Question 1 of 5 Share Facebook Twitter LinkedIn WhatsApp Email Copy Link A health insurance issuer offering coverage in the individual market must provide premium rebates if its medical loss ratio (MLR) is less than what percentage? A. 70% B. 75% C. 80% D. 85% Submit Answer
Question 2 of 5 Share Facebook Twitter LinkedIn WhatsApp Email Copy Link Why is having a large number of similar exposure units important to an insurer? A. The greater the number insured, the more accurately the insurer can predict losses and set appropriate premiums. B. The greater the number insured, the more premium is collected to offset fixed costs. C. The greater the number insured, the more premium is collected to help cover losses. D. The insured increases its market share with every insured. Submit Answer
Question 3 of 5 Share Facebook Twitter LinkedIn WhatsApp Email Copy Link The California Insurance Code requirements regarding the return of life or annuity contracts issued to seniors A. applies to group policies. B. defines seniors as someone 55 years of age or older on the date of purchase of the policy. C. gives a senior at least 30 days to return specified life and/or annuity contracts for a full refund. D. mandates a 30 day free look for all applicants. Submit Answer
Question 4 of 5 Share Facebook Twitter LinkedIn WhatsApp Email Copy Link Each of the following terms is an important characteristic of a Major Medical policy EXCEPT A. deductible. B. copayments. C. coinsurance. D. capitation fee. Submit Answer
Question 5 of 5 Share Facebook Twitter LinkedIn WhatsApp Email Copy Link Which tax advantage is available for individual nonqualified annuities? A. Fully taxable distributions. B. Deductibility of contributions. C. Penalty-free early withdrawals. D. Tax-deferred accumulation of earnings. Submit Answer