Accident & Health Insurance Agent Exam Flashcards
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How much time are you given to complete the exam?
105 minutes.
What score do you need to pass?
60 percent.
What is the producer exam fee?
$55.
Roughly how much time do you have per question on average?
About 1.4 minutes per question (105 minutes ÷ 75 questions), so keep a steady pace and flag tough items to revisit.
How many questions can you miss and still pass?
With a 60% passing bar on 75 questions, you must answer at least 45 correctly, so you can miss up to 30.
Difference between a deductible and coinsurance?
A deductible is a fixed amount the insured pays before the policy pays; coinsurance is the percentage of covered costs the insured shares after the deductible is met.
Term: Guaranteed renewable policy
The insurer must renew the policy as long as premiums are paid and cannot change an individual insured's coverage, though it may raise premiums for an entire class.
Term: Pre-existing condition
A medical condition for which the insured received care or advice before the policy's effective date; it may be subject to a waiting or exclusion period.
What are the four core exam logistics facts to memorize?
75 questions, 105 minutes, 60% to pass, and a $55 producer exam fee.
How many questions are on the California Accident & Health Insurance Agent exam?
75 questions.
Term: Indemnity (in health insurance)
A benefit that pays a fixed dollar amount for a covered event (e.g., a set amount per hospital day) regardless of the actual expense incurred.
Term: Elimination period
A waiting period after a disability begins before disability income benefits start to be paid; it functions like a time deductible.
Term: HMO vs. PPO
An HMO typically requires using in-network providers and a primary-care referral for specialists; a PPO offers more provider flexibility and out-of-network coverage at higher cost.
Term: Waiver of premium
A provision that keeps a policy in force without further premium payments while the insured is totally disabled.
Term: Stop-loss (out-of-pocket maximum)
A limit on the total the insured must pay in a period; once reached, the insurer pays 100% of remaining covered expenses.