A corporation has key-person life insurance on its president. If the president dies, which of the following statements would be CORRECT?
This type of risk has the possibility of gain or loss and is not an insurable risk by insurance companies
Steven, age 53, purchased a disability income policy when he was 33. When he applied for the policy, he stated his age as 23 on the application. Steven submits a claim and the insurance company discovers the error. What action will the insurance company take?
Prior to passage of the Affordable Care Act, insurers could go back to the date a health insurance policy became effective and render the policy void due to a clerical error. This practice, which is prohibited under the Affordable Care Act except in cases of fraud or intentional misrepresentation of a material fact, is called
Which provision in a health insurance policy allows a claim to be denied due to the insured being intoxicated or under the influence of narcotics?
This allows insurers to predict any future claims with a little more accuracy, and applies to groups of people, not individuals
If a policy requires the payment of an additional premium for the continuation of coverage for a newborn, the insurer must be notified within 31 days of the ______.
When an insurance company voluntarily gives up their own rights to get information that they are entitled to, this is known as a
Individual medical expense insurance sold in the Health Insurance Marketplace is characterized by which of the following?
It was claimed in the great Chicago fire that Mrs. Leary’s cow kicked over a lantern that set fire to the barn and spread throughout the city. The fire in this case would be considered:
In which of the following types of health insurance policies is the change of occupation provision particularly important?
Which of the following uses life insurance death benefits to provide financial support for dependents when the primary wage earner dies?
Mr green leaves his car running while he goes inside to finish getting ready for work. this is considered a
All of the following are the types of term insurance depending on how the face amount changes during the policy term EXCEPT
Anna has a contract that includes the Non-Emergency Hospital Preauthorization Admissions Provision. For a scheduled hospital stay, she must first get preauthorization through her insurer. If she does not, the insurer may:
Which of the following rate determination methods would allow a premium credit if the insured has a loss control program in place?
Which of the following statements regarding health care expenditures in the United States is (are) true?
If the Commissioner is scheduling a hearing for a potential violation of the Insurance Code, what is the minimum required notice?
If Mr. Stanley is injured while attempting to escape from the police after committing a bank robbery, his A & H coverage will probably pay:
K and R’s home was insured for $75,000 and had a $60,000 loss by fire. It is determined that the actual value to replace the home is $100,000. If the home is repaired for the full $60,000, what provision did the policy most likely have?
If the insurer cancels a health insurance policy during the middle of the policy term, how will the premiums be returned to the policyholder?
One provision of the Affordable Care Act is designed to benefit young adults up to age 26. This provision allows these young adults to
A commercial insurer who reimburses insureds for medical expenses they incur is known as what type of a provider?
The average earnings clause for health insurance policies states that an insurer may not reduce total monthly benefits to less than:
The authority that a producer seems to have that is based upon certain actions that the producer takes is known as ____ authority.
The Affordable Care Act requires that most U.S. citizens and legal residents have qualifying health insurance or pay a financial penalty. This provision of the Affordable Care Act is known as the
Your customer doesn’t mind paying a higher premium as long as he gets a life insurance product that would allow for a faster growth of the cash value. What kind of policy would you recommend?
Which health provision states, “The insurer is not liable for any loss or injury in consequence of the insured’s being intoxicated or under the influence of any narcotic unless administered on the advice of a physician?”
Arizona resident producers must complete ___ hours of continuing education every four years, ____ of which must be related to ethics.
If there are changes to an insurance application due to an error in information, who must initial the corrections?
Keith sells and repairs brass and woodwind instruments. Which of the following coverages would cover damages if some of his customers’ items were damaged while Keith had them in his storage room?
