Download TX General Lines Life & Health TEXAS Exam with 100% correct Answers and more Exams Personal Health in PDF only on Docsity!
TX General Lines Life & Health TEXAS
A corporation hires a new president. Concerned about losing him in an accident or to an illness, All of these would be true except? - ✔✔The employee picks the beneficiary A couple has a major medical policy. The wife has a heart attack on July 20th And goes to the hospital.On August 15 the husband Notices the monthly payment on his policy Hasn't been paid since May. how will the insurer handle the claim? - ✔✔Deny the claim A false statement in an application is - ✔✔Misrepresentation A father buys and owns a life insurance policy on his 18 year old son. Who has to sign the application? - ✔✔father and son A grandparent purchases a life insurance policy on her granddaughter With the approval of parents. The grandparent is the owner and the premium Payor. This would be an example of? - ✔✔Third-party ownership A major medical policy will pay for all the following EXCEPT? - ✔✔Car accident injury when the insured stole the vehicle
A Medicare Supplement Policy must include, as a core benefit, Medicare Part B coinsurance in the amount of _______. - ✔✔20% A nurse works for a doctor. The doctor becomes disabled. The nurse will still receive her pay due to which policy? - ✔✔Business overhead disability A person has their toe accidentally cut off With a lawnmower. How much for a $10,000 accidental Death and dismemberment policy pay? - ✔✔$ A person induces another person to buy a life policy And immediately sell it for a quick profit. this is known as what? - ✔✔Stranger originated life insurance A person is shot while committing a crime. What will the health insurer do? - ✔✔Pay none of the hospital bill A person on medicare has been to the hospital 3 times in 1 year. The medical bills are excessive. Which of these would help? - ✔✔Medicare supplement A person requesting a temporary license must have how many hours of supervised training? - ✔✔ 40
Aaron has a life insurance policy On himself with his wife Beth listed as the primary beneficiary And his oldest son Carter listed as his contingent beneficiary. Aaron has other children Younger than Carter. Both Carter and Beth die before Aaron. Where will the money go? - ✔✔The estate of Aaron According to the Affordable Care Act all of these would be eligible for a catastrophic health plan EXCEPT? - ✔✔Those who can't afford insurance According to the Affordable Care Act, where do people go to find health coverage? - ✔✔Health insurance marketplace According to the fair credit reporting act When must the applicant be informed Of obtaining a credit report In the underwriting of a policy? - ✔✔At the time of application Adjustable life allows the policyowner to do all of the following, EXCEPT? - ✔✔Change the insured After an investigation, an insurer denies a false claim. The insurer must:
- ✔✔Provide a reasonable explanation
All of the filling are true about COBRA EXCEPT? - ✔✔Provides continuation of coverage for 36 months for those who lost benefits due to reduction of hours to part time. All of the following are eligible to participate in a Keogh Plan EXCEPT? - ✔✔Silent partner All of the following are not competent to enter into a contract ACCEPT?
- ✔✔75 year old unemployed person All of the following are prohibited provisions in a long-term care policy, except: - ✔✔Cancelling a policy due to nonpayment of premium All of the following are true regarding and changes made to insurance policies, EXCEPT? - ✔✔The agent can sign and approve the change All of these are payment modes for health insurance except? - ✔✔single premium All of these could be used to deny a person a life insurance policy EXCEPT? - ✔✔Gender All of these would be used to determine Premium for an individual disability income policy EXCEPT? - ✔✔Job title
An insured has $6000 in medical expenses. In a policy with a $ deductible an 80%/20% coinsurance for the first $5000 then 100% after that. How much will the insurer pay? - ✔✔$ An insurer has its home office in California. To its business in Rhode Island. It would be? - ✔✔Admitted And employee has short term disability benefits available through their employer. An injury on the job causes the Employee to become disabled. Which of these supplies? - ✔✔The Worker's Compensation policy will pay As statement on a proof of loss or on an application which is guaranteed to be true in all respect and if found to be false could void the contract would be called? - ✔✔Warranty Basic medical expense plan Pays for benefits how? - ✔✔As per policy schedule & Less than full charge. COBRA would cover dependents of an employee for how long after death of the employee? - ✔✔36 months Core benefits of medicare supplement policies cover the first ______ pints of blood? - ✔✔ 3
Cost sharing feature and is stated As a percentage of sharing between the insurer, the insured, such as 80%/20% or 70%/30%? - ✔✔Coinsurance Credit life is insurance for which of these? - ✔✔Insurance on the life of the debtor Credit life uses what type of insurance? - ✔✔Decreasing term Employees in a group life insurance plan would find Information about their benefits in? - ✔✔Certificate of insurance Employer paid premiums In a group life policy are taxable to? - ✔✔The employee if The death benefit excludes $50, Every long term care policy must provide a how many day free look period from the date the policy is delivered? - ✔✔30 days For most people who qualify thru social security , which of the following Medicare plans does not require additional premium? - ✔✔Part A Gambling and investing in the stock market are known as what type of risk? - ✔✔Speculative Risk
How are minors paid in a life insurance beneficiary policy? - ✔✔The money is put into a trust How do PPOs save consumers in their health care costs? - ✔✔They charge patients within the PPO less than those who are not in the PPO How long can the reinstatement period be in a life insurance policy? - ✔✔5 years How long is the grace period in an individual Life Insurance policy in Texas? - ✔✔31 days How many continuing education hours must be completed in the classroom or by classroom equivalent? - ✔✔ 12 How many hours of continuing education hours must be ethics per renewal period? - ✔✔ 2 HSA's are only available to these people? - ✔✔People who have high deductible health plans I will an insurer And a claim in a life policy And a person who lied about their age and was actually older? - ✔✔The insurer will reduce the death
