Long Term Care Certification Practice Test

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Prepare for the Long Term Care Certification Exam. Use flashcards and multiple choice questions, with each question offering hints and explanations. Ace your exam with confidence!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

When are replacement and lapse reporting forms due for long-term care policies?

May 31
June 30
December 31
March 15

The correct answer is: June 30

The due date for replacement and lapse reporting forms for long-term care policies is June 30. This timing aligns with regulatory requirements that aim to ensure that insurance companies provide timely information about the status of policies. These reports are essential for regulators to monitor the trends and dynamics within the long-term care insurance market, such as the frequency of policy replacements and lapses. This date allows insurers to gather all necessary data from the previous policy year and submit it in a timely manner, thereby promoting accountability and transparency within the industry. Understanding these reporting requirements is crucial for anyone involved in long-term care insurance, as it reflects the processes that help maintain a stable and informed marketplace.