OR Life and Health Insurance: Simulate Your
P P P P P P P
Exam from Exam FX.
P P P
IfPthePDirectorPrequestsPinformationPregardingPaPclaim,PwithinPhowPmanyPdaysPmustPthePi
nsurerPprovidePaPresponse?
a) 3Pdays
b) 10Pdays
c) 21Pdays
d) 31Pdays
Answer:Pc)P21Pdays.
~ UponPanPinquiryPaboutPaPclaimPfromPthePDirector,PthePinsurerPmustPfurnishPanPadequate
PresponsePwithinP21Pdays.
IssuePagePpolicyPpremiumsPincreasePinPresponsePtoPwhichPofPthePfollowingPfactors?
a) IncreasedPbenefits
b) IncreasedPdeductible
c) Inflation
d) ThePinsured'sPage
Answer:Pa)PIncreasedPbenefits
~ ThePpremiumsPofPissuePagePpoliciesPcanPonlyPincreasePinPresponsePtoPanPincreasePin
Pbenefits.
InPformingPanPinsurancePcontract,PwhenPdoesPacceptancePusuallyPoccur?
a) WhenPanPinsuredPsubmitsPanPapplication.
b) WhenPanPinsurer'sPunderwriterPapprovesPcoverage.
c) WhenPanPinsurerPdeliversPthePpolicy.
d) WhenPanPinsurerPreceivesPanPapplication.
Answer:Pb)PWhenPanPinsurer'sPunderwriterPapprovesPcoverage.
~ InPinsurance,PthePofferPisPusuallyPmadePbyPthePapplicantPinPthePformPofPthePapplication.
PAcceptancePtakesPplacePwhenPanPinsurer'sPunderwriterPapprovesPthePapplicationPandPi
ssuesPaPpolicy.
AtPageP30,PanPapplicantPwantsPtoPstartPanPinsurancePprogram,PbutPrealizingPthatPhisPinsur
ancePneedsPwillPlikelyPchange,PhePwantsPaPpolicyPthatPcanPbePmodifiedPtoPaccommodateP
thosePchangesPasPtheyPoccur.PWhichPofPthePfollowingPpoliciesPwouldPmostPlikelyPfitPhisPne
eds?
a) AdjustablePLife
b) SinglePPremiumPWholePLife
,c) InterestP-PsensitivePWholePLife
d) DecreasingPTerm
Answer:Pa)PAdjustablePLife
InPreferencePtoPfixedPannuities,PwhatPcomprisesPmostPofPaPlifePinsurancePcompany'sPgen
eralPaccount?
a) SP&PPP500Pindex
b) ConservativePinvestmentsPlikePbonds
c) AggressivePstocksPandPbonds
d) CompanyPstock
Answer:Pb)PConservativePinvestmentsPlikePbonds.
APmanPisPstillPemployedPatPageP65PandPisPnowPeligiblePforPMedicare.PHePwantsPtoPknowPw
hatPhealthPinsurancePcoveragePhePisPeligiblePtoPreceive.PWhichPofPthePfollowingPoptionsPa
rePavailablePtoPhim?
a) ReapplicationPforPgroupPhealth
b) MedicarePonly
c) BothPgroupPhealthPandPMedicare
d) ContinuationPofPgroupPhealthPonly
Answer:Pc)PBothPgroupPhealthPandPMedicare.
WhichPofPthePfollowingPdocumentsPdeliveredPtoPthePpolicyownerPincludesPinformationPabo
utPpremiumPamounts,PcashPvalues,PsurrenderPvalues,PandPdeathPbenefitsPforPspecificPpoli
cyPyears?
a) PolicyPsummary
b) NoticePregardingPreplacement
c) PrivacyPnotice
d) Buyer'sPguide
Answer:Pa)PPolicyPsummary
ThePriskPmanagementPtechniquePthatPisPusedPtoPpreventPaPspecificPlossPbyPnotPexposingP
oneselfPtoPthatPactivityPisPcalled
a) Sharing.
b) Avoidance.
c) Transfer.
d) Reduction.
Answer:Pb)PAvoidance.
AnPassociationPcouldPbuyPgroupPinsurancePforPitsPmembersPifPitPmeetsPallPofPthePfollowing
PrequirementsPEXCEPT
a) hasPaPconstitutionPandPby-laws.
b) HoldPannualPmeetings.
c) IsPcontributory.
d) HasPatPleastP50Pmembers.
Answer:Pd)PHasPatPleastP50Pmembers.
,~AllPofPthePabovePcharacteristicsPwouldPmakePanPassociationPgroupPeligiblePforPbuyingPgr
oupPinsurance,PexceptPthePgroupPmustPhavePatPleastP100Pmembers.