benefit To what the premiums paid would have purchased at the correct age If a child is covered under more than one group health insurance plan how is it determined which carrier is primary? - ✔✔The plan covering the parent whose birthday occurs first in the calendar year will be the children's primary coverage If a life insurance policy is funded too quickly it will be classified as a? - ✔✔Modified Endowment Contract If a person pays their premiums annually for a disability income policy and on the 31st day of the grace period, the person has a disability accident and files a claim immediately. How will the insurer handle this claim? - ✔✔Claim paid minus annual premium If an applicant or insured Discovers errors in their credit report The fair credit reporting act Requires the following to correct the report? - ✔✔Credit reporting agency If an insurer accepts an incomplete application and issues the policy, what must they do? - ✔✔Honor the policy
In which of the following could the face amount and or premium Be changed? - ✔✔Variable universal life In which of the following policies is the cash value in the policy invested in stocks and/or bonds? - ✔✔Variable Life In which of the following policies is the entire cost Of the policy paid at the time of purchase? - ✔✔Single premium whole life In which of these settlement options for life insurance would the death benefit not be paid out over a period of time? - ✔✔Interest Only In which policy does the premium and face amount Remain level all the way to the age of 100? - ✔✔Straight whole life In which policy will the Automatic Premium Loan not apply? - ✔✔Term In which retirement plan, if the employer puts money in his own account must he also put money in his employee's accounts? - ✔✔SEP K & M are expecting a baby. They want a life insurance policy on M for $250,000 and for 20 years. Which policy would be the best policy for them? - ✔✔ 20 - year level term
Karen pay his premium on her own disability income policy. How much will she have to pay in taxes For the benefits should she become disabled? - ✔✔0% income tax Lisa has a debt and purchases A credit life policy. What does it do? - ✔✔Pay Lisa's loan at lisa's death Lorraine's position has been terminated And she is interested in converting her group life Coverage to an individual policy. In the process she will find all of the following to be true except? - ✔✔She will be converting her group term benefit To an individual term benefit Martin is an important person in Paul's business. Paul buys a life insurance policy on Martin. called a key person. The policy does which of these? - ✔✔Pays Paul upon Martin's death MIB obtains their medical information on a proposed applicant from which of these sources? - ✔✔Other insurers Misstatement of age or gender on the application will result in? - ✔✔Death benefit paid adjusted to fit true age or gender Naha has a Long-Term Care policy which the insurer cannot increase the premiums unless doing so to the whole class and not cancelable to age 65. It would be which of these? - ✔✔Guaranteed Renewable
Paula has a life policy with her mother listed as her primary beneficiary. Paula marries and changes the OWNERSHIP on her policy to her spouse. Paula later dies without making any changes. Who will receive death proceeds? - ✔✔Mother Penelope wants a life policy With quick cash value accumulation. Which policy should the producer recommend? - ✔✔20 pay limited life Premiums paid by the employer in a group plan are? - ✔✔Tax deductible by the employer as a business expense Product designed to provide coverage for necessary diagnostic, therapeutic, rehabilitative, maintenance, or personal care services provided in a setting other than a hospital. - ✔✔Long term care Providers paid on a capitation system Or what type of healthcare system? - ✔✔HMO Providers that are paid on a fee for service Bases are part of what arrangement? - ✔✔PPO Reagan is disabled and finds that she is temporarily Unable to perform her own job Nor any job she is reasonably trained for. This would be an example of? - ✔✔Total disability
Reinstatement requires which is the following? - ✔✔The insured pay back premiums, interest, and prove insurability S and W are partners in a business. They both buy and own policies on the other. 3 years later the business dissolves. S and W are both married. They don't change the beneficiaries on the policies. They no longer have insurable interest on each other. 5 months later S dies, who will receive the proceeds? - ✔✔W Social Security offers all of the EXCEPT? - ✔✔Dismemberment Statement made in an application for life insurance which is substantially true would be considered? - ✔✔Representation Statements made in the application and what else are the applicant's consideration in a health insurance policy? - ✔✔Initial Premium Statements made on a claim form or an application for insurance that are believed to be true are? - ✔✔Representations Statements made on the application that are believed to be true to the best of the applicants knowledge are? - ✔✔Representations
The policy which offers the greatest amount of coverage, for the least amount of initial premium is? - ✔✔Term Policy The right to continue a life policy on a specific date Without having to prove good health Or insurability is which of the following? - ✔✔Renewable The systematic liquidation of funds Is the primary function of? - ✔✔Annuity The time limit on certain defenses period is ____ years under individual health and disability contracts? - ✔✔2 years What do settlement options do in a life insurance policy? - ✔✔determines how death proceeds are paid After the death of the insured. What does the Legal Actions Provisions in health insurance do? - ✔✔Allows insurer time to with hold payment of claim payment due What happens if a person returns a policy during the free look period? - ✔✔A full refund of all premiums paid is returned
What happens to the cash values in A whole life policy if the insured is disabled A&E waiver of the premium rider becomes active? - ✔✔Cash value and dividends Continue to increase just as if The regular premium payments have been made What is not used to determine Premium in a disability income policy? - ✔✔Spouses occupation What is the form called that must be submitted for payment after loss?
- ✔✔Proof of loss What is the minimum coverage For long-term care policy in Texas - ✔✔12 Months What is the minimum number of employees to be eligible for COBRA coverage? - ✔✔ 20 What is the plan called when employees must pay part of the premium? - ✔✔Contributory What program pays benefits based upon PIA? - ✔✔Social security disability income
