Land of Lincoln
Appointed by the Governor and serves on NAIC - can also investigate, fine and take your license away
Who is:
A. Jesse White - Secretary of State
B. Dana Popish Severinghouse - State Insurance Director
C. Kwame Raoul - Illinois Attorney General
Number of days allowed in the Grace Period Provision for different payment options:
What is:
A. 7, 10 & 30
B. 7, 14 & 30
C. 7, 10 & 31
What is one of the underwriting factors of an individual policy?
What is:
A. Marriage
B. Age
C. Neighbors
What federal organization protects consumer privacy?
What is:
A. Health Maintenance Organization HMO
B. Illinois Health Guaranty Association IHGA
C. Fair Credit Reporting Act FCRA
A medicare suppliment policy to fill areas not covered is sometimes called:
What is:
A. Medicare part B
B. Medigap
C. Basic Plan C
Medicare A requires you to:
What is:
A. Enroll 3 months before your 65th birthday
B. Enroll within 6 months before and 6 months after your 65th birthday
C. they automatically enroll you on your 65th birthday
Premium Trust Fund Accounts must be maintained for how many years?
What is:
A. 2 years
B. 7 years
C. 5 years
An Insured must wait how long before taking legal action after providing proof of loss - but no later than when?
What is:
A. After 60 days but before three years
B. After 90 days but before two years
C. After 30 days but before 90 days
If an individual does not give premium payment with application, the producer will ask for what when they return with an approved policy?
What is:
A. Premium & 1st born child
B. Double 1st Premium
C. Premium & Statement of Health to sign
In Illinois, Defamation is punishable by a fine of:
What is:
A. $100 - $1,000
B. $200 - $10,000
C. $500 - $20,000
Short Term Medical or 'interim' plans usually cover from ____ days to ____months.
What is:
A. 14 and 24
B. 30 and 12
C. 60 and 18
Medicare Supplement policies may deny coverage for pre-existing conditions for no longer than:
What is:
A. 30 Days
B. 3 months
C. 6 months
The exception to offering an applicant something outside the policy or 'rebating'?
What is:
A. Discount at your father's restaurant
B. Cubs Tickets
C. Child Restraint System
Employers need to let terminated employees know about COBRA benefits within ____ days, and the employee would have ___ days to let them know if they want the coverage.
What is:
A. 7 days and 30 days
B. 10 days and 90 days
C. 14 days and 60 days
If replacing an Individual health or disability policy care must be taken to:
What is:
A. Compare limits of coverage, benefits & exclusions
B. Add riders to old policy before issuing new one
C. Investigate claims history
A Felony conviction need to be reported to the Illinois Insurance Director within______ days:
What is:
A. 30 Days
B. 60 Days
C. 90 Days
Reinstatement can happen when a policy owner misses payments after the grace period and when an agent:
What is:
A. Does not take continuing education
B. Lets their license lapse
C. Is convicted of a misdemeanor
An insurer may not cancel or fail to renew a policy to someone for most reasons, except:
What is:
A. Nonpayment of premium
B. Diagnosed with Lou Gehrig's Disease
C. Suffering a double dismemberment
In order to obtain and maintain an insurance producer license in Illinois, you must invest in education:
What is:
A. 20 hrs pre-licensing/7.5 classroom & before 3 year renewal do 20 more/plus 3 hrs ethics
B. 20 hrs pre-licensing & 24 hours before end of first year
C. 20 hrs pre-licensing/7.5 classroom & 24 hrs/3 classroom in ethics, before two year renewal
First Dollar refers to:
What is:
A. Payment incentive Medicare will reimburse if you purchase LTC policy
B. Basic Health Insurance Plans no deductible
C. First commission from GoHealth
Your HMO policy covers a set group of doctors nd hospitals. When is it allowed to go to an out of plan hospital?
What is:
A. Emergency
B. Physician has no appointments available
C. Your producer told you to do so
The first of this offense is a Class A misdemeanor, but additional offences are felonies:
What is:
A. Misappropriating funds
B. Selling without a license
C. Forging signatures on an application
What typically happens before coverage kicks in when the insured suffers a long-term illness?
What is a:
A. Probationary Period
B. Recurrent Event
C. Elimination Period
Medicare Part A provides all or partial coverage for how many days in a benefit period?
What is:
A. 60 days
B. 90 Days
C. 30 Days
The Life and Health Insurance Guaranty Association protects policy owners except for:
What is:
A. Life Insurance Death Benefits
B. Beneficiary Loss
C. HMO
USA Patriot Act with the goal of catching money laundering requires that cash deposits over ______ and wire transfers over _____ are reported:
What is:
A. $5,000 and $1,000
B. $1,000 and $2,500
C. $10,000 and $3,000
When submitting an application for health insurance part of under writing might include hiring MIB to find adverse medical information on you. Who is MIB?
Who are:
A. Men in Black
B. Medical Insurance Bureau
C. Medical Information Bureau
Unfair Claim Settlement Practices can require a fine up to:
What is:
A. $20,000
B. $250,000
C. $100,000
When a Group policy is replaced and it no longer covers an insured's disabling condition, the prior insurer must provide:
What is:
A. an Extension of Benefits
B. Medical Bureau of Information Report
C. HMO coverage to the individual
Which condition is a benefit trigger for benefits to be paid in a long-term care policy?
What is:
A. Mental Illness
B. Inability to cook for self
C. Unable to bath or shower on own