Comprehensive Exam-KY Life & Health
_______ income blessings received by means of an worker are difficulty to taxation in
proportion to the amount of premium that the company paid. That profits as a consequence
of the worker's top class isn't always taxable. - ANSDisability
___________ manufacture and sell coverage insurance within the form of policies or
contracts of coverage. - ANSInsurers
_____________ includes organizations of underwriters known as syndicates, each of which
focuses on insuring a specific type of threat. - ANSLloyds of London
_____________ coverage allows for insurance insurance to be obtained while no longer
available from admitted companies. - ANSSurplus traces
A blanket fitness coverage might also NOT be issued to which of the following? - ANSAn
employee or trustee
A commercial enterprise entity may: - ANSIf a agency, association, partnership, restricted
legal responsibility company, limited liability partnership, or other prison entity, be licensed to
promote insurance
A consumer purchases an person disability income coverage and gets the coverage from
the insurer forty five days after utility. Upon receipt of the policy, the purchaser generally has
______days to review and go back the policy to acquire a full refund for any cause. - ANS10
A settlement this is drafted with the aid of an insurer and gets no enter or alteration from the
insured, is considered a(n): - ANSContract of Adhesion
A Disability Income Policy has a length of deductibility immediately following a incapacity at
some point of which time advantages are not payable. This length is known as a(n): -
ANSElimination Period
A is the insured under a $one hundred,000 10 yr term existence insurance coverage along
with her spouse named as her beneficiary. If she dies in year 9, what is going to her partner
obtain? - ANSThe face quantity of the policy
A married couple purchases a $250,000 Joint Life Policy. When the older of the two dies,
what is the amount payable to the survivor? - ANS$250,000
A married couple wants to make certain that if either of them dies, the survivor has sufficient
finances to preserve their wellknown of dwelling but want to accomplish this within the
maximum good value way. Which of the subsequent guidelines is nice acceptable to perform
their intention? - ANSPurchase a Joint lifestyles coverage
, A Medicare Supplement Policy should include, as a center advantage, Medicare Part B
coinsurance in the amount of _______. - ANS20%
A permanent policy is surrendered for its cash cost, and that sum is more than the amount of
charges paid in. How is the excess taxed? - ANSTaxed as normal profits
A man or woman or commercial enterprise entity that collects cash and adjusts or settles
claims in connection with existence/medical health insurance, fitness carrier contracts, and
annuities is: - ANSAn Administrator
A policyowner would like more coverage than the $100,000 Whole Life policy being
proposed, but does not have enough discretionary profits to pay a lot extra cash to do so.
What can a producer suggest that will allow the policyowner to have the Whole Life policy,
however with extra total loss of life advantage at an low-priced fee? - ANSAdd a term rider
A method utilized by dental insurance companies to decide the advantage to be paid is
referred to as: - ANSPrecertification
A producer isn't taken into consideration to be holding a license for the reason of controlled
enterprise so long as: - ANSThe aggregate rates from the managed commercial enterprise
do no longer exceeded the aggregate charges from all different business written via the at
some stage in any 12-month length
A SEP makes use of business enterprise funded _______ money owed. - ANSIRA
A Short-Term Disability Policy normally is for a disability lasting for: - ANSNot more than 2
years
Accident and Health Insurance provides coverage for 2 primary classes of perils. They are: -
ANSAccidental harm and illness
All of the following are a prohibited shape of advertising and marketing, besides: -
ANSStating that 'We were in business for over 50 years, for more records touch a nearby
agent.'
