Other General Provisions 2020

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Question 1 of 9

1. Question
Which of the following statements regarding the Right to Examine/Free Look provision is false?
- According to Utah law, for general accident and health insurance policies, the right to examine/free look period must be at least 10 days from the time the policy was delivered.
- According to Utah law, for limited accident and health insurance policies or certificates issued to persons eligible for Medicare (Medicare Supplement and Advantage Plans), the right to examine/free look period must be at least 20 days from the time the policy was delivered.
- If a policyholder chooses to return a policy within the right to examine/free look period, the premium paid is refunded to the policyholder.
- The time period that the policyholder has to look over the policy and return it for any reason (the right to examine/free look period) must be clearly stated on the first page of the policy.
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Question 2 of 9

2. Question
Which clause in an accident and health insurance policy states that the insurer provides coverage to the insured in exchange for the insured’s premiums and statements made on the insurance application?
- Exchange Clause
- Insuring Clause
- Coinsurance Clause
- Consideration Clause
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Question 3 of 9

3. Question
Which provision in an accident and health insurance policy can be described as the “insurer’s promise to pay?”
- Insuring Clause
- Consideration Clause
- Guaranteed Clause
- Promissory Clause
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Question 4 of 9

4. Question
Which type of renewability clause provides the insurer with the least amount of control to terminate coverage/terminate a policy?
- Guaranteed renewable
- Non-cancelable
- Conditionally renewable
- Renewable at the option of the insurer
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Question 5 of 9

5. Question
For which type of policy renewability does the insurer have the right to increase the premiums, but does not have the right to terminate coverage for as long as the policyowner pays the premiums (up to a certain age, e.g. 65)?
- Conditionally Renewable
- Non-Cancelable
- Guaranteed Renewable
- Renewable at the Option of the Insurer
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Question 6 of 9

6. Question
Shannon’s health insurance policy has a coinsurance of 80/20. What does this mean?
- After any deductible has been met, Shannon is responsible for 80% of the covered costs, and the insurer is responsible for the other 20%.
- After any deductible has been met, the insurer is responsible for 80% of the covered costs, and Shannon is responsible for the other 20%.
- Shannon is responsible for 80% of the deductible, and her employer is responsible for the other 20%.
- Shannon's employer is responsible for 80% of the deductible, and Shannon is responsible for the other 20%.
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Question 7 of 9

7. Question
Which of the following is not true regarding the probationary period of an accident and health insurance policy?
- The purpose of a probationary period is to prevent adverse selection.
- It is the period of time following the date of issuance or effective date of the policy before coverage begins for all or certain conditions.
- According to Utah law, a probationary period for an accident policy shall not exceed 10 days.
- According to Utah law, a probationary period for a specified disease policy shall not exceed 30 days.
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Question 8 of 9

8. Question
Which of the following is not true regarding an insurance policy’s elimination period?
- It is the length of time an insured shall wait before becoming eligible for benefits under the policy, after a triggering event has occurred.
- A policy’s elimination period can be considered similar to a coinsurance, but it is measured in days not dollars.
- A longer elimination period will result in a lower policy premium.
- It is typical for disability income and long-term care insurance policies to have an elimination period.
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Question 9 of 9

9. Question
Which of the following is NOT an exclusion commonly found in accident and health insurance policies?
- Alcoholism and other drug addictions
- Hearing aids
- Custodial (long-term) care
- Reconstructive surgery
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