MISSOURI LIFE AND HEALTH INSURANCE STATE EXAM

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MISSOURI LIFE AND HEALTH INSURANCE STATE EXAM

SIMULATOR- 200+ QUESTIONS

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

-Format: Multiple-choice / Flashcard

Question 1: A provision in a life insurance policy that pays the policy owner an amount that does not surpass the guaranteed cash value is called the

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Policy loan provision Question 2: Agent J takes an application and initial premium from an applicant and sends the application and premium check to the insurance company. The insurance company returns the check back to J because the check is made out to J instead of the insurance company. What action should J take?

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Return to the customer, collect a new check made out to the insurance company, and send the new check out to the insurance company Question 3: What is the purpose of the Missouri Life and Health Insurance Guaranty Association?

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Ensures that claims filed against insolvent insurance companies will be paid

Question 4: An employee requested that the balance of her 401(k) account be sent directly to her in one lump sum. Upon receipt of the distribution, she immediately has the funds rolled over into an IRA. What is the tax consequence of the distribution sent to this employee?

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distribution is subject to federal income tax withholding Question 5: All of these statements concerning Settlement Options are true, EXCEPT:

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Only the Beneficiary may select Question 6: Information obtained from a phone conversation to the proposed insured can be found in which of these reports?

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Inspection Report Question 7: If the insured and primary beneficiary are both killed in the same accident and it cannot be determined who died first, where are the death proceeds to be directed under the Uniform Simultaneous Death Act?

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insured's contingent beneficiary Question 8: Which of the following reimburses its insureds for covered medical expenses?

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Commercial Insurers Question 9: Health insurance coverage of autism spectrum disorder treatments may be limited in which way?

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Medically necessary treatment in accordance with a treatment plan Question 10: In a Disability Income policy, which of these clauses acts as a deductible?

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Elimination Period

Question 11: M's insurance company denied a reinstatement application for her lapsed health insurance policy. The company did not notify M of this denial. How many days from the reinstatement application date does the insurance company have to notify M of the denial before the policy will be automatically placed back in force??

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45 days Question 12: After an insured gives notice of loss, what must he/she do if the insurer does not furnish forms?

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file written proof of loss Question 13: Which type of life policy contains a monthly mortality charge as well as self-directed investment choices?

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Variable Universal Life Question 14: Which of the following is the reimbursement of benefits for the treatment of a beneficiary's injuries caused by a third party?

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Subrogation Question 15: When an insurance application is taken by a producer, which of these statements is true?

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Any changes made on the application require the applicant's initials Question 16: All of these statements concerning a licensee's responsibility for premiums received are true EXCEPT

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The licensee must hold them in a separate account before transmitting them to the insurance company Question 17: J's Major Medical policy has a $2000 deductible and an 80/20 coinsurance clause.If J is hospitalized and receives a bill for $10,000, j would pay

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3,600 (2k + 20% of thr remaining bill)

Question 18: The premiums paid by an employer for his employee's group life insurance are

usually considered to be:

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tax deductible to the employer Question 19: What does a Face Amount Plus Cash Value Policy supposed to pay at the insured's death?

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Face Amount plus cash value Question 20: A comprehensive major medical health insurance policy contains an Eligible Expenses provision which identifies the types of health care services that are covered. All of the

following health care services are typically covered, EXCEPT for:

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experimental and investigative services Question 21: An insurer may exclude pre-existing conditions coverage on a Medicare Supplement policy for up to

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• Months

Question 22: XYZ Company pays the entire premium for its group health plan. The MINIMUM percentage of eligible employees that must be covered is

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100% Question 23: Which of these is NOT relevant when determining the amount of personal life insurance needed?

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local unemployment rate Question 24: What type of policy would only provide coverage for specific types of illnesses (cancer, stroke, etc)?

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Dread Disease Insurance