MISSOURI LIFE ACCIDENT AND HEALTH INSURANCE

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MISSOURI LIFE ACCIDENT AND HEALTH INSURANCE

PRODUCER (OP12-MO54) LICENSE EXAM

Actual Qs and Ans - Expert-Verified Explanation -Guaranteed passing score -81 Questions and Answers

-Format: Multiple-choice / Flashcard

Question 1: Waiting period between when an individual is hired and when he/she becomes eligible to enroll in the group plan

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Probationary Period Question 2: The insurance company's promise to pay the policy's death benefit to the named beneficiary, after receiving due proof of death of the insured, as long as the insured died while the policy was in force

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Insuring Clause Question 3: Pays directly to the insured a specified dollar amount per day during hospitalization

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Hospital Indemnity

Question 4: Projected, but not guaranteed

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Dividends

Question 5: A Notice Regrading Replacement must be signed by

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The applicant and producer Question 6: In order to enroll in part C of Medicare, you must also be enrolled in...

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Parts A and B Question 7: Insured must wait ______ days, but no later than 3 years after providing proof of loss, before legal action can be brought against the insurer.

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60 Question 8: Federal law requires that every policy providing coverage for a dependent child extends coverage up to age...

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26 Question 9: An agreement contractually establishes a price with the intent to purchase, at a predetermined value, the assets of a business should one of the contract participants predecease the others

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Buy-Sell Agreement Question 10: This whole life policy is usually written to cover 2 lives, and the death benefit is not paid until the last insured dies.

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Joint Survivorship Life Question 11: Contributory plans require a minimum of what percent of participation of the eligible employees?

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75%

Question 12: Cases in which the individual application and/or medical reports reveal conditions for which further information is necessary to determine insurability, you will need an....

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Attending Physician Statement Question 13: In order to reinstate a policy that has lapsed unintentionally due to nonpayment...

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The insured must provide evidence of insurability and the owner must pay all back premiums from the date of lapse plus interest Question 14: If the insured is injured while committing or attempting to commit a felony or engaging in an illegal occupation,

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The claim will be denied Question 15: If the initial premium is paid at the time of application, the producer will issue a

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Conditional Receipt Question 16: A personal statement submitted by the producer regarding the applicant's financial condition, and any personal knowledge of the applicant

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Agent's Report Question 17: Provides that if more than one plan covers a loss, the plans will coordinate so the insured does not get paid more than the entire loss.

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Coordination of Benefits Question 18: All individual and group health insurance policies providing coverage for dependents of the insured must provide coverage for the insured's newborn child...

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From the moment of birth

Question 19: A target premium is established by the insurer, which is the minimum amount that must be deducted from the cash value to maintain the policy to age 100, based on current interest rates, mortality and expense charges.

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Flexible Premium Question 20: Any transaction in which a new life policy or annuity is to be purchased

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Replacement Question 21: A contract in which one party is legally bound to the contractual obligations

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Unilateral Contract Question 22: Managed care plans arranged through a network of healthcare providers, independent hospitals and medical practitioners, which become preferred providers in a specific geographic area

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PPO's Question 23: It will allow an insured to purchase additional benefits, for a limited amount, at specified intervals in a policy without evidence of insurability

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Guaranteed Insurability Rider

Question 24: Another name for Accelerated Death Benefit is...

Answer:

Living Benefit

Question 25: Who has the right to change the premium mode?

Answer:

The Policyowner