What is the contract provision that allows the insurer
to nonrenew heal coverage if certain events occur
conditionally renewable
2. With guaranteed
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The company will continued to renew the policy until the
insured has reached age 65
3. When an insured cancel a policy prior to the expiration
date, the unearned premium is returned on a:
Short rate basis
4. Pro Rata Basis
Method for refunding a premium when an Insurer cancels a
policy, based on the number of days the policy is in effect.
5. Cost Of Living Adjustment Rider
A disability insurance provision to increase monthly
benefits
6. Residual disability
Type of disability income policy that provides benefits for
loss of income when a person returns to work after a total
disability, but is still not able to perform at the same level
as before becoming disabled.
7. Presumptive disability benefits
Permanent disability due to total loss of sight, hearing,
speech or use of 2 + limbs; benefits paid even while
continuing to work.
8. The minimum number of credits for a partially insured
status is
6 credits
9. What is the main purpose of a total disability plan
To protect individual or families against the economic loss
after a total disability of a wage earner
10. What is not covered by HMO
Elective Services
11. The patient protection and affordable care act
what is in the affordable care act
12. PPO contract on a
Fee for service basis
13. Which of the following health care plan would most
likely provide the insured/subscriber with
comprehensive health care coverage
HMO health maintenance organization plan
14. Can group insurance be formed for any reason
Group insurance must be formed for a purpose
15. Which of the following statement is concerning
employer group dental plans
The seldom contain a conversion privilege
16. Most schedule plans provide first dollar benefits
without
Coinsurance and deductibles
17. All of the following LTC coverage would encourage
and insured to receive care at home except
Child Care
18. If a new individual long-term care policyholder is
not satisfied with a new policy, within how many days
can the insured return the policy for a premium refund
30 days
19. Pre-existing conditions must be covered after a
policy have been enforce for
6 months
20. Guarantee of insurability option allows the insured
to periodically increase benefit levels
without providing evidence of insurability
21. Not required in the outline of coverage
Basic information about the supplementary policies
22. Are not covered under LTC home health care
Attending Physician
23. How many days of skill nursing facility care will
medicare pay for benefits
100 days
24. Who must sign the notice regarding replacement
The applicant and the agent
25. If make regular contributions to HSA
The contributions are tax-deductible
26. Group disability income insurance premiums paid
by the employer are
Deductible by the employer as an ordinary business
expense
27. Benefits paid to disable employees
May be subject to taxation if the premium was paid by the
employer
28. A insurance company publish a brochure that
inaccurately portrays the advantages of a particular
insurance policy this is call
False advertisement
29. Insurance based on insureds habits and lifestyle is
not
discrimination
30. A consumer received Spam emails from an
insurance company, time period should the insurer
comply with this request.
10 business days
31. Acting as an insurance agent is
A 3rd degree misdemeanor and a $1000 fine
32. If a consumer request information concerning a
I.C.R, A investigative consumer report, how long does
the insurer or reporting agency have to comply
5 days
33. What is the maximum penalty for habitual
willful noncompliance with the fair credit reporting act
$2,500
34. What entity established the do-not-call registry
FTC, The federal trade commission.
35. Who is not allowed to represent an insurer or
claimant
Producer
36. Insurance company wishes to begin transacting
business in PA, what much he obtain
Obtain a certificate of authority
37. Non resident producers may become resident
producers if they submit a completed application in
how many within how many days with proof of license
from prior home
90
38. If another governmental agency take legal action
against a licensee, who responsibility is it to report the
action
The Licensee
39. Insurance producers that do not have company
appointments are considered
Representative of the consumer
40. A consumer request additional information
concerning a investigated consumer report how long
does the insurer or reporting agency have to comply
5 days
41. Buyer's Guide
A booklet that describes insurance policies and concepts,
and provides general information to help an applicant make
an informed decision.
42. SOLICITING
Soliciting is any effort to influence a person to purchase an
insurance product from you.
43. NEGOTIATING
Negotiating is communicating with a prospective client with
regard to need for or efficacy of different
types of insurance related products.
44. EFFECTUATING
Effectuating is actually putting insurance related products
into effect.
45. INSURANCE ACTIVITIES
Insurance activities are performed by Agents, Brokers
and/or Consultants and must be licensed by the
Department of Insurance.
46. MANAGING GENERAL AGENT
A Managing General Agent has the authority to hire new
agents and manage agents on behalf of an
insurer.
47. THE AGENT
The Agent represents the insurer (insurance company) in
the insurance transaction, and has been
contracted by the company to solicit insurance products on
its behalf.
48. CAPTIVE AGENTS VS. INDEPENDENT AGENTS
Captive Agents represent one specific company while
Independent Agents can represent many different
companies.
49. THE BROKER
The Broker is a licensed producer who places insurance
through a company without an agency contract.
Brokers represent the Insured (customers) in the insurance
transaction.
50. INSURANCE CONSULTANT
An Insurance Consultant is a licensed producer who gives
insurance advice for a fee, and can represent
anyone in any insurance transaction, both insurer &
insured, (as long as disclosure is given).
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