An elimination period for long-term care policies that is counted based on the number of days the insured receives care is called:

a. Service day basis.

b. Calendar day basis.

c. Long-term care basis.

d. Medicare basis.

Answer: a. Service day basis.

Pre-Licensing Insurance

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Which of the following terms best describe the coverage provided by term policies, as compared to any other form of protection?
All of the following are considered limited lines of authority EXCEPT
What is the other term for the cash payment settlement option?
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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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
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Which of the following best defines target premium in a universal life policy?
What does the word "level" in Level Term describe?
A beneficiary change can occur
No existing agent's license will be revoked until
Which of the following statements about aleatory contracts is NOT true?
A type of group that has a constitution and bylaws and has been organized for purposes other than obtaining insurance is called a(n)
The minimum interest rate on an equity indexed annuity is often based on
Under an extended term nonforfeiture option, the policy cash value is converted to
Which type of life insurance policy generates immediate cash value?
What rule is used to determine the importance of a representation?
Which of the following is NOT the purpose of HIPAA?
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
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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
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Which contract element is insurable interest a component of?
Which nonforfeiture option provides coverage for the longest period of time?
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Which of the following statements about accumulated interest earned on dividends from an insurance policy is TRUE?
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Which of the following is NOT true regarding a Certificate of Authority?
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The requirement that agents not commingle insurance monies with their own funds is known as
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What is the purpose of establishing the target premium for a universal life policy?
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Circulating deceptive sales material to the public is what type of Unfair Trade Practice?
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