ACAMS Practice Questions
Accounting Cycle and Classifying Accounts
Accounting For Managers
Accounting for Merchandising Activities
Accounting for Pensions
Accounting Information Systems
Activity Based Costing
Adjusting Accounts for Financial Statements
Advanced Business Economics
Advertising and Public Relations
Advertising and Sales Promotion
An Overview of International Business
Analysis and Forecasting Techniques
Analyzing and Recording Transactions
Applied Business Research
Asset Demand and Supply under Uncertainty
Auditing and Attestation
Behavioral and Allied Sciences
Bonds and Long Term Notes Payable
Business Analytics & Technology Management Chapter 2
Business Analytics & Technology Management Chapter 3
Business Analytics & Technology Management Chapter 4
Business Analytics & Technology Management Chapter 5
Business Analytics & Technology Management Chapter 6
Business and Company Law
Business Ethics and Governance
Business Ethics Exam
Business Law Study guide
Business Organisations and Environment
Business organization and systems
Business Process Performance
California Real Estate
Capital Budgeting and Managerial Decisions
Changes in Accounting Principles
Changing Marketing Environment
Consolidated Financial Statements
Corporate and Business Law
Cost Accounting Final exam
Cost Accumulation Systems
Cost Allocation Techniques
Cost and Managerial Accounting
Cost of Capital
Cost Terms and Classifications
Cost Volume Profit Analysis
Currency Exchange Rates
Customer Relationships and Value
CVP Analysis and Marginal Analysis
Debt and Bankruptcy
Decision Makers Household Sector
Demand for Money
Derivative Instruments and Hedging Activities
Dividends and Payout Policy
Dividends, Shares, and Income
Elasticities of Demand and supply
Employee Training and Development
Environments of Business
Essence of Management
Ethical and Professional Standards
Ethics and Social Responsibility
Ethics for Management Accountants
External Financial Statements and Revenue Recognition
Federal Securities Acts
Financial and the Nonfinancial Sectors
Financial Decision Making
Financial Intermediaries and Financial Markets
Financial Markets and Securities Offerings
Financial Statements and Accounting Transactions
Flexible Budgets and Standard Costs
Florida Real Estate MCQs
Fraud Internal Control and Cash
Fundamental Accounting Principles
Global Marketing and World Trade
Governmental Accounting State and Local
Health and Life Comprehensive Exam
Health and Life Practice Questions
Human Resource Management
Human Resource Management HRM
Human Resource Planning
Importance of Business Economics
Insurance and Risk Management
Insurance License Texas Life and Health
Integrated Marketing Communications and Direct Marketing
Interactive Marketing and Electronic Commerce
Internal Auditing and Systems Controls
Internal Control and Cash
International Trade and Globalisation
Interpersonal and Organizational Communication
Introduction to Business
Introduction to Human Resource Management
Introduction to Human Resources Assessment
Investment Risk and Portfolio Management
Job Order Costing
Life and Health Insurance
Life Insurance Basics
Life Insurance Policies
Life Insurance Policy
Long Term Investment
Long Term Securities
Management and Cost Accounting
Managerial Accounting Concepts and Principles
Managing Organizational Change
Managing Production and Operations
Managing Products and Brands
Market Segmentation Targeting and Positioning
Marketing and Corporate Strategies
Marketing Channels and Wholesaling
Master Budgets and Planning
Mergers and Acquisitions
Money and Banking
National Health Insurance
Not For Profit Accounting
Organization and Operation of Corporations
Organizational Behavior Essentials
Organizational Markets and Buyer Behaviour
Organizational Structure and Design
Personal Selling and Sales Management
Principles and Practices of Management
Production and Operations Management
Profitability Analysis and Analytical Issues
Profitability Analysis and Decentralization
Property Plant and Equipment
Property Plant and Equipment Exam
Reporting and Analyzing Cash Flows
Reporting and Analyzing Long Lived Assets
Reporting and Analyzing Receivables
Responsibility Accounting and Performance Measures
Risk and Procedures for Control
Service Department Costing
Short Term Financing
Short Term Investment
Standard Costs and Variance Analysis
State Health Insurance
Statement of Cash Flow
Statement of Comprehensive Income
Statement of Financial Position
Stock Market and Stock Prices
Strategic Marketing Process
Structure of Interest Rates
Succession and Transfer Taxes
Supply Chain and Logistics Management
System Analysis and Design
Texas Real Estate
The Management Challenge
Total Quality Management
Understanding Exchange Rates
Understanding Interest Rates
Understanding Interest Rates Determinants
Value Added Tax
National Health Insurance
National Health Insurance MCQs
An insurer must provide claim forms to an insured within a MAXIMUM of how many days after receiving notice of an Accident & Health claim?
