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Life License-Test#2

Part 5

QuestionAnswer
121. how much continuing education is a new agent who is both life insurance licensed and property and casualty licensed required to complete? 24 hours prior to license renewal for either license
122. a form of rest or relief offered to family members who are caring for a person who requires continual care is: respite care
123. currently insured status is achieved in which of the following ways? accumulated 6 our of the last 13 quarters
124. all of following statements about contingent beneficiaries are true, except: the contingent beneficiary shares death proceeds equally with the primary beneficiary
125. the insured is totally and permanently disabled. The insured's policy continues in force without the payment of a premium because the policy contains a: waiver of premium provision
126. fully insured status is achieved in which of following ways? accumulated 40 quarters
127. definition of incontestability? an insurer is prevented from voiding a policy for misstatements after two years
128. in event of an accidental death, the principal sum in a disability policy will be paid: in one lump sum
129. which of following statements about the HICAP (Health Insurance Counseling Advocacy Program) program is false? provides assistance for a fee based upon ability to pay
130. a measure for rating an individual's need for LTC benefits is called: activities of daily living
131. a health insurance deductible is: the amt of covered expense that the insured pays before the insurer pays
132. all are group health underwriting factors, except: length of the elimination period
133. when terms of a policy are misrepresented by a producer to a client, that producer has committed a: misdemeanor
134. when a licensed agent submits a renewal app with applicable fee on or before the expiration date: the agent will be able to operate for up to 60 days after the specified expiration date
135. what must an insurer do who accepts an app from an agent who is not specifically appointed by that insurer and then issues a policy from that app? forward to the Insurance Commissioner a Notice of Appointment within 14 days of receipt of application
136. common life insurance policy riders include all of the following, except: extended term
137. a $50,000 whole life policy with a cash value of $10,000 has been in force for 11 yrs. The policy owner is unable to continue the premium payments. Which of following describes the Reduced Paid-Up non-forfeiture option? the case value is used to purchase a $20,000 paid-up policy
138. what would we call a representation which fails to correspond with its stipulations or assertions? false
139. the adjustments that an insurer makes in a cash value account in a universal life policy each time a payment is made includes all of the following, except: subtract the policy surrender charges
140. under Social Security, the definition of disability is the inability to engage in: any substantial gainful activity
141. all are group disability income underwriting factors, except: location of the insured business
142. what maximum time period does the insurer have to pay claims after adequate proof of loss has been received? 30 days
143. the insured's policy has a deductible that is applied between the exhaustion of basic plan limits and the commencement of excess coverage. This is called a: corridor deductible
144. what makes up the entire contract in a life insurance policy? the policy, and when attached, the application.
145. what maximum time period does the insurer have to accept or deny claims after adequate proof of loss has been received? 40 days
146. when does the license of a life agent become inactive? when the agent is not currently appointed by an insurer, but renewal fees are paid and continuing education requirements have been met
147. while an insurer is paying the premium for a life insurance policy under the waiver of premium rider: the policy remains in full force in every respect
148. Medicare Part A provides coverage for all of following, except: physicians services
149. which of following is not allowed by code in connection with the sale of Medicare Supplement policies? offer only broader plans
150. Part I of the Workers' Compensation Policy covers payments the employer (insured) must pay: Under Workers' Compensation law
Created by: jennyhqs2
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