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Question 1 of 10
1. Question
Which of the following statement is true for life insurance?
Correct
A life insurance policy guarantees a sum of money to the beneficiaries of the deceased.
Incorrect
A life insurance policy guarantees a sum of money to the beneficiaries of the deceased.
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Question 2 of 10
2. Question
What is an underwriter’s job?
Correct
An underwriter will not be expected to foresee all of the possible circumstances of the client.
Incorrect
An underwriter will not be expected to foresee all of the possible circumstances of the client.
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Question 3 of 10
3. Question
Calculate the net periodic premium (NPP). Given: Ax=.9 and ax=0.01.
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Question 4 of 10
4. Question
In NSP computation, What is the Ax if λ=0.15 and r=0.05?
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Question 5 of 10
5. Question
If a patient suffers from cancer, what would be the most optimal option for the patient regarding health insurance?
Correct
The dread disease policy offers a lower price than full health insurance since it is only applicable for diseases with high rarety.
Incorrect
The dread disease policy offers a lower price than full health insurance since it is only applicable for diseases with high rarety.
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Question 6 of 10
6. Question
In vision care insurance, which of the following has a coverage of 100%?
Correct
The most common exclusion in vision insurance is the medical and surgical costs
Incorrect
The most common exclusion in vision insurance is the medical and surgical costs
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Question 7 of 10
7. Question
When does the credit insurance cover a debt by the insured?
Correct
A 100 debtor minimum is required for a creditor before it qualifies for a group credit insurance.
Incorrect
A 100 debtor minimum is required for a creditor before it qualifies for a group credit insurance.
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Question 8 of 10
8. Question
Which of the statement below best describes the difference between comprehensive and prepaid dental plans?
Correct
In capitation basis payment, the attending physician receives the payment monthly.
Incorrect
In capitation basis payment, the attending physician receives the payment monthly.
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Question 9 of 10
9. Question
The general exclusion in prescription drug policies is?
Correct
Experimental drugs are typically excluded because there is a risk or uncertainty in using them.
Incorrect
Experimental drugs are typically excluded because there is a risk or uncertainty in using them.
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Question 10 of 10
10. Question
The debtor must be notified by the creditor when the debtor may be included in a group insurance plan.
Correct
The creditor is obliged to pay the premium if the debtor chooses a group plan.
Incorrect
The creditor is obliged to pay the premium if the debtor chooses a group plan.