Under a group health plan, an employer may offer additional benefits to classes of employees on the basis of all of the following factors EXCEPT:
length of employment
Which of the following statements is CORRECT about a Waiver of Premium provision in a Disability Income policy?
It allows the insurer to deduct premiums due from the disabled insured's benefit payments.
It allows the insurer to increase the amount of premium during the insured's time of disability.
It allows the insured to extend the length of the Grace Period while disabled.
It allows the insured to maintain a policy in force while disabled and unable to pay premiums.
Suicide, pre-existing conditions and self-inflicted injuries are dealt with in which of the following policy features?
Extensions of coverage
An insured becomes disabled three years after his Disability Income policy is issued. The disability is caused by a condition that existed prior to th...
Pay the full claim
Pay the claim for a maximum of six months only
Deny the claim on the basis of misrepresentation
Deny the claim because it involves a pre-existing condition
A health care plan that reimburses a flat fee for medical care it provides at a clinic it owns and operates is referred to as:
Health Maintenance Organization
Multiple Employer Trust (MET)
Which of the following laws requires an insurer to notify an applicant in writing that an investigative consumer report may be made on the applicant?
Uniform Provisions Law
Freedom of Information Act
Medical Information Bureau Disclosure Act
Fair Credit Reporting Act (Insurance Information and Privacy Protection Act)
Under a Guaranteed Renewable Accident & Health policy, an insurer retains the right to:
increase the premium rate for one insured without increasing the rate for others in the same class
increase the premium rate for an entire class of insureds
increase the benefits for an individual insured
decrease benefits for one insured without decreasing benefits for others in the same class
An individual who has had a heart murmur since birth is likely to be issued an individual disability policy that includes:
Guaranteed Insurability rider
an Exclusionary/ Impairment rider
Waiver of Premium rider
Double Indemnity rider
Which of the following statements is CORRECT about coinsurance?
It applies to deductibles as well as to claim payments.
It helps control overutilization of benefits.
It is effective for the first claim payment and waived for future claims.
Insurance companies may adjust the coinsurance ratio after issuing a policy.
The insurance policy clause that identifies the contracting parties and defines the scope and limits of coverage is called the:
In an Accidental Death and Dismemberment (AD&D) policy, the term "capital sum" refers to:
the benefit paid for death caused by a dread disease
the monthly disability income paid if an insured loses a limb or the sight in one or both eyes
a lump sum payment made when disease causes the amputation of an arm or a leg
a lump sum payment made for an accidental dismemberment
A group long-term disability plan is integrated with Social Security when which of the following statements is CORRECT?
Social Security and group benefits pay a combined maximum limit.
Full group benefits are paid in addition to Social Security benefits.
Full Social Security benefits are paid after group benefits are exhausted.
Half of the allowable Social Security benefits are paid after group benefits are exhausted.
Medicare Part A covers which of the following expenses?
Hospital room and board
J has a physical impairment, attends school, and is incapable of self-sustaining employment and/ or self care. Which of the following statements is CO...
J's coverage ceases, but J may apply for group student coverage.
J's coverage automatically discontinues at age twenty-six.
J's coverage continues only as long as J is a full-time student.
Jâ€™s coverage continues as long as J is continually incapacitated and is financially dependent on Jâ€™s father.
Medicare Supplement policies are primarily designed to:
offset the high cost of Medicare
provide additional retirement income to supplement Social Security retirement benefits
provide additional benefits beyond those provided by Medicare
provide a reinsurance network that spreads the Medicare risk among private insurance companies
A producer and an applicant complete an application for a health policy and submit it to the insurer for underwriting without any premium. The underwr...
collect the initial premium payment
issue a conditional receipt
have the applicant complete a statement of continued good health
explain the Free Look provision which begins on the policy delivery date
M and N own a small interior design studio that employs six people. The owners are concerned about the financial continuation of the business if eithe...
Comprehensive Major Medical
Short-Term Disability Income
Which of the following definitions of disability would cover a permanent partial disability?
Group health insurance specifies that what percentage of eligible individuals MUST be offered coverage under a noncontributory plan?
An Eligible Expenses provision in a comprehensive major medical policy commonly identifies all of the following types of covered health care services ...
professional services of doctors and other medical practitioners
hospital charges for semi-private room and board
experimental and investigative services
pre-approved home health care
Which of the following provisions explains that a producer does not have the authority to waive the provisions of an insurance contract?
