All of the following statements are true of a Combination Dental Plan EXCEPT

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All of the following statements are true of a Combination Dental Plan EXCEPT

A. It is basically a combination of a scheduled and nonscheduled dental plan
B. It covers diagnostic and preventive care on the usual, customary, and reasonable basis
C. It uses a fee schedule for other dental services
D. It is also known as the Superimposed Plan

Answer: D. it is also known as the Superimposed Plan

Dental Insurance

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An insured's building has an actual cash value of $200,000, and he has insured the property for $120,000 with an 80% coinsurance clause. A $40,000 loss occurs. How much will the policy pay?

An insured's building has an actual cash value of $200,000, and he has insured the property for $120,000 with an 80% coinsurance clause. A $40,000 loss occurs. How much will the policy pay? a) $0 b) $30,000 c) $32,000 d) $40,000 Answer: B

Jim has been arrested for drunk driving. In order to be allowed out of jail before his court date, Jim will most likely need:

Jim has been arrested for drunk driving. In order to be allowed out of jail before his court date, Jim will most likely need: Answer: A bail bond Jim will most likely need to post bail to be allowed out of jail before his court date. Bail is a set amount of money an arrested individual must pay the court to guarantee they will appear for their scheduled hearings and trial dates. By posting bail, Jim can secure his release from jail pending his court appearances. There are several options for posting bail: Cash Bail : Jim or someone on his behalf can pay the total bail amount in cash directly to the court. Once the case is resolved, the bail money is returned minus any fees or fines imposed by the court. Bail Bond : If Jim or his family cannot afford to pay the full bail amount, they may use a bail bond service. A bail bondsman typically charges a non-refundable fee, usually a percentage of the total bail amount, in exchange for posting the full bail amount on Jim's behalf. Th...

The insured under a $100,000 life insurance policy with a triple indemnity rider for accidental death was killed in a car accident. It was determined that the accident was his fault. The triple indemnity rider in the policy specifies that the death must not be contributed to by the insured in any manner. In this case, what will the policy beneficiary receive?

The insured under a $100,000 life insurance policy with a triple indemnity rider for accidental death was killed in a car accident. It was determined that the accident was his fault. The triple indemnity rider in the policy specifies that the death must not be contributed to by the insured in any manner. In this case, what will the policy beneficiary receive? a) $0 b) $50,000 (50% of the policy value) c) $100,000 d) $300,000 (triple the amount of policy value) Answer: c) $100,000

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The pro rata liability clause is designed to protect the principle of
What does the Group Life underwriting risk selection process help protect insurance companies from?
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All of the following could own group life insurance EXCEPT
Fixed annuities provide each of the following EXCEPT
What is the purpose of establishing the target premium for a universal life policy?
A domestic insurer issuing variable contracts must establish one or more
All of the following statements concerning the use of life insurance as an Executive Bonus are correct EXCEPT
All of these statements about the Waiver of Premium provision are correct EXCEPT
Which of the following best defines target premium in a universal life policy?
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A beneficiary change can occur
No existing agent's license will be revoked until
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The pro rata liability clause is designed to protect the principle of
The two major actions required for a policyholder to comply with the Reinstatement Clause are
Life insurance policies will normally pay for losses arising from
Which of the following statements regarding the taxation of Modified Endowment Contracts is FALSE
Ambiguities in an insurance policy are always resolved in favor of the
In an insurance contract, the applicant's "consideration" is the
Agents may be found guilty of defamation if they make a false statement that is intended to?
How many pair of glasses in a 12-month period will a vision expense insurance plan cover?
The voluntary relinquishment of a legal right is called
What documentation grants express authority to an agent?
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All of the following statements are true regarding installments for a fixed amount EXCEPT
Fraternal Benefit Society has each of the following characteristics EXCEPT
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Agents who persuade insureds to cancel a policy in favor of another one when it might not be in the insured's best interest are guilty of:
A securities license is required for a life insurance producer to sell
Which of the following statements about accumulated interest earned on dividends from an insurance policy is TRUE?
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All of the following are true regarding a decreasing term policy EXCEPT
Purchasing a life insurance policy in order to avoid the forced sale of assets upon death is called
Health insurance will typically cover which of the following perils?
Simon has purchased a fixed immediate annuity. His payment amount will be dependent upon principal, interest, and the contract's
Insurable interest does NOT occur in which of the following relationships?
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The authority granted to a licensed producer is provided via the
All of the following are examples of a Business Continuation Plan EXCEPT
Which of these would be the best example of a limited pay life insurance policy?
All of the following entities regulate variable life policies EXCEPT
The pro rata liability clause is designed to protect the principle of
When the principal gives the agent authority in writing, it's referred to as
What is the benefit of choosing extended term as a nonforfeiture option?
All of the following are TRUE regarding the convertibility option under a term life insurance policy EXCEPT
All of the following statements concerning dividends are true EXCEPT:
All of the following are true regarding rebates EXCEPT
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All of the following are elements of an insurance policy EXCEPT
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The paid-up addition option uses the dividend
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The paid-up addition option uses the dividend
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A tornado that destroys property would be an example of which of the following?
The requirement that agents not commingle insurance monies with their own funds is known as
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Life income joint and survivor settlement option guarantees
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Insurance represents the process of risk
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What is the purpose of establishing the target premium for a universal life policy?
Which of the following is NOT true regarding the accumulation period of an annuity?
Group health plans may deny participation based upon the
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What is the other term for the cash payment settlement option?
What documentation grants express authority to an agent?

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