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MICHIGAN LIFE AND HEALTH FINAL EXAM,
PRACTICE EXAM AND STUDYGUIDE NEWEST 2025
ACTUAL EXAM COMPLETE 400 QUESTIONS AND
CORRECT DETAILED ANSWERS (VERIFIED
ANSWERS) |ALREADY GRADED A+/ BRAND NEW
EXAM!!!
What amount will be paid under a policy where the insured
misstated his/her age? - Answer-an amount the premium
would have purchased at the correct age
the acceptance of a credit life application requires the
submission of a certificate of insurance to the insured
within_____ days - Answer-30 days
which of these is considered to be a Living benefit option
in a life insurance policy - Answer-Accelerated death
benefit
loans obtained by a policy owner against the cash value of
a life insurance policy - Answer-would not be treated as
taxable income
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A long term care policy typically provides all of the
following levels of care EXCEPT - Answer-acute care
the elimination period under a hospital indemnity plan is -
Answer-the specific # of days an insured must wait before
becoming eligible to receive benefits for each
hospitalization
what is an insurance policy's grace period? - Answer-
Period of time after the premium is due but the policy
remains in force
How do interest earnings accumulate in a deferred annuity
- Answer-On a tax-deferred basis
a licensee who is required to take continuing education
Must include how many ethics coursework hours -
Answer-3
the automatic premium loan provision authorizes an
insurer to withdraw from a policy's cash value the amount
of - Answer-Past due premiums that have not been paid
by the end of the grace period
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health insurance involves two perils, accident and ______
- Answer-sickness
Who is responsible for assembling the policy forms for
insureds - Answer-Insurance carriers
a securities license is required for a life insurance
producer to sell - Answer-variable life insurance
Which of the following is NOT an illegal inducement -
Answer-giving the insured an article of merchandise
printed with the producers name costing 5$
Which of the following is NOT a federal requirement of a
qualified plan? - Answer-employee must be able to make
unlimited contributions
Which dividend option would an insurer invest the policy
owner's money and add any interest earnings as the
dividends accrue? - Answer-Accumulation at interest
option
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a health insurance policy will typically cover - Answer-
preventative health services
a life insurance policy owner was injured in a car accident
which results in a total and permanent disability. which
rider would pay a monthly amount because of this
disability? - Answer-Disability income rider
in addition to the actual policy, an entire contract includes
which of the following? - Answer-the application
field underwriting preformed by the producer involves -
Answer-completing the application and collecting initial
premium
Kathy pays a monthly premium on her health insurance
policy. How long is her grace period? - Answer-10 days
Pierre is covered by his employer's group major medical
plan. His employer pays for 75% of the premium and he
pays for 25%. How much would a $10,000 benefit be
taxable as income under this plan? - Answer-0$
MICHIGAN LIFE AND HEALTH FINAL EXAM,
PRACTICE EXAM AND STUDYGUIDE NEWEST 2025
ACTUAL EXAM COMPLETE 400 QUESTIONS AND
CORRECT DETAILED ANSWERS (VERIFIED
ANSWERS) |ALREADY GRADED A+/ BRAND NEW
EXAM!!!
What amount will be paid under a policy where the insured
misstated his/her age? - Answer-an amount the premium
would have purchased at the correct age
the acceptance of a credit life application requires the
submission of a certificate of insurance to the insured
within_____ days - Answer-30 days
which of these is considered to be a Living benefit option
in a life insurance policy - Answer-Accelerated death
benefit
loans obtained by a policy owner against the cash value of
a life insurance policy - Answer-would not be treated as
taxable income
,2|Page
A long term care policy typically provides all of the
following levels of care EXCEPT - Answer-acute care
the elimination period under a hospital indemnity plan is -
Answer-the specific # of days an insured must wait before
becoming eligible to receive benefits for each
hospitalization
what is an insurance policy's grace period? - Answer-
Period of time after the premium is due but the policy
remains in force
How do interest earnings accumulate in a deferred annuity
- Answer-On a tax-deferred basis
a licensee who is required to take continuing education
Must include how many ethics coursework hours -
Answer-3
the automatic premium loan provision authorizes an
insurer to withdraw from a policy's cash value the amount
of - Answer-Past due premiums that have not been paid
by the end of the grace period
,3|Page
health insurance involves two perils, accident and ______
- Answer-sickness
Who is responsible for assembling the policy forms for
insureds - Answer-Insurance carriers
a securities license is required for a life insurance
producer to sell - Answer-variable life insurance
Which of the following is NOT an illegal inducement -
Answer-giving the insured an article of merchandise
printed with the producers name costing 5$
Which of the following is NOT a federal requirement of a
qualified plan? - Answer-employee must be able to make
unlimited contributions
Which dividend option would an insurer invest the policy
owner's money and add any interest earnings as the
dividends accrue? - Answer-Accumulation at interest
option
, 4|Page
a health insurance policy will typically cover - Answer-
preventative health services
a life insurance policy owner was injured in a car accident
which results in a total and permanent disability. which
rider would pay a monthly amount because of this
disability? - Answer-Disability income rider
in addition to the actual policy, an entire contract includes
which of the following? - Answer-the application
field underwriting preformed by the producer involves -
Answer-completing the application and collecting initial
premium
Kathy pays a monthly premium on her health insurance
policy. How long is her grace period? - Answer-10 days
Pierre is covered by his employer's group major medical
plan. His employer pays for 75% of the premium and he
pays for 25%. How much would a $10,000 benefit be
taxable as income under this plan? - Answer-0$
