Laws and Rules Chapter Exam

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An employer may qualify for health care tax credits through SHOP Marketplace if that employer has fewer than how many employees?
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An employer may qualify for health care tax credits through SHOP Marketplace if that employer has fewer than how many employees?
25
An insurer is REQUIRED to offer which of the following to each long-term care applicant at the time of purchase?
Inflation Protection
An insurer need NOT pay interest on death benefits if the proceeds of the life policy are paid within
20 days after the date of the death of the insured.
After the first payment is made, the grace period for an accident and health policy is
30 days
An existing life insurance policy is being replaced by a new one. A notice of replacement must be provided by the _________ to be signed by the applicant
Producer
Which license is REQUIRED in order to solicit Long Term Care insurance in the State of Louisiana?
Health Insurance Producer License
Louisiana residents who are uninsurable may obtain health coverage through the
Louisiana Health Insurance Association
The required grace period for a life insurance policy sold in Louisiana is __________ days
30
Jim recently sold his whole life insurance policy under a viatical settlement contract. The proceeds of this contract could be subject to the claims of
Creditors
The _________ of Coverage describes policy features, benefits, exclusions, and riders in a long-term care policy
Outline
What is the purpose of the Louisiana Life and Health Insurance Guaranty Association?Ensures that claims filed against insolvent insurance companies will be paid. It was created to protect policyholders, insureds, and beneficiaries of life insurance policies, health insurance policies, annuity contracts, and supplemental contracts when insurers fail to perform contractual obligations due to financial impairmentProof of loss on a health insurance claim must be submitted to an insurer within __________ days after the insured's date of loss90The branch of dentistry which deals with the replacement of missing parts is calledProsthodontics Prosthodontics is the branch of dentistry concerned with the design, manufacture, and fitting of artificial replacements for teeth and other parts of the mouthOpen enrollment for Medicare Supplement coverage starts3 months before your 65th birthdayUnder the Louisiana Health Plan, comprehensive health benefits are provided toMedically uninsurable residentsWithin ________ days after policy delivery, moth Medicare Supplement and Long-Term Care policies can be returned for a 100% premium refund30Long-Term Care policies or certificates issued in Louisiana are required to haveeA nonforfeiture valueA policyowner has ___________ days after policy delivery to return a major medical policy10A newborn is required to be covered for __________ days from the moment of birth31An eligible employee can be excluded from group health coverage for up to ________ months if he/she is considered a "late enrollee"18When a Medicare Supplement Insurance policy is being replaced, who must sign the notice of replacement?The producer and the applicantA nonresident producer from a state outside of Louisiana may become licensed in Louisiana IF a(n)reciprocal arrangement exists with the state of domicileAccording to the Affordable Care Act, any plan in existence prior to which date is considered a grandfathered plan?March 23, 2010As of January 1, 2014, an employer with up to 25 full time equivalent (FTE's) with average annual wage of less than $50,000 may be eligible for a tax credit of __________ of the premiums paid by the employer.50%Long-term care policies sold in Louisiana may exclude coverage related toSubstance addictionsA common exclusion or limitation on a dental policy isEndodonticsAn indemnity plan limitation that will pay the dental bills after a small amount is paid by the insured is calledCoinsuranceUnder the Affordable Care Act, a large employer that does NOT provide health insurance and owes an employer mandate penalty MUST pay an annual penalty, which is calculated by multiplying $2,000 byThe number of full time employees minus 30Which of these is NOT considered a form of life insurance advertisement?Buyer's guideA life insurance policy sold in Louisiana can be contested by the insurer only during the first ______ years of the contract2In Louisiana, legal action can be taken for up to ________ year(s) against an insurer for failure to pay health insurance claims after proof of loss was submitted1After an annuity has been in force for _____ year(s), it becomes incontestable2A life insurance replacement transaction could result in a(n)Surrender chargeIf a health policy is reinstated after it had lapsed for nonpayment, there is a waiting period of ________ days before a claim covering sickness will be covered10In most dental plans, a deductible typically is NOT applied toPreventative and diagnostic servicesThe ___________ is responsible for determining the appropriateness of a Medicare Supplement policy for the applicantProducerKiara filled out a life insurance application and was given a policy illustration that showed future premiums being paid out of non guaranteed values. This illustration MUSt disclose thatShe may need to resume premium payments, depending on actual resultsReplacement can be defined asA transaction in which a new life insurance policy is purchased and an existing life policy is surrenderedAfter _________ year(s) from date of issue, a policy can no longer be cancelled by the insurer for misstatements (except for fraud)3After a disability policy has been in force for _______ year(s), it is considered incontestable3After the first payment is made, the grace period for an accident and health policy is30 daysAn existing life insurance policy is being replaced by a new one. A notice of replacement must be provided by the ______________ to be signed by the applicantProducerAccording to the Affordable Care Avt, what is the maximum amount an individual can contribute to a Flexile Savings Account?$2,500Long-term care policies sold in Louisiana may NOT includeSenile Dementia peopihpbosappl