Idaho Life and Health Final UPDATED
Exam Questions and CORRECT Answers
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.
Exam Questions and CORRECT Answers
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.
