V is 62 years old and wants to retire. All of the following statements about his health insurance are false except:

a. He will automatically be enrolled in Medicare.

b. Medicare part A will charge no premium after age 65 if V worked at least 10 or more years in Medicare covered employment.

c. He will need to pay a premium for Medicare part B until age 65, at which point in time coverage will be automatic.

d. He will receive a permanently reduced benefit.

Answer: B

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? a) $0 b) $30,000 c) $32,000 d) $40,000 Answer: B

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A domestic insurer issuing variable contracts must establish one or more
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What does the word "level" in Level Term describe?
A beneficiary change can occur
No existing agent's license will be revoked until
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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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Who is responsible for assembling the policy forms for insureds?
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Which of the following is NOT true regarding the accumulation period of an annuity?
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