At time of enrollment and annually thereafter

It provides benefits for the loss of a specific part of the body

The assoc is to protect policy holders due to the impairment of the insurer

Answer the routine application questions, obtain any additional information

The employee does not need to provide proof of insurability

Add a newborn child to the policy without providing proof of insurability

Notify the existing insurance company

limit the insurance company claims liability

Workers' Comp is the primary payor (pays first)

Brochure, an untrue statement regarding a competitors ability to pay claims

Conditional receipt was issued so coverage is effective date of app

Similar to a deductible but expressed in terms of time rather than dollars

describe the premium payment schedule

It provides benefits for necessary medical expenses subject to policy limit

It provides medical assistance for participants who are blind

Covered by a qualified High Deductible Health Plan (HDHP)

Policies issued by unauthorized insurers

Insurance producer administrative fund

Any exclusion reductions and limitations on long-term care benefits

Intentionally self-inflicted injuries

Limited lines producer must pay a licensed fee of $50 every year

Notify the producer of the term 30 days before the effective date of term

pay legitimate claims filed against liquidated insurance companies

At the time of the application (before the application)

Applicants be advised that a consumer report may be requested

Producer should explain the policy to the insured so they understand fully

Dependent child enrolled 15 days after being adopted

Conduct examinations of insurance company records

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General and Illinois Insurance Exam

