Life and Health California Exam Long-Term Care Insurance

Question 1

Under federal law, a long-term care insurance policy qualifies as a 'tax-qualified' policy if the insured is certified as unable to perform at least how many activities of daily living (ADLs)?

Accepted Answer

2 out of 6

Answer

1 out of 6

Answer

3 out of 6

Answer

4 out of 6

Question 2

Which of the following is NOT one of the six activities of daily living (ADLs) used to trigger LTC benefits?

Accepted Answer

Ambulating (walking)

Answer

Bathing

Answer

Dressing

Answer

Continence

Question 3

The 'elimination period' in a long-term care insurance policy functions similarly to:

Accepted Answer

A deductible expressed in days rather than dollars

Answer

A premium waiver

Answer

The policy's benefit period

Answer

A coordination of benefits clause

Question 4

Under California's long-term care insurance regulations, the minimum benefit period for individual LTC policies is:

Accepted Answer

24 months

Answer

6 months

Answer

12 months

Answer

36 months

Question 5

A long-term care policy that pays a fixed daily benefit regardless of the actual cost of care is called a(n):

Accepted Answer

Indemnity policy

Answer

Reimbursement policy

Answer

Partnership policy

Answer

Pool of money policy

Question 6

The California LTC Partnership Program allows policyholders to:

Accepted Answer

Protect personal assets equal to the LTC benefits paid when applying for Medi-Cal

Answer

Share LTC benefits with a spouse

Answer

Receive LTC benefits from both private insurance and Medi-Cal simultaneously

Answer

Deduct LTC premiums from California state income taxes