Exam FX Life Insurance Test Questions & answers, latest update. Graded A+.

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Exam FX Life Insurance Test Questions & answers, latest update. Graded A+. 50/50 - ?Ans/ Quiz?Ray has an individual major medical policy that requires a coinsurance payment. Ray rarely visits his ... physician and would prefer to pay the lowest premium possible. Which coinsurance arranngement would be best for Ray? Single payment or periodic payments - ?Ans/ Quiz?Which two terms are associated directly with the way an annuity is funded? An insured borrows money from the bank and makes a collateal assignment of a part of the death benefit to secure the loan - ?Ans/ Quiz?All of the following are examples of thirs party ownership of life insurance Reduction of premium - ?Ans/ Quiz?An insured pays $1,200 annually for her life insurance premium. The insured applies this year's $300 worth of accumulated dividends to the next year's premiums, thus reducing it to $900. What option does this describe? Convert to an individual policy - ?Ans/ Quiz?A small company offers group insurance to its employees, but recently has decided to terminate the health insurance contract, leaving the workers without insurance. What can the employees do regarding their insurance? Free-Look period - ?Ans/ Quiz?What phase begins after a new policy is delivered? Revocable - ?Ans/ Quiz?An insured want to name her husband as the beneficiary of her health policy. She also wishes to retain all of the rights of ownership. The insured should have herhusband named as what type of beneficiary? 100 - ?Ans/ Quiz?In order for a debtor group to qualify for group life insurance, what should be the minimum number of participants joining the plan every year Replacement rule - ?Ans/ Quiz?Which rule would apply if an agent knows an applicant is going to cash in an old policy and use the funds to purchase new insurance? Nonforfeiture values - ?Ans/ Quiz?Which term secribes the benefits of a life insurance policy that the policyowner does not automatically relinquish even if the policy lapses? Twisting - ?Ans/ Quiz?Agents who persaude insureds to cancel a policy in favor of another one when it might not be in the insured's best interest are guilty of Certificate holder - ?Ans/ Quiz?If an employee is accepted into a group insurance plan, which status will the employee have? Outline of Coverage - ?Ans/ Quiz?Which document helps ensure that full and fair disclosure is provided to the recipient of a policy? 5 - ?Ans/ Quiz?A licensed agent must complete how many hours of continuing education specific to ethics and regulatory updates? The pre-existing condition waiting period fulfilled in the old policy will be transferred to the ne wpolicy, the new one picking up where the old on left off - ?Ans/ Quiz?An individual purchased a Medicare supplement policy in March and decied to replace it 2 months later. His history of coronary artery disease is considered a pre-existing condition. Which of the following is true? That its policies are covered by a state Guaranty Association - ?Ans/ Quiz?Which of the following may NOT be included in an insurance company's advertisement? The insured over the age of 64 - ?Ans/ Quiz?Who does the secondary addressee provision protect? The insurance contract - ?Ans/ Quiz?Which of the following is an agreement between an insured and an insurer, where the insurer agrees to indemnify the insured for specific losses in exchange for a premium? The individual insured - ?Ans/ Quiz?In a group policy, who is issued a certificate of insurance? No, the group must be formed for a purpose other than obtaining group insurance - ?Ans/ Quiz?Can a group that is formed for the sole purpose of obtaining group insurance qualify for group coverage? $50,000 - ?Ans/ Quiz?An employee will be taxed on the cost of group life insurnace paid by the employer if the amount of coverage exceeds 3 - ?Ans/ Quiz?In this state, long-term care benefits may be triggered by inability to perform how many activities of daily living? If the employee enrolls within a certain time period - ?Ans/ Quiz?Under what conditions will proof of insurability NOT be required of an employee wanting to enroll in a group insurance plan? The date the summary was prepared - ?Ans/ Quiz?Which of the following dates must be contained in a policy summary? Pay dividends to the policyowner - ?Ans/ Quiz?A participating insurance policy may do which of the following? Occupational - ?Ans/ Quiz?An insured has health insurance that covers them at work and at home. This policy was written on what basis? It is a nonprofit that maintains underwriting information on applicants for life and health insurance - ?Ans/ Quiz?Which of the following best describes the MIB? All elgible employees must be covered - ?Ans/ Quiz?Underwriting a group health insurance plan that is paid for by the employer requires ll of the following EXCEPT Is renewable at the option of the insurer to a specified age of the insured - ?Ans/ Quiz?A guaranteed renewable disability insurance policy $50,000 - ?Ans/ Quiz?An individual purchased a $100,000 Joint Life policy on himself and his wife. Eight years later, he dies in an automobile accident. How much will his wife receive from the policy? A master contract - ?Ans/ Quiz?Group health insurance is characterized by all of the following EXCEPT Person, at least 65 years of age, who are blind or disabled and financially unable to pay, may qualify for Medicaid Nursing Home Benefits - ?Ans/ Quiz?All of the following statements concerning Medicaid are correct EXCEPT Increasing term life - ?Ans/ Quiz?Which of the following life insurance policies allows a policyowner to take out a loan from the policy's cash value [Show More]

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