CT Life & Health Insurance Exam 2024 (XCEL SOLUTIONS & PROMETRIC) Questions and Answers (100%Correct).
Laura added a children's rider to her life
... [Show More] insurance policy. What type of coverage was added? -
ANSWER Level term
With life insurance, the needs approach is used primarily in determining - ANSWER How
much life insurance a client should apply for
A(n) __________ is a licensee who charges a fee for contracted insurance advisory services. -
ANSWER Consultant
Jonas is covered with disability insurance through his employer. The employer pays 75% of
the premium, while Jonas pays the other 25%. What is Jonas' tax liability for any benefits paid
from the disability plan? - ANSWER Taxes must be paid on 75% of the benefits received
The Commissioner is empowered to perform each of the following acts EXCEPT - ANSWER
Makes rules that are consistent with those of neighboring states
(Monitor insurer solvency, make rules and regulations that are consistent with the laws of CT,
monitor insurer premium rates)
How are the premiums for an individually-owned disability income policy treated for tax
purposes? - ANSWER Not tax-deductible at all
Scott has a life insurance policy in which the dividends are left with the insurance company.
This particular policy may be paid up when the cash value plus accumulated dividends -
ANSWER Equal the net single premium for the same face amount at the insured's attained
age
Which of these is NOT a standard provision in qualified long-term care policies sold in
Connecticut? - ANSWER Prior hospitalization
(30-day free look period, guaranteed renewability, provide minimum coverage for 12
consecutive months)
Accident and health insurance claim handling is made more convenient to the insured by
utilizing - ANSWER Assignment of benefits
Specialty care is provided by which of the following health maintenance organization (HMO)
providers? - ANSWER Neurologist
Which of the following facilitates nonresident licensing in the state of Connecticut? - ANSWER
Reciprocity agreement
CT Life & Health Insurance Exam 2024
To secure authority for soliciting insurance products in the State of Connecticut, an insurance
company must secure a certificate of authority from - ANSWER The Connecticut Insurance
Commissioner
A group health certificate for coverage issued in Connecticut MUST contain a(n) - ANSWER
Summary of policy features and benefits
Any employee insured under a group life insurance plan is normally - ANSWER Covered with
term life insurance
Which statement regarding whole life insurance is accurate? - ANSWER Insurance coverage
can continue for life
All of these are considered to be a violation of the Federal Fraud and False Statements Act
EXCEPT - ANSWER Claims reimbursement
(Overvaluing land, abstracting funds, false entries on reports)
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 - ANSWER Experimental and
investigative services
(Hospital charges, physician fees, nursing services)
An employee welfare plan exempt from ERISA regulations would be - ANSWER Church plans
Medicare Part B excess charges are covered by - ANSWER Medicare Supplemental insurance
A major medical expense policy typically does NOT - ANSWER Pay surgeon fees on a
first-dollar basis
(Contain a deductible, have a high limit of coverage, contain a coinsurance provision)
Mary has a Health Savings Account (HSA). Distributions that she has made for anything other
than qualified medical expenses are considered taxable and subject to a penalty of - ANSWER
20%
Under an adjustable life insurance policy, which of the following may NOT be changed
without further underwriting? - ANSWER The person insured
(The period of coverage, the payment period, the plan of coverage)
When a producer acts within the scope of his/her contractual authority, which of the
following is legally responsible for these actions? - ANSWER The insurer . [Show Less]