2024|2025 Wisconsin Accident and Health Insurance Exam Questions and Correct Answers 100%

2024|2025 Wisconsin Accident and Health Insurance Exam Questions and Correct Answers 100% A business becoming incorporated is an example of risk Reduction Severance Retention Transfer Correct Answer Transfer A certificate of coverage for a group health policy is best described as A contract between the employer and employee A contract between the employer and insurer Proof of coverage for the employee Proof of coverage for the employer Correct Answer Proof of coverage for the employee A comprehensive group policy also covers expenses related to vision care. Which of the following is not typically covered under a vision plan? Cataract Surgery. Routine eye exam. Corrective vision glasses. Corrective contact lenses. Correct Answer Cataract Surgery. A contract is considered void in all of the following situations EXCEPT When one party is a minor When consideration is unequal When consideration is incomplete When agreement cannot be reached between parties Correct Answer When consideration is unequal A disability income insurance policy was recently issued with a rating. What does this mean? Policyowner will be charged an additional premium. Policy will have specific illnesses excluded from coverage. Policyowner will be charged a reduced premium. Policy will have a longer waiting period. Correct Answer Policyowner will be charged an additional premium. A disabled business owner who has payroll and business expenses paid for has what kind of insurance policy? Key person. Franchise disability. Business overhead expense. Disability income. Correct Answer Business overhead expense. A group health insurance policy is a contract between an Employee and insurance company Employee and employer Employer and insurance company Employer and producer Correct Answer Employer and insurance company A group health insurer's acquisition costs are usually highest: In the first plan year In the second plan year After the first renewal After the second renewal Correct Answer In the first plan year A group-owned insurance company that is formed to assume and spread the liability risks of its members is known as a Risk retention group Treaty insurer Risk assumption group Captive insurer Correct Answer Risk retention group A health maintenance organization (HMO) usually provides all of the following inpatient hospital services EXCEPT: Preadmission certification