Life, Accident, and Health Producer Exam Latest

Life, Accident, and Health Producer Exam Latest Update - 150 Questions and 100% Verified Correct Answers Guaranteed A+

A baby is born to a husband and wife covered under a family accident and health insurance policy. If the newborn is covered at birth, the first payment for the additional

coverage would become due in _____ days - CORRECT ANSWER: 31

A disability elimination period is best described as a - CORRECT ANSWER: time

deductible

A foreign insurance company doing business in Michigan - CORRECT ANSWER: Is a

company domiciled under the laws of another state

A guaranteed issue insurance policy has no - CORRECT ANSWER: medical

underwriting

A hospital or medical expense policy will typically cover dental treatment expenses

under which circumstance? - CORRECT ANSWER: Dental treatment is needed to

repair an injury

A life insurance applicant in Michigan may backdate the application for up to ____

month(s) - CORRECT ANSWER: 6

A life insurance application may be backdated to - CORRECT ANSWER: Save on

premiums

A life insurance company has transferred some of its risk to another insurer. The insurer

assuming the risk is called the - CORRECT ANSWER: Reinsurer

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A life insurance policy sold in Michigan may be contested by the insurer ONLY during

the first ____ year(s) of the contract - CORRECT ANSWER: two

A life insurance rider that allows an individual to purchase insurance as they grow older, regardless of insurability, is called a(n) - CORRECT ANSWER: Guaranteed insurability rider

A limited payment whole life policy provides - CORRECT ANSWER: lifetime protection

A Medicare Supplement policy issued in the state of Michigan is required to provide

each of the following EXCEPT - CORRECT ANSWER: It must include outpatient

prescription drug coverage

A partial surrender is allowed in which of the following life policies? - CORRECT

ANSWER: Universal life

A policyowner may change two policy features on what type of life insurance? -

CORRECT ANSWER: Adjustable Life

A producer is hired to sell insurance for an insurer. Upon submission of the agency contract application, the producer MUST be appointed by the insurer within ______

days - CORRECT ANSWER: 15

A producer's insurance license may ONLY be revoked by the - CORRECT ANSWER:

Department of Insurance and Financial Services (DIFS)

A producer's license is required for all of these activities EXCEPT - CORRECT

ANSWER: Underwriting insurance

A proposed insured for a health insurance policy was treated for heart disease within the past year. When applying for heath insurance, the heart disease treatment -

CORRECT ANSWER: Indicates a preexisting condition

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A rehabilitation benefit is intended to - CORRECT ANSWER: prepare the insured to return to employment

A renewable Term Life insurance policy allows the policyowner the right to renew the

policy - CORRECT ANSWER: Without producing proof of insurability

A(n) _____ company is owned exclusively by shareholders - CORRECT ANSWER:

stock

ABC Insurance Agency is entering each applicant who purchases insurance through their agency into a drawing to win a free trip. This is an unlawful insurance practice

known as - CORRECT ANSWER: illegal inducement

All of the following are qualifications for establishing a health savings account (HSA)

EXCEPT - CORRECT ANSWER: Enrolled in a health plan with a prescription drug

benefit

All of these are considered key factors in underwriting life insurance EXCEPT -

CORRECT ANSWER: Marital status

All of these are valid options for an Adjustable Life Policy EXCEPT - CORRECT

ANSWER: A nonforfeiture option can be used to increase the death benefit

Amy has a group medical policy through her employer with a $500 deductible and a 90% coinsurance provision. She incurs $1,500 in covered health care services. How

much will her group insurance carrier pay? - CORRECT ANSWER: $900

An applicant intentionally lying to an insurance company on an application in order to

obtain a cheaper premium is an example of - CORRECT ANSWER: Fraud

An example of a primary care physician would be a(n) - CORRECT ANSWER: internist

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