MISSOURI STATE EXAM SIMULATOR - 145 QUESTIONS

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MISSOURI STATE EXAM SIMULATOR - 145 QUESTIONS

WEIGHTED EXAM, MISSOURI LIFE AND HEALTH INSURANCE

STATE EXAM SIMULATOR- 200+ QUESTIONS

Actual Qs and Ans - Expert-Verified Explanation -Guaranteed passing score -99 Questions and Answers

-Format: Multiple-choice / Flashcard

Question 1: Premiums normally increase at time of renewal

Answer:

What type of life policy has a death benefit that adjusts periodically and is written for a specific period of time?

Question 2: Cash value may be borrowed against

Answer:

When a policyowner cash surrenders a Universal Life insurance policy in it's early years, this may be

considered a red flag for a(n):

Question 3: Convincing a prospective insured to buy an insurance policy based on exaggerations is called

Answer:

Misrepresentation Question 4: When is a Group Health policy required to provide coverage for a newborn child?

Answer:

at the moment of birth

Question 5: Jasmine is a salaried employee of an insurance company. Which of the following duties would require her to be licensed as an insurance producer?

Answer:

Soliciting insurance policies Question 6: What kind of life insurance product covers children under their parent's policy?

Answer:

Term rider Question 7: When an individual is planning to protect his family with life insurance, one method of doing so is called needs analysis. What exactly does needs analysis involve?

Answer:

Establishes the needs of the individual and his dependents Question 8: Which type of life policy contains a monthly mortality charge as well as self-directed investment choices?

Answer:

Variable Universal Life

Question 9: closed panel

Answer:

With Disability Income insurance, an insurance company may limit the monthly benefit amount a

prospective policy holder may obtain because of the insured's:

Question 10: Consumer reports requested by an underwriter during the application process of a

life insurance policy can be used to determine:

Answer:

probability of making timely premium payments Question 11: A provision in a life insurance policy that pays the policyowner an amount that

does not surpass the guaranteed cash value is called the:

Answer:

policy loan provision

Question 12: Which of these is NOT a reason for purchasing life insurance on the life of a minor?

Answer:

If both parents were to die, it would provide death benefits to the child

Question 13: Decreasing Term

Answer:

Which of these life products is NOT considered interest-sensitive?Question 14: 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??

Answer:

45 days Question 15: Which of these statements is INCORRECT regarding a Preferred Provider Organization (PPO)?

Answer:

PPO's are NOT a type of managed care systems Question 16: A potential client, age 40, would like to purchase a Whole Life policy that will accumulate cash value at a faster rate in the early years of the policy. Which of these statements made by the producer would be correct?

Answer:

20-Pay Life accumulates cash value faster than Straight Life Question 17: 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-participating provider

Question 18: 59 1/2

Answer:

Which of these types of life insurance allows the policyowner to have level premiums and to also choose from a selection of investment options?

Question 19: Health coverage for the administration of general anesthesia and hospital charges for dental care MUST be provided to a(n)

Answer:

child under the age of five Question 20: V is insured under an individual Disability Income policy with a 30-day Elimination period. On July 1, he is involved in an accident and temporarily disabled. He returns to work on December

• How many months of benefit are payable?

Answer:

• months

Question 21: What percent of personal life insurance premiums is usually deductible for federal income tax purposes?

Answer:

0% Question 22: What type of life policy covers 2 lives and pays the face amount after the first one dies?

Answer:

Joint Life Policy

Question 23: the policyowner can change the beneficiary

Answer:

An IRA owner can start making withdrawals and NOT be subjected to a tax penalty beginning at what age?Question 24: Once the insurance company receives a notice of claim, they have ___ days to send the claim form.

Answer:

15 Question 25: In order to establish a Health Reimbursement Arrangement (HRA), it MUST:

Answer:

Be established with the employer