Michigan Life, Accident, and Health NEWEST EXAM
2026-2027 COMPLETE 220 QUESTIONS AND
CORRECT DETAILED ANSWERS (VERIFIED
ANSWERS) ALREADY GRADED
____% of eligible employees must participate in a contributory plan. - CORRECT ANSWER:
75%
____% of eligible employees must participate in a non-contributory plan. - CORRECT
ANSWER: 100%
A ___________ is given to each covered person under a group life insurance policy. -
CORRECT ANSWER: Certificate of Insurance
A baker's union and a butcher's union join together to form a trust to provide insurance to their
employees. This type of group is called _______. - CORRECT ANSWER: Taft-Hartley trust
(Group made of one or more unions)
A defined benefit plan is where the employer agrees to make necessary contributions on behalf
of _____________ in order to provide a specific retirement benefit. - CORRECT ANSWER:
Eligible employees
A hospital income policy will make payments to:
A. the hospital
B. the insured
C. both A&B
D. the beneficiary - CORRECT ANSWER: B. the insured
,A life insurance policy contract will permit reinstatement within _____ years of a policy lapsing.
Proof of insurability may be required. Reinstatement application must be filed. - CORRECT
ANSWER: 3 years
A life policy's incontestability period is ___ years. After this time, the insurer CANNOT dispute
the validity of the contract - CORRECT ANSWER: 2 years
A LTC policy must provide coverage for at least ______ consecutive months. - CORRECT
ANSWER: 12 consecutive months
A person becomes eligible for the federal Medicare program at the age of ____. Coverage must
be requested within _____ days before or after the applicant's birthday. - CORRECT ANSWER:
65 years old, 90 days
A person who receives retirement benefits at normal retirement age receives _____% if PIA as a
retirement benefit. - CORRECT ANSWER: 100%
A policy or rider that pays a face amount if there is an accidental loss of: 2 arms, 2 legs, or the
loss of vision in both eyes - CORRECT ANSWER: Accidental Death & Dismemberment
(AD&D)
A pro-rata return is one in which the insurer returns ______ of the unearned premium. -
CORRECT ANSWER: All of the unearned premium is returned.
A producer has _____ days to respond to charges of violating insurance laws. - CORRECT
ANSWER: 30 days.
A producer has ______ days to notify the Department of Insurance of any name or address
changes. - CORRECT ANSWER: 30 days
, A producer has a fiduciary responsibility to all of the following: - CORRECT ANSWER: -
Insured on cancelled policies
- Insurer, for premiums due
- Prospective purchaser of insurance, when the application is rejected.
A rider that provides more benefits during the first 6 months or year of a claim is a
_________________ rider. - CORRECT ANSWER: Additional monthly benefit rider
A surviving spouse who is disabled can start receiving survivor benefits at age ____, if the
deceased was fully insured. - CORRECT ANSWER: Age 50
A surviving spouse who is not disabled can start receiving survivor benefits at age ____, if the
deceased was fully insured. - CORRECT ANSWER: Age 60
A temporary license issued to close the affairs of a deceased producer may be issued for up to
_____ days at the discretion of the Commissioner - CORRECT ANSWER: 180 days
A type of plan where employees can select benefits from a variety of coverage options based on
individual and family needs. - CORRECT ANSWER: Cafeteria plan
After the deductible is satisfied, Part B pays what % of all approved charges? - CORRECT
ANSWER: 80%
Aleatory contract - CORRECT ANSWER: Dependent on an uncertain event
All insurance policies can be cancelled at any time by _______________ only. - CORRECT
ANSWER: The insured.
All of the following are examples of insurance transactions except:
A. soliciting applications for insurance
2026-2027 COMPLETE 220 QUESTIONS AND
CORRECT DETAILED ANSWERS (VERIFIED
ANSWERS) ALREADY GRADED
____% of eligible employees must participate in a contributory plan. - CORRECT ANSWER:
75%
____% of eligible employees must participate in a non-contributory plan. - CORRECT
ANSWER: 100%
A ___________ is given to each covered person under a group life insurance policy. -
CORRECT ANSWER: Certificate of Insurance
A baker's union and a butcher's union join together to form a trust to provide insurance to their
employees. This type of group is called _______. - CORRECT ANSWER: Taft-Hartley trust
(Group made of one or more unions)
A defined benefit plan is where the employer agrees to make necessary contributions on behalf
of _____________ in order to provide a specific retirement benefit. - CORRECT ANSWER:
Eligible employees
A hospital income policy will make payments to:
A. the hospital
B. the insured
C. both A&B
D. the beneficiary - CORRECT ANSWER: B. the insured
,A life insurance policy contract will permit reinstatement within _____ years of a policy lapsing.
Proof of insurability may be required. Reinstatement application must be filed. - CORRECT
ANSWER: 3 years
A life policy's incontestability period is ___ years. After this time, the insurer CANNOT dispute
the validity of the contract - CORRECT ANSWER: 2 years
A LTC policy must provide coverage for at least ______ consecutive months. - CORRECT
ANSWER: 12 consecutive months
A person becomes eligible for the federal Medicare program at the age of ____. Coverage must
be requested within _____ days before or after the applicant's birthday. - CORRECT ANSWER:
65 years old, 90 days
A person who receives retirement benefits at normal retirement age receives _____% if PIA as a
retirement benefit. - CORRECT ANSWER: 100%
A policy or rider that pays a face amount if there is an accidental loss of: 2 arms, 2 legs, or the
loss of vision in both eyes - CORRECT ANSWER: Accidental Death & Dismemberment
(AD&D)
A pro-rata return is one in which the insurer returns ______ of the unearned premium. -
CORRECT ANSWER: All of the unearned premium is returned.
A producer has _____ days to respond to charges of violating insurance laws. - CORRECT
ANSWER: 30 days.
A producer has ______ days to notify the Department of Insurance of any name or address
changes. - CORRECT ANSWER: 30 days
, A producer has a fiduciary responsibility to all of the following: - CORRECT ANSWER: -
Insured on cancelled policies
- Insurer, for premiums due
- Prospective purchaser of insurance, when the application is rejected.
A rider that provides more benefits during the first 6 months or year of a claim is a
_________________ rider. - CORRECT ANSWER: Additional monthly benefit rider
A surviving spouse who is disabled can start receiving survivor benefits at age ____, if the
deceased was fully insured. - CORRECT ANSWER: Age 50
A surviving spouse who is not disabled can start receiving survivor benefits at age ____, if the
deceased was fully insured. - CORRECT ANSWER: Age 60
A temporary license issued to close the affairs of a deceased producer may be issued for up to
_____ days at the discretion of the Commissioner - CORRECT ANSWER: 180 days
A type of plan where employees can select benefits from a variety of coverage options based on
individual and family needs. - CORRECT ANSWER: Cafeteria plan
After the deductible is satisfied, Part B pays what % of all approved charges? - CORRECT
ANSWER: 80%
Aleatory contract - CORRECT ANSWER: Dependent on an uncertain event
All insurance policies can be cancelled at any time by _______________ only. - CORRECT
ANSWER: The insured.
All of the following are examples of insurance transactions except:
A. soliciting applications for insurance
