Mississippi Life and Health Final Exam| 150 Questions| Correct Answers| Verified

Mississippi Life and Health Final Exam .m .m .m .m .m




1. What kind of life insurance product covers children
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under their parent's policy?
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Family Maintenance rider .m .m




Term rider
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Family Income rider Payor .m .m .m




benefit
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2. Under a trustee group life policy, who would be eligi- ble employee
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for a certificate of coverage?
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Corporation
Employee
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Employer
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Labor union
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3. A producer must report to the Commissioner of Insur-
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ance any administrative action or criminal charges
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taken against the producer within
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disposition of the matter.
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10
15
20
30

4. The return of all or part of the commission to the
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insured by an insurance producer as an inducement
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to purchase the insurance is known as
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twisting
redlining
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rebating
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misrepresentation

5. Insurance producer licenses normally must be re- .m .m .m .m .m .m two years
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newed every
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six months .m





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, Mississippi Life and Health Final Exam .m .m .m .m .m




one year .m




two years
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three years
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6. Which of the following phrases refers to the fees
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charged by a healthcare professional?
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expenses
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Deductible
Coinsurance
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Usual, customary, and reasonable expenses
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Hospital expense
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7. The situation in which a group of physicians are
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salaried employees and conduct business in an HMO
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facility is called a(n)
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closed panel .m




open panel
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co-op panel
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capitation panel .m




8. An accident policy will most likely pay a benefit for
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a(n)
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self-inflicted injury .m




critical illness
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on-the-job accident .m




off-the-job accident
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9. B has a $100,000 Accidental Death and Dismember-
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ment policy that pays triple indemnity for common
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carrier death. If B is killed from an accident on a
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commercial flight, what will the policy pay B's bene-
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ficiary?
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$100,000
$200,000
$300,000
$400,000

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, Mississippi Life and Health Final Exam .m .m .m .m .m




10. An insurance company that replaces existing insur-
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ance must provide a copy of which of the following
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documents to the existing insurance company?
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The new policy .m .m




The premium and interest figures for the proposed
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policy
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A policy summary
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The Notice Regarding Proposed Replacement of Life
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Insurance or Annuity
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11. An insurance company formed under the laws of
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Canada would be known in Mississippi as
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a domestic company
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an alien company
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a foreign company
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a mutual company
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12. What kind of life insurance beneficiary requires
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his/her consent when a change of beneficiary is
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made?
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Irrevocable beneficiary .m




Tertiary beneficiary
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Primary beneficiary
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Revocable beneficiary
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13. K is the insured and P is the sole beneficiary on a life
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insurance policy.Both are involved in a fatal accident
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where K dies before P. Under the Common Disaster
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provision, which of these statements is true?
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-Proceeds will be paid to P's estate .m .m .m .m .m .m




-Proceeds will be divided equally between K's and P's .m .m .m .m .m .m .m .m




estate
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-Proceeds will be payable to K's estate if P dies within a .m .m .m .m .m .m .m .m .m .m .m




specified time
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, Mississippi Life and Health Final Exam .m .m .m .m .m




-The courts will decide who will receive death bene-
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fits
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14. Unfair discrimination is described as
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rates for persons
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failing to choose a specific policy type
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charging different rates for persons in the same class .m .m .m .m .m .m .m .m




writing different policies for different individuals
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writing policies for only one company
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15. An agent takes an individual Disability Income ap-
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plication, collects the appropriate premium, and is-
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sues the prospective insured a conditional receipt.
.m .m .m .m .m .m .m ceptable risk by
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The next step the insurance company will take is to
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dard underwriting
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-issue the policy only when the initial premium check
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has cleared
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-determine if the applicant is insurable by investigat- .m .m .m .m .m .m .m




ing family health history
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-issue the policy on a standard basis
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-determine if the applicant is an acceptable risk by .m .m .m .m .m .m .m .m




completing standard underwriting procedures
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16. Which premium schedule results in the lowest cost to
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the policy owner?
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Semi-annual
Monthly
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Quarterly
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Annual
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17. The most important factor to consider when deter-
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mining whether to convert term insurance at the in-
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sured's attained age or the insured's original age is
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the cost .m




the health of the insured
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the amount of coverage being converted who
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will be beneficiary
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