PiCAT Practice Test Questions Containing 134 terms with Certified Answers 2024.
Which of the following are NOT fundable by annuities?
a) Death benefits
b) Cash accumulation for any reason
c) A person's retirement
d) Estate liquidation - CORRECT ANSWER-a) Death benefits
Annuities are most commonly used to fund a person's retirement, but they can technically be used to accumulate cash for any reason. Annuities can also be used to liquidate an estate. Annuities do not provide death benefits; those are provided by life insurance.
Which of the following employees insured under a group life plan would be allowed to convert to individual insurance of the same coverage once the plan is terminated?
a) Those who have no history of claims
b) Those who have been insured under the plan for at least 5 years
c) Those who have worked in the company for at least 3 years
d) Those who have dependents - CORRECT ANSWER-b) Those who have been insured under the plan for at least 5 years
If the master contract is terminated, every individual who has been on the plan for at least 5 years will be allowed to convert to individual insurance of the same coverage.
An employee insured under a group health plan has been paying $25 monthly premium for his group health coverage. The employer has been contributing $75, for the total monthly cost of $100. If the employee leaves the company, what would be his maximum monthly premium for COBRA coverage?
a) $100
b) $102
c) $25
d) $25.50 - CORRECT ANSWER-b) $102
The employer is permitted to collect a premium from the terminated employee at a rate of no more than 102% of the individual's group premium rate (in this scenario, 102% of $100 total premium is $102). The 2% charge is to cover the employer's administrative costs.
In which of the following scenarios will repayment of funds take place per the Medicaid Estate Recovery Act?
a) The mother of a 10-year-old died after receiving 8 months of Medicaid payments
b) Before her death, a 23-year-old was living in a long-term nursing facility paid for with Medicaid funds
c) A Medicaid recipient is survived by his wife
d) The 22-year-old son of a Medicaid recipient is blind - CORRECT ANSWER-b) Before her death, a 23-year-old was living in a long-term nursing facility paid for with Medicaid funds
Estate recovery cannot take place if the Medicaid recipient, at the time of his or her death, has a surviving spouse, a child younger than 21 or a child who is blind or permanently disabled.
The Patient Protection and Affordable Care Act includes all of the following provisions EXCEPT
a) Coverage for preventive benefits.
b) Individual tax deduction for premiums paid.
c) Right to appeal.
d) No lifetime dollar limits. - CORRECT ANSWER-b) Individual tax deduction for premiums paid.
The Act does not offer tax deductions for health insurance premiums. All the other provisions are included in the Act.
Who can request changes in premium payments, face value, loans, and policy plans?
a) Agent
b) Policyowner
c) Contingent Beneficiary
d) Beneficiary - CORRECT ANSWER-b) Policyowner
Mandatory provisions give these rights to the policyowner.
When a health insurance policy is purchased in the state of New York, the insured may cancel the policy and receive a premium refund within
a) 90 days.
b) 10 days.
c) 20 days.
d) 30 days. - CORRECT ANSWER-c) 20 days.
The Free Look Provision allows for an insured to review his/her policy once it has been delivered; if the insured decides to return it within a certain time period, the premium will be refunded. The Free Look time period varies from state to state. In New York the insured can review the policy from anywhere between 10 and 20 days.
Which of the following individuals must pass the written examination to be licensed as an agent?
a) A ticket selling airline representative for one-time issuance of baggage or accident insurance.
advanced pathophysiology aha pals aorn periop 101 ati comprehensive exit ati comprehensive predictor ati fundamentals proctored ati pharmacology ati pharmacology proctored ati rn leadership proctored ati rn med surg proctored emt health care healthcare hesi hesi exit hesi exit rn hesi health assessment hesi mental health hesi pn exit hesi rn exit ihuman case study med surg nclex rn nclex;readiness nursing
Super hulp bij het studeren en bespaart veel kostbare tijd.
Werkt prima, gelijk downloaden en geen ingewikkelde procedures. Heel fijn!
Knoowy heeft mij geholpen om aan samenvattingen te komen, zodat ik tijd bespaar door het zelf niet te hoeven maken.
De documenten zijn duidelijk en goed samengevat. Het is fijner leren dan vanuit het boek.
Snel, betrouwbaar, veel aanbod van samenvattingen. Goed en duidelijk weergegeven.
Ik verkoop samenvattingen om andere studenten te helpen en tegelijk wat bij te verdienen.
Altijd tevreden over Knoowy! Reeds vele samenvattingen gedownload maar ook geüpload.
Zeer goed in gebruik en betrouwbaar. Zelf zou ik er ook samenvattingen op plaatsen.