North Carolina Accident and Health Insurance Exam Questions and Answers with Complete Solutions

Who does an insurance broker in North Carolina Represent - Insured Which of the following does Social Security NOT provide benefits for - dismemberment K completes an application for disability policy but does not pay the initial premium. The company approves the policy standard and the agent delivers the policy. K then pays her initial premium 3 days later. At what point does k's policy take effect. - Date the initial premium is collected What is the primary factor that determines the benefits paid under a disability income policy - wages According to the time payment of claims provisions, the insurer must pay disability income benefits no less frequently than which of the following options - monthly An applicant for a nonresident agent license must meet which of the following requirements - Be licensed as an agent in the agent's state of domicile the first portion of a covered major medical insurance expense that the insured is required to pay is called the: - initial deductible what action should a producer take if the initial premium is not submitted with the application - forward the application to the insurer without the initial premium All of the following are limited benefit plans, except - life insurance policies The commissioner of insurance has the authority to examine the business records of all of the following entities except - life insurance master policy holders From what authority derives the requirement that an insurance application contains a disclosure sating that an investigative consumer report may be obtained on an applicant - Fair Credit reporting Act The difference between group insurance and blanket health policies is - Blanket health policies do not issue certificates In North Carolina, an insurer licensed to conduct business in North Carolina, but domiciled in New Jersey, is called a(n) - Foreign Company J's Major Medical policy has a 2000 deductible and an 80/20 coinsurance clause. If j is hospitalized and receives a bill for 10000, J would pay - 3600 : 2000+20% of the remaining bill G is an accountant who has ten employees and is concerned about how the business would survive financially if G became disabled. The type of policy which best addresses this concern is - Business overhead expense Medical treatment in tax supported institutions cover the cost of - all of the above (respiratory illness, alcoholism and drugs, cerebral palsy) Which of the following statements describes what an accident and health policyowner may not do - adjust the premium payments