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Questions 76

Answers

1
Q28
Key Person Disability
Transfer Of Ownership
Disability Buy-Sell
Business Overhead Expense
2
Q49
Dismemberment
Grace Period
Disability Buy-sell
Reinstatement
3
Q68
Within 60 days of enrollment
Within 30 days of application
Within 30 days of enrollment
At time of enrollment and annually thereafter
4
Q14
It covers all medical expenses incurred during hospitalization
It provides benefits for the loss of a specific part of the body
It includes coverage for mental health conditions
It offers a lump sum payment for any accident
5
Q63
The assoc is to protect policy holders due to the impairment of the insurer
Coverage is only provided for Illinois residents
IL Attorney General determines the amount of assessments for assoc members
Insur producers must tell each applicant for insur details about the assoc
6
Q16
Answer the routine application questions, obtain any additional information
Advise the prospect to cancel their existing health insurance before apply
Reject the application outright since the prospect already has health insur
Suggest that the prospect wait for a year before applying for any new polic
7
Q45
Applicants be advised that a consumer report may be requested
Pay out a death benefit
Deny the claim only
Pay the claim
8
Q24
The employee must submit a health questionnaire
The employee does not need to provide proof of insurability
The employee must wait for a grace period before conversion
The employee can only convert if they have been employed for over a year
9
Q29
Transfer the policy to another insurance provider
Change the insured to a non-family member
Add a newborn child to the policy without providing proof of insurability
Not pay their deductible
10
Q53
50%
60%
90%
25%
11
Q37
$1,200
$1,000
$500
$400
12
Q60
Give the insured a written replacement notice
Submit a written replacement notice to the replacing insurance company
Ensure that the question regarding replacement is answered by the applicant
Notify the existing insurance company
13
Q42
limit the insurance company claims liability
set the coverage limits for medical expenses
establish the eligibility criteria for new clients
determine the premium rates for policyholders
14
Q22
Retirement
Dismemberment
Survivors
Disability
15
Q54
Leave of absence under FMLA
Active duty in the US military
Medicare eligibility
Birth of a dependent
16
Q20
Works Comp
Tricare
Medicare
Disability Buy-sell
17
Q25
Workers' Comp is the primary payor (pays first)
Workers' comp only covers partial expenses after the major medical plan
Both plans share the costs equally from the start
The major medical plan pays first regardless of the situation
18
Q67
Truthful estimate of the dividends
Brochure, an untrue statement regarding a competitors ability to pay claims
Pamphlet listing a competitive financial rating
Verbal statement of a competitive complaint ratio
19
Q41
The insured must wait for 30 days before coverage begins
Conditional receipt was issued so coverage is effective date of app
The application is automatically rejected if the premium is collected
Coverage is only effective after the first premium is paid
20
Q30
The total amount the insurer will pay for a policy year
A fixed amount that the insured must pay for each claim
Similar to a deductible but expressed in terms of time rather than dollars
A fee charged for late payments on the policy
21
Q44
Adjust benefits
Adjust premiums
Increase premium
The policy is in force
22
Q5
$100,000
$300,000
$200,000
$50,000
23
Q10
describe the premium payment schedule
specify the conditions under which benefits are payable
list the insured individuals under the policy
outline the exclusions of the policy
24
Q61
Long-term care
Basic dental
Vision
Disability income
25
Q18
It is only applicable to emergency medical situations
It provides benefits for necessary medical expenses subject to policy limit
It excludes coverage for outpatient services
It covers all medical expenses without any limits
26
Q36
Cover the loss
Pay the claim
Deny the claim
Attempt to recover the claim payment
27
Q50
Marital status
Income
Age
Credit status
28
Q9
It provides housing assistance for the elderly
It provides medical assistance for participants who are blind
It is a program for individuals with high incomes
It only covers dental expenses for low-income families
29
Q47
Enrolled in a standard health insurance plan
Covered under an employer plan
Covered by a qualified High Deductible Health Plan (HDHP)
Receiving government assistance for healthcare
30
Q56
Policies issued by unauthorized insurers
Long-term care policies
Medicare supplement policies
Annuity contracts
31
Q71
Life and health insurance guaranty association
Joint underwriting association
Illinois General revenues fund
Insurance producer administrative fund
32
Q76
A list of local nursing homes
Statement with the LTC benefits, don't interact with other parts of policy
Any exclusion reductions and limitations on long-term care benefits
Prohibit to funding LTC benefits through an acceleration of a death benefit
33
Q17
Routine examination costs
Hospital visit
Surgically removing a facial birthmark
Intentionally self-inflicted injuries
34
Q3
When it is prohibited by law
If the family requests to avoid the procedure
In cases of natural causes without foul play
When the deceased has a pre-existing condition
35
Q62
Limited lines producer must pay a licensed fee of $50 every year
Producer who is a resident of another state must pay a license fee $150/yr
Exam fees are refundable if canceled at least 72 hours prior to the exam
Fee for a business entity license is $250 every two years
36
Q66
2
4
3
1
37
Q6
Transfer the producer's clients to another agent without informing them
Notify the producer of the term 30 days before the effective date of term
Immediately terminate the producer's appointment without any prior notice
Offer the producer a bonus for their service before termination
38
Q38
Staff, rent, and utilities
Buying out a disabled partner
Basic hospital insurance
Loss of income for the business owner
39
Q73
Be at least 21 years of age
Have completed a pre-licensing course
Have a good business reputation
Have an acceptable bond unless exempt
40
Q8
Life
Death
Alzheimer's disease
Dementia
41
Q21
regulate the pricing of insurance premiums across all companies
pay legitimate claims filed against liquidated insurance companies
provide financial assistance to policyholders of active insurance companies
invest in new insurance companies to increase market competition
42
Q39
Chemotherapy
Physical Therapy
Immunotherapy
Radiotherapy
43
Q12
At the time of the application (before the application)
After the application is submitted
Only when the policy is issued
At the first premium payment
44
Q34
Entire Contract Clause
Covered by a qualified High Deductible Health Plan (HDHP)
Similar to a deductible but expressed in terms of time
Applicants be advised that a consumer report may be requested
45
Q27
K's Estate
J only
L's Estate
L's Spouse
46
Q31
Hospitalization
Elective Surgery
Emergency Services
Mental Health
47
Q33
Producer should explain the policy to the insured so they understand fully
The insured must read the policy on their own without assistance
The insured is not required to understand the policy before signing
The producer should only provide the policy documents without explanation
48
Q72
New employee who didn't enroll for insurance because they'd never been sick
10 year employee who lost covered under their spouses plan
Dependent child enrolled 15 days after being adopted
New employee with a pre-existing condition enrolling at the first time
49
Q32
At least 12 months
No more than 6 months
Exactly 24 months
For an indefinite period without any specific duration
50
Q48
Calendar day design
Working day design
The policy is in force
Basic hospital insurance
51
Q65
Adjust insurance claims
Issue insurance policies to Illinois residents
License independent adjusters
Conduct examinations of insurance company records
52
Q1
The policy is in force
Deny the claim
The cash value of the policy equals the face amount
Secondary addresses
53
Q58
Using portion of $ to help applicant pay for insurance so they can afford
Not accurately describing guaranteed elements of a life insurance policy.
Agreements between insurers, not to offer coverage in a defined areas
Attempt to replace coverage written by other producer within 1 yr of issue
54
Q52
Basic Hospital insurance
Basic Surgical
Basic Medical
HMO
55
Q15
Only available for key employees
Taxable to the employee
Tax-deductible by the employer
Taxable to the employer
56
Q40
Be at least 65 years old
Live in a nursing home or assisted living facility
Have a private insurance plan
Be enrolled in Part A & Part B
57
Q43
The insured's ability to choose any healthcare provider
Insurers right to require the insured to share a certain % of each claim
The insurance company's right to deny all claims
Similar to a deductible but expressed in terms of time rather than dollars
58
Q26
A prospect's statement on an application that is held to be true
A false statement made by the applicant
A summary of the policy benefits and exclusions
An official document provided by the insurance company
59
Q57
Cash receipts register
Monthly financial institution account reconciliation
Personal financial account
Cash disbursement register
60
Q51
Details of the insured's medical history
Exclusions and limitations of the policy
List of covered medical procedures
Schedule and amount of premium payments
61
Q74
Direct mail, brochure, announcing free insurance advice
Newspaper notice announcing specific health insurance plans
Billboard announcing an insurance company's no new accident/health policy
Employer bulletin, announcing the availability of coverage for employees
62
Q75
Providing claim forms 11 days after an insured request them
Attempt to settle claims on basis of an app that was altered w/o consent
Denying a claim after a proof of loss statement has been submitted.
Annoyingly misrepresenting information to claim about coverage for a claim
63
Q2
A stroke
Loss of life due to heart attack
Loss of eyesight due to an accidental injury
Loss of Spleen
64
Q64
Insurance producer license
No license
Temporary license
Limited insurance representative license
65
Q70
30
10
60
90
66
Q13
marital status
additional death benefits
tax incentives
monthly income
67
Q19
prescription medications and over-the-counter drugs
dental check-ups and orthodontic treatments
hospital stays and surgical procedures
eye exams, lenses, frames, and contact lenses
68
Q59
Claim forms
Binder
Outline of coverage
Copy of the policy
69
Q69
10
14
30
5
70
Q23
One Week
One Year
One Month
Six Months
71
Q35
Employee's Spouse
Doctor with an assignment of benefits
Employer
Insured / Policyowner
72
Q7
Marital Status
Residual Disability
Individual Disability
Partial Disability
73
Q55
Inflation protection information
Death benefit
Beneficiary provision
Renew or continuation provision
74
Q11
It is a private insurance plan for individuals under 65
It is a federal hospital and medical expense insurance program
It covers only prescription drug costs
It is solely for long-term care services
75
Q46
Consideration Clause
Case Management
Entire Contract Clause
Insuring Clause
76
Q4
Notice of Claim
Payment of Claims
Proof of Loss
Notice of Loss

General and Illinois Insurance Exam Flashcards | StudBud