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Question 1 of 10
1. Question
By the Federal government, The medical expense of a worker at age of 65 is covered by.
Correct
The Federal Government has a special medical insurance program that is called the Medicare program. It covers all the medical expenses at age of 65 or above.
Incorrect
The Federal Government has a special medical insurance program that is called the Medicare program. It covers all the medical expenses at age of 65 or above.
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Question 2 of 10
2. Question
Which statement is true about Medicaid program.
Correct
Medicaid program is initiated by the Federal government to help provide health care benefits to financially poor and needy citizens.
Incorrect
Medicaid program is initiated by the Federal government to help provide health care benefits to financially poor and needy citizens.
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Question 3 of 10
3. Question
Who is an Alien insurer?
Correct
Every person is domicile incorporated of a specific state. Alien insurers are those insured people that start a business in a country where they are no incorporated.
Incorrect
Every person is domicile incorporated of a specific state. Alien insurers are those insured people that start a business in a country where they are no incorporated.
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Question 4 of 10
4. Question
Who are independent insurance producers?
Correct
Independent insurance producers are the persons that sell the insurance products to other clients on a commission basis.
Incorrect
Independent insurance producers are the persons that sell the insurance products to other clients on a commission basis.
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Question 5 of 10
5. Question
A person that works for many insurance companies as a representative for the buyer to the insurers.
Correct
In the agent and client relationship, a broker works as a representative of the client to the insurer.
Incorrect
In the agent and client relationship, a broker works as a representative of the client to the insurer.
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Question 6 of 10
6. Question
Which of the following statements are true?
Correct
The agency has employees that are called agents. Agents work as a representative of the insurance company and authorized persons on their behalf to the insured.
Incorrect
The agency has employees that are called agents. Agents work as a representative of the insurance company and authorized persons on their behalf to the insured.
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Question 7 of 10
7. Question
The authority in which the agent just behaves like he or she has the authority and shows their appearance as a company representative.
Correct
Apparent authority is a type of authority in which a person is not a representative of the company but behaves like he/she is an authorized person of the company.
Incorrect
Apparent authority is a type of authority in which a person is not a representative of the company but behaves like he/she is an authorized person of the company.
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Question 8 of 10
8. Question
In an insurance procedure, who has the fiduciary responsibility?
Correct
In an insurance procedure, the agent has the fiduciary responsibility to collect premiums from the insured on behalf of the insurer.
Incorrect
In an insurance procedure, the agent has the fiduciary responsibility to collect premiums from the insured on behalf of the insurer.
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Question 9 of 10
9. Question
Which statement is true about the fiduciary responsibility of an insurance agent.
Correct
The agent has the fiduciary responsibility to collect all the premiums and is accountable for all the premiums and funds.
Incorrect
The agent has the fiduciary responsibility to collect all the premiums and is accountable for all the premiums and funds.
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Question 10 of 10
10. Question
The scope of INA federal regulation applies to.
Correct
INA federal regulation laws only apply to the state commerce sector.
Incorrect
INA federal regulation laws only apply to the state commerce sector.