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What is the form of LTC that is non-medical and involving the most private and intimate aspects of a person's life - personal hygiene, dressing, and toileting? CORRECT ANSWERS: Custodial Care Custodial Care provides these "low-tech" services that are designed to minimize, rehabilitate, or compensate for loss of _______________. CORRECT ANSWERS: Loss of Independent physical or mental functioning. What are the less personal long-term custodial care needs that my be involved? CORRECT AN...

1. The ethical principle, "Place the interests of others above your own," is an example of CORRECT ANSWERS: b. positive actions or results-based ethics 2. Your sister escaped from an abusive husband and is hiding in your basement when her husband knocks on your door, brandishes a pistol, and asks, "Is she in there?" This is CORRECT ANSWERS: c. an ethical dilemma because it puts two ethical principles against one another 3. A graduate insurance student attempted to determine the facto...

A tornado severely damages one of Major Manufacturing's plants. As a result of the damage, Major Manufacturing is forced to curtail its operations during the 6 months needed to complete repairs. The resulting loss of income suffered by Major Manufacturing is referred to as CORRECT ANSWERS: a time element loss. Which of the following describes a feature of standard commercial property policies? CORRECT ANSWERS: Several different forms must be combined to make up a policy. The president o...

What is difference between a Stated Amount and an Agreed Value? CORRECT ANSWERS: Methods lies in the benefit amount that is actually paid out if the insured object is destroyed or stolen. Stated - pays the lesser of the listed dollar amount or the objects cash or replacement value. Agreed - Pays the dollar amount listed in the policy without regard for the objects depreciated or replacement value. Perils Include: CORRECT ANSWERS: Fire, Explosion, Flood, Theft, Collision Hazards are divid...

Homeowners Policy Coverage A CORRECT ANSWERS: Dwelling: Insureds house and attached structures, attached garage and/or toolshed/construction materials on or next to dwelling. Homeowners Policy Coverage B CORRECT ANSWERS: Other structures: Structures not attached to dwelling, detached garage, gazebo, driveway, swimming pool, fence. (excludes structures rented to non-tenant: business structure) Homeowners Policy Coverage C CORRECT ANSWERS: Personal Property: Covers all "stuff" owned by ...

An insured would be prudent to rely upon health insurance to cover injuries sustained in an auto accident because medical payments coverage under a personal auto policy. (PAP CORRECT ANSWERS: has relatively low limits If a group of insureds are rated by class, they will CORRECT ANSWERS: be charged the same premium rate Nelson is the president of his company and has a company car. He does not have a personal auto policy because he does not own another vehicle. Which endorsement to his com...

which of the following situations presents a situation of pure risk? -knowing that his family is depending on him, Frank wants to insure his life -wanting to increase his retirement savings, Saul invests his life savings in the stock market -Ralph takes a second mortgage on his house and uses the proceeds to gamble -wanting better job security, Ron cashes in his life insurance to start his own business correct answer: knowing that his family is depending on him, Frank wants to insure his ...

On what basis are benefits payable under a long-term care insurance policy typically triggered? A) the diagnosis of an acute medical condition B) the number and types of medications prescribed C) the inability to perform of medications prescribed D) all of the above correct answer: C) The inability to perform defined ADLs The inability to perform defined ADLs. Benefits payable under a long-term care policy are typically based on (or "triggered" by) the inability to perform a certa...