Quiz-summary
0 of 10 questions completed
Questions:
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
Information
Free Practice Questions
You have already completed the quiz before. Hence you can not start it again.
Quiz is loading...
You must sign in or sign up to start the quiz.
You have to finish following quiz, to start this quiz:
Results
0 of 10 questions answered correctly
Your time:
Time has elapsed
You have reached 0 of 0 points, (0)
Categories
- Not categorized 0%
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
- Answered
- Review
-
Question 1 of 10
1. Question
Which funding group insurance allows the employer to self-fund health care expenses up to a certain limit?
Correct
Shared funding arrangements let the employer to self-fund health care expenses up to a specific limit. The employer can choose a deductible amount and pay covered expenses for any individual incurring claims up to that maximum, at which point the insurer assumes the risk.
Incorrect
Shared funding arrangements let the employer to self-fund health care expenses up to a specific limit. The employer can choose a deductible amount and pay covered expenses for any individual incurring claims up to that maximum, at which point the insurer assumes the risk.
-
Question 2 of 10
2. Question
Peter’s Book Store and Joseph’s Flower Shop join to build trust to provide their employees’ insurance facilities. This type of grouping is called a
Correct
The multiple employer trust (MET) is the one that forms if multiple individual employers join together to offer group insurance facilities to their employees. In this case, Peter and Joseph join together to offer group insurance to their employees, so it is a case of multiple employer trust (MET).
Incorrect
The multiple employer trust (MET) is the one that forms if multiple individual employers join together to offer group insurance facilities to their employees. In this case, Peter and Joseph join together to offer group insurance to their employees, so it is a case of multiple employer trust (MET).
-
Question 3 of 10
3. Question
Shelly has worked at the boutique shop for more than three years, but she was never involved in any insurance program type. As she decided to join an insurance program now, she requires to go through a medical exam because,
Correct
According to contributory plans, when an employee does not enroll himself in the company’s insurance facility during the initial eligibility period, the insurer would require a medical exam. In Shelly’s case, we can see that her eligibility period has expired, so she needs to go through a medical exam now.
Incorrect
According to contributory plans, when an employee does not enroll himself in the company’s insurance facility during the initial eligibility period, the insurer would require a medical exam. In Shelly’s case, we can see that her eligibility period has expired, so she needs to go through a medical exam now.
-
Question 4 of 10
4. Question
Which of the following option Group Insurance doesn’t necessarily require?
Correct
In Group insurances, Underwriters consider the general group, and no individual underwriting or medical
exams of the covered individuals are required. So, Stringent medical underwriting is not necessary for Group Insurance.Incorrect
In Group insurances, Underwriters consider the general group, and no individual underwriting or medical
exams of the covered individuals are required. So, Stringent medical underwriting is not necessary for Group Insurance. -
Question 5 of 10
5. Question
Which of the following statement about group life insurance conversion is not true?
Correct
The right of conversion permits an insured person covered under the group plan to switch to an individual policy. He or she doesn’t require to remain covered under the group plan forever.
Incorrect
The right of conversion permits an insured person covered under the group plan to switch to an individual policy. He or she doesn’t require to remain covered under the group plan forever.
-
Question 6 of 10
6. Question
John is retired from his job and now wants to enjoy social security retirement benefits. Which of the following condition is a must for him?
Correct
As a retired person, John’s eligibility for social security benefits depends on work credits. Whether he has dependents, a private pension plan, or is eligible for Medicare, it does not matter in terms of enjoying social security benefits.
Incorrect
As a retired person, John’s eligibility for social security benefits depends on work credits. Whether he has dependents, a private pension plan, or is eligible for Medicare, it does not matter in terms of enjoying social security benefits.
-
Question 7 of 10
7. Question
Samantha wants to have a particular amount of dollars available at a certain age, having insurance protection before reaching that age. She should consider buying
Correct
Endowment insurance is a kind of contract that assures a certain amount of dollars at a specific time or age of the client while giving insurance
protection before that time. So Samantha should consider buying Endowment insurance.Incorrect
Endowment insurance is a kind of contract that assures a certain amount of dollars at a specific time or age of the client while giving insurance
protection before that time. So Samantha should consider buying Endowment insurance. -
Question 8 of 10
8. Question
Which of the following statement is incorrect for the double indemnity provision found in life insurance policies?
Correct
The double indemnity provision found in life insurance policies applies only in cases of death by accident. So, only option “A” is the correct answer.
Incorrect
The double indemnity provision found in life insurance policies applies only in cases of death by accident. So, only option “A” is the correct answer.
-
Question 9 of 10
9. Question
The health insurance policy of Nick has lapsed, and it is later reinstated. Now, the reinstated policy will cover the only sickness that begins
Correct
As Nick’s health insurance policy has lapsed and reinstated later, the reinstated policy will cover the only sickness that begins at least 10 days after the date of reinstatement. The reason behind this provision is, a person becoming sick might rein-state the coverage only to claim benefits. However, accidents are covered immediately as accidents cannot be anticipated.
Incorrect
As Nick’s health insurance policy has lapsed and reinstated later, the reinstated policy will cover the only sickness that begins at least 10 days after the date of reinstatement. The reason behind this provision is, a person becoming sick might rein-state the coverage only to claim benefits. However, accidents are covered immediately as accidents cannot be anticipated.
-
Question 10 of 10
10. Question
Which of the following statement is wrong regarding a presumptive disability?
Correct
A disability must be serious enough to be expected to be fatal or to last at least 12 months to be covered under social security. So, examinations to verify the loss will be required only every 2 years.
Incorrect
A disability must be serious enough to be expected to be fatal or to last at least 12 months to be covered under social security. So, examinations to verify the loss will be required only every 2 years.