Health Insurance (200 Questions
_____________Quiz____________?
An annuity promises that, if the annuitant dies before receiving payments equal to the
correct value, the payments will be continued to a beneficiary until an amount equal to the
contract value has been paid. This type of annuity is called
An installment Refund annuity
A Straight Life annuity
A Cash Refund annuity
A Joint Life annuity -
Answer✓✓
An installment Refund annuity
_____________Quiz____________?
One becomes eligible for Social Security disability benefits after having been disabled for
3 months
5 months
6 months
12 months -
Answer✓✓
5 months
1
, _____________Quiz____________?
A potential client, age 40, would like to purchase a Whole Life policy that will accumulate
cash value at a faster rate in the early years of the policy. Which of these statements made
by the producer would be correct?
Straight life accumulates faster than Limited-pay Life
20-Pay Life accumulates cash value faster than Straight Life
Cash value accumulation of both 20-Pay Life and Straight Life depend on the insurer's
financial rating
20-Pay Life and Straight Life accumulate cash value at the same rate -
Answer✓✓
20-Pay Life accumulates cash value faster than Straight Life
_____________Quiz____________?
Who makes the legally enforceable promises in a unilateral insurance policy?
Beneficiary
Insurance company
Insured
Applicant -
Answer✓✓
Insurance company
_____________Quiz____________?
The Consideration clause in a life insurance policy indicates that a policyowner's
consideration consists of a completed application and
the initial premium
agreeing to a physical examination
2
, delivery of policy
disclosure of any medical conditions -
Answer✓✓
the initial premium
_____________Quiz____________?
Which parts of a life insurance policy are guaranteed to be true?
Rating
Representation
Statement
Warranty -
Answer✓✓
Warranty
_____________Quiz____________?
A comprehensive major medical health insurance policy contains an Eligible Expenses
provision which identifies the types of health care services that are covered. All of the
following health care services are typically covered EXCEPT for
hospital charges
physician fees
experimental and investigative services
nursing services -
Answer✓✓
experimental and investigative services
_____________Quiz____________?
If a retiree on Medicare required five hospital stays in one year, which policy would provide
the best insurance for excess hospital expenses?
3
, Long-term care
Indemnity
Medicare Supplement
Medicaid -
Answer✓✓
Medicare Supplement
_____________Quiz____________?
S, while in the process of converting her group life insurance to an individual policy, dies.
What happens to the claim her beneficiary submits?
No benefits are payable under the Master contract
Full benefits are payable under the Master contract
Full benefits are payable under the converted policy
Benefits less required premium are payable under the converted policy -
Answer✓✓
Full benefits are payable under the Master contract
_____________Quiz____________?
All of the following are limited benefit plans EXCEPT
cancer policies
life insurance policies
dental policies
critical illness policies -
Answer✓✓
life insurance policies
4
_____________Quiz____________?
An annuity promises that, if the annuitant dies before receiving payments equal to the
correct value, the payments will be continued to a beneficiary until an amount equal to the
contract value has been paid. This type of annuity is called
An installment Refund annuity
A Straight Life annuity
A Cash Refund annuity
A Joint Life annuity -
Answer✓✓
An installment Refund annuity
_____________Quiz____________?
One becomes eligible for Social Security disability benefits after having been disabled for
3 months
5 months
6 months
12 months -
Answer✓✓
5 months
1
, _____________Quiz____________?
A potential client, age 40, would like to purchase a Whole Life policy that will accumulate
cash value at a faster rate in the early years of the policy. Which of these statements made
by the producer would be correct?
Straight life accumulates faster than Limited-pay Life
20-Pay Life accumulates cash value faster than Straight Life
Cash value accumulation of both 20-Pay Life and Straight Life depend on the insurer's
financial rating
20-Pay Life and Straight Life accumulate cash value at the same rate -
Answer✓✓
20-Pay Life accumulates cash value faster than Straight Life
_____________Quiz____________?
Who makes the legally enforceable promises in a unilateral insurance policy?
Beneficiary
Insurance company
Insured
Applicant -
Answer✓✓
Insurance company
_____________Quiz____________?
The Consideration clause in a life insurance policy indicates that a policyowner's
consideration consists of a completed application and
the initial premium
agreeing to a physical examination
2
, delivery of policy
disclosure of any medical conditions -
Answer✓✓
the initial premium
_____________Quiz____________?
Which parts of a life insurance policy are guaranteed to be true?
Rating
Representation
Statement
Warranty -
Answer✓✓
Warranty
_____________Quiz____________?
A comprehensive major medical health insurance policy contains an Eligible Expenses
provision which identifies the types of health care services that are covered. All of the
following health care services are typically covered EXCEPT for
hospital charges
physician fees
experimental and investigative services
nursing services -
Answer✓✓
experimental and investigative services
_____________Quiz____________?
If a retiree on Medicare required five hospital stays in one year, which policy would provide
the best insurance for excess hospital expenses?
3
, Long-term care
Indemnity
Medicare Supplement
Medicaid -
Answer✓✓
Medicare Supplement
_____________Quiz____________?
S, while in the process of converting her group life insurance to an individual policy, dies.
What happens to the claim her beneficiary submits?
No benefits are payable under the Master contract
Full benefits are payable under the Master contract
Full benefits are payable under the converted policy
Benefits less required premium are payable under the converted policy -
Answer✓✓
Full benefits are payable under the Master contract
_____________Quiz____________?
All of the following are limited benefit plans EXCEPT
cancer policies
life insurance policies
dental policies
critical illness policies -
Answer✓✓
life insurance policies
4
