Question 1

Which of the following are the most basic forms of health insurance?
I.HMO
II.Hospital expense
III.PPO
IV.Physician's expense

Accepted Answer

A)  I,II
B)  II,III
C)  II,IV
D)  I,IIIE) C) and D)
F) None of the above C

Question 2

How many different options are there available for the payment of life insurance proceeds for a death claim to the designated beneficiary?

Accepted Answer

A)  Three.
B)  Five.
C)  Seven.
D)  Eleven.E) A) and D)
F) B) and D)

Question 3

The sale of a life insurance contract to a third party for a value in excess of the contract's cash surrender value,but less than the contract's death benefit is a:

Accepted Answer

A)  Accelerated Benefit Rider.
B)  Guaranteed purchase option rider.
C)  Life Settlement.
D)  Viatical Settlement.E) All of the above
F) B) and C)

Question 4

"Interest Only" is a:

Accepted Answer

A)  Advanced Death Benefit.
B)  Fixed Amount.
C)  Nonforfeiture Option.
D)  Settlement Option.E) B) and D)
F) A) and B) D

Question 5

Health Flexible Spending Arrangements are funded by:

Accepted Answer

A)  Employee salary reductions only.
B)  Employer contributions only.
C)  Employee salary reductions or employer contribution,but not both.
D)  Employee salary reductions,employer contributions,or a combination of both.E) A) and D)
F) A) and C)

Question 6

Universal and variable universal life policies have two types of disability riders.The riders are:

Accepted Answer

A)  Waiver of mortality charges and waiver of premium.
B)  Waiver of mortality expenses and waiver of scheduled premium.
C)  Waiver of expense charges and waiver of mortality premium.
D)  Waiver of scheduled charges and waiver of scheduled premium.E) All of the above
F) A) and D)

Question 7

Which of the following is not a nonforfeiture option?

Accepted Answer

A)  Cash Surrender.
B)  Extended loan.
C)  Extended Term.
D)  Reduced Paid-up.E) B) and C)
F) A) and D) B

Exam 8: Insurance Planning Basics

Which of the following are the most basic forms of health insurance? I.HMO II.Hospital expense III.PPO IV.Physician's expense

Correct Answer
verified
C

How many different options are there available for the payment of life insurance proceeds for a death claim to the designated beneficiary?

Correct Answer
verified

The sale of a life insurance contract to a third party for a value in excess of the contract's cash surrender value,but less than the contract's death benefit is a:

Correct Answer
verified

"Interest Only" is a:

Correct Answer
verified
D

Health Flexible Spending Arrangements are funded by:

Correct Answer
verified

Universal and variable universal life policies have two types of disability riders.The riders are:

Correct Answer
verified

Which of the following is not a nonforfeiture option?

Correct Answer
verified
B

Exam 8: Insurance Planning Basics

Which of the following are the most basic forms of health insurance? I.HMO II.Hospital expense III.PPO IV.Physician's expense

Correct AnswerverifiedC

How many different options are there available for the payment of life insurance proceeds for a death claim to the designated beneficiary?

Correct AnswerverifiedShow Answer

The sale of a life insurance contract to a third party for a value in excess of the contract's cash surrender value,but less than the contract's death benefit is a:

Correct AnswerverifiedShow Answer

"Interest Only" is a:

Correct AnswerverifiedD

Health Flexible Spending Arrangements are funded by:

Correct AnswerverifiedShow Answer

Universal and variable universal life policies have two types of disability riders.The riders are:

Correct AnswerverifiedShow Answer

Which of the following is not a nonforfeiture option?

Correct AnswerverifiedB

Correct Answer
verified
C

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
D

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
B