Health Mississippi Insurance Solved Correctly Latest Update
2027, Graded A+
Question 1.
In which of the following situations is it illegal for an insurer to disclose privileged
information about an insured?
Correct Answer: A researcher for marketing purposes
Question 2.
If an insurance company wishes to order a consumer report on an applicant to assist the
underwriting process, and if a notice of insurance information practices has been provided,
the report man contain all of the following information EXCPT the applicant's
Correct Answer: Ancestry
Question 3.
A producer is acting in what capacity when he or she is trying to obtain credible
information about an applicant for health insurance?
Correct Answer: Field underwriting
Question 4.
Which of the following entities can legally bind coverage?
Correct Answer: Insurer
Question 5.
An agent is ready to deliver a policy to an applicant but has not yet received payment.
Upon delivery, the agent collects the applicant's premium check, answers any questions
the applicant may have, and then leaves. What did he forget to do?
Correct Answer: Ask her to sign a statement of good health
Question 6.
Which of the below statements is FALSE regarding the process of completing and signing
an application?
Correct Answer: Only the insured is required to sign the application.
Question 7.
What phase begins after a new policy is delivered?
Correct Answer: Free-look period
,Question 8.
Because an insurance policy is a legal contract, it must conform to the state laws
governing contracts which require all of the following elements EXCEPT
Correct Answer: Conditions
Question 9.
What is a material misrepresentation?
Correct Answer: A statement by the applicant that, upon discovery, would affect
the underwriting decision of the insurance company
Question 10.
Insurance policies, the insured is not legally bound to any particular action in the insurance
contract, but the insurer is legally obligated to pay losses covered by the policy. What
contracted element does the de- scribe?
Correct Answer: Unilateral
Question 11.
The Federal Fair Credit Reporting Act
Correct Answer: Regulates consumer reports
Question 12.
An insurer neglects to pay a legitimate claim that is covered under the terms of the policy.
Which of the following insurance principles has the insurer violated?
Correct Answer: Consideration
Question 13.
Which of the following terms most precisely fits the definition of "the incidence or
probability of sickness- es or accidents within given group of people?"
Correct Answer: Morbidity
Question 14.
An insurance contract that both the insured and the insurer meet certain conditions in
order for the contract to be enforceable. What contract characteristic does this describe?
Correct Answer: Conditional
, Question 15.
Where would Long-term care services be rendered?
Correct Answer: A nursing home or one's own home
Question 16.
An insurer is attempting to determine the insurability of an applicant and decides to obtain
medical information from several different sources. Which entity must be notified of the
investigation?
Correct Answer: The applicant
Question 17.
Before an agent delivers a policy, the insurer makes a last-minute change to the policy.
The agent informs the insured of this change, and he accepts it. In response, the agent
must
Correct Answer: Have the insured sign a statement acknowledging that he is
aware of the change.
Question 18.
The Medical Information Bureau (MIB) was created to protect
Correct Answer: Insurance companies from adverse selection by high risk
persons.
Question 19.
Which of the following is NOT required for a producer to tell a prospect?
Correct Answer: What requirements the producer needed to meet to obtain the
insurance license.
Question 20.
The insurance policy, together with the policy application and any added riders form what
is known as
Correct Answer: Entire Contract
Question 21.
A client has a new individual disability income policy with 20-day probationary period and
a 30-day elimination period. Ten days later, client breaks their leg and is off work for 45
days. How many days of disability benefits will policy pay?
Correct Answer: 15 days
2027, Graded A+
Question 1.
In which of the following situations is it illegal for an insurer to disclose privileged
information about an insured?
Correct Answer: A researcher for marketing purposes
Question 2.
If an insurance company wishes to order a consumer report on an applicant to assist the
underwriting process, and if a notice of insurance information practices has been provided,
the report man contain all of the following information EXCPT the applicant's
Correct Answer: Ancestry
Question 3.
A producer is acting in what capacity when he or she is trying to obtain credible
information about an applicant for health insurance?
Correct Answer: Field underwriting
Question 4.
Which of the following entities can legally bind coverage?
Correct Answer: Insurer
Question 5.
An agent is ready to deliver a policy to an applicant but has not yet received payment.
Upon delivery, the agent collects the applicant's premium check, answers any questions
the applicant may have, and then leaves. What did he forget to do?
Correct Answer: Ask her to sign a statement of good health
Question 6.
Which of the below statements is FALSE regarding the process of completing and signing
an application?
Correct Answer: Only the insured is required to sign the application.
Question 7.
What phase begins after a new policy is delivered?
Correct Answer: Free-look period
,Question 8.
Because an insurance policy is a legal contract, it must conform to the state laws
governing contracts which require all of the following elements EXCEPT
Correct Answer: Conditions
Question 9.
What is a material misrepresentation?
Correct Answer: A statement by the applicant that, upon discovery, would affect
the underwriting decision of the insurance company
Question 10.
Insurance policies, the insured is not legally bound to any particular action in the insurance
contract, but the insurer is legally obligated to pay losses covered by the policy. What
contracted element does the de- scribe?
Correct Answer: Unilateral
Question 11.
The Federal Fair Credit Reporting Act
Correct Answer: Regulates consumer reports
Question 12.
An insurer neglects to pay a legitimate claim that is covered under the terms of the policy.
Which of the following insurance principles has the insurer violated?
Correct Answer: Consideration
Question 13.
Which of the following terms most precisely fits the definition of "the incidence or
probability of sickness- es or accidents within given group of people?"
Correct Answer: Morbidity
Question 14.
An insurance contract that both the insured and the insurer meet certain conditions in
order for the contract to be enforceable. What contract characteristic does this describe?
Correct Answer: Conditional
, Question 15.
Where would Long-term care services be rendered?
Correct Answer: A nursing home or one's own home
Question 16.
An insurer is attempting to determine the insurability of an applicant and decides to obtain
medical information from several different sources. Which entity must be notified of the
investigation?
Correct Answer: The applicant
Question 17.
Before an agent delivers a policy, the insurer makes a last-minute change to the policy.
The agent informs the insured of this change, and he accepts it. In response, the agent
must
Correct Answer: Have the insured sign a statement acknowledging that he is
aware of the change.
Question 18.
The Medical Information Bureau (MIB) was created to protect
Correct Answer: Insurance companies from adverse selection by high risk
persons.
Question 19.
Which of the following is NOT required for a producer to tell a prospect?
Correct Answer: What requirements the producer needed to meet to obtain the
insurance license.
Question 20.
The insurance policy, together with the policy application and any added riders form what
is known as
Correct Answer: Entire Contract
Question 21.
A client has a new individual disability income policy with 20-day probationary period and
a 30-day elimination period. Ten days later, client breaks their leg and is off work for 45
days. How many days of disability benefits will policy pay?
Correct Answer: 15 days
