proprietors are permitted tax deductions for health costs paid from their earnings in the
amount of - correct answer-Costs that exceed 7 1/2 % of AGI.
Key Person Disability Insurance pays benefits to the - correct answer-employer; provides
crucial benefits to protect the company financially if a key employee becomes
disabled;Employer is the policy owner and pays premiums that are not tax deductible;
Benefits are tax-free to employer.
What is the minimum number of hours required for an employee to be eligible for small
group coverage? - correct answer-30
Which of the following is not part of an insurance contract?
Policy, Application, Riders, or Certificate of Authority - correct answer-Certificate of Authority.
Under long-term care insurance, which of the following MUST an insurer offer to each
policyowner at the time of purchase? - correct answer-An inflation protection feature.
An applicant's character and personal habits can be obtained for underwriting purposes from
which source? - correct answer-Investigative consumer report.
A disability policy owner is injured and becomes totally disabled. The benefits pay for 2
years, starting from the date of the injury. What is this time period called? - correct
answer-Benefit period.
What will the beneficiary receive if an annuitant dies during the accumulation period? -
correct answer-The greater of the accumulated cash value or the total premium paid.
