AD Banker Life & Health Exam Questions with 100% Correct
Answers.
________ is/are not considered material to the policy issuance. - Correct Answer Age
and/or gender are not considered material to the policy issuance.
One of your clients just reinstated his health insurance plane. When is coverage effective
for sickness and accident? - Correct Answer 10 days for sickness, and immediately for
accidental injuries
Jay receives an annual disability benefit of $10,000. His employer contributed 75% of the
premium. How much of Jay's benefit is subject to income tax? - Correct Answer Jay is
covered under a contributory plan in which the employer is contributing 75% of premium,
so 75% of the $10,000 benefit ($7,500) is subject to income tax
Reciprocal agreements, as defined in the Georgia Insurance Code, refers to: - Correct
Answer Agreement between the Insurance Commissioner and regulators of other states
in order to facilitate licensing of nonresident adjusters in Georgia and other states
Burt named Liz as his beneficiary; however, he did not choose a Settlement Option. At the
time of his death, who determines the option to be used to receive the benefits? - Correct
Answer If the owner of the policy does not select a Settlement Option while alive, then the
beneficiary may choose an option at the time of claim.
The bank may require its borrowers to have a life insurance policy to secure a loan in the
event of the borrower's death. Which provision gives the bank proportional protection but
not control of the policy. - Correct Answer Collateral Assignment
Similar to life insurance, this party has all rights in the annuity contract. This party is
referred to as the: - Correct Answer Owner
Which of the following causes of death is covered by an Accidental Death &
Dismemberment policy? - Correct Answer Commercial airline crash
Which of the following statements regarding certificated of authority is correct? - Correct
Answer If an insurance company refuses to be examined by the Commissioner, its
certificate of authority may be suspended or revoked
, In a Medicare Supplement replacement sale, if the original policy has been in force for
less than ________ months, the replacing insurer shall waive any time periods applicable
to preexisting conditions to the extent that they have already been satisfied under the
original policy. - Correct Answer 6
Which of the following is the correct number of days in the grace period for each premium
mode? - Correct Answer 7 days for weekly, 10 days for monthly, and 31 for all others
Mandatory uniform provisions found in health insurance policies are designed to protect
the: - Correct Answer Insured
All of the following are considered by definition to be examples of transacting insurance in
the state of Georgia, except: - Correct Answer Adjusting a claim in Georgia
Which provision is a Mandatory Uniform Provision? - Correct Answer Legal Actions
All of the following statements regarding producer appointments are true, except: -
Correct Answer Certificates of authority for subagents must be renewed biennially (should
read annually)
Albert owns a printing business in which he, at times, prints counterfeit money. One day
while processing counterfeit bills, his arm is severely damaged. His insurance will: -
Correct Answer Not cover the claim since he was involved in an illegal act at the time of
injury
An LTC insurer must provide notice of an upcoming premium rate schedule increase to all
policyholders at least ____ days prior to the implementation of the increase. - Correct
Answer 45
Which provision is an Optional Uniform Provision? - Correct Answer Misstatement of Age
Which of the following is a requirement that all licensees must meet? - Correct Answer
Notify the commissioner within 30 days of any change in business and residence address
Which of the following statements regarding the suspension of Harry's insurance agent
license accurately describes a reason for his suspension? - Correct Answer He was
default on a debt
Answers.
________ is/are not considered material to the policy issuance. - Correct Answer Age
and/or gender are not considered material to the policy issuance.
One of your clients just reinstated his health insurance plane. When is coverage effective
for sickness and accident? - Correct Answer 10 days for sickness, and immediately for
accidental injuries
Jay receives an annual disability benefit of $10,000. His employer contributed 75% of the
premium. How much of Jay's benefit is subject to income tax? - Correct Answer Jay is
covered under a contributory plan in which the employer is contributing 75% of premium,
so 75% of the $10,000 benefit ($7,500) is subject to income tax
Reciprocal agreements, as defined in the Georgia Insurance Code, refers to: - Correct
Answer Agreement between the Insurance Commissioner and regulators of other states
in order to facilitate licensing of nonresident adjusters in Georgia and other states
Burt named Liz as his beneficiary; however, he did not choose a Settlement Option. At the
time of his death, who determines the option to be used to receive the benefits? - Correct
Answer If the owner of the policy does not select a Settlement Option while alive, then the
beneficiary may choose an option at the time of claim.
The bank may require its borrowers to have a life insurance policy to secure a loan in the
event of the borrower's death. Which provision gives the bank proportional protection but
not control of the policy. - Correct Answer Collateral Assignment
Similar to life insurance, this party has all rights in the annuity contract. This party is
referred to as the: - Correct Answer Owner
Which of the following causes of death is covered by an Accidental Death &
Dismemberment policy? - Correct Answer Commercial airline crash
Which of the following statements regarding certificated of authority is correct? - Correct
Answer If an insurance company refuses to be examined by the Commissioner, its
certificate of authority may be suspended or revoked
, In a Medicare Supplement replacement sale, if the original policy has been in force for
less than ________ months, the replacing insurer shall waive any time periods applicable
to preexisting conditions to the extent that they have already been satisfied under the
original policy. - Correct Answer 6
Which of the following is the correct number of days in the grace period for each premium
mode? - Correct Answer 7 days for weekly, 10 days for monthly, and 31 for all others
Mandatory uniform provisions found in health insurance policies are designed to protect
the: - Correct Answer Insured
All of the following are considered by definition to be examples of transacting insurance in
the state of Georgia, except: - Correct Answer Adjusting a claim in Georgia
Which provision is a Mandatory Uniform Provision? - Correct Answer Legal Actions
All of the following statements regarding producer appointments are true, except: -
Correct Answer Certificates of authority for subagents must be renewed biennially (should
read annually)
Albert owns a printing business in which he, at times, prints counterfeit money. One day
while processing counterfeit bills, his arm is severely damaged. His insurance will: -
Correct Answer Not cover the claim since he was involved in an illegal act at the time of
injury
An LTC insurer must provide notice of an upcoming premium rate schedule increase to all
policyholders at least ____ days prior to the implementation of the increase. - Correct
Answer 45
Which provision is an Optional Uniform Provision? - Correct Answer Misstatement of Age
Which of the following is a requirement that all licensees must meet? - Correct Answer
Notify the commissioner within 30 days of any change in business and residence address
Which of the following statements regarding the suspension of Harry's insurance agent
license accurately describes a reason for his suspension? - Correct Answer He was
default on a debt