WhoPmayPcompletePaPparamedicalPreport?
a) AnPunderwriter
b) APnursingPassistant
c) APregisteredPnurse
d) APspouse
Answer:Pc)PAPregisteredPnurse
WhichPofPthePfollowingParePresponsiblePforPmakingPpremiumPpaymentsPinPanPHMOPplan?
a) Producers
b) Insureds
c) Payors
d) Subscribers
Answer:Pd)PSubscribers
~ SubscribersParePpeoplePinPwhosePnamePthePcontractPisPissued.PTheyPwouldPbe
PresponsiblePforPmakingPthePpremiumPpayments.
AnPinsurerPinvestPthePmoneyPitPreceivesPfromPpremiumsPpaidPbyPitsPinsureds.PWhichPofPth
ePfollowingPisPTRUEPregardingPthePinterestPearnedPonPthesePinvestments?
a) ItPisPusedPtoPlowerPpremiums.
b) ItPisPpaidPoutPasPdividends.
c) ItPisPusedPtoPfundPexecutivePbonuses.
d) ItPisPusedPtoPincreasePthePdeathPbenefit.
Answer:Pa)PItPisPusedPtoPlowerPpremiums.
~ BecausePinsurersPreceivePpremiumsPbeforePtheyPmustPpayPoutPbenefits,PtheyPcanPinv
estPthePpremiumPmoneyPandPusePthePinterestPtoPlowerPpremiumPamountsPchargedPtoPin
sureds.
WhatPisPthePpurposePofPthePbuyer'sPguide?
a) ToPallowPthePconsumerPtoPcomparePthePcostsPofPdifferentPpolicies
b) ToPprovidePthePnamePandPaddressPofPthePagentP/PproducerPissuingPthePpolicy
c) ToPlistPallPpolicyPriders
d) ToPprovidePinformationPaboutPthePissuedPpolicy.
Answer:Pa)PToPallowPthePconsumerPtoPcomparePthePcostsPofPdifferentPpolicies.
~ ThePbuyer'sPguidePprovidesPgenericPinformationPaboutPlifePinsurancePpolicesPandPallows
PthePconsumerPtoPcomparePthePcostsPofPdifferentPpoliciesPThePpolicyPsummaryPprovidesPs
pecificPinformationPaboutPthePissuedPpolicy,PasPwellPasPthePinsurer'sPinformation.
WhichPofPthePfollowingPisPNOTPcoveredPbyPaPhealthPinsurancePpolicy?
a) Dental
b) Funeral
, c) Hospital
d) Disability
Answer:Pb)PFuneral
WhichPofPthePfollowingPisPthePbestPreasonPtoPpurchasePlifePinsurancePratherPthanPannuitie
s?
a) ToPliquidatePaPsumPofPmoneyPoverPaPperiodPofPyears.
b) ToPcreatePregularPincomePpayments
c) ToPliquidatePaPsumPofPmoneyPoverPaPlifetime.
d) ToPcreatePanPestate
Answer:Pd)PToPcreatePanPestate
~ WithPinsurance,PthePdeathPbenefitPcreatesPanPimmediatePestatePshouldPthePinsuredPdie.
PHowPmanyPdaysPfromPthePfinalizationPofPaPdivorcePorPseparationPdoesPthePspousePofPaPgr
oupPhealthPcertificatePownerPhavePtoPnotifyPthePinsurerPwhenPrequestingPcontinuancePofPc
overage?
a) 30
b) 45
c) 14
d) 60
Answer:Pd)P60
~ WithinP60PdaysPofPthePseparationPorPdivorcePofPthePspousePofPthePgroupPpolicyPcertifi
catePownerPthePinsurerPmustPreceivePnotice.PThePinsurerPwillPnotifyPthePspousePofPthePc
ertificatePownerPwithinP14PdaysPthatPthePpolicyPmayPbePcontinued.
InPaPgroupPpolicy,PwhoPisPissuedPaPcertificatePofPinsurance?
a) ThePindividualPinsured
b) ThePhealthPcarePprovider
c) ThePinsurancePcompany
d) ThePemployer
Answer:Pa)PThePindividualPinsured
WhichPofPthePfollowingPisPlicensedPsolelyPtoPadvisePinsuredsPaboutPtheirPpolices?
a) Broker
b) Actuary
c) Consultant
d) Agent
Answer:Pc)PConsultant
~ InsurancePconsultantsPofferPadvicePandPcounselingPregardingPanyPcontractPofPinsurance
PissuedPinPOregon.
WhoPcanPprovidePskilledPnursingPcare?