All of the following are correct bearing on Decreasing Term, besides: - ANSThe top class
declines at some point of the time period of the policy
All of the following are coverages supplied under a Basic Hospital Expense Policy, except: -
ANSPhysician/Surgeon charges
All of the following are eligible to participate in a HR-10 Keogh Plan, besides: - ANSSilent
companion
All of the following are Optional Uniform Provisions, besides: - ANSLegal Actions
_______ income blessings received by means of an worker are difficulty to taxation in
proportion to the amount of premium that the company paid. That profits as a consequence
of the worker's top class isn't always taxable. - ANSDisability
___________ manufacture and sell coverage insurance within the form of policies or
contracts of coverage. - ANSInsurers
_____________ includes organizations of underwriters known as syndicates, each of which
focuses on insuring a specific type of threat. - ANSLloyds of London
_____________ coverage allows for insurance insurance to be obtained while no longer
available from admitted companies. - ANSSurplus traces
A blanket fitness coverage might also NOT be issued to which of the following? - ANSAn
employee or trustee
A commercial enterprise entity may: - ANSIf a agency, association, partnership, restricted
legal responsibility company, limited liability partnership, or other prison entity, be licensed to
promote insurance
A consumer purchases an person disability income coverage and gets the coverage from
the insurer forty five days after utility. Upon receipt of the policy, the purchaser generally has
______days to review and go back the policy to acquire a full refund for any cause. - ANS10
A settlement this is drafted with the aid of an insurer and gets no enter or alteration from the
insured, is considered a(n): - ANSContract of Adhesion
A Disability Income Policy has a length of deductibility immediately following a incapacity at
some point of which time advantages are not payable. This length is known as a(n): -
ANSElimination Period
A is the insured under a $one hundred,000 10 yr term existence insurance coverage along
with her spouse named as her beneficiary. If she dies in year 9, what is going to her partner
obtain? - ANSThe face quantity of the policy
A married couple purchases a $250,000 Joint Life Policy. When the older of the two dies,
what is the amount payable to the survivor? - ANS$250,000
A married couple wants to make certain that if either of them dies, the survivor has sufficient
finances to preserve their wellknown of dwelling but want to accomplish this within the
maximum good value way. Which of the subsequent guidelines is nice acceptable to perform
their intention? - ANSPurchase a Joint lifestyles coverage
, A Medicare Supplement Policy should include, as a center advantage, Medicare Part B
coinsurance in the amount of _______. - ANS20%
A permanent policy is surrendered for its cash cost, and that sum is more than the amount of
charges paid in. How is the excess taxed? - ANSTaxed as normal profits
A man or woman or commercial enterprise entity that collects cash and adjusts or settles
claims in connection with existence/medical health insurance, fitness carrier contracts, and
annuities is: - ANSAn Administrator
A policyowner would like more coverage than the $100,000 Whole Life policy being
proposed, but does not have enough discretionary profits to pay a lot extra cash to do so.
What can a producer suggest that will allow the policyowner to have the Whole Life policy,
however with extra total loss of life advantage at an low-priced fee? - ANSAdd a term rider
A method utilized by dental insurance companies to decide the advantage to be paid is
referred to as: - ANSPrecertification
A producer isn't taken into consideration to be holding a license for the reason of controlled
enterprise so long as: - ANSThe aggregate rates from the managed commercial enterprise
do no longer exceeded the aggregate charges from all different business written via the at
some stage in any 12-month length
A SEP makes use of business enterprise funded _______ money owed. - ANSIRA
A Short-Term Disability Policy normally is for a disability lasting for: - ANSNot more than 2
years
Accident and Health Insurance provides coverage for 2 primary classes of perils. They are: -
ANSAccidental harm and illness
All of the following are a prohibited shape of advertising and marketing, besides: -
ANSStating that 'We were in business for over 50 years, for more records touch a nearby
agent.'
All of the following are correct bearing on Decreasing Term, besides: - ANSThe top class
declines at some point of the time period of the policy
All of the following are coverages supplied under a Basic Hospital Expense Policy, except: -
ANSPhysician/Surgeon charges
All of the following are eligible to participate in a HR-10 Keogh Plan, besides: - ANSSilent
companion
All of the following are Optional Uniform Provisions, besides: - ANSLegal Actions
