MISSOURI LIFE AND HEALTH INSURANCE FINAL EXAM

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MISSOURI LIFE AND HEALTH INSURANCE FINAL EXAM

Actual Qs and Ans - Expert-Verified Explanation -Guaranteed passing score -100 Questions and Answers

-Format: Multiple-choice / Flashcard

Question 1: Which of these statements regarding health cover for physically handicapped dependents is FALSE?

Answer:

the dependent must have been over ten years of age when the handicap was incurred Question 2: can be defined as "making an unfair comparison of two insurance policies"?

Answer:

misrepresentation

Question 3: Which of the following BEST describes a warranty?

Answer:

statement guaranteed to be true Question 4: An insured's inability to perform two or more activities of daily living may trigger which type of policy rider?

Answer:

long term care Question 5: After a life insurance policy has been in force for more than _____ years, it becomes incontestable.

Answer:

2

Question 6: Insurers may request a hearing within if their policy is rejected?

Answer:

20 days Question 7: A producer is circulating incorrect information about the benefits of a policy. This producer may be found guilty of?

Answer:

misrepresentation Question 8: Which of the following statements about accumulated interested earned on dividends from an insurance policy is TRUE?

Answer:

taxed as ordinary income

Question 9: A disability elimination period is best described as a?

Answer:

time deductible Question 10: Which of these is a TRUE statement regarding how Missouri law recognizes an association eligible for group coverage?

Answer:

the association must NOT have not been the organized for the purpose of obtaining insurance

Question 11: Medicare Part C is?

Answer:

available to those that are enrolled in Medicare Part A and Part B

Question 12: The suicide provision for life policies would apply to?

Answer:

subsequent increase in benefits Question 13: When making a recommendation to a consumer to purchase an annuity, the producer must make reasonable efforts to obtain suitability information. Suitability information includes?

Answer:

age, annual income, financial experience

Question 14: T sends proof of loss to her insurer for an acceptable medical expense claim under her individual health insurance policy. Upon receipt, the insurer must pay the benefits?

Answer:

immediately Question 15: Which of the following is NOT a required provision in a group life policy?

Answer:

accidental death and dismemberment Question 16: E and F are business partners. Each takes out a $500,000 life insurance policy on the other, naming himself as primary beneficiary. E and F eventually terminate their business, and four months later E dies. Although E was married with three children at the time of death, the primary beneficiary is still F. However, an insurable interest no longer exists. Where will the proceeds from E's life insurance policy be directed to?

Answer:

F

Question 17: What statement about whole life policy is true?

Answer:

cash value may be borrowed against Question 18: Nursing home benefits must be provided for at least 12 consecutive months in which of the following types of policies?

Answer:

long term care

Question 19: Chemical dependency coverage is required in which type of policy?

Answer:

comprehensive major medical Question 20: The section of an insurance contract which limit coverage are called

Answer:

exclusions

Question 21: Under Missouri law, when one group health plan's contract replaces an existing group health plan with similar benefits?

Answer:

the succeeding carrier shall give credit for the satisfaction of any deductibles or waiting periods satisfied or partially satisfied under the prior carrier's plan Question 22: Prior to a producer's license being revoked, a hearing must be held. Prior to this hearing, the director of insurance is REQUIRED to give?

Answer:

written notice to the producer Question 23: The health insurance program which is administered by each state and funded by both federal and sate governments is called?

Answer:

Medicaid Question 24: Which of these individuals may NOT be compensated from an insurance company?

Answer:

a licensed producer not appointed by the company Question 25: Within days after a policy delivery, a Medicare Supplement policy can be returned for 100%premium refund?

Answer:

30 Question 26: Whose interest is being protected by the enactment of " The Replacement of Life Insurance and Annuities" regulation?

Answer:

policyowner Question 27: In Missouri, a health insurance policy that is not exempt from state-mandated benefits must cover childhood immunizations and shall not charge any deductible or copayment. The EXCEPTION to this would be?

Answer:

HMO's that exclude coverage to subscribers who obtain services by a non-participation provider