Final exam- Vermont life and health questions
with correct answers. 167 Questions and Correct
Answers, 2024.
Which of the following is NOT a basic underwriting action for accident and health insurance?
Removing uniform policy provisions
Long-term care policies will usually pay for eligible benefits to using which of the following methods
Expense incurred
T is covered by an accidental death and dismemberment (AD&D) policy that contains an irrevocable
beneficiary. What action will the insurance company take if T requests a change of beneficiary?
Request of the change will be refused
Which of these do NOT indicate the presence of insurance interest in a life insurance contract
Lifelong friendship
When an individual is planning to protect his family with life insurance one method of doing so is
called needs analysis what exactly does needs analysis involve?
Establishes the needs of the individual and his dependents
Which of these is not a factor that influences group health insurance underwriting?
Physical exams of group members
Which one of these is not considered to be an element of an insurable risk
Speculative risk
Newborn children are automatically covered under an existing family medical plan at the moment of
birth for a period of at least (# days)
31
Under what circumstances does an accident and health insurance have the right to request an autopsy
We're not prohibited by state law
Which of these annuity contract features is meant to discourage withdrawals and exchanges?
Surrender charges
Under a deferred annuity, which contract feature initially charges a 5-10% fee that eventually reduces
to $0 after a stated amount of time?
surrender charge
, Which of the following is an example of defamation?
Making a statement that is false or maliciously critical of the financial condition of an insurer
Which report contains information regarding an individual's general reputation and credit standing?
Consumer report
How are the premiums for an individually-owned disability income policy treated for tax purposes?
Not tax-deductible at all
Which of these is NOT an underwriting responsibility of a life insurance agent?
Determining the final rate classification
Disability income policies provide protection for which of the following
Economic death
Mike recently lost sight in both eyes. He has a policy that pays a lump sum benefit for this injury. What
type of insurance does Mike have?
Accidental Death and Dismemberment
The reason for backdating a policy is
to obtain a premium rate based on an earlier age
According to ERISA regulations, a Summary Plan Description must be provided to a new plan member
within ___ days of the member's eligibility date.
90
A licensee who is required to take continuing education must complete 24 hours of continuing
education, which includes ___ hour(s) of ethics courseworks?
3
Group life insurance is typically issued as
level term insurance
What is it in insurance contract that identifies individuals by relationship to a specific organization
Group insurance
Insurance producer Kelly offers a $500 shopping card if a client purchases an insurance product
through her. What is this an example of?
Rebating, which is an unfair trade practice
In a disability buy-sell agreement, the policies funding the agreement are owned by the
Business entity
with correct answers. 167 Questions and Correct
Answers, 2024.
Which of the following is NOT a basic underwriting action for accident and health insurance?
Removing uniform policy provisions
Long-term care policies will usually pay for eligible benefits to using which of the following methods
Expense incurred
T is covered by an accidental death and dismemberment (AD&D) policy that contains an irrevocable
beneficiary. What action will the insurance company take if T requests a change of beneficiary?
Request of the change will be refused
Which of these do NOT indicate the presence of insurance interest in a life insurance contract
Lifelong friendship
When an individual is planning to protect his family with life insurance one method of doing so is
called needs analysis what exactly does needs analysis involve?
Establishes the needs of the individual and his dependents
Which of these is not a factor that influences group health insurance underwriting?
Physical exams of group members
Which one of these is not considered to be an element of an insurable risk
Speculative risk
Newborn children are automatically covered under an existing family medical plan at the moment of
birth for a period of at least (# days)
31
Under what circumstances does an accident and health insurance have the right to request an autopsy
We're not prohibited by state law
Which of these annuity contract features is meant to discourage withdrawals and exchanges?
Surrender charges
Under a deferred annuity, which contract feature initially charges a 5-10% fee that eventually reduces
to $0 after a stated amount of time?
surrender charge
, Which of the following is an example of defamation?
Making a statement that is false or maliciously critical of the financial condition of an insurer
Which report contains information regarding an individual's general reputation and credit standing?
Consumer report
How are the premiums for an individually-owned disability income policy treated for tax purposes?
Not tax-deductible at all
Which of these is NOT an underwriting responsibility of a life insurance agent?
Determining the final rate classification
Disability income policies provide protection for which of the following
Economic death
Mike recently lost sight in both eyes. He has a policy that pays a lump sum benefit for this injury. What
type of insurance does Mike have?
Accidental Death and Dismemberment
The reason for backdating a policy is
to obtain a premium rate based on an earlier age
According to ERISA regulations, a Summary Plan Description must be provided to a new plan member
within ___ days of the member's eligibility date.
90
A licensee who is required to take continuing education must complete 24 hours of continuing
education, which includes ___ hour(s) of ethics courseworks?
3
Group life insurance is typically issued as
level term insurance
What is it in insurance contract that identifies individuals by relationship to a specific organization
Group insurance
Insurance producer Kelly offers a $500 shopping card if a client purchases an insurance product
through her. What is this an example of?
Rebating, which is an unfair trade practice
In a disability buy-sell agreement, the policies funding the agreement are owned by the
Business entity
