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Life License-Test#3

Part 4

QuestionAnswer
91. a parent who lives at home is being cared for by an adult daughter on a full time basis. Which of following would provide care if daughter needs a period of separation? respite care
92. in health insurance, persistency is important for all of following reasons, except: each year that the policy is in force a large number of insureds will use the benefits
93. which of following could be used to pay off the mortgage on a home, providing a death benefit that equals the amount of outstanding debt on the home, no more and no less? decreasing term insurance
94. agents must act on behalf of their clients in such a way that uphold their "fiduciary duty." The best example of this duty is: quickly sending an insured's premium to the home office
95. what does the phrase "life insurance creates an immediate estate" mean? the total death benefit will be paid to a beneficiary on the death of the insured
96. Every insurer offering individual life insurance policies or annuities to senior citizens that use non-guaranteed elements in illustrations must provide a statement to that effect. Which of following is correct regarding this statement? non-guaranteed elements must be in bold print
97. the type of Universal Life plan where the purely fixed interest rate of the cash value is replaced by one allowing the insured to choose from a variety of investment vehicles is which of the following? Flexible Premium Variable Life
98. The usual amt of death benefit in an Industrial Life insurance policy is: less than $2000
99. in which of following qualified pension plans are benefits linked to the employee's years of service and/or amount of compensation? defined benefit plan
100. an agent who acts as an insurance agent, broker, solicitor, life agent, or bail agent, acts in which capacity when handling premiums or return premiums for an insured? fiduciary
101. which of following allows employees to share in the financial success of the company? profit-sharing plan
102. which begins automatically at age 65? Medicare Part A
103. life insurance illustrations showing premiums, values, credits or charges that are NOT determined at issue demonstrate: non-guaranteed elements
104. at what age can a widow with adult children that have left home claim Social Security survivors benefits? 60
105. in a group life policy with a death benefit of more than $50,000: premium cost for insurance above $50,000 is taxable as income to the insured
106. any insurer that provides claim forms must include which of the following statements? "For your protection CA law requires the following to appear on this form: Any person who knowingly presents false or fraudulent claim for the payment of a loss is guilty of a crime and may be subject to fines and confinement in state prison."
107. if, during the free-look period, a person surrenders a variable annuity invested in mutual funds they will receive which of the following? account value
108. when an insurer presents an illustration for life insurance, all of following are prohibited, except: using the insurer's "disciplined current scale" in the illustration
109. Husband for ABC, wife for XYZ. Each has group health insurance coverage, also insures their spouse. Both have a coordination of benefits clause. Which is true regarding coord. of benefits clause for medical services covered by the group policies? the husband receives medical care. XYZ group group insurer is secondary
110. in a group life plan, unmarried children may be covered as dependents until age: 19
111. the federal law known as COBRA does which of following? allowing for, and providing protection of ex-employees, as well as their dependents by providing them the same conversion and extension benefits for group health insurance benefits as those given to existing employees
112. a person age 40 but has claimed that they are 35 on life insurance application form is given a premium rate of $8/$1000 instead of $10/$1000. The insurer can adjust the death benefit using which formula? 8/10 x face amount
113. which of following conditions would NOT be included among the chronic illness triggers of a LTC policy? deafness
114. which of following as used in the insurance code implies mandatory? shall
115. what does a stop-loss provision in a medical expense insurance plan set a maximum for? the limit of out-of-pocket expense payments covered each year under a policy
116. all of following statements about the gatekeeper system are true, except: the insured must utilize their primary physicians who authorize all care for the insured
117. every admitted insurer in the state of CA is required to maintain a unit or division to investigate which of following? possible fraudulent claims made by insureds
118. insurance is defined as a: contract
119. Medicare Part B does/is NOT: cover the expense of virtually all drugs prescribed by a doctor
120. The Pregnancy Discrimination Act has which of following effects? pregnancy must be treated the same as any other condition
Created by: jennyhqs2
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