©BRIGHTSTARS EXAM SOLUTIONS
10/22/2024 12:14 PM
MI LIFE PRODUCER {Final Exam}
Questions And Answers 100% Pass.
A non-contributory health insurance plan, helping the insurer avoid? - answer✔Adverse
Selection
When calculating the amount of life insurance needed for an income earner, what has to be
determined when using the NEEDS APPROACH? - answer✔The family's financial objectives if
the income earner were to die OR become disabled.
Which of these are likely to occur when life OR health insurance is being applied for? -
answer✔Medical history from the insured may be reviewed OR reported.
Under a non-qualified annuity, interest is taxed AFTER the? - answer✔Exclusion ratio has been
calculated.
If a signature is REQUIRED in order to change a beneficiary on a policy, what kind of
beneficiary designation is this? - answer✔Irrevocable
Any change of address by a licensee REQUIRES notice -W/I 30 DAYS- of the? -
answer✔Commissioner
A life insurance policy owner does NOT have the right to? - answer✔Revoke an absolute
assignment.
An individual applying for a resident producer license MUST have completed the required
eductaion, W/I how many months of license application? - answer✔12 Months
-Ambiguities- in an insurance policy are always resolved in the favor of the? - answer✔Insured
An annuity currently experiencing tax-deferred growth until retirement, is in what PHASE? -
answer✔Accumulation Period
A life insurance applicant may backdate the application for up to how many months? - answer✔6
Months
10/22/2024 12:14 PM
MI LIFE PRODUCER {Final Exam}
Questions And Answers 100% Pass.
A non-contributory health insurance plan, helping the insurer avoid? - answer✔Adverse
Selection
When calculating the amount of life insurance needed for an income earner, what has to be
determined when using the NEEDS APPROACH? - answer✔The family's financial objectives if
the income earner were to die OR become disabled.
Which of these are likely to occur when life OR health insurance is being applied for? -
answer✔Medical history from the insured may be reviewed OR reported.
Under a non-qualified annuity, interest is taxed AFTER the? - answer✔Exclusion ratio has been
calculated.
If a signature is REQUIRED in order to change a beneficiary on a policy, what kind of
beneficiary designation is this? - answer✔Irrevocable
Any change of address by a licensee REQUIRES notice -W/I 30 DAYS- of the? -
answer✔Commissioner
A life insurance policy owner does NOT have the right to? - answer✔Revoke an absolute
assignment.
An individual applying for a resident producer license MUST have completed the required
eductaion, W/I how many months of license application? - answer✔12 Months
-Ambiguities- in an insurance policy are always resolved in the favor of the? - answer✔Insured
An annuity currently experiencing tax-deferred growth until retirement, is in what PHASE? -
answer✔Accumulation Period
A life insurance applicant may backdate the application for up to how many months? - answer✔6
Months