P P P P P P P
Exam from Exam FX.
P P P
IfPthePDirectorPrequestsPinformationPregardingPaPclaim,PwithinPhowPmanyPdaysPmustPthePi
nsurerPprovidePaPresponse?
a) 3Pdays
b) 10Pdays
c) 21Pdays
d) 31Pdays
Answer:Pc)P21Pdays.
~ UponPanPinquiryPaboutPaPclaimPfromPthePDirector,PthePinsurerPmustPfurnishPanPadequate
PresponsePwithinP21Pdays.
IssuePagePpolicyPpremiumsPincreasePinPresponsePtoPwhichPofPthePfollowingPfactors?
a) IncreasedPbenefits
b) IncreasedPdeductible
c) Inflation
d) ThePinsured'sPage
Answer:Pa)PIncreasedPbenefits
~ ThePpremiumsPofPissuePagePpoliciesPcanPonlyPincreasePinPresponsePtoPanPincreasePin
Pbenefits.
InPformingPanPinsurancePcontract,PwhenPdoesPacceptancePusuallyPoccur?
a) WhenPanPinsuredPsubmitsPanPapplication.
b) WhenPanPinsurer'sPunderwriterPapprovesPcoverage.
c) WhenPanPinsurerPdeliversPthePpolicy.
d) WhenPanPinsurerPreceivesPanPapplication.
Answer:Pb)PWhenPanPinsurer'sPunderwriterPapprovesPcoverage.
~ InPinsurance,PthePofferPisPusuallyPmadePbyPthePapplicantPinPthePformPofPthePapplication.
PAcceptancePtakesPplacePwhenPanPinsurer'sPunderwriterPapprovesPthePapplicationPandPi
ssuesPaPpolicy.
AtPageP30,PanPapplicantPwantsPtoPstartPanPinsurancePprogram,PbutPrealizingPthatPhisPinsur
ancePneedsPwillPlikelyPchange,PhePwantsPaPpolicyPthatPcanPbePmodifiedPtoPaccommodateP
thosePchangesPasPtheyPoccur.PWhichPofPthePfollowingPpoliciesPwouldPmostPlikelyPfitPhisPne
eds?
a) AdjustablePLife
b) SinglePPremiumPWholePLife
,c) InterestP-PsensitivePWholePLife
d) DecreasingPTerm
Answer:Pa)PAdjustablePLife
InPreferencePtoPfixedPannuities,PwhatPcomprisesPmostPofPaPlifePinsurancePcompany'sPgen
eralPaccount?
a) SP&PPP500Pindex
b) ConservativePinvestmentsPlikePbonds
c) AggressivePstocksPandPbonds
d) CompanyPstock
Answer:Pb)PConservativePinvestmentsPlikePbonds.
APmanPisPstillPemployedPatPageP65PandPisPnowPeligiblePforPMedicare.PHePwantsPtoPknowPw
hatPhealthPinsurancePcoveragePhePisPeligiblePtoPreceive.PWhichPofPthePfollowingPoptionsPa
rePavailablePtoPhim?
a) ReapplicationPforPgroupPhealth
b) MedicarePonly
c) BothPgroupPhealthPandPMedicare
d) ContinuationPofPgroupPhealthPonly
Answer:Pc)PBothPgroupPhealthPandPMedicare.
WhichPofPthePfollowingPdocumentsPdeliveredPtoPthePpolicyownerPincludesPinformationPabo
utPpremiumPamounts,PcashPvalues,PsurrenderPvalues,PandPdeathPbenefitsPforPspecificPpoli
cyPyears?
a) PolicyPsummary
b) NoticePregardingPreplacement
c) PrivacyPnotice
d) Buyer'sPguide
Answer:Pa)PPolicyPsummary
ThePriskPmanagementPtechniquePthatPisPusedPtoPpreventPaPspecificPlossPbyPnotPexposingP
oneselfPtoPthatPactivityPisPcalled
a) Sharing.
b) Avoidance.
c) Transfer.
d) Reduction.
Answer:Pb)PAvoidance.
AnPassociationPcouldPbuyPgroupPinsurancePforPitsPmembersPifPitPmeetsPallPofPthePfollowing
PrequirementsPEXCEPT
a) hasPaPconstitutionPandPby-laws.
b) HoldPannualPmeetings.
c) IsPcontributory.
d) HasPatPleastP50Pmembers.
Answer:Pd)PHasPatPleastP50Pmembers.
,~AllPofPthePabovePcharacteristicsPwouldPmakePanPassociationPgroupPeligiblePforPbuyingPgr
oupPinsurance,PexceptPthePgroupPmustPhavePatPleastP100Pmembers.
