Which term refers to the period of time from the beginning of confinement to the beginning of benefits under a long-term care insurance policy?

A. The trial period

B. The exclusion period

C. The qualifying period

D. The elimination period

The overall authority of an insurance agent includes all of the following EXCEPT:

A. Apparent authority

B. Express or specific authority

C. Implied authority

D. Residual authority

Giving policyholders some part of the agent’s commission as an inducement to purchase insurance is an unfair trade practice known as:

A. Twisting

B. Rebating

C. Replacement

D. Retention

In a deferred annuity, which contract feature begins at a high level, often 5%-10%, and then diminishes until it disappears after a specified number of years?

A. The surrender charge

B. The front end sales load

C. The guaranteed interest rate

D. The expense charge

A typical disability income insurance policy EXCLUDES benefits for which one of the following causes of loss?

A. Permanent injuries

B. Intentional self-inflicted injuries

C. Sporting accidents

D. Falls

All of the following are advantages of whole life insurance EXCEPT:

A. Policy loans may be available

B. Long-term protection is provided

C. The initial cost of coverage is lower than for an equivalent amount of term insurance

D. There is a cash value if the policy is terminated after a sufficient period of time

Keogh plans are also known as:

A. Section 457 plans

B. HR 10 plans

C. 403(b) plans

D. Section 2503(c) trusts

Which contract provides an income benefit until the first of two annuitants dies?

A. A joint and survivor annuity

B. A temporary annuity

C. A joint life annuity

D. A single life annuity

Employer-paid premiums for qualified long-term care insurance are:

A. Included in an employee’s gross income

B. Deductible as a business expense

C. Deductible on an employee’s federal income tax return

D. Reimbursed by the employee

If an employee in poor health is part of a large group that is acceptable for group life insurance, that employee is:

A. Ineligible for coverage under the plan

B. Eligible for coverage, but on a rated basis

C. Eligible for the same type of coverage as other employees

D. Eligible for coverage more limited than that of other employees

Which is a lawful cause for cancellation of an individual long-term care insurance policy by the insurer?

A. Nonpayment of premium

B. Medicaid eligibility

C. Insurer insolvency

D. Nuisance claims

Who normally bears the cost of excess charges in a Medicare claim?

A. The Social Security Administration

B. The Centers for Medicare & Medicaid Services

C. The service provider

D. The insured