Long-term care insurance differs from Medigap in which of the following ways?

a. Long-term care insurance must be guaranteed renewable.

b. Long-term care insurance provides custodial care.

c. Long-term care insurance may impose a 6-month pre-existing condition exclusion.

d. Long-term care insurance must provide a 30-day free look period.

Answer: b. Long-term care insurance provides custodial care.

Pre-Licensing 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

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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
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Fixed annuities provide each of the following EXCEPT
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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
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A type of group that has a constitution and bylaws and has been organized for purposes other than obtaining insurance is called a(n)
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Under an extended term nonforfeiture option, the policy cash value is converted to
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In an insurance contract, the applicant's "consideration" is the
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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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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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The requirement that agents not commingle insurance monies with their own funds is known as
Who is responsible for assembling the policy forms for insureds?
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What is the other term for the cash payment settlement option?
Which of the following is NOT true regarding the accumulation period of an annuity?
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The requirement that agents not commingle insurance monies with their own funds is known as
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