MICHIGAN LIFE INSURANCE STATE
CERTIFICATION PREP ACTUAL TEST WITH
VERIFIED SOLUTIONS 100 PERCENT
CORRECT
⩥ Kurt is an active duty serviceman who was recently killed in an
accident while home on leave. Which military service exclusion clause
would pay upon his death?
Active
Status
Results
Leave.
Answer: Results
⩥ In the Michigan Insurance Code, Chapter 45, insurance fraud defines
financial loss as all of the following EXCEPT
Loss of earnings
,additional premiums
out of pocket expenses
repair and replacement costs.
Answer: additional premiums
⩥ Which contract element is insurable interest a component of?
Competent parties
offer and acceptance
consideration
legal purpose.
Answer: legal purpose
⩥ Which type of annuity stops all payments upon the death of the
annuitant?
Life annuity
,Period certain annuity
Cash refund annuity
Joint and survivor annuity.
Answer: Life annuity
⩥ Life insurance policies will normally pay for losses arising from
commercial aviation
war
suicide
hazardous jobs.
Answer: Commercial aviation
⩥ An insurance applicant with a below-average likelihood of loss is
typically considered to be a
Preferred risk
Subpar risk
, Declined risk
standard risk.
Answer: Preferred risk
⩥ A life insurance policyowner does NOT have the right to
Change a beneficiary
select a beneficiary
take out a policy loan
revoke an absolute assignment.
Answer: revoke an absolute assignment
⩥ A foreign insurance company doing business in Michigan
is a company domiciled under the laws of another state
is not subject to Michigan Insurance laws
CERTIFICATION PREP ACTUAL TEST WITH
VERIFIED SOLUTIONS 100 PERCENT
CORRECT
⩥ Kurt is an active duty serviceman who was recently killed in an
accident while home on leave. Which military service exclusion clause
would pay upon his death?
Active
Status
Results
Leave.
Answer: Results
⩥ In the Michigan Insurance Code, Chapter 45, insurance fraud defines
financial loss as all of the following EXCEPT
Loss of earnings
,additional premiums
out of pocket expenses
repair and replacement costs.
Answer: additional premiums
⩥ Which contract element is insurable interest a component of?
Competent parties
offer and acceptance
consideration
legal purpose.
Answer: legal purpose
⩥ Which type of annuity stops all payments upon the death of the
annuitant?
Life annuity
,Period certain annuity
Cash refund annuity
Joint and survivor annuity.
Answer: Life annuity
⩥ Life insurance policies will normally pay for losses arising from
commercial aviation
war
suicide
hazardous jobs.
Answer: Commercial aviation
⩥ An insurance applicant with a below-average likelihood of loss is
typically considered to be a
Preferred risk
Subpar risk
, Declined risk
standard risk.
Answer: Preferred risk
⩥ A life insurance policyowner does NOT have the right to
Change a beneficiary
select a beneficiary
take out a policy loan
revoke an absolute assignment.
Answer: revoke an absolute assignment
⩥ A foreign insurance company doing business in Michigan
is a company domiciled under the laws of another state
is not subject to Michigan Insurance laws