Time limit on certain defenses
Under the Claims Forms provision of a health policy, if the insurance company fails to send claim forms within the time period required, the insured s...
expect a full refund of all premiums paid plus interest
submit the claim in any form, which must be accepted by the company as adequate proof of loss
request the Department of Insurance mediate the claim settlement
wait for the claim form to arrive
The Coordination of Benefits clause found in group health master contracts is used to:
integrate Disability Income benefits with Major Medical benefits
avoid double payment of benefits to an insured who has duplicate group coverages
investigate the claims history of an insured
avoid duplicate claims to an employer for the same employee
A precertification review prior to a nonemergency hospitalization is an example of:
Five years ago, at age forty-five, X stated that he was forty years old on a disability income insurance application. X now submits a claim and the in...
Deny the claim due to material misrepresentation on the application
Pay the claim as filed because the policy becomes incontestable after two years
Pay the claim and cancel the policy
Adjust the benefits downward according to the benefits that X would have been entitled to based on the premiums
When delivering a policy to a client, a producer should take all of the following actions EXCEPT:
collect any premiums due
fully explain all exclusions and/or riders
keep the policy in the producerâ€™s office for safe-keeping on behalf of the client
review all benefits provided by the policy
A married insured has an Accidental Death and Dismemberment (AD&D) policy that names his brother as the primary beneficiary and his son as the con...
The insured's estate
The brother's estate
The insuredâ€™s son
The insured's spouse
Which of the following definitions MOST accurately describes the Probationary Period?
The period of time from the date of the loss until the benefits begin
The period of time from the date of the loss until benefits are actually received by the policyowner
The waiting period a new hire must satisfy prior to becoming eligible for group health coverage
The period of time once a claim is received by the insurance company before it pays benefits to the policyowner
The Elimination Period in most Disability Income policies applies:
to each separate disability
to claims for accidents only
during the first 30 days of the contract
during short-term disabilities that are easily managed
The PRIMARY purpose of Medicaid is to:
pay for expenses not covered by Medicare
provide Disability Income benefits to people on Medicare
provide Medical Expense coverage to persons meeting certain minimum income requirements
provide funds for people injured in natural disasters
In which of the following health policies are both the renewability and the premiums guaranteed?
An insured whose Disability Income policy contains a Change of Occupation clause takes a new job in a more hazardous occupation and fails to notify th...
Cancel the policy and refund one year's premiums
Settle the claim according to what the premiums would have purchased under the more hazardous occupation
Pay the claim in full and then cancel the policy
Pay the claim after deducting an extra one-year premium payment
Which of the following reports may include information obtained by a telephone call to the proposed insured?
Medical Information Bureau (MIB) report
Attending physician's report
The purpose of the Medical Information Bureau (MIB) is to:
recommend the premium rates for health policies issued to substandard risks
share medical data among member companies
provide background data for large group health plans
provide actuarial data on dread diseases
An Accident and Health policy Notice of Claim provision requires that an insured give written notice to the insurer within a MAXIMUM of how many days ...
The Consideration clause in an accident and health policy states the:
the applicant pays the initial premium
conditions under which benefits are paid
premiums will be refunded during the free look period
certain claims will be excluded under the policy
All of the following elements are required of a contract EXCEPT:
Which of the following types of provisions guarantees renewability to a specified date or age unless certain specified events occur?
On June 1, S purchased a Major Medical policy and paid the initial premium to Producer T. On July 1, Producer T received the policy from the insurance...
The Social Security program provides all of the following benefits EXCEPT:
Which of the following statements is CORRECT about a Disability Income policy with a Guaranteed Insurability rider?
The insured may periodically increase the amount of benefits payable under the policy.
The insured may assign the policy to a member of the insured's family.
The insurer is not permitted to cancel the policy.
The insurer will issue the policy without a medical examination.
An applicant for insurance submits an application to an insurer for underwriting but does not forward any premium payment with the application. Legall...
an inquiry for an offer
The Internal Revenue Service (IRS) considers Disability Income benefits paid under an employer-paid group Disability Income to be:
taxable for thirteen weeks only
nontaxable for twenty-six weeks only
exempt from taxation
Which of the following provisions designates to whom claim payments are made?
Time of Payment of Claims
Notice of Claim
Payment of Claims
A Disability Income policy may provide benefits for which of the following losses?
Catastrophic medical expenses
Long term care
Supplemental payments to Medicare
When periodic claim payments are required under a long-term disability income policy, an insurer MUST make payments to an insured at least once every:
Under an Accidental Death and Dismemberment (AD&D) policy, insurable interest must exist at which of the following times?
When a change of beneficiary is requested
At the inception of the policy
When a beneficiary other than a relative is named
At the time a claim is submitted
Health insurance policies are offered on a "take it or leave it" basis and referred to as which of the following types of contracts?
Contracts of Adhesion
Which of the following health policies requires a beneficiary designation?
Long Term Care
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