Final Exam Quiz With 100% Correct Answers..

Which of the following is NOT required in the Outline of Coverage for a health insurance policy? Explanation of the policy's benefits Listing of the policy's exclusions and limitations Projection of the policy's future costs Explanation of the policy's renewal and cancellation provisions {Ans: Projection of the policy's future costs}Who is NOT required to sign a life insurance application? Adult insured Policyowner Agent Beneficiary {Ans: Beneficiary}When does a Probationary Period provision become effective in a health insurance contract? At the policy's inception 30 days after the policy's inception When a claim is submitted When a covered loss occurs {Ans: At the policy's inception}Which action could result in a hearing being ordered by the Department of Financial Services? Representing a foreign insurer Sharing commissions with another licensed agent Performing insurance transactions without a license Conducting insurance business in this state while being a resident of another {Ans: Performing insurance transactions without a license}J is an agent who recently told a claimant that his rights might be impaired if he does not complete a release form within a specified time. What could this agent be found guilty of? Twisting Defamation Coercion Rebating {Ans: Coercion}When an insurance application