Missouri State Exam Simulator - 145 Questions Weighted Exam, Missouri Life and Health Insurance State Exam Simulator- 200+ questions and (VERIFIED) answers rated A

Convincing a prospective insured to buy an insurance policy based on exaggerations is called - Misrepresentation A nondisabled individual is first eligible for a Medicare Supplement policy at age - 65 In a qualified retirement plan, the yearly contributions to an employee's account: - are restricted to maximum levels set by the IRS What is the purpose of a Policy Summary? - It highlights the critical parts of the policy issued Jasmine is a salaried employee of an insurance company. Which of the following duties would require her to be licensed as an insurance producer? - Soliciting insurance policies J's Major Medical policy has a $2,000 deductible and an 80/20 Coinsurance clause. If J is hospitalized and receives a bill for $10,000, J would pay: - 3,600 What kind of life insurance product covers children under their parent's policy? - Term rider A father who dies within 3 years after purchasing a life insurance policy on his infant daughter can have the policy premiums waived under which provision? - Payor Provision A major medical policy typically: - provides benefits for reasonable and necessary medical expenses, subject to policy limitsIn Major Medical Expense policies, what is the intent of a Stop Loss provision? - Limits an insured's out-of-pocket medical expenses What type of life insurance gives the greatest amount of coverage for a limited period of time? - Which of these statements concerning an Individual Straight Life annuity is accurate? - Payments are made to an annuitant for life Quarterly premium payments increase the annual cost of insurance because - interest to the insurer is decreased while the administrative costs are increased Deductibles are used in health policies to lower: - overuse of medical services Which statement about a whole life policy is correct? - Cash value may be borrowed against 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): - Anti-Money Laundering violation The sections of an insurance contract which limit coverage are called: - exclusions M is insured under a basic Hospital/Surgical Expense policy. A physician performs surgery on M. What determines the claim M is eligible for? - Determined by the terms of the policy The situation in which a group of physicians are salaried employees and conduct business in an HMO facility is called a(n): - closed panel With Disability Income insurance, an insurance company may limit the monthly benefit amount a prospective policy holder may obtain because of the insured's: - gross income at the time of purchaseThe percentage of an individual's Primary Insurance Amount (PIA) determines the benefits paid in which of the following programs? - Social Security Disability Income