Kansas Life & Health Insurance Final
Exam Graded A+
A certificate of authority does which of the following - ANSWER-Permits an insurance
company to transact business in Kansas
A disability elimination period is best described as a - ANSWER-time deductible
A Disability Income policyowner recently submitted a claim for a chronic neck problem
that has now resulted in total disability. The original neck injury occurred before the
application was taken 5 years prior. The neck injury was never disclosed to the insurer
at the time of application. How will the insurer handle this claim? - ANSWER-Claim will
be paid and coverage will remain in force
A Disability Income policyowner suffers a disability which was due to the same cause as
a previous disability. Both disabilities occurred within a five-month period. The insurer
may cover the second disability without a new elimination period under the - ANSWER-
Recurrent disability provision
A Key Employee policy is taken out by Company X on its vice president. Ten years
later, this employee leaves Company X and begins working for Company Y. If this
individual were to die and the policy is still in force and unchanged, where would the
death proceeds be directed? - ANSWER-Company X
A life insurance application must be signed by all of these EXCEPT - ANSWER-
Beneficiaries are not required to sign an insurance application
A life policy with a death benefit that can fluctuate according to the performance of its
underlying investment portfolio is referred to as - ANSWER-Variable life
A medical care provider which typically delivers health services at its own local medical
facility is known as a - ANSWER-Health maintenance organization
A noncontributory group term life plan is characterized by - ANSWER-the entire cost of
the plan is paid for by the employer
A person who is insured within a group contract will be given a - ANSWER-certificate
A producer is an individual who has been authorized by an insurer to be its
representative and to perform all of the following acts EXCEPT - ANSWER-authorize
payment of certain claims
A stock insurance company is owned by it's - ANSWER-Stockholder
, According to the Time Payment of Claims provision, the insurer must pay Disability
Income benefits no less frequently than which of the following options? - ANSWER-
Monthly
All of the following statements about Major Medical benefits are true EXCEPT -
ANSWER-Benefits have no maximum limit
All of these insurance products require an agent to have proper FINRA securities
registration in order to sell them EXCEPT for - ANSWER-Modified whole life
All students attending a large university could be covered by - ANSWER-Blanket policy
An applicant for a resident insurance producer's license MUST meet which of the
following requirements? - ANSWER-Complete a prelicensing examination
An applicant's medical information received from the Medical Information Bureau (MIB)
may be furnished to the - ANSWER-Applicant's physician
An individual who purchases a Life annuity is given protection against - ANSWER-The
risk of living longer than expected
An insurance applicant MUST be informed of an investigation regarding his/her
reputation and character according to the - ANSWER-Fair credit reporting act
An insurance company can usually contest the information contained in an accident and
health application for two years from the date that the - ANSWER-insurance company
dates the policy
An insurance company that has not been approved by the state is considered to be -
ANSWER-Unauthorized
An insurance company that is organized or chartered in a country other than the United
States is defined as - ANSWER-Alien
An insured covered by a group Major Medical plan is hospitalized after sustaining
injuries that resulted from an automobile accident. Assuming the plan had a $1,000
deductible and an 80/20 Coinsurance clause, how much will the INSURED be
responsible to pay with $11,000 in covered medical expenses - ANSWER-$3,000
At what point must a life insurance applicant be informed of their rights that fall under
the Fair Credit Reporting Act? - ANSWER-Upon completion of the application
Basic Hospital and Surgical policy benefits are - ANSWER-lower than the actual
expenses incurred
Exam Graded A+
A certificate of authority does which of the following - ANSWER-Permits an insurance
company to transact business in Kansas
A disability elimination period is best described as a - ANSWER-time deductible
A Disability Income policyowner recently submitted a claim for a chronic neck problem
that has now resulted in total disability. The original neck injury occurred before the
application was taken 5 years prior. The neck injury was never disclosed to the insurer
at the time of application. How will the insurer handle this claim? - ANSWER-Claim will
be paid and coverage will remain in force
A Disability Income policyowner suffers a disability which was due to the same cause as
a previous disability. Both disabilities occurred within a five-month period. The insurer
may cover the second disability without a new elimination period under the - ANSWER-
Recurrent disability provision
A Key Employee policy is taken out by Company X on its vice president. Ten years
later, this employee leaves Company X and begins working for Company Y. If this
individual were to die and the policy is still in force and unchanged, where would the
death proceeds be directed? - ANSWER-Company X
A life insurance application must be signed by all of these EXCEPT - ANSWER-
Beneficiaries are not required to sign an insurance application
A life policy with a death benefit that can fluctuate according to the performance of its
underlying investment portfolio is referred to as - ANSWER-Variable life
A medical care provider which typically delivers health services at its own local medical
facility is known as a - ANSWER-Health maintenance organization
A noncontributory group term life plan is characterized by - ANSWER-the entire cost of
the plan is paid for by the employer
A person who is insured within a group contract will be given a - ANSWER-certificate
A producer is an individual who has been authorized by an insurer to be its
representative and to perform all of the following acts EXCEPT - ANSWER-authorize
payment of certain claims
A stock insurance company is owned by it's - ANSWER-Stockholder
, According to the Time Payment of Claims provision, the insurer must pay Disability
Income benefits no less frequently than which of the following options? - ANSWER-
Monthly
All of the following statements about Major Medical benefits are true EXCEPT -
ANSWER-Benefits have no maximum limit
All of these insurance products require an agent to have proper FINRA securities
registration in order to sell them EXCEPT for - ANSWER-Modified whole life
All students attending a large university could be covered by - ANSWER-Blanket policy
An applicant for a resident insurance producer's license MUST meet which of the
following requirements? - ANSWER-Complete a prelicensing examination
An applicant's medical information received from the Medical Information Bureau (MIB)
may be furnished to the - ANSWER-Applicant's physician
An individual who purchases a Life annuity is given protection against - ANSWER-The
risk of living longer than expected
An insurance applicant MUST be informed of an investigation regarding his/her
reputation and character according to the - ANSWER-Fair credit reporting act
An insurance company can usually contest the information contained in an accident and
health application for two years from the date that the - ANSWER-insurance company
dates the policy
An insurance company that has not been approved by the state is considered to be -
ANSWER-Unauthorized
An insurance company that is organized or chartered in a country other than the United
States is defined as - ANSWER-Alien
An insured covered by a group Major Medical plan is hospitalized after sustaining
injuries that resulted from an automobile accident. Assuming the plan had a $1,000
deductible and an 80/20 Coinsurance clause, how much will the INSURED be
responsible to pay with $11,000 in covered medical expenses - ANSWER-$3,000
At what point must a life insurance applicant be informed of their rights that fall under
the Fair Credit Reporting Act? - ANSWER-Upon completion of the application
Basic Hospital and Surgical policy benefits are - ANSWER-lower than the actual
expenses incurred