WhoPmayPcompletePaPparamedicalPreport?
a) AnPunderwriter
b) APnursingPassistant
c) APregisteredPnurse
d) APspouse
Answer:Pc)PAPregisteredPnurse
WhichPofPthePfollowingParePresponsiblePforPmakingPpremiumPpaymentsPinPanPHMOPplan?
a) Producers
b) Insureds
c) Payors
d) Subscribers
Answer:Pd)PSubscribers
~ SubscribersParePpeoplePinPwhosePnamePthePcontractPisPissued.PTheyPwouldPbe
PresponsiblePforPmakingPthePpremiumPpayments.
AnPinsurerPinvestPthePmoneyPitPreceivesPfromPpremiumsPpaidPbyPitsPinsureds.PWhichPofPth
ePfollowingPisPTRUEPregardingPthePinterestPearnedPonPthesePinvestments?
a) ItPisPusedPtoPlowerPpremiums.
b) ItPisPpaidPoutPasPdividends.
c) ItPisPusedPtoPfundPexecutivePbonuses.
d) ItPisPusedPtoPincreasePthePdeathPbenefit.
Answer:Pa)PItPisPusedPtoPlowerPpremiums.
~ BecausePinsurersPreceivePpremiumsPbeforePtheyPmustPpayPoutPbenefits,PtheyPcanPinv
estPthePpremiumPmoneyPandPusePthePinterestPtoPlowerPpremiumPamountsPchargedPtoPin
sureds.
WhatPisPthePpurposePofPthePbuyer'sPguide?
a) ToPallowPthePconsumerPtoPcomparePthePcostsPofPdifferentPpolicies
b) ToPprovidePthePnamePandPaddressPofPthePagentP/PproducerPissuingPthePpolicy
c) ToPlistPallPpolicyPriders
d) ToPprovidePinformationPaboutPthePissuedPpolicy.
Answer:Pa)PToPallowPthePconsumerPtoPcomparePthePcostsPofPdifferentPpolicies.
~ ThePbuyer'sPguidePprovidesPgenericPinformationPaboutPlifePinsurancePpolicesPandPallows
PthePconsumerPtoPcomparePthePcostsPofPdifferentPpoliciesPThePpolicyPsummaryPprovidesPs
pecificPinformationPaboutPthePissuedPpolicy,PasPwellPasPthePinsurer'sPinformation.
WhichPofPthePfollowingPisPNOTPcoveredPbyPaPhealthPinsurancePpolicy?
a) Dental
b) Funeral
, c) Hospital
d) Disability
Answer:Pb)PFuneral
WhichPofPthePfollowingPisPthePbestPreasonPtoPpurchasePlifePinsurancePratherPthanPannuitie
s?
a) ToPliquidatePaPsumPofPmoneyPoverPaPperiodPofPyears.
b) ToPcreatePregularPincomePpayments
c) ToPliquidatePaPsumPofPmoneyPoverPaPlifetime.
d) ToPcreatePanPestate
Answer:Pd)PToPcreatePanPestate
~ WithPinsurance,PthePdeathPbenefitPcreatesPanPimmediatePestatePshouldPthePinsuredPdie.
PHowPmanyPdaysPfromPthePfinalizationPofPaPdivorcePorPseparationPdoesPthePspousePofPaPgr
oupPhealthPcertificatePownerPhavePtoPnotifyPthePinsurerPwhenPrequestingPcontinuancePofPc
overage?
a) 30
b) 45
c) 14
d) 60
Answer:Pd)P60
~ WithinP60PdaysPofPthePseparationPorPdivorcePofPthePspousePofPthePgroupPpolicyPcertifi
catePownerPthePinsurerPmustPreceivePnotice.PThePinsurerPwillPnotifyPthePspousePofPthePc
ertificatePownerPwithinP14PdaysPthatPthePpolicyPmayPbePcontinued.
InPaPgroupPpolicy,PwhoPisPissuedPaPcertificatePofPinsurance?
a) ThePindividualPinsured
b) ThePhealthPcarePprovider
c) ThePinsurancePcompany
d) ThePemployer
Answer:Pa)PThePindividualPinsured
WhichPofPthePfollowingPisPlicensedPsolelyPtoPadvisePinsuredsPaboutPtheirPpolices?
a) Broker
b) Actuary
c) Consultant
d) Agent
Answer:Pc)PConsultant
~ InsurancePconsultantsPofferPadvicePandPcounselingPregardingPanyPcontractPofPinsurance
PissuedPinPOregon.
WhoPcanPprovidePskilledPnursingPcare?
