Social Sciences > QUESTIONS & ANSWERS > Insurance Exam Questions and 100% Correct Answers (All)
Insurance Exam Questions and 100% Correct Answers
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1. With a Straight Life policy, what happens if the insured lives to age 100 Ans: The policy matures and the cash value is paid to the insured. 2. Most policies will pay the accident death benefit... s as long as the death is caused by the accident and occurs within Ans: 90 days. 3. What is the maximum period of coverage under COBRA? Ans: 36 months 4. An insured has chosen joint and 2/3 survivor as the settlement option. What does this mean to the beneficiaries? Ans: The surviving beneficiary will continue receiving 2/3 of the benefit paid when the insured was alive. 5. What percentage of individually-owned disability income is taxable? Ans: 0% 6. How are the variable annuities regulated? Ans: By state and federal agencies 7. An insured committed suicide 6 months after his life insurance policy was issued. The insurer will Ans: Refund the premiums paid. 8. Which of the following conditions would a disability income policy most likely NOT require in order to qualify for benefits? Ans: A specified income status prior to the disability 9. In Pennsylvania, a "pre-existing condition" is defined as a disease or condition for which medical attention was received at least Ans: 90 days prior to the effective date of coverage. 10. An insured was involved in an accident and could not perform her current job for 3 years. If the insured could reasonably perform another job utilizing similar skills after 1 month, for how long would she be receiving benefits under an "own occupation" disability plan? Ans: 2 years 11. After a person's employment is terminated, it is possible to obtain individual health insurance after losing the group health coverage provided by the employer. Which of the following is NOT true? Ans: By law, the new, individual policy must provide the same benefits as the group insurance policy. 12. Amanda is scheduled for a root canal. Which type of treatment is this? Ans: Endodontics 13. Which of the following is deemed to be consideration on the part of the applicant, in respect to the Consideration Clause? Ans: Payment of premium 14. As it pertains to group health insurance, COBRA stipulates that Ans: Group coverage must be extended for terminated employees up to a certain period of time at the former employee's expense. [Show More]